The European Central Bank on Tuesday warned that the rise of stablecoins could pose significant risks for the financial system, including liquidity disruptions and market volatility, if the issuances aren’t carefully regulated.
Massachusetts-based Hanover Insurance Group rolled out a new online policy quoting and issuing tool for small business clients on Tuesday, allowing agents to more easily offer stand-alone speciality coverage.
Payments fintech Square found that the shift to cashless payments, which received a jump-start in the pandemic, is likely around for the long term, based on an analysis of data from its millions of customers.
London-based Standard Chartered unveiled a new virtual bank built for tech-friendly users in Hong Kong called Mox on Tuesday, as legacy banks continue to capitalize on a digital shift during the pandemic.
U.S. Bank has partnered with TravelBank to offer the fintech’s technology to business clients, allowing customers to instantly create and send virtual credit cards to employees and contractors for travel expenses.
NatWest Group CEO Alison Rose said negative rates in the U.K. could exacerbate problems for banks, issuing her warning as the country’s monetary policy leaders consider further stimulus efforts.
PNC Financial Services’ fintech incubator has acquired Sentral, a Pittsburgh-based company that connects debit card networks with card-linked offer providers, in a bid to capitalize on the growing payment services market.
Russia’s largest tech company, Yandex, has agreed to buy the nation’s largest digital bank, Tinkoff, for $5.5 billion, just months after Yandex ended a decade-long partnership with Sberbank.
Bright Health Inc. raised $500 million in a Series E funding round, the insurtech revealed Tuesday, after securing “significant” investments by T. Rowe Price, Blackstone and Tiger Global Partners as it gears up to start offering new products in more markets throughout the U.S. next year.
Canadian fintech company Wealthsimple launched its country’s first regulated crypto exchange on Monday, just a month after regulators gave the company the go-ahead.
Ally Financial said on Tuesday that it will be adding fintech Sezzle’s installment payments platform to its retail market lending choices, giving customers a "buy now, pay later" option, which has been growing in popularity for online sales.
Credit Suisse CEO Thomas Gottstein said Tuesday that he expects the firm’s wealth management business to slow down in the third quarter and bank consolidation to continue in Europe as the economy seeks to recover from COVID-19.
A co-creator of Facebook’s experimental digital currency Libra is leaving the project before it fully launches to become a general partner with the venture capital firm NFX.
One, a startup founded by PayPal’s first CEO and a former Capital One executive, said on Tuesday that it debuted what it bills as the first combined digital banking service that includes saving, borrowing, spending and sharing.
Brazil’s Hashdex Asset Management inked a deal with New York-based Nasdaq to offer the world’s first cryptocurrency exchange-traded fund on the Bermuda Stock Exchange.
Swedish open-banking firm Tink acquired the aggregation platform of U.K.-based OpenWrks, the startup said on Monday, taking another step in an effort to expand across Europe.
Goldman Sachs has been hired by auto insurtech Root to lead the startup’s preparations for an initial public offering with a target of raising $5 billion to $6 billion, Reuters reported Monday.
Google on Monday upgraded its payment mobile app for Indian users, according to local media reports, bringing secure and contactless options to the country as its mobile-payments market grows aggressively.
U.S. banks will be permitted to hold reserves on behalf of stablecoin issuers under a new set of regulations released Monday, offering clarification for financial institutions amid increased digital currency development.
U.S. payments processing firm Stripe agreed to pay $120,000 to Massachusetts over its failure to prevent a scam that purportedly used the fintech’s accounts to offer sales of the cryptocurrency PlexCoin.