No summer doldrums for fintech news as this was a very busy news week. We had Plaid teaming up with Wise, problems at Marcus, another crypto platform in trouble, Figure has a new "banking in a box" product, the CFPB fines Digit and more.
The CEO of USDF Consortium, Robert Morgan, talks tokenized deposits, banking innovation, blockchain, regulation, CBDCs and more.
Another busy news week in fintech with the Celsius bankruptcy saga taking another turn. We also had news from Block's Square small business unit, SWIFT partnering with Chainlink, JPMorgan's UK bank celebrates one year and more.
Goldman Sachs leads off the news this week with some bad news and some good news. Step raised a huge debt round (eschewing equity), BNY Mellon is getting into crypto, which makes Custodia Bank very unhappy. And of course, there were plenty of crypto stories to round out the news.
The news was led by Goldman Sachs again this week as we learned the details of their restructuring. Mastercard is getting deeper into crypto, the CFPB is in turmoil, Voyager Digital customers may get 72% of their assets back and Chase is looking to move into small business payments.
Unreliability of blockchain networks and node downtime could restrict mass adoption of DeFi. Metrika could provide essential support.
A variety of fintech news this week with FTX reportedly raising $1 billion, Stash announcing they have built their own core, bidding for Voyager assets, Nasdaq launching crypto custody, Adyen partnering with Cash App and more.
Lots of news from or about the government this week with FSOC warning on the dangers of crypto, the White House laying out plans for AI and Congress giving up on crypto legislation for this year.
At Fintech Nexus' Merge 2022 event, the future of DeFi and DAOs was discussed. Lex Sokolin believes it is time for a new economy to be born.
At Fintech Nexus Merge, the panel discussion 'Creating On-Ramps and Off-Ramps Between DeFi and Traditional Finance' was a riveting discussion giving the audience a snapshot of how the convergence between DeFi and TradFi will happen