Fintech Focus For July 21, 2021

Quote To Start The Day: “The bravest sight in the world is to see a great man struggling against adversity.”

Source: Seneca

One Big Thing In Fintech: DeFi builds on three major waves of blockchain innovation across the last decade, each of which began with deep skepticism and has since progressed to acceptance and adoption.

Source: Future

Other Key Fintech Developments:

  • Titan added $58M Series B round.
  • Nasdaq spins out pre-IPO trading.
  • Mastercard enhances crypto offer.
  • Square added bank, savings offer.
  • 4K added $3M for an NFT market.
  • TT connecting to new exchanges.
  • ProNvest intros a fintech platform.
  • Veem intros new product offering.
  • Pillar VC closes $192M for funds.
  • Venmo cut out global, public feed.
  • Payveris introduced P2P platform.
  • Centime, First National partnered.
  • FTX closes $900M funding round.
  • Nasdaq to expand ESG data hub.
  • Zumper modernizes rental market.
  • Capchase taps funds, intros BNPL.
  • LedgerEdge taps RBC leadership.
  • Vestwell adds new $70M Series C.
  • Neon deploying its tech on Solana.
  • Fidelity hones in on fintech efforts.
  • OpenSea added $100M Series B.
  • Silvergate posting strong quarters.

Watch Out For This: Startups are on an acquisition spree buying other startups, as the 268 acquisitions of venture-backed companies by other VC-backed companies from January to mid-July is the highest level in that period of the past decade. The last time the numbers approached those levels was 2016, when there were 204 acquisitions of VC-backed companies by other VC-backed companies.

Source: Crunchbase

Interesting Reads:

  • SoFi alums build aid for founders.
  • Tesla taps owners to test software?
  • US sees chip supply gains, relief.
  • Delta variant in 83% of new cases.
  • Biden nominates big tech enemy.
  • Instagram beefs content screening.
  • Jeff Bezos celebrates space flight.

Market Moving Headline: We still expect Equities to outperform bonds and cash and believe that this remains the largest risk management decision in a multi-asset portfolio. Portfolio allocations during this period should continue to emphasize balance across and within asset classes.

Source: Merrill

Posted In: FidelityFTXJeff BezosLedgerEdgemastercardNASDAQOpenSeaRBCSilvergateSoFiSquareTeslaTitanTrading TechnologiesVenmoZumperFintech

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