Stay up to date with the latest news from fintech! This week, we bring you updates and developments on payments, banking, partnerships, crypto, crowdfunding, cloud technology and more. Enjoy reading!
Twitter is launching a dedicated crypto team, part of its push toward decentralization (The Verge)
Twitter is building a new division for “all things blockchain at Twitter,” called Twitter Crypto, and has hired Tess Rinearson as the team’s engineering lead to “set the strategy for the future of crypto at (and on) Twitter,” the company said in a release this week. It will be exploring how ideas from crypto communities can help us push the boundaries of what’s possible with identity, community, ownership and more. Read more.
PayPal and Amazon to Enable Customers to Pay with Venmo at Checkout (Market Screen)
Amazon customers in the U.S. will be able to pay with Venmo for purchases on Amazon.com and the Amazon mobile shopping app next year. PayPal today announced that we will team-up with Amazon to allow Venmo’s more than 80 million users in the U.S. to pay with Venmo at checkout using funding methods that include their linked bank account and Venmo balance. Starting next year, customers will be able to make purchases on Amazon.com and the Amazon mobile shopping app in the U.S. using their Venmo accounts. Read more.
Huawei partners with Open Banking FinTech Neonomics (IBS intelligence)
Huawei continues to identify new routes for innovation in the financial services industry; it has announced plans to enable Open Banking services on AppGallery through a new partnership with Neonomics, the pure API platform provider. The partnership will boost AppGallery’s vision of driving innovation and providing better financial services to partners and customers: bringing digital financial services to every person, every home, and every organisation, for a healthy financial life through industry partnerships. Read more.
ESMA PUBLISHES TECHNICAL STANDARDS ON CROWDFUNDING (Esma)
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published a Final Report on technical standards (RTS and ITS) under the Crowdfunding Regulation (ECSPR). This marks an important milestone towards harmonising the new European crowdfunding regime. Read more.
Global registry launched to help financial institutions find fintech firms to work with (Straits Times)
Financial institutions (FIs) will soon find it easier to seek out fintech firms to work with, through a global fintech registry that is set to go live next month. The ChekFIN platform aims to help FIs identify and evaluate fintech companies for collaboration and development opportunities, said the Asean Financial Innovation Network (Afin). Read more.
Whale Cloud and Ant Group Join Force with Toka Fintech to Expand Inclusive Financial Services (BusinessWire)
Whale Cloud, a leading technology company providing software solutions and services for telecommunications and multiple other industries, reached a partnership with Toka Fintech, a Mexican-leading financial group, to help it develop its own digital payment app with Alipay+ Digital Wallet Solution, providing Mexicans with better access to inclusive financial services. Read more.
Online lenders buck the trend as fintech values fall (P2P Finance News)
The valuations of the largest listed fintech firms have declined but online lenders are bucking the trend. Analysis by advisory and investment firm GP Bullhound found its fintech index decreased by $34.4bn (£25.4bn) in the 12 months to September 2021. It said the biggest share of losses was from PayPal and Shopify, which saw their market capitalisations decline by $36.7bn and $12.5bn respectively. However, listed peer-to-peer lending platform Funding Circle and P2P-lender-turned-online-lender Lending Club actually grew in value over the period. Read more.
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