Acorns is going public through $2B SPAC deal
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Fintech News Stories
Square takes on Amazon and other e-commerce rivals by partnering with Google
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Square is partnering with Google to offer sellers on its platform greater visibility.
Read MoreSen. Elizabeth Warren puts Chase CEO Jamie Dimon in hot seat on overdraft fees
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Jamie Dimon, JPMorgan Chase CEO, along with bank CEOs of the five other largest banks in the U.S., testified before the Senate Banking Committee on Wednesday, May 26. A focus was overdraft fees, which banks continued to charge during the pandemic despite additional flexibility from regulators.
Read MorePayPal and Venmo users will soon be able to send crypto to each other and to external wallets
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PayPal’s head of blockchain and crypto, Jose Fernandez da Ponte, announced that Paypal and Venmo users will be able to send bitcoin and other cryptocurrencies to one another and to other apps.
Read MoreHSBC says it won’t offer clients bitcoin, citing volatility and a lack of transparency
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HSBC, a global bank with nearly $3T in assets, has decided not to offer bitcoin-related products and services to clients, bucking the trend of other large banks and traditional financial companies that are warming to digital assets, including JPMorgan Chase and Wells Fargo.
Read MoreSquare to roll out checking and savings accounts for business customers
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Square is quickly expanding its territory beyond payments. The firm, which obtained a bank charter in March, is reportedly on the cusp of offering checking and savings accounts for its small-business customers.
Read MoreMerrill Lynch Wealth Management nixes cold calls from adviser training
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In an apparent nod to digital-centric customer behaviors, Merrill Lynch Wealth Management is no longer making cold calls a part of its training program for incoming brokers.
Read MoreAfter entering the US, Australian ‘buy now, pay later’ firm Zip is using a similar playbook in Europe and the UAE
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Zip Co, an Australia-based ‘buy now, pay later’ (BNPL) company, is in a race against rivals Klarna and Afterpay to capture as much global market share as quickly as possible.
Read MoreActing Comptroller of the Currency Michael Hsu signals greater oversight on fintech charters
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In testimony before the House Financial Services Committee this week, acting Comptroller of the Currency Michael Hsu suggested fintech charters may be looked at more closely.
Read MorePersonal finance app Eco hedges its bets on crypto’s fortunes
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Eco, a personal finance app that takes deposits and offers savings accounts paying 2.5-5% interest, appears to undertake a lot of banking activities without positioning itself as a bank or a cryptocurrency firm.
Read MoreBitcoin value drops to lowest price since February, with ripple effect on other coins
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Bitcoin hasn’t been declared dead, but a decline in value is causing some pullback among investors and affecting the value of other digital currencies such as ether, dogecoin, and XRP.
Read MoreRecurring revenue trading platform Pipe raises whopping $250M
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Pipe, a Miami-based company that lets companies sell their recurring revenue streams on its platform, raised $250M, bringing its valuation to $2B a year after its launch.
Read MoreFidelity launches no-fee teen brokerage accounts
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In an effort to lock in teen business before they seek out competitors when they turn 18 (aka Robinhood and apps like it), Fidelity is offering teens aged 13 to 17 debit cards, and investment and savings accounts.
Read MoreSoFi to trade on Nasdaq under ticker “SOFI”
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Social Capital Hedosophia Holdings Corp. V (IPOE), the Chamath Palihapitiya-linked special-purpose acquisition company, has outlined next steps for its merger with SoFi, a deal that will take the 10-year-old fintech public.
Read MoreWells Fargo launches 10-year strategy to reach unbanked consumers
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Wells Fargo is launching a 10-year initiative to bring unbanked and underbanked Americans into the financial system.
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