Mizuho Financial Group is looking to invest several billion dollars over the next five years, targeting fintech in Asia; the...
Overstock CEO Patrick Byrne is exploring options to sell the retailer and use the proceeds to start a digital global property registry; Mr. Byrne would be teaming up with Hernando de Soto who says that formalizing land rights can help to stop poverty; they are looking to use the blockchain to list ownership records, this would make it easier to trace them back to the right owner and account for less forgeries; the new company, De Soto, would start in early 2018 and use more than 10 Overstock employees. Source.
In the UK Revolut has rolled out a peer to peer payments feature called “Near Me” which lets their users...
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FTX US (West Realm Shire Services Inc.), a digital asset marketplace affiliated with fast-growing crypto exchange FTX Trading, says it has finalized its acquisition of Ledger Holdings Inc., the parent company of LedgerX LLC. The FTX said it has also rebranded LedgerX to FTX US
Funding Circle’s SME Income Fund has closed a funding deal with Citibank; according to the AltFi, “Under the terms of the agreement Citibank London will provide £50m of funding into the transaction, by entering into a senior, floating rate loan. The fund will contribute a portfolio of existing UK small business loans at par, and in return shall receive ?the approximately £50m of cash to be deployed in accordance with its investment policy, and junior notes.” Source
The settlement totaled $2 million with a Massachusetts banking regulator stemming from claims of making unlicensed loans; LendingClub made over 46,000 loans in the state since 2011 after surrendering their small loan company license; according to a LendingClub spokesperson, “We worked cooperatively with the State of Massachusetts to resolve a licensing dispute. Resolving this is another step in putting the legacy issues behind us and moving forward to concentrate on building the business. There will be no disruption to any operations as a result of this resolution, and we look forward to continuing to provide attractive financing opportunities to residents, patients and students in the State of Massachusetts.” Source
Lendingcalc.com and PUFIN have filed for a patent on a system that would use blockchain technology to give loans unique indentifiers, like CUSIPs; the system could help with greater market transparency; Lendingcalc.com and PUFIN have begun plans for implementing their system as an open source option for the industry; other firms have introduced this concept with a fee-based system however Lendingcalc.com and PUFIN are marketing their system as free with no fees. Source
Marlette recently closed a $225 million Series E equity raise led by the Healthcare of Ontario Pension Plan.
Bitcoin (BTC) correlation to the NASDAQ has Increased to 57%, now a sustained reversal of risk-off trade last week: Report