And we’re kicking off the week with new details on crypto, money transfer, fintech funding, payment process, debt crisis and more. Dive into the latest fintech insights and have a great start of the week!
How Welcome Tech is working to drive financial inclusion for immigrants in the US (Fintech Futures)
Amir Hemmat, co-founder and CEO of Welcome Tech, a Los Angeles-based financial technology solutions provider focused on the Hispanic community, explains what his company is doing to tackle this. Historically, many immigrants in the US Hispanic/Latino community have been unbanked/underbanked and, by extension, lacking the necessary credit scores to access standard financial services. This has left them open to the clutches of predatory financial services providers. Read more.
A VCs guide to the Web3/Crypto galaxy (Medium)
At some point, on every crypto journey, one has to put aside the memes and the fun and the games and dig into what this ecosystem really is.
I have been hard-pressed to find a clear and easy-to-follow overview of the Web3 world from an institutional investor perspective. But this year, through my work at PJC alongside my colleague Matt Hayes, I’ve had a chance to research the newest frontiers of crypto and evaluate dozens of potential opportunities. As part of that, I’ve put together the guide below. If you’re an investor, non-crypto native, looking to start something in the space, or just curiously browsing, I hope you find this memo useful and actionable. Read more.
The evolving cyber threat landscape in 2022 and how fintechs can mitigate risk (Fintech Futures)
At the end of 2021, it was estimated that cyberattacks cost the global economy a staggering $6 trillion. Cybersecurity Ventures estimate it could escalate to $10.5 trillion by 2025. Companies that operate in the financial services/fintech arena are, of course, top industry targets for cybercriminals. The industry has for many years been a lucrative target for hackers – both for money and access to mass customer data. Read more.
What Caused The Future FinTech (FTFT) Stock To Rise Pre-Hours? (Setenews)
At last check in pre-market trading, shares of Future FinTech Group Inc. (FTFT) were up 8.53% at $0.845. Future FinTech (FTFT) stock closed last session at $0.78, decreasing -5.16% or -$0.04. Shares of the company fluctuated between $0.7703 and $0.86 throughout the day. The number of shares exchanged was 0.66 million, less than the company’s 50-day daily volume of 0.75 million and lower than its Year to date volume of 0.88 million. FTFT stock is surging pre-hours not only for the overall impact of the bitcoin price hike but also because of its strategic move. Read more.
Banking for net-zero homes (Fintech Futures)
It seems that after decades of studies followed by numerous warnings, the UK has finally awoken to the threat of climate change. Aside from the legal commitments made to hit net-zero targets by 2050, we heard this week that no VAT will be charged on energy saving home improvements. This includes things like insulation, solar panels, and heat pumps (ground or air). Targeting homes is key to hitting net-zero commitments as real estate accounts for almost 20-36% of all greenhouse gas emissions. Homes also account for up to 40% of energy consumed, according to a recent report from Plentific. Read more.
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