Listed here are what I take into account to be the highest 10 most vital fintech information tales of the previous week.
Ant Group’s Chinese language IPO may very well be among the many largest in historical past from CNN – The world’s largest fintech firm, Ant Group (previously Ant Monetary), filed papers for an IPO in Shanghai and Hong Kong this week and it might develop into the most important IPO in historical past.
Mike Cagney launches blockchain for loan buying and selling. Will banks go for it? from American Banker – Determine launched its blockchain-based market for getting and promoting loans to supply extra transparency, decrease prices, proof of loan efficiency, simpler audits and provenance to loan consumers.
SEC Provides Extra Traders Entry to Personal Fairness, Hedge Funds from The Wall Street Journal – The definition of an accredited investor was modified this week for the primary time for the reason that 1980s. It’s a good first step however I’d have appreciated to have seen broader adjustments.
New blank-check firm from Bancorp founder lays groundwork for a fintech deal from CNBC – Ryan Gilbert, normal companion of Propel Enterprise Companions (a part of BBVA) has workforce up with the founding father of The Bancorp to kind a brand new SPAC.
Afterpay doubles revenue, pushing share costs to document excessive from Yahoo Finance AU – Afterpay reported full 12 months monetary leads to Australia by means of June 30 with A$11.2 billion in income from simply Australia and New Zealand gross sales up 52% from the earlier 12 months.
Metropolis First-Broadway merger would create largest US Black-led bank from Banking Dive – Metropolis First Bank, based mostly in Washington D.C. and Broadway Federal Bank, based mostly in Los Angeles, (each CDFIs) have introduced they may merge to create the nation’s largest black-led bank with $1 billion in property.
Banks aren’t as silly as enterprise AI and fintech entrepreneurs assume from TechCrunch – Whereas banks have definitely made errors because the tech revolution has hit finance, they’ve area experience and that’s some that’s usually underestimated by expertise firms.
Klarna, Europe’s $5.5 billion fintech, sees losses rise sevenfold within the first half from CNBC – Swedish buy-now-pay-later big, Klarna, launched their incomes for the primary half of the 12 months with a big improve in losses.
ConsenSys acquires JPMorgan blockchain platform Quorum from Banking Dive – Blockchain expertise agency ConsenSys has acquired the blockchain platform Quorum that was constructed in-house by JPMorgan Chase and has rebranded it ConsenSys Quorum.
The U.S. Wants Banking-As-A-Public-Service from Forbes – Good piece by Nik Milanovic. I discovered particulars of the outdated Postal Financial savings System I didn’t know. I agree we needs to be doing a greater job for the 55 million underbanked and a few type of authorities possibility may be the reply.