Fintech Focus For June 23, 2021

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Quote To Start The Day: “Amazon is the most formidable. If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”

Source: Alex Rampell

One Big Thing In Fintech: While headlines from the blockchain industry have recently been dominated by Bitcoin, the biggest story in the space has still largely been overlooked (or missed) by most news outlets: the rise of DeFi, or Decentralized Finance.

Over the last year, a “decentralized Wall Street” has emerged, with users locking up over $50 billion worth of assets into applications that are replicating traditional financial products on decentralized blockchain infrastructure.

Source: Nasdaq

Other Key Fintech Developments:

  • Liti Capital announces token launch.
  • Deutsche, Fiserv have partnered up.
  • The battle rising in European fintech.
  • Toss secured $406M at $7.4B value.
  • Rewards program for rent payments.
  • TrueLayer launches verification API.
  • MAJORITY raises $19M seed round.
  • Fifth Third acquires fintech Provide.
  • TT adds Cboe trading functionalities.
  • Fundbox added to board of directors.
  • Tabby taps $50M financing to grow.
  • Myos raises $30M Series A funding.
  • Moneycorp unveils enhanced APIs.
  • Blockchain Capital added new funds.
  • Zeller lands $50M AUD led by Spark.
  • Tradefeedr adds FX trading database.
  • Mollie secured $800M for payments.
  • Bueno Finance secured $3M funding.
  • Magma added Obsidian quant fund.
  • Egypt laws will spark fintech growth.
  • Nonbank lenders tackled mortgages.
  • Banks, credit unions lend to pot firms.
  • CommerceIQ closes $60M Series C.
  • State Street, Canoe have partnered.
  • JPMorgan outlines visions for future.
  • Unpacking Amazon’s fintech visions.
  • Discover moves into crypto with hire.
  • Third Point leads CipherTrace round.
  • NCR is reinventing ATM technology.
  • Rivalry secured $22M funding round.
  • Sporttrade secured $36M for betting.

Watch Out For This: With consumption habits of younger and older Americans moving in opposite directions, advertisers and media companies will likely need a clear understanding of their target audiences in order to be successful.

Interesting Reads:

  • Delta variant gaining across the US.
  • Canadians looking to regulate media.
  • Oil could reach $100/barrel next year.
  • Is inflation or deflation the bigger risk?
  • Automation increase unemployment?
  • Morgan Stanley requires vaccination.
  • Which VC-backed SPACs will come?

Market Moving Headline: Federal Reserve Chair Jerome Powell said the price increases seen in the economy recently are bigger than expected but reiterated that they will likely wane.

Source: Bloomberg

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Posted In: FintechBueno FinanceCommerceIQDeFideltaFiservJPMorganMagmaMollieMorgan StanleyNASDAQNCRRivalrySPACsSporttradeState Streetthird pointTradefeedrTruelayerZeller
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