This week we realized that the SEC is seeking to increase its enforcement actions towards crypto, Stripe is nearing the shut of its monster spherical, Goldman is being probed by extra regulators, India and Singapore are linking their immediate fee programs and Inexperienced Dot is partnering with fintechs to assist them with money transactions. Listed below are what I take into account to be the high ten fintech information tales of the previous week.
Stablecoins Entice Scrutiny in SEC’s Drive to Management Crypto from The Wall Road Journal – The SEC just isn’t happy with its present enforcement actions within the crypto house so it’s now planning to focus on stablecoins. In keeping with securities attorneys, that is going to be a harder row to hoe than their earlier efforts.
Stripe’s Seek for Billions Nears an Finish, However It Hasn’t Been Straightforward from The Info – Stripe has been within the information each week recently as extra info retains leaking out about this huge funding spherical, a Collection I. In keeping with The Info, the fintech chief is near lining up $4 billion in funding commitments.
Goldman Sachs Discloses Expanded Probe Into Its Credit score-Card Enterprise from Bloomberg – In a regulatory submitting on Friday Goldman Sachs disclosed that the probe into its bank card enterprise has expanded past the CFPB to incorporate different authorities companies.
India and Singapore hyperlink UPI and PayNow in cross-border funds push from TechCrunch – India and Singapore have linked their digital funds programs, UPI and PayNow. With round $1 billion in annual cross-border transactions, this isn’t an enormous funds hall however it does sign the form of issues to come back. Eight banks from Singapore and India are collaborating within the launch.
Inexperienced Dot Sees Demand From Unbanked Money-Paying Clients from PYMNTS – The underserved populations on this nation nonetheless rely disproportionately on money funds. Now, Inexperienced Dot is searching for to leverage new fintech partnerships to assist it serve this group. Its latest companions embrace Broxel, Greenwood and Paymentus.
Sam Bankman-Fried Hit With Further Financial institution Fraud Costs in New Indictment from CoinDesk – The information retains getting worse for FTX founder Sam Bankman-Fried. He has been hit with a brand new set of federal fees involving financial institution fraud and working an unlicensed cash transmitter.
The place Banks Will Make investments Their 2023 Expertise Budgets: AI, APIs, CRM from Forbes – Ron Shevlin shares a number of the findings from the annual What’s Going On in Banking examine from Cornerstone Advisors. Banks say they are going to be focusing their expertise spending on 5 areas in 2023: conversational AI, business digital banking, CRM, real-time funds and APIs.
Wall Road Banks Are Cracking Down on AI-Powered ChatGPT from Bloomberg – The banking trade just isn’t taking kindly to ChatGPT. First, it was JPMorgan and now Financial institution of America, Citi, Goldman Sachs, Wells Fargo and Deutsche Financial institution have all mentioned they are going to be banning using the AI software by workers.
Cross River exec named CEO of American Fintech Council from BankingDive – One of many main fintech commerce associations, the American Fintech Council, has been with out a chief for a number of months. This week we realized that fintech veteran, Phil Goldfeder, might be leaving Cross River subsequent month to take the CEO function.
Fintech Earnings Season Continues with Coinbase and Block from Fintech Nexus – We proceed to cowl earnings for most of the main fintechs. This week Coinbase reported fairly dismal earnings however have been above analysts’ low expectations and Block reported one other stable quarter, additionally beating expectations.
Each Thursday afternoon, the Fintech Nexus Information group and a particular visitor talk about the information of the week dwell on YouTube, LinkedIn, and Twitter. Now we have now made the present obtainable in podcast format – click on on the audio participant under.
