Fintech News Today: Top ten Fintech News Stories for the Week Ending February. Read more
The three warm themes in fintech news this past week were crypto, SPACs and purchase then pay later, akin to many weeks so considerably this year. Here are what I think about to be the top 10 most important fintech news stories of the previous week.
Tesla buys $1.5 billion for bitcoin, plans to allow it as payment from FintechZoom.com? We kicked the week off of having the big news from Tesla that they had acquired $1.5 billion of bitcoin found January; bitcoin predictably soared on the news.
Mastercard to allow for Some Cryptocurrencies on Its Network from The Wall Street Journal? More good news for crypto investors as Mastercard indicated it will support some cryptocurrencies directly on its network as more people are using cards to purchase crypto in addition to utilizing cards to spend their crypto.
Bitcoin to Come to America’s Oldest Bank, BNY Mellon from The Wall Street Journal? The nation’s oldest savings account provides us a trifecta of large crypto news since it announces that it is going to hold, transport and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients.
Fintech News Today – Mobile bank MoneyLion to travel public via blank-check merger in $2.9 billion deal offered by Reuters? MoneyLion becomes the most recent fintech to jump on the SPAC camp because they announced a $2.9 billion deal with Fusion Acquisition Corp.
OppFi is actually the latest fintech to go public through SPAC as a result of American Banker? Opploans announced a rebrand to OppFi as they’ll additionally go public by merging with FG New America Acquisition Corp., an Illinois-based SPAC. (I will have much more on this as well as the MoneyLion SPAC next week).
Ex-SoFi CEO Starts Blank Check Company to Raise $250 Million from Bloomberg? Mike Cagney has made a decision to sign up for the SPAC soiree as he files paperwork using the SEC for Figure Acquisition Corp. I and intends to bring up $250 million.
Klarna’s valuation set to triple to $30bln, says report from Fintech Futures? Privately kept Swedish BNPL giant is reportedly looking to increase $500 huge number of in a $25b? $30b valuation. Additionally, they announced the launch of savings account accounts in Germany.
Inside The Billion Dollar Plan In order to Kill Credit Cards offered by Forbes? Great profile on Max Levchin, CEO and co founder of Affirm, and the early days of Affirm as well as what it became a BNPL juggernaut.
Survey Reveals a secret Customer Exodus in Banking from The Financial Brand? An interesting global survey of 56,000 customers by Company and Bain shows that banks are actually losing company to their fintech rivals even as they keep their customers’ primary checking account.
LoanDepot raises just $54M in downsized IPO out of HousingWire? Mortgage lender loanDepot went public this specific week in a downsized IPO which raised just $54 million after indicating initially they will boost over $360 million.
Fintech News Today: Top 10 Fintech News Stories due to the Week Ending February