According to a blog post by the company, the fund will provide. ”financing to promising early stage companies that have the teams and ideas that can move the space forward in a positive, meaningful way”; the company also said it will not invest in security tokens at this time; it is likely that the company is sitting on significant amounts of cash which put it in a good position to launch a fund; revenues in 2017 totaled over $1 billion; Bloomberg reported that the top ten largest crypto exchanges take in $3 million in fees per day. Source
News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.
Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.
To join our newsletter community please subscribe here.
IBM has joined the non-profit Sovrin Foundation which is looking to build a global decentralized identity system with blockchain technology; IBM will be a founding steward of the foundation and will be providing hardware, security and network capacity to further their cause. Source
Deposit accounts and debit cards will be available to some customers next month according to SoFi; the account will function like a checking account that will earn interest; the company recently shared that they were working with WSFS Financial Corp for the new product called SoFi Money. Source
During the week I share the latest marketplace lending and fintech news...
- ALGEBRAIX ANNOUNCES IT HAS COMPLETED PHASE ONE OF BETA TESTING ALX - ITS PERMISSION-BASED ADVERTISING PLATFORM AT LENDIT FINTECH USA 2018
- Automation Software from ACTICO runs the Fintech world
- Fintech startup CNote helps create over 1,000 jobs across America in less than one calendar year.
- CoinVantage Announces Release of Flagship Portfolio Accounting & Reporting System for Digital Assets
- CONTRACT SIMPLY ANNOUNCES PARTNERSHIP WITH STARCITY AT LENDIT FINTECH USA 2018
- Creditas publishes report on the Brazilian lending market
- Cross River Bank Demonstrates Key Growth, Makes Significant Personnel Hires
- Asset-Based Lending Market Alert: FinCryption.com Announces Licensing Agreement with FirstBCH.com at LendIt Fintech USA 2018
- First Associates Launches Call Center Support Services
- HARVESTING INC LAUNCHES AI BACKED CREDIT RISK SYSTEM FOR AGRICULTURE LENDERS
- IDVALIDATION SHOWCASES GOVERNMENTAL VERIFICATION SOLUTIONS FOR LENDERS AT LENDIT FINTECH USA - 2018
- Intrinio Accepts 150th Start-Up into its Fintech Incubator
- Intrinio Partners with Cryptoquote to Provide Real-Time Cryptocurrency Data
- LENDIO ANNOUNCES LENDER TURNDOWN PROGRAM AT LENDIT FINTECH USA 2018
- LENDR ANNOUNCES THE LAUNCH OF ITS BUSINESS DEBIT CARD AT LENDIT FINTECH USA 2018
- Best Egg Exceeds $5B and Celebrates Four Years in Business
- Nav Launches First-of-Its-Kind Cash Flow Analysis Tool for Small Business Owners
- Nova Credit Partners with Transunion Canada to Expand Immigrant Financial Access across North America
- Ocrolus Secures $4M in Series A Funding to Automate Financial Document Reviews
- PENSCO Launches Custodian Connect, the First API-Driven Solution with ACATs and Digital Consent for Marketplace Lending and Investment Platforms to Connect to Retirement Funds
- RCN AT LENDIT FINTECH USA 2018 - A peer-to-peer global credit network protocol based on cosigned smart contracts and blockchain technology.
- Scienaptic releases significant product enhancements to its credit underwriting product ‘Ether Underwrite’ at LendIt Fintech USA 2018
- SYMMETRY BLOCKCHAIN ADVISORS PARTNERS WITH CHAIN ADVISORS
- TCI to Conduct Live Demonstration of DecisionLender 4 at LendIt Conference
- THE AXIOM GROUP ANNOUNCES $50M IN FUNDING AVAILABLE TO PURCHASE CHARGE OFF PORTFOLIOS; WILL BE MEETING WITH POTENTIAL FINTECH SELLERS AT LENDIT FINTECH USA 2018
- THINK WALLET REVEALS SCALABLE SOLUTION TO REDUCE FUNDING COST OF PERSONAL LOANS
- Turnkey Lender Announces a Free Edition at LendIt Fintech USA 2018
- VALIDIS INTRODUCES ITS NEXT MAJOR RELEASE AT LENDIT FINTECH USA 2018
- FUTUREBANK DIGITAL AND API BANKING PLATFORM INTEGRATES ENTERSEKT’S SECURE CONNEKT PAYMENT FUNCTIONALITY AT LENDIT FINTECH USA 2018
- Prezzta - Prezzta Soluciones launch AT LENDIT FINTECH USA 2018
- SLICE USING CRYPTOCURRENCY OFFERING TO SELL SHARES OF CHELSEA, MANHATTAN LUXURY DEVELOPMENT
- Spring Labs Announces World Class Industry Advisory Board to Help Build Decentralized Credit and Identity Validation Network
- MedZERO Launches in Salt Lake City in Partnership with Asserta Health
- AUTOGRAVITY EXPANDS VEHICLE FINANCING OPTIONS TO INTERNATIONAL STUDENTS THROUGH A NEW PARTNERSHIP WITH WESTBON
- FINITIVE LAUNCHES ALTERNATIVE LENDING INVESTMENT PLATFORM WITH $1.3 BILLION OF INITIAL TRANSACTION VOLUME
- Intrinio to Release API v2, Making Financial Data Even More Accessible
- NELNET EXPANDS LOAN SERVICING OFFERINGS TO MEET DEMANDS OF FINTECH LENDERS
- NSR Invest secures growth financing with FinSight Ventures
- Quovo Launches New Products to Improve Lending Value Chain at LendIt Fintech USA 2018
- TransUnion Boosts Entrepreneurial Innovation with new Startup Credit Kit
- Upgrade, Inc. Introduces Personal Credit Line
- Vizolution Launches North American Business at LendIt Fintech
- MoneyLion Announces the Big Alternative to the Big Bank
- LendingPoint To Accept Loan Payments and Disburse Loans via Debit Cards
- MedZERO Launches in Salt Lake City in Partnership with Asserta Health
According to a report in Bloomberg online small business lender Kabbage is getting set to acquire Orchard. The companies have not yet confirmed and the cost of a potential deal is also not known. Source.
Goldman Sachs has acquired personal finance app Clarity Money as it continues to build out their consumer focused brand. Adam Dell, founder of Clarity Money, will become a partner at Goldman as a result of the deal. Source.
Mastercard filed a patent with the U.S. Patent and Trademark Office to build a product meant to safeguard identity data. The product is a semi private blockchain used to receive and store identity data like address, tax ID number and more. Source.
Stash has partnered with Green Dot to help deliver debit cards with no overdraft fees and provide access to a network of free ATMs across the U.S. The app will also help improve customers financial lives and provide advice. Source.