A flurry of recent purchase and sale activity in non-fungible tokens (NFTs) – a special type of digital asset on a blockchain that’s unique and non-interchangeable – is popularizing use cases for blockchain.
Read MoreWireless provider Verizon this month rolled out an app to allow children to try out banking and personal finance management – with the oversight of their parents.
Read MoreFive months after U.S. regulators scuttled Visa’s Plaid acquisition, the payments giant announced it’s planning to acquire open banking startup Tink, which was established in 2012.
Read MoreOn the heels of the Supreme Court decision to uphold the Affordable Care Act, point-of-sale (POS) lenders see opportunities to meet the credit needs of consumers struggling to meet out-of-pocket costs.
Read MoreStash, a digital investing app that’s expanded to a full complement of financial product offerings including banking and financial wellness and savings tools, has acquired PayGrade, a financial literacy platform aimed at school-age kids.
Read MoreCincinnati-based Fifth Third Bank will acquire Provide, an 8-year-old startup that focuses on building financial products that make starting and running a healthcare practice easy, including practice lending, business bank accounts, and insurance. Terms of the deal were not disclosed.
Read MoreBilt, a New York-based startup, has teamed up with property managers including Blackstone, Starwood, and Equity Residential, to launch a fee-free credit card that allows customers to earn rewards from rent payments that go toward mortgage payments.
Read MoreStarting in August, PayPal says it plans to hike transaction fees to 3.49% plus 49 cents for merchants that use its proprietary services, which include PayPal Checkout, Pay with Venmo, PayPal Credit, Pay in 4, PayPal Pay with Rewards, and Checkout with Crypto.
Read MoreRevolut, a digital banking platform that operates in more than 30 European countries, Australia, Singapore, Switzerland, Japan, and the U.S., reported a £168M ($234M) loss for 2020, up 57% year-over-year, but Revolut’s adjusted annual revenues (which take into account crypto) were also up 57% at £261M ($364M).
Read MoreThe value of the iron titanium token, the share token of a decentralized finance protocol, fell from $60 to near zero in a day. The token was part of an algorithmic stablecoin project called Iron Finance.
Read MoreJPMorgan Chase has acquired U.K. robo-adviser Nutmeg as it prepares to launch a digital banking offering in Britain later this year.
Read MoreIn a blow to crypto traders, the Securities and Exchange Commission is holding off approval of the first Bitcoin exchange-traded fund (ETF).
Read MoreCross River Bank, the New Jersey-based bank behind fintechs like Affirm, Upgrade, and Upstart, announced that it created its own venture capital arm to invest in companies that “sit at the intersection of lending, payments, investing and fintech.”
Read MoreThree months after relaunching its cryptocurrency trading desk, Goldman Sachs is expanding its cryptocurrency reach beyond Bitcoin and into Ether.
Read MoreGreenlight, an Atlanta company that offers debit cards and bank accounts for kids, is suing a former Facebook executive who recently began a job at rival startup Step, whose products serve a similar customer group.
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
