Fintech Nexus Newsletter

When we covered the BlackRock announcement last week of their new tokenized treasuries fund I thought it was a big deal. One week in, this new investment vehicle (ticker symbol BUIDL) is proving to be quite popular. On-chain data shows that $245 million worth of BUIDL shares are now held in seven different wallets. That is the beauty of blockchain data, everything is transparent.

Robinhood is still bullish on crypto despite the SEC warning the company it plans to sue over this part of its business. We learned yesterday that Robinhood will acquire crypto exchange Bitstamp for $200 million, making this its largest acquisition to date.

House Financial Services Committee Chairman Patrick McHenry (R-NC) announced yesterday that he will not be seeking reelection to the North Carolina seat he has held for almost 20 years. Over the years whether serving as the Committee Chairman or as the Ranking Member, he has been a tireless champion for financial innovation on the House Financial Services Committee.

When I first chatted with Mike Cagney back in 2011, when he was CEO of SoFi, it was clear he had big goals. His second act in fintech, Figure, quickly became a leader in home equity lending with all loans originated and processed through blockchain technology.

This year has not started well for loanDepot. We first heard the news two weeks ago that the mortgage lender had suffered a cyber attack that shut down critical systems.

BaaS fintech Synapse is having a rough year. Synapse and its clients need to be removed from Evolve's platform by December 31.

It has been a busy last few days for the CFPB and their fintech work. For the third consecutive day this week our lead story concerns actions taken by the CFPB. This time it is around BNPL. The CFPB is proposing new rules that would essentially lump BNPL in with credit cards when it comes to consumer protections.

Marqeta, having already made their mark as a debit card issuing partner, has launched a credit card issuing platform.

The Fed came back with a plan yesterday to debit card fees for merchants. Will it be too much for banks to handle?

By Isabelle Castro Margaroli For some time, we have been hearing about tokenization’s “trillion-dollar opportunity”. JP Morgan has taken a step...