China looks poised to claim ‘first mover advantage’ on digital currency: HSBC

HSBC said Thursday that a digital version of the Chinese yuan, which it suspects will launch soon, could improve China’s payment systems and put the nation at the forefront of digital currency development.

T. Rowe Price leads $2.5B investment round for Tesla rival Rivian

Funds and accounts managed by T. Rowe Price led a $2.5 billion investment round for Tesla rival Rivian, the startup said Friday, as investors chase the electric car hype.

Fintech Marqeta, backed by Goldman Sachs and Visa, eyes IPO: Reuters

Marqeta, a fintech that provides a platform for card issuers and whose backers include Visa and Goldman Sachs, is exploring an initial public offering, Reuters reported on Thursday.

Fintech SoFi makes renewed pitch to regulators for bank charter

Financial technology company SoFi applied for a national bank charter with the U.S. Office of the Comptroller of the Currency on Thursday, after an earlier attempt in 2017 for an industrial loan charter was withdrawn amid controversy involving former executives.

JPMorgan Chase, Ping An invest in supply chain payments fintech Taulia

The investment units of JPMorgan Chase and Ping An Insurance agreed to invest in California payments platform Taulia, as firms see increasing value in supply chain finance amid pandemic-related disruption.

NY suit against Bitfinex over $850M in lost funds will go forward, appeals court rules

A New York appeals court ruled Thursday that cryptocurrency exchange Bitfinex must face the state’s claims the company engaged in a coverup to hide the loss of $850 million in client and corporate funds connected to one of the world’s most valuable digital currencies.

Coinbase set to become first publicly traded crypto exchange this year: Reuters

Coinbase may become the first-ever cryptocurrency exchange to go public as soon as this year in a move that could make digital currencies more mainstream, Reuters reported Thursday.

CFO Young to depart fintech Broadridge for agtech startup

New York-based Broadridge Financial Services is on the prowl for a new chief financial officer, disclosing Thursday that its CFO of six years, Jim Young, will step down, marking the latest C-suite shakeup at the global fintech.

Bank of China’s Malaysia arm adopts UnionPay QR code payments

The Bank of China’s Malaysian outpost has begun using a QR code payment option for customers around the world who use the bank’s app, reflecting the current high demand for digital services as well as the bank’s continued interest in the Southeast Asian country.

Nationwide, Bold Penguin test online insurance platform for independent agents

U.S. insurer Nationwide and insurtech Bold Penguin will begin testing a new digital portal designed to connect independent insurance agents and small-business owners while lockdowns force many customers to rely on online insurance shopping.

Alibaba affiliate Ant Financial plans $200B IPO in Hong Kong: Reuters

Ant Financial Services Group, the world’s most valuable tech startup, plans to list an initial public offering in Hong Kong as soon as this year, Reuters reported on Wednesday, sending shares of the firm’s larger affiliate Alibaba soaring.

Stablecoins to face new regulatory scrutiny

The Financial Action Task Force on Tuesday identified stablecoins as akin to other virtual assets like Bitcoin and called for the implementation of revised regulatory standards for them as “a matter of priority,” in a report addressed to G-20 finance ministers and central bank governors.

American Express, Discover, Mastercard and Visa commit to global expansion of online checkout system

American Express, Discover, Mastercard and Visa said on Wednesday that they are each starting technical preparations to expand the Click to Pay online checkout system globally, offering consumers a “streamlined experience across any digital checkout environment or network” as the pandemic has accelerated the shift to digital payments.

FNZ to acquire majority stake in State Street’s wealth manager services unit

State Street Corporation will hand over a controlling interest in its wealth manager services business to financial technology company FNZ in order to form a joint venture to meet growing interest in personalized servicing, the companies said Tuesday.

Deutsche Boerse debuts data-heavy A7 analytics platform

German exchange and market technology network Deutsche Boerse rolled out a new analytics platform, A7, to provide investors and algorithm designers with “nanosecond-precise” data on its Xetra and Eurex trading platforms.

Gold-based fintech receives license to transmit payments in Arizona

A company seeking to compete with the U.S. dollar by creating a gold-based digital payment service has been granted a money transmitter license in Arizona, one of several states where gold is considered legal tender.

National Bank of Canada doubles down on fintech as banks rush to boost digital investing features

Montreal-based National Bank of Canada is expanding its collaborative position in Canadian fintech Nest Wealth with an additional strategic investment, speeding up efforts to introduce new digital features for independent brokers on its platform.

Australian fintech Afterpay plans AU$800M equity raising

Afterpay, a fast-growing Australian fintech that allows consumers to buy goods and make interest-free payments for them later, said Tuesday that it plans to issue roughly AU$800 million (nearly $557 million) worth of new shares to fund continued expansion as it benefits from the movement toward online spending due to COVID-19.

Deutsche Bank partners with Google Cloud to develop new financial tech

Deutsche Bank said Tuesday that it has signed on to a partnership with Google Cloud that will not only provide new technology for the bank to use but also envisions a collaboration to develop “the next generation of financial technology” products for its clients.

Beazley debuts online system for virtual broker meetings

In response to the growing demand for virtual meetings caused by the pandemic, specialist insurer Beazley said Tuesday it has created an online booking system to make it easier for brokers to arrange digital appointments and share necessary information with underwriters.

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