Stay up to date with the latest news from fintech! This week, we bring you updates and developments on partnerships, lending, banking, crypto, NFT and more. Enjoy reading!
Fintech startup Milo is offering 30-year ‘crypto-mortgages’ (Cointelegraph)
Miami-based fintech startup Milo is introducing what it claims is the world’s first “crypto mortgage.” The digital bank will allow crypto investors to leverage their digital assets to purchase real estate in the United States. At the moment, only customers wanting to use Bitcoin (BTC) as collateral qualify for Milo’s 30-year mortgage loan. Both American and international customers will be able to use the service to purchase real estate in the United States. Read more.
Levenue acquires Amsterdam-based fintech company Requr to consolidate its position in RBF market (Siliconcanals)
Levenue, a revenue-based finance marketplace, announced that it has acquired Amsterdam-based fintech company Requr for an undisclosed fee. With this move, Levenue aims to capitalise on the growing popularity of Revenue-Based-Financing (RBF). For the uninitiated, RBF is a way to raise funds based on the company’s revenues. Companies that opt for RBF will have to pledge a part of their annual revenue in exchange for capital. In this case, founders do not have to give up equity or collateral. Read more.
World’s Largest Asset Manager Blackrock Files for Blockchain Tech ETF (News Bitcoin)
The New York-based multinational investment management corporation Blackrock has filed an application with the Securities and Exchange Commission (SEC) for a blockchain tech exchange-traded fund (ETF). The Ishares blockchain tech ETF aims to track the Intercontinental Exchange (ICE) index called the Factset Global Blockchain Technologies Index. The investment firm with $10 trillion in assets under management (AUM) as of January 2022, Blackrock, hopes to launch an exchange-traded fund (ETF) called the Ishares blockchain tech ETF. That’s according to a SEC filing submitted by Blackrock which says the fund will track the ICE index called the NYSE Factset Global Blockchain Technologies Index (NYFSBLC). Read more.
Commission puts forward declaration on digital rights and principles for everyone in the EU (European Commission)
The Commission is proposing to the European Parliament and Council to sign up to a declaration of rights and principles that will guide the digital transformation in the EU. he draft declaration on digital rights and principles aims to give everyone a clear reference point about the kind of digital transformation Europe promotes and defends. It will also provide a guide for policy makers and companies when dealing with new technologies. The rights and freedoms enshrined in the EU’s legal framework, and the European values expressed by the principles, should be respected online as they are offline. Once jointly endorsed, the Declaration will also define the approach to the digital transformation which the EU will promote throughout the world. Read more.
EU Markets Regulator Calls for Ban on Proof-of-Work Crypto Mining: Report (Coindesk)
Erik Thedéen said that EU regulators should nudge the crypto industry towards the less energy-intensive proof-of-stake mining. Proof-of-work crypto mining should be banned in the European Union (EU), according to the vice chair of the European Securities and Markets Authority (ESMA). he proof-of-work model involves miners using scores of powerful computers to solve complex mathematical problems in order to record transactions on the blockchain an be rewarded with new coins. The world’s largest two cryptocurrencies – bitcoin and ether – both use this model. Read more.
Walmart-backed start-up is acquiring two fintech companies, Even and ONE (CNBC)
A financial technology start-up that Walmart created and backed said Wednesday it is acquiring two more companies as it aims to build an all-in-one app where consumers can manage their money. The combined company will be called ONE, the name of one of the firms that the fintech start-up is acquiring. It is also purchasing another fintech company, Even. Financial terms were not disclosed. Walmart — the country’s largest private employer and biggest grocer — announced an effort last year to develop unique, affordable financial products that it could offer its millions of customers and employees. It said it was teaming up with Ribbit Capital, one of the investment firms behind Robinhood, to launch an independent fintech start-up. Read more.
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