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.
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.
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.
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of the Comptroller of the Currency on Thursday, after an earlier attempt in 2017 for an industrial loan charter was withdrawn amid controversy involving former executives.
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.
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 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.
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.
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.
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.
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.
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 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.
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.
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.
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.
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.
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 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.
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.