Fintech Focus For March 17, 2021

Quote To Start The Day: To succeed in business you must learn the art of saying no.

Source: Barbara Corcoran

One Big Thing In Fintech: Owning a company’s stock drives brand loyalty and increases spending.

That’s according to a Columbia Business School study that analyzed transaction-level data from Bumped, a Portland-based fintech that rewards users with stocks from the brands and stores they buy from.

In further unpacking ownership and spending dynamics, Benzinga spoke with Bumped founder David Nelsen and vice president of corporate communications Amy Dunn.

Source: Benzinga

Other Key Fintech Developments:

• Socure closes on $100M in new funds.
• Blue Ridge Bank added crypto offering.
• BoJ begins digital currency experiment.
• Galileo accelerates LatAm expansion.
• Ikigai eyes banking and management.
• China races ahead with its digital yuan.
• FDIC innovation officer looks to impact.
• Envestnet enhances client portal, tech.
• eToro to go public via a SPAC merger.
• Revolut suspends Canadian operation.
• Nasdaq plans to host PureStream ATS.
• Ant Group leads globe in DLT patents.
• Early stimulus prep helped fintechs out.
• Crypto.com appoints new EVP of NFT.
• Paystand tackles payments innovation.
• Market maker B2C2 is adding product.

Watch Out For This: California is poised to issue the world’s first guidelines for microplastics in drinking water despite no data on how plentiful they are in the state, no scientific agreement on how to test water for them and little research on their health risks.

The pieces of plastic—smaller than an ant, some so tiny they can be seen only with a microscope—have contaminated wildlife and human bodies through their food, air and water.

Source: The Counter

Interesting Reads:

• Stor.ai raises $21M for online shopping.
• ARKK copycat beats Cathie by 10-fold.
• US border overwhelmed with migrants.
• Why COVID cases are rising in Europe?
• Did Vlad Putin order election meddling?
• Uber is paying drivers a minimum wage.
• Foxconn looks to US for a new EV plant.
• The dark side of gleaming skyscrapers.
• Ford grows Michigan robotics research.
• Bill Gross adds shorts, sells GME calls.
• The billionaire boom during coronavirus.
• Tripscout taps $2.3M for travel platform.

Market Moving Headline: With the global economy beating a clearer path out of the pandemic, focus turns to the Fed’s communications on Wednesday. Rates markets are positioned for a hike sooner than the central bank’s current guidance suggests, with rising inflation expectations boosting bond yields and sparking a rotation from growth to value stocks.

Source: Bloomberg