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Market Overview

Fintech Focus For July 20, 2020

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Daily Perspective: Things work out best for those who make the best of how things work out. - John Wooden

Fintech Movers: Schwab now manages a record $4.11 trillion in client assets from 14.1 million accounts, having added 1.62 million new clients during the quarter, but still managed to see weak revenue and net income numbers. - Axios

  • Neon to offer investment service.
  • UBS invests in Houzy’s home tech.
  • AxeTrading secures Series A fund.
  • Goldman shifts to Marquee platform.
  • Singapore DLT ready for adoption.
  • Revolut rolls out a crypto service.
  • SIX Group reveals Vestr investment.
  • Clearbanc launches valuation service.
  • Hummingbird finalizes $8.2M funding.
  • Dutch Central Bank licenses Flow.

Benzinga Global Fintech Awards Spotlight: 

Every year Benzinga, a leading news and data platform, holds the Global Fintech Awards, a day of dealmaking, networking, and recognition in the financial technology space.

Ahead of the November 10, 2020 event, this newsletter will highlight one disruptive innovator working to create positive and diverse change in the financial services space.

Today's disruptive innovator is Dough, a new way to invest.

For a chance to make your mark on the future of innovation and be featured in this newsletter, check out our Global Fintech Awards!


Watch Out For This: Testing will soon begin in poverty-stricken parts of Africa for a biometric ID which will also be your payment system and vaccine record. - ZeroHedge

  • Citadel has settled with the SEC.
  • Banning middle seats on airlines.
  • Berkeley to de-cop traffic stops.
  • You can now buy a 3D printed bike.
  • Florida could close down again.
  • Family pretends to fly for 15 hours.
  • Ferrari, McLaren to re-up in F1.

Image from Market Ear. 

Market Moving Headline: Up until the end of March, there was little divergence [but] since April, all of the S&P 500 up move appears to have happened during extended market hours. - JPM

  • Stock market update for the week.
  • Facebook intros TikTok competitor.
  • Economic opportunity and car tech.
  • Shadow lenders are growing fast.
  • Google invests $4.5B in Reliance Jio.
  • Uber buys Routematch software tech.
  • Tesla lands truck factory tax break.
  • Navistar, TuSimple to produce trucks.
  • E*TRADE approves Morgan merger.
 

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