Cumulative issuance for marketplace lending securitization now totals $28.2 billion across 106 deals; Q4 2017 issuance totaled $4.4 billion which was another record quarter; SoFi issued the largest consumer and student lending deals ever; PeerIQ shares other highlights in their quarterly report. Source
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US regulators did not sign off on Ant Financial’s acquisition of MoneyGram, but this won’t hamper their US ambitions; Last May Ant Financial did a deal with First Data, the payment infrastructure company; Ant Financial has been largely successful in China due to the unique financial system there; in the US they face other challenges which includes a more developed financial system with legacy players; it remains to be seen whether the eventual leaders in the US will be technology companies like Amazon, something we’ve seen happen in China. Source
Curve lets customers consolidate their credit cards into one Curve card; Curve was previously in beta and available to business users only; the fintech company stated that they have 50,000 people on the waitlist and had 100,000 beta users; Curve offers a free version of the app and a premium version for £50. Source
The new entity will work with businesses in a variety of ways; under “catalysts” internal consultants will help with problem solving and will include the eXellerator innovation lab; “Investments” will include their minority investments in a variety of companies; they have previously invested in Ripple and Paxata; “Ventures” will focus on their investments in new technology. Source
The easiest way to get insight into the marketplace lending securitization market is through PeerIQ’s quarterly reports. It feels like...
Victory Park is one of the biggest backers of subprime lenders in the US; they have provided capital to companies like Avant, Elevate and LendUp totaling $6.5 billion from 90 deals; the firm is now looking at zip Money in Australia, Kreditech in Germany and Oakam in the UK. Source
The new method called DAICO incorporates characteristics of DAOs or Decentralized Autonomous Organizations; the goal is to reduce complexity and risk with ICOs; article shares the benefits of this new approach. Source
Researches have investigated price manipulations in cryptocurrencies and have written a paper titled “Price Manipulation in the Bitcoin Ecosystem” which shares their findings; many of the newer cryptocurrencies as well as bitcoin in the early days were subject to manipulation since they were thinly traded; the article also shares instances of fake trades during the Mt.Gox hack. Source
The CEO and Chairman of Laurel Road, formerly Darien Rowayton Bank (DRB), shares how he built a small community bank into a leader in student loan refinancing. Source