Fintech Focus For July 30, 2021

Quote To Start The Day: "Risk more than others think is safe. Dream more than others think is practical.”

Source: Howard Schultz

One Big Thing In Fintech: A Senate proposal to ramp up IRS surveillance over cryptocurrency transactions has the industry and investors questioning the plan’s viability and its promise of generating $28 billion in tax revenue.

Source: Bloomberg

Other Key Fintech Developments:

• Google Pay using Marqeta’s tech.
• State Street, Lukka partnered up.
• Ergo, Neocova honing efficiencies.
• Valar Ventures leads Vauld round.
• Prepaid2Cash adds $5.1M round.
• Amadeus, Hopper eyeing fintech.
• LendingPoint closes big issuance.
• Democrat intros a digital asset bill.
• Mobile bank adoption grows fraud.
• Pencilton raises $330K pre-seed.
• Prime Trust raises $64M Series A.
• MUFG launches second VC fund.
• Swift honing its international offer.
• Trulioo unpacked fraud landscape.
• GTBank will launch its own fintech.
• PayPal eyes DeFi, smart contracts.
• IPOs reveal Gen Z banking vision.
• NYC launches fintech challenges.
• Why to celebrate Robinhood IPO?

Watch Out For This: President Joe Biden will require federal workers to prove they’ve been vaccinated against Covid-19 or wear masks and submit to frequent coronavirus testing as the highly contagious delta variant is causing cases to spike in the U.S.

Source: Bloomberg

Interesting Reads:

• Johansson filed a suit over Disney.
• Citadel would buy Robinhood app.
• Gupshup raises for messaging tech.
• Nikola founder indicted over fraud.
• VTOL craft upending local air travel.
• Uber offers free language courses.
• Amazon Q2 falls short of estimates.

Market Moving Headline: Powell hinted that the Fed has already reached one out of two targets and that full employment and inflation “moderately exceeding the 2% target” are not prerequisites for a taper decision. Interesting months are upcoming.

Source: Nordea