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This week’s edition of Finovate Global highlights recent fintech news from Singapore. Monetary Authority of Singapore announced plans to invest $74.36 million (100 million Singaporean dollars) to fund quantum computing and AI projects. The funding is part of the Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0) designed to support banks and other financial Read more…
French bank BNP Paribas announced this week it has teamed up with Ant Group subsidiary Ant International. The two agreed to work together on four projects to help BNP Paribas foster its digital payment initiatives. For the first collaboration, BNP Paribas will work with Ant International’s Alipay+, a cross-border mobile payment solution. The partnership will Read more…
We’re starting off the newsweek with a bang as Bain Capital announces that it will take wealthtech and Finovate alum Envestnet private in a deal valued at $4.5 billion. Be sure to check back all week long with the latest fintech news and headlines. Crypto / DeFi / Web3 Payment orchestration platform FinMont partners with Read more…
Partnerships in digital banking, identity management, and payments lead off the fintech news headlines as July begins in earnest. Be sure to check back all week long for updates and fresh announcements on the latest industry happenings. Payments AFFIN Bank turns to ACI Worldwide to modernize payments for businesses in Malaysia. Dispute management and collections Read more…
Hours after I published a piece mourning the lack of application of the blockchain in fintech, I get to report on some news that proves me wrong. Digital stock brokerage app Robinhood has agreed to acquire digital currency marketplace Bitstamp for $200 million in an all-cash deal. U.K.-based Bitstamp has offices in Luxembourg, the U.K., Read more…
The U.S. House of Representatives wanted it. The Senate wanted it. Much, if not all, of the cryptocurrency industry wanted it. But on Friday, President Biden made good on his threat to veto a resolution that sought to loosen regulations regarding how financial institutions hold digital assets on their balance sheets. “My administration will not Read more…
PayPal’s stablecoin, PayPal USD (PYUSD), was officially added to the Solana Blockchain last week. This shift comes after the California-based company launched on Ethereum blockchain last summer. Now, PayPal stablecoin users can send PYUSD on Ethereum or Solana when transferring out to external wallets. “For more than 25 years, PayPal has been at the forefront of digital commerce, Read more…
With neobank Monzo’s big investment and multi-billion dollar valuation on one side and the continued woes of BaaS provider Synapse on the other, “interesting times” continue to characterize the fintech landscape as we slide into the summer months. Be sure to check our Fintech Rundown all week long for the latest updates and fintech headlines. Read more…
Denmark-based white-label tokenization platform for real estate DigiShares has partnered with Czech online real estate investing platform InvestBay. Courtesy of the partnership, InvestBay will integrate DigiShares’ white label, real estate tokenization technology with its own platform that facilitates fractional property investments. “We build InvestBay in such a way that it is similar to real ownership Read more…
Cloud-based billing and payment platform Paystand announced this week it has agreed to acquire expense management platform Teampay. Financial terms of the agreement were not disclosed. The strategic move marks the California-based company’s second acquisition. Paystand purchased procurement platform Yaydoo in 2022. Now, the company services more than one million companies. Teampay was founded in Read more…
A collaboration between digital payments platform CiNKO and cryptocurrency cash exchange Coinme is designed to boost access to digital assets for millions around the world. Courtesy of the partnership, Coinme customers will be able to send funds to CiNKO wallets and pick up cash from participating MoneyGram outlets in Latin America and the Caribbean. “Our Read more…
Innovative technologies are proliferating. From the renewed excitement around cryptocurrencies and blockchain technology to the challenges and opportunities of AI, individuals and organizations alike are discovering novel ways to live, learn, and earn. Banks, financial services companies, and fintechs are no exception – which makes us all the more excited to feature futurist, digital anthropologist, Read more…