UK Financial Conduct Authority imposes ban on Binance Markets
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Fintech News Stories
Walmart moves deeper into neobank space with demand deposit account capabilities
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Walmart, which offers a debit card issued by Green Dot Bank named Walmart MoneyCard, is adding demand deposit account (DDA) capabilities, transforming the Walmart MoneyCard from a prepaid card to a full-suite checking account.
Read MoreSurvey Says! 3 Important benefits of free data for early-stage fintechs
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A 2018 by Medici report provides anecdotal evidence of a 10% survival rate for bootstrapped fintech startups.
Read MoreNFTs bring tangibility to digital artifacts via blockchain
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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 MoreVerizon moves into banking with Gen Z-focused Family Money app
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Wireless 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 MoreVisa to buy Swedish open banking startup Tink for $2B
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Five 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 MoreWith Affordable Care Act firmly in place, point-of-sale lenders fill a gap on health care purchases
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On 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 MoreInvesting app Stash expands education push with PayGrade acquisition
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Stash, 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 MoreFifth Third Bank to acquire Provide, a fintech focused on health care practices
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Cincinnati-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 MoreFintech Bilt’s credit card rewards renters with points toward a mortgage
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Bilt, 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 MorePayPal is tinkering with transaction fees to strengthen its competitive position
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Starting 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 sees pandemic boost as PayPal tweaks fees
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Revolut, 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 MoreIron titanium token falls to near zero amid panic-induced selling
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The 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 buys digital wealth app Nutmeg as it preps UK launch
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JPMorgan Chase has acquired U.K. robo-adviser Nutmeg as it prepares to launch a digital banking offering in Britain later this year.
Read MoreSEC delays approval of first Bitcoin exchange-traded fund
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In a blow to crypto traders, the Securities and Exchange Commission is holding off approval of the first Bitcoin exchange-traded fund (ETF).
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