Fintech News Today: Top 10 Fintech News Stories for the Week Ending February. Read more
The three hot themes in fintech news this past week had been crypto, SPACs and acquire now pay later, akin to lots of days so even this year. Here are what I consider to be the top 10 most important fintech news stories of the past week.
Tesla purchases $1.5 billion for bitcoin, plans to allow it as fee from FintechZoom.com? We kicked the week off of having the massive 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 The Network of its from The Wall Street Journal? Much more good news for crypto investors as Mastercard indicated it will support several cryptocurrencies immediately on its network as more folks are using cards to invest in crypto in addition to 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 provides us a trifecta of large crypto news since it announces that it is going to hold, transport and issue bitcoin as well as other cryptocurrencies on behalf of its asset management clients.
Fintech News Today – Movable bank MoneyLion to travel public via blank-check merger in $2.9 billion deal from Reuters? MoneyLion becomes the latest fintech to jump on the SPAC train as they announced a $2.9 billion package with Fusion Acquisition Corp.
OppFi is actually the most recent fintech to go 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 much more on this and 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 become a member of the SPAC soiree as he files documents while using the SEC for Figure Acquisition Corp. I and intends to increase $250 million.
Klarna’s valuation set to triple to $30bln, tells you article 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 accounts found in Germany.
Inside The Billion Dollar Plan To Kill Credit Cards from Forbes? Great profile on Max Levchin, co founder and CEO of Affirm, and the early days of Affirm as well as what it became a BNPL juggernaut.
Survey Reveals a hidden Customer Exodus in Banking as a result of The Financial Brand? An intriguing international survey of 56,000 customers by Company and Bain shows that banks are actually losing company to their fintech rivals while as they keep their customers’ primary checking account.
LoanDepot raises simply $54M in downsized IPO from HousingWire? Mortgage lender loanDepot went public this week in a downsized IPO which raised just $54 million after indicating initially they will increase over $360 million.
Fintech News Today: Top ten Fintech News Stories for the Week Ending February