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Market Overview

Fintech Focus For October 22, 2020


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Quote Of The Day: When we strive to become better than we are, everything around us becomes better too. - Paulo Coelho

Fintech Movers: Coinbase received 1,914 requests for information in the first six months of 2020 alone. Nearly 60% of those came from state and federal agencies in the U.S.—primarily from the FBI, Homeland Security, and the DEA. - Coinbase

  • Neobanks up the game in US market.
  • JPM rolling out fintech, QuickAccept.
  • Virtu expands broker-neutral FX offer.
  • Stripe leads a $10M round for Pulley.
  • Fintech scene sees big surge in M&A.
  • Bond Connect launches ePrime tech.
  • Ant Group gets nod for its jumbo IPO.
  • BoE, CFTC establish new framework.
  • TORA integrated with MTS BondPro.
  • PayPal to offer cryptocurrency option.
  • Xformative adds modularity to finance.

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 fintech space.

Ahead of the November 10, 2020 event, this newsletter highlights disruptive innovators working to create positive and diverse change in financial services.

Today's disruptive innovator is Xformative, a modern issuer processor payment platform.

For a chance to make your mark on the future of innovation and be featured in this newsletter, check out our Global Fintech Awards! To meet the biggest names in fintech and discover emerging trends, get tickets here.

Watch For This: Take all the physical assets owned by all the companies in the S&P 500, all the cars and office buildings and factories and merchandise, then sell them all at cost in one giant sale, and they would generate a net sum that doesn’t even come out to 20% of the index’s $28 trillion value. Much of what’s left comes from things you can’t see or count: algorithms and brands and lists. - Bloomberg

  • Obama hits campaign trail for Biden.
  • US moving towards greater freedom.
  • Seattle cops quit on socialist agenda.
  • The irony of the Google antitrust suit.
  • Vaccine trials to continue after death.
  • US and Chinese economy divergent.


Market Moving Headline: St. Louis Federal Reserve Bank President James Bullard on Wednesday repeated his view that U.S. businesses are largely adapting to life amid COVID-19 and the U.S. economy is on track to better-than-trend growth even without further fiscal stimulus. - Reuters

  • Credit scores rose as economy tanked.
  • COVID complicates BRI debt squeeze.
  • Verizon profit beats estimates on WFH.
  • Netflix plans test of free access in India.
  • Quibi video app planning to shut down.
  • Pelosi may wait on stimulus till election.
  • Purdue pleads guilty on opioid practice.
  • Tesla trades higher on a record quarter.
  • Nikola rises as GM plans to back deal.

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Posted-In: Ant Group Bloomberg BoE Bond Connect CFTC Coinbase ePrimeFintech