Brain Brooks, former acting head of the Office of the Comptroller of the Currency under the Trump administration, resigned from his post as CEO of crypto exchange Binance.US, a mere three months into the job.
Read MoreCircle, a Boston-based crypto firm behind the USD Coin (USDC) stablecoin, announced plans to become a full-reserve national commercial bank, operating under the supervision and risk management requirements of the Federal Reserve
Read MoreFigure, a fintech firm led by ex-SoFi CEO Mike Cagney that focuses on using blockchain for loan origination, equity management, private fund services, and payments, is partnering with mortgage and consumer loan servicer Sagent to help grow its mortgage market share.
Read MoreHuman Interest, a San Francisco-based startup 401(k) provider, claims to “launch a retirement plan in minutes and put it on autopilot.”
Read MorePopular investing, savings and personal finance app Acorns is partnering with Cricket Wireless in a bid to encourage customers to save while paying their phone bills.
Read MoreShares of trading app Robinhood, which gained notoriety earlier this year by enabling retail investors to pump up so-called meme stocks including Gamestop and AMC Entertainment, are surging a few days into its launch on the Nasdaq.
Read MoreIn a speech at the Aspen Security Forum this week, Gary Gensler, chairman of the Securities and Exchange Commission (SEC), likened the crypto markets to the Wild West in which investors were not sufficiently protected.
Read MoreFintech MoneyLion, which began as a lending and personal-finance platform and more recently added banking and investing, is pursuing a financial “super app” strategy to grow its customer base.
Read MoreMonzo, a longtime cool kid in the U.K. challenger bank club, is looking to get out of a Covid-related slump, reporting £114.8M (around $159M) in pre-tax losses last year.
Read MorePayments fintech Square this weekend said it plans to acquire ‘buy now, pay later’ (BNPL) firm Afterpay in a $29B all-stock deal, allowing it to enhance its relationships with sellers and consumers.
Read MoreIRA provider Choice and Compass Mining have rolled out a solution whereby clients can buy Bitcoin mining machines through individual retirement accounts (IRAs).
Read MoreIn an eleventh hour announcement, brokerage platform Robinhood, which is set to begin trading on the Nasdaq this week, has disclosed that it’s under investigation by regulators again.
Read MoreM1 Finance, a Chicago-based financial app that includes investing, lending, and banking, launched an Owner’s Rewards Card that offers up to 10% cash back for users when they shop at select companies whose stock they own.
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.
