Fintech News Today: Top 10 Fintech News Stories for the Week Ending February. Read more
The three warm themes in fintech news this past week were crypto, SPACs and buy now pay later, akin to lots of days so even this year. Here are what I think about to be the top ten most prominent fintech news posts of the past week.
Tesla purchases $1.5 billion for bitcoin, plans to allow it as payment from FintechZoom.com? We kicked the week off of with the huge news from Tesla that they’d acquired $1.5 billion of bitcoin in January; bitcoin predictably soared on the information.
Mastercard to allow for Some Cryptocurrencies on Its Network coming from The Wall Street Journal? Much more great news for crypto investors as Mastercard indicated it will support some cryptocurrencies immediately on the network of its as even more people are using cards to buy crypto in addition to using cards to spend their crypto.
Bitcoin to Come to America’s Oldest Bank, BNY Mellon coming from The Wall Street Journal? The nation’s oldest bank allows us a trifecta of huge crypto news because it announces that it will hold, transport as well as issue bitcoin and other cryptocurrencies on behalf of its asset-management clients.
Fintech News Today – Mobile bank MoneyLion to visit public through blank-check merger of $2.9 billion deal offered by Reuters? MoneyLion becomes the most recent fintech to jump on the SPAC train as they announced a $2.9 billion package with Fusion Acquisition Corp.
OppFi is actually the newest fintech to visit public through SPAC coming from 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 more on this as well as the MoneyLion SPAC next week).
Ex-SoFi CEO Starts Blank-Check Company to Raise $250 Million from Bloomberg? Mike Cagney has made the decision to sign up for the SPAC party as he files paperwork while using the SEC for Figure Acquisition Corp. I and intends to raise $250 million.
Klarna’s valuation set to triple to $30bln, affirms article from Fintech Futures? Privately contained Swedish BNPL giant is reportedly looking to increase $500 huge number of at a $25b? $30b valuation. In addition, they announced the launch of savings account accounts in Germany.
Within The Billion-Dollar Plan To Kill Credit Cards from Forbes? Great profile on Max Levchin, CEO and co founder of Affirm, and the first days of Affirm as well as what it became a BNPL juggernaut.
Survey Reveals a concealed Customer Exodus in Banking from The Financial Brand? An interesting international survey of 56,000 customers by Bain & Company shows that banks are actually losing business to their fintech rivals even as they keep their customers’ core checking account.
LoanDepot raises simply $54M wearing downsized IPO coming from HousingWire? Mortgage lender loanDepot went public this particular week inside a downsized IPO that raised just $54 million after indicating initially they would increase over $360 million.
Fintech News Today: Top ten Fintech News Stories because of the Week Ending February