Payments giant Mastercard said it’s getting rid of the magnetic strip on cards starting in 2024. The move is being taken largely as a result of the growth in adoption of new technology, including chip cards and contactless payments.
Read MorePoly Network is a decentralized finance (DeFi) platform that was the target of a hack last week resulting in $600M in stolen crypto.
Read MoreThe Consumer Financial Protection Bureau (CFPB) has outlined its priorities in a staff memo, including consumers facing hardship due to Covid-19, and racial equity.
Read MoreNeobank Chime, which reportedly has around 20 million customers, just closed a blockbuster $750M, bringing its valuation up to $25B and positioning it for an IPO in the first half of next year.
Read MoreIn one of the biggest crypto thefts ever, nearly $600M in crypto was stolen in a cyberattack on a decentralized finance (DeFi) platform called Poly Network.
Read MorePayments unicorn Brex is withdrawing its industrial loan company (ILC) bank charter application to allow it to “modify and strengthen” it and resubmit at a future date.
Read MoreIn its second-ever earnings report as a public company, cryptocurrency exchange Coinbase appears to be on a winning streak, with revenues past 1000% and profits up almost 4900%.
Read MoreAlly Financial entered into a partnership with Hippo, an arrangement that would allow it to offer home insurance to its customers.
Read MoreThe U.S. Senate has rejected a bipartisan amendment to the $1T infrastructure bill that would have ring-fenced cryptocurrency tax-reporting requirements, creating potential headaches for crypto companies.
Read MoreBrain 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 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.
