#Goldman Sachs CFO Martin Chavez said a report that stated the bank was closing or delaying its #cryptocurrency trading desk was “#fake #news.” This information appeared on Bank Innovation and across business media yesterday. Chavez told the audience at TechCrunch Disrupt yesterday (video here) that desk or no desk, Goldman will continue its exploration of […]
Bank Innovation
Payment processor #Square has withdrawn its application to become a deposit-taking bank, a move similar to online lender Social Finance or SoFi, which withdrew its application #last fall. However, unlike SoFI, Square plans to refile its application, attributing Thursday’s #withdrawal to mere procedural issues. It plans to #reapply with the #FDIC, but did not reveal […]
Bank Innovation
P2P payment provider #Zelle processed $ 25 billion in #payments during the first quarter of 2018, the service reported yesterday, a more than 15% increase from last quarter. While this seems to be a good deal higher than the payment volume of its competitor service, Venmo (owned by payments company, PayPal), these statistics come #after several […]
Bank Innovation
Silicon Valley startup #Robinhood is set to hit a $ 5.6 billion valuation #after its #newest #funding #round, expected to #reach $ 350 million, it was reported yesterday. This would represent a “fourfold increase in just one year” when it comes to the startup’s valuation, the Wall Street Journal reported, and would make Robinhood one of the …Read More
Bank Innovation
The 16 registered #cryptocurrency #exchanges currently operating in Japan will soon form a self-regulating #body, #after a $ 530 million #heist of digital coins in the region led to investor concerns, Reuters reported today. The decision comes after hackers stole the above sum from Japan exchange Coincheck Inc in January 2018, raising questions regarding the regulation …Read More
Bank Innovation
#Customers of JPMorgan #Chase were unamused when the bank experienced a day-long digital outage, leaving many customers unable to make #online transactions, use the #mobile app, or conduct additional banking tasks. The bank, #after noting that some “functions” of its website and app were not working on its twitter, posted a second tweet some hours […]
Bank Innovation
EXCLUSIVE – #Cryptocurrency #exchange, #Poloniex is imposing a #verification process on all its account holders, but is also providing a great incentive for them to do so. The U.S.-based exchange said earlier this week that it would require all account holders (new and existing ones) to verify their identities through a know-your-customer (KYC) due diligence process […]
Bank Innovation
The #price of #bitcoin today is down: very down. The price of the #cryptocurrency fell more than 25% its all-time #high of about $ 20,000. The news comes days #after a South Korean cryptocurrency exchange Youbit was hacked earlier this week. Today bitcoin is at $ 11330 as of 10.00 AM ET. That’s staggering plunge from its […]
Bank Innovation
EXCLUSIVE—Chinese consumer finance firm #LexinFintech will be using its IPO funds to expand its #technology suite, keeping its focus on developing #products that will make the consumer experience easier, the company told Bank Innovation. “We will put it more in the technology side, we will keep focusing on that area,” Craig Yan Zeng, chief financial […]
Bank Innovation
#Shares for marketplace lender, #LendingClub, plunged sharply yesterday #after the company lowered its profit guidance during its #investor day presentation. The company’s shares went down 15% to 22% yesterday, according to various sources, and reached an all time low of $ 3.29 per share — approximately an 80% drop from its initial IPO price in 2014, […]
Bank Innovation
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