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Market Overview

Fintech Focus For February 26, 2021

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Quote To Start The Day: “The time to settlement equals counterparty risk, which can become elevated during market shocks. It can also lead to the need for higher margin requirements, which are critical to protecting the financial system and investors against a firm default.”

“We have been working collaboratively with a wide cross–section of the industry to build support for further shortening the current settlement cycle over the past year, and we have outlined a plan to increase these efforts to forge consensus on setting a firm date and approach to achieve T+1.”

Source: Murray Pozmanter

One Big Thing In Fintech: Crypto exchange unicorn Coinbase's S-1 registration statement filing with the U.S. Securities and Exchange Commission -- a crucial step toward its bid for a direct stock listing on Nasdaq -- is now available to the public.

Source: The Block

Other Key Fintech Developments:

  • Zelf raises $2M in pre-seed funding.
  • Boson, Crucible partner on rewards.
  • NatWest eyeing open banking tech.
  • Petal taps $127M round for growth.
  • App-only bank Atom looks to raise.
  • Goldman, Nasdaq, BoA look to ATS.
  • LEVERJ has launched index future.
  • Western Union grows payment tech.
  • JPM tests blockchain functionalities.
  • Step surpasses 1M users in months.
  • Homebuying startups witness boom.
  • Roomi to introduce the Props token.
  • Finicity added MVS for originations.
  • ODX, Fundation combine business.
  • FINOS eyes open banking initiative.
  • Varo Bank intros credit building tech.
  • MX adds Audience Builder segment.
  • FinTech Sandbox hosts virtual talks.
  • Plastiq, Ramp team on credit cards.

Watch Out For This: Although millennials have more money in savings, they’re anxious and stressed about home buying — especially because they’re still unable to afford a traditional 20% down payment.

Source: Clever

Interesting Reads:

  • Charting global energy access, use.
  • Biden’s tax hike may stifle recovery.
  • Twitter takes on Substack, Patreon.
  • Nasdaq unpacks what is core data.
  • Otter.ai raises $50M in new funding.
  • The mail trucks that weren’t chosen.
  • Does NY need an all-night subway?

Market Moving Headline: ARK’s illiquid holdings are problematic because if ARK ever faced outflows, or the threat of potential outflows, hedge funds could take predatory short positions in ARK’s illiquid holdings and create a performance death spiral. A review of ARK’s illiquid holdings shows that could be happening.

Source: The Bear Cave

 

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Posted-In: ARK Invest ATS Bank of America Boson Clever Coinbase CrucibleFintech