Fintech Company Klarna Close to Raising $1B at $31B Valuation
Swedish fintech firm Klarna is close to reaching its $1 billion target in a funding round, say sources familiar with the matter.
FinTech News
Find latest news about FinTech - the technology that drives the development of financial applications, processes and products revolutionizing the way we live 
HODLCommunity: Holy Grail of FinTech
By John Ryan
Despite the substantial gains that HODLC guarantees, the project is not for gambling investors seeking the coveted “lambos on the moon” or anything else pie in the sky, it is for sensible investors who want a secure asset to preserve wealth and hedge against inflation.
Federal Reserve Wire and ACH Systems Back Online after Outage Affecting Exchanges
By John Kiguru
Some other services offered by the Fed were also disrupted some of which include, FedLine Advantage, FedLine Command, FedLine Direct, FedLine Web and FedMail.
Global Fintech Investments Topped $30B in First Nine Months of 2020
By John Kiguru
According to a report by Qatar Financial Centre and Refinitiv, investors stashed $30.4B in global fintech investments in the first 9 months of 2020.
Chengdu City Announces Digital Yuan Trials with Biggest Handout of $6M
By John Kiguru
The Chengdu lottery will have around 200,000 participants who will receive from $27 to $37.
SEC Commissioner Hester Peirce Calls for ‘Legal Clarity and Freedom to Experiment’ for DeFi
By Daria Rud
Saying that DeFi promises democratization, open access, transparency, predictability, and systemic resilience, Peirce mentioned the risks related to the industry. They include security vulnerabilities, scaling problems, and faux decentralization.
JPMorgan Says Fintech Not Bitcoin Will Dominate Financial Services as COVID-19 Persists
Before now, strategists at JPMorgan compared Bitcoin with gold, viewing BTC as a new digital store for it.
CoinShares Introduces DeFi Index Token for Institutional Investors
By Daria Rud
The DeFi Index token consists of wrapped assets – the company’s gold token DGLD (wDGLD), Bitcoin (wBTC), and Ethereum (wETH).
Safello Partners Klarna to Facilitate Direct Crypto Purchases from Banks
The Sweden-based crypto exchange Safello will leverage Klarna’s open-banking services thereby allowing its 180,000 customer-base to directly purchase crypto from their bank accounts.
Mastercard Launches Prepaid Card Linked to Bahamas Sand Dollar CBDC
Mastercard is a leading force in today’s digital payment ecosystem as the firm helps to drive the development of CBDCs beyond the issuance of prepaid cards.
Financial Technology News
The word “fintech” is derived from “financial technology” which means the integration of technological tools and innovations into financial operations in order to enhance and automate the financial processes. Fintech is used to assist financial institutions, businesses in the management of their operations to provide better services to their customers. As the industry of fintech is actively evolving, there is no surprise at all that the news from this sphere can attract wide attention.
Adoption of fintech by a company would mean a significant change to their mode of operations as it involves the use of specialized algorithmic models, mobile applications and dedicated computer software packages.
At its initial introduction stage, companies from a range of industries including banking, education, fundraising, health, venture management, etc. only used fintech for back end systems where they get absolute and full control. Nowadays, most industries have started using the innovation for consumer-oriented services in an attempt to serve their clients better while increasing the transparency in their operations.
Impact of Fintech News
As we move towards a significantly digitized world, from the introduction of the internet to social media, smartphone evolution and now blockchain technology, the need for adoption of cryptocurrency cannot be overemphasized. As the underlying framework of pioneer cryptocurrency bitcoin, the blockchain is a vital part of fintech. We’ve seen a number of blockchain-powered fintech apps being employed by banking industries and data inclined platforms.
Fintech has become a major part of the finance space in recent years, this points to the fact that major conglomerates have identified and prioritized its importance in growing their businesses. Fintech works closely with other new technologies such as data-driven analytics and marketing, machine learning, artificial intelligence, etc.
Coinspeaker presents the best and latest Fintech news, ranging from its use in cross border payments, startup business fundraisers, venture management, credit application, to remote banking, as investors and stakeholders’ awareness about the innovation continues to rise daily.
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