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Fintech Focus Roundup For March 7, 2021

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Aston Martin Cognizant Formula One Team, Crypto.com Announce Partnership
Ahead of its 2021 Formula One car launch, the Aston Martin Cognizant Formula One Team announced it signed a multi-year deal with Crypto.com, to collaborate on exclusive experiences.

Crypto.com is a fast-growing cryptocurrency platform serving more than 10 million worldwide customers. The company’s core products also include a Visa card and DeFi wallet.

“As we prepare for the start of the new season, I am delighted to welcome Crypto.com as a global partner of Aston Martin Cognizant Formula One Team,” said Lawrence Stroll, Chairman, Aston Martin Cognizant Formula One Team.

“I am very impressed by the vision of the Crypto.com management and the tremendous speed at which their platform is growing. I am sure this partnership will bring a fresh perspective to both our businesses and introduce both brands to new audiences. We are proud of our heritage, but as this deal shows we are also a very modern team.”

Fintech Spotlight: Meet Archax, The First Regulated UK Digital Securities Exchange
In recent months, cryptocurrency attracted the interest of both financial institutions and government entities, evidenced by Goldman Sachs Group Inc’s move to reopen its cryptocurrency desk and Miami Mayor Francis Suarez’s push to make bitcoin a part of his city’s future.

In light of the demand for a regulated, institutional-grade solution to facilitate digital asset trade, Benzinga chatted with Simon Barnby, CMO at Archax, an exchange for asset-based tokens.

Key Takeaway: “The concept behind Archax is to build an ecosystem, starting with a regulated exchange, which is all about bringing the benefits of crypto, blockchain, and tokenization to the traditional financial markets space,” the CMO said.

Jack Henry & Associates, Stackfolio To Provide Simplified Digital Experiences
Jack Henry & Associates, as part of a vision to expand the depth and breadth of its fintech product portfolio, acquired Stackfolio.

In a statement, Jack Henry & Associates said, “Stackfolio joins a financially sound, service-focused technology company that since 1976 has provided the products and services diverse financial institutions need to respond to business opportunities and resolve operational challenges. Our products and services support approximately 9,000 clients and are currently delivered through three primary brands.”

Stackfolio will become a part of the Jack Henry Lending and ProfitStars brand.

Fintech Spotlight: How Businesses Can Leverage Blockchain, NFTs For Added Value
In light of the blockchain, tokenization, and Web 3.0 revolution, as consumers and producers look for new ways to assign and transfer value, non-fungible tokens (NFTs) have become a hot topic as of late.

In understanding how blockchain can be used to create an incentive-driven, ownership economy, Benzinga chatted with Adi Sideman, founder at Props, a company creating equitable media ecosystems.

Key Takeaway: “Our thesis is that cryptocurrencies and blockchain are ushering a revolution,” Sideman noted. “99% of all apps today will want to take advantage of the power that blockchain and cryptocurrency are unleashing, but are not necessarily going to want to re-engineer their entire business model.”

UWM CEO Talks Reddit-Fueled Stock Volatility, Russell Inclusion
In light of the volatility impacting stocks in the mortgage space like Rocket Companies Inc and UWM Holdings Corporation, fueled in large part by commentaries on online forums like Reddit's WallStreetBets, Benzinga spoke with Mat Ishbia, CEO at United Wholesale Mortgage.

Key Takeaway: "Maybe some of them will take time to learn our story, and that will help them save money on their mortgage in the future," he said. "Other than that, I don’t think it has any implications besides being interesting to watch."

 

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Posted-In: Adi Sideman Archax Aston Martin Crypto.com Jack Henry & Associates Mat Ishbia NFTFintech