Fintech News Today: Top ten Fintech News Stories for the Week Ending February. Read more
The 3 warm themes in fintech news this past week had been crypto, SPACs and buy then pay later, akin to many days so far this year. Allow me to share what I think about to be the top 10 foremost fintech news stories of the past week.
Tesla purchases $1.5 billion in bitcoin, plans to recognize it as fee offered by CNBC? We kicked the week off which has the huge news from Tesla that they had acquired $1.5 billion of bitcoin in January; bitcoin predictably soared on the news.
Mastercard to support Some Cryptocurrencies on Its Network coming from The Wall Street Journal? More good news for crypto investors as Mastercard indicated it will support some cryptocurrencies immediately on its network as more people are utilizing cards to purchase crypto as well as employing cards to spend the crypto of theirs.
Bitcoin to Come to America’s Oldest Bank, BNY Mellon from The Wall Street Journal? The nation’s oldest bank account allows us a trifecta of big crypto news because it announces that it will hold, transport and issue bitcoin and other cryptocurrencies on behalf of its asset management clients.
Fintech News Today – Movable bank MoneyLion to travel public through blank check merger in $2.9 billion deal offered by Reuters? MoneyLion becomes the newest fintech to go on the SPAC bandwagon as they announced a $2.9 billion package with Fusion Acquisition Corp.
OppFi is the newest fintech to visit public via SPAC as a result of American Banker? Opploans announced a rebrand to OppFi as they will in addition go public by merging with FG New America Acquisition Corp., an Illinois based SPAC. (I am going to have much more on this and also the MoneyLion SPAC next week).
Ex-SoFi CEO Starts Blank Check Company to Raise $250 Million offered by Bloomberg? Mike Cagney has made the decision to join the SPAC bash as he files paperwork with the SEC for Figure Acquisition Corp. I and intends to bring up $250 million.
Klarna’s valuation set to triple to $30bln, says report from Fintech Futures? Privately held Swedish BNPL giant is reportedly looking to raise $500 zillion in a $25b? $30b valuation. Additionally, they announced the launch of bank account accounts within Germany.
Inside The Billion-Dollar Plan to be able to Kill Credit Cards offered by Forbes? Good profile on Max Levchin, CEO and co-founder of Affirm, and the early days of Affirm as well as the way it grew to become a BNPL juggernaut.
Survey Reveals a secret Customer Exodus in Banking as a result of The Financial Brand? An interesting global survey of 56,000 consumers by Bain & Company demonstrates that banks are losing company to their fintech rivals even as they continue their customers’ primary checking account.
LoanDepot raises just $54M wearing downsized IPO coming from HousingWire? Mortgage lender loanDepot went public this specific week in a downsized IPO that raised just $54 million after indicating at first they would raise over $360 million.
Fintech News Today: Top 10 Fintech News Stories for the Week Ending February