Starting in August, PayPal says it plans to hike transaction fees to 3.49% plus 49 cents for merchants that use its proprietary services, which include PayPal Checkout, Pay with Venmo, PayPal Credit, Pay in 4, PayPal Pay with Rewards, and Checkout with Crypto.
Read MoreRevolut, a digital banking platform that operates in more than 30 European countries, Australia, Singapore, Switzerland, Japan, and the U.S., reported a £168M ($234M) loss for 2020, up 57% year-over-year, but Revolut’s adjusted annual revenues (which take into account crypto) were also up 57% at £261M ($364M).
Read MoreThe value of the iron titanium token, the share token of a decentralized finance protocol, fell from $60 to near zero in a day. The token was part of an algorithmic stablecoin project called Iron Finance.
Read MoreJPMorgan Chase has acquired U.K. robo-adviser Nutmeg as it prepares to launch a digital banking offering in Britain later this year.
Read MoreIn a blow to crypto traders, the Securities and Exchange Commission is holding off approval of the first Bitcoin exchange-traded fund (ETF).
Read MoreCross River Bank, the New Jersey-based bank behind fintechs like Affirm, Upgrade, and Upstart, announced that it created its own venture capital arm to invest in companies that “sit at the intersection of lending, payments, investing and fintech.”
Read MoreThree months after relaunching its cryptocurrency trading desk, Goldman Sachs is expanding its cryptocurrency reach beyond Bitcoin and into Ether.
Read MoreGreenlight, an Atlanta company that offers debit cards and bank accounts for kids, is suing a former Facebook executive who recently began a job at rival startup Step, whose products serve a similar customer group.
Read MoreState Street is launching a new business unit called State Street Digital, covering cryptocurrency, central bank digital currency, blockchain, and tokenization.
Read MoreStarting in July, some retirement savers will have the option to put some of their funds in crypto. Startup 401(k) provider ForUsAll, which works with small businesses, is partnering with cryptocurrency exchange Coinbase to allow users to allocate up to 5% of their holdings in cryptocurrencies.
Read MoreAs Robinhood and GameStop debacles this year put a spotlight on the growing number of retail investors, New York-based Atom Finance aims to offer a suite of research tools comparable to a Bloomberg terminal at a more affordable price point.
Read MoreUnbeknownst to many, Georgia-based lawyer Stacey Abrams – yes, that Stacey Abrams – has been a fintech entrepreneur since 2010. Together with Lara O’Connor Hodgson, Abrams co-founded Now, a toolset that automates the process and timing around when businesses get paid.
Read MoreUnbeknownst to many, Georgia-based lawyer Stacey Abrams – yes, that Stacey Abrams – has been a fintech entrepreneur since 2010.
Read MoreCredit Sesame, a credit monitoring and personal finance management platform, announced that it acquired Zingo, a software firm whose toolset allows its customers to boost their credit scores by adding rent payments.
Read MoreTwo months after filing a patent for fintech offering Hazel by Walmart – an amalgam of products and services that look a lot like a robo-adviser – the retail giant announced a partnership with bill payment fintech PayNearMe and Green Dot Bank in an effort to get customers to pay their bills at its stores.
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
