Yesterday, Feb. 1, 2023, U.S. Federal Reserve Chair Jerome Powell announced yet another rate hike, making it the eighth increase since March 2022. While the interest rate was only marginally raised, a quarter of a percentage point, Powell expects to implement further raises shortly. Although rate increases are seldom a good thing, there is a […]
While Web3 and the crypto world provide some unique situations, when insurance providers assess their risk, they go back to the basics. That is if they touch it all. Most do not. Many companies’ policies explicitly state they will not cover cryptocurrency and blockchain. Vouch has policies designed to cover smart contract vulnerabilities, DAOs, cryptocurrencies, […]
The following is a guest post by Joe Ehrhardt, CEO & Founder Teslar Software. A lot is going on with the economy, leaving the banking industry at a crossroads regarding where they should focus and invest. It is becoming increasingly necessary for financial institutions to start thinking outside the box for ways to grow and […]
Binance announced a partnership with Mastercard this week to launch a prepaid card in Brazil, the second initiative of its kind in Latin America after a previous rollout in Argentina. The card, which is still in beta, will soon be available to all existing Binance users with a national ID. Brazilian clients will thus be […]
On Friday, Jan. 27, 2023, the Federal Reserve Bank (FRB) of Kansas City announced its decision to reject Custodia Bank’s application for a master account. If approved, the bank would have access to the payment rails between banks without relying on an intermediary. Caitlin Long, CEO of Custodia Bank “We believe that the Fed’s decisions […]
Matt Bodkin Matt is an experienced editorial cartoonist with a demonstrated history of working in the newspaper industry. Strong arts and design professional with a Bachelor of Fine Arts focused in Fine Arts from Long Island University, Southampton Campus. View all posts
Transfeera raised $ 1.3 million this month in a series A round. The fintech is a banking-as-a-service provider in Brazil focusing on business-to-business transactions. The company specializes in Pix and provides banking capacity to 470 clients in the country. Founded in 2017 in Brazil’s Southeast region, the company started as a B2C enabler but […]
Structured changes to handling consumer data rights are making their way across the pond. Following the successful adoption of open banking standards in the UK and Europe, the rest of the world is catching on. Development of countries’ standards to match the innovation in Europe is underway, and the U.S. is no exception. There has […]
Recent data from the Brazilian Central Bank indicates that Nubank ended 2022 with 75 million customers worldwide and 70 million in Brazil, representing a growth of 39.1%. A year earlier, the fintech’s total customer base was 53.9 million. These numbers consolidate Nubank as the fifth-largest financial company in Brazil by customers. In addition, a study […]
Roy Ng of Bond There are few trends in fintech hotter today than embedded finance. There are companies offering to embed different type of financial products within the product flow of banks, fintechs and even brands. This is part of the rebundling of financial services and it is creating opportunities for many new companies. My […]