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Market Overview

Fintech Focus For March 19, 2021

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Quote To Start The Day: Biden’s remarks in the ABC interview that aired Wednesday has triggered a furious reaction from Russia’s government, which unleashed a barrage of criticism and took the extraordinary step of recalling its ambassador back to Moscow for "consultations" over the comments.

In the interview, Stephanopoulos asked Biden if he thinks Putin “is a killer.”

“Mmm hmm, I do,” Biden responded.

Before issuing the discussion challenge, Putin reacted to Biden’s comment earlier with a playground retort: “I know you are, but what am I.”

“You know, I remember, in childhood, when we were arguing with each other in the courtyard, we would say, ‘I know you are, but what am I,’” Putin said. “And that’s no accident. It’s not just a childish saying. There is a very deep meaning in that.”

Source: ABC

One Big Thing In Fintech: Payroll data is a tremendous resource upon which fintechs and financial services providers can build better experiences for consumers and, at the same time, enable consumers to benefit more from their financial data.

But enabling access to payroll data isn’t as easy as flipping a switch. And we can’t build better experiences without a simple and trusted process for consumers. This is where open banking comes in. Open banking platforms can unlock payroll data, but such data access has to be done the right way with a consumer-centric model that ensures successful connections and collection of data.

Source: Finicity

Other Key Fintech Developments:

  • Fireblocks taps $133M for tech.
  • OpenSea raises $23M Series A.
  • CFTC added a climate risk unit.
  • Salary Finance secures $150M.
  • METACO added AAVE support.
  • How banks can raise rankings?
  • Tradier acquiring a trading app.
  • Rapyd added a Miami initiative.
  • Basiq, Pocketbook teaming up.
  • Arca, Signature Bank partnered.
  • Maple Finance closes on $1.4M.
  • Wyoming’s ‘DAO law’ is passed.
  • JAG issues insurance via crypto.
  • Republic added $36M Series A.
  • Ant leads blockchain innovation.

Watch Out For This: U.K. health authorities warned on Wednesday that the country would face a severe shortage of COVID-19 vaccines in April, as the European Commission threatened to trigger emergency controls on the production, distribution and exports of the shots.

Source: MarketWatch

Interesting Reads:

Market Moving Headline: The SPAC trend is catching on in Europe, with increased interest from sponsors, investors and potential target companies. “2021 is going to mark the emergence of European SPACs,” said Aloke Gupte, Co-Head Equity Capital Markets, EMEA. “We expect this to take shape as either U.S.-listed SPACs by European management teams targeting Europe, or Europe-listed SPACS and regional investment.”

Initial SPACs in the region will have a first-mover advantage to capture investor attention given the lack of competition.

“As European SPACs become prevalent, they will serve as a highly interesting mechanism for some private companies that find listing through a SPAC a more efficient and effective process than the traditional IPO,” said Gupte.

Source: JPMorgan

 

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