REPORT
The pandemic accelerated our embrace of digital payments — and that, in turn, appears to have shifted how we think about money, from how we make payments to what we even view as currency, according to Mastercard’s New Payments Index.
👉Read the full report by Vicki Hyman here.
REPORT
California is still the top startup state, but New York has cemented its place as the second most popular locale for new company formation.
👉Download the full Q2 report by Silicon Valley bank and AngelList for a full update on the early-stage venture ecosystem here.
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📊 INFOGRAPHIC
PayPal Q2 ‘22 - Strong Results from a Maturing Business.
👉 Read the full PayPal Q2 '22 - Strong Results from a Maturing Business by Pedro Giesta and Erik Howell here.
📰 ARTICLE
Meet 26 rising-star FinTech VCs excited about what's next in the sector — even during a market and investing pullback.
👉 Read the full Business Insider article with the full list of VCs here.
👨💻 BLOG
Shopify and Attentive have teamed up to build on text-to-buy services, enabling consumers to purchase directly from an SMS conversation with a brand.
👉 Read the full article by Amitabh J. here.
💬 INTERVIEW
Yuval Rechter is taking the market downturn seriously.
The murky outlook of the world’s economy has taken many of his fintech peers by surprise. Still, the US general manager of neobank Revolut says the challenger bank is ready for it.
👉 Read the full Verdict article here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🇺🇸 NATIONAL HIGHLIGHTS
⭐️The first employee of BitMEX pleaded guilty to violating U.S. bank secrecy laws by failing to establish an anti-money laundering program, following guilty pleas to the same charge by the cryptocurrency exchange’s three co-founders. Link here.
⭐️ComplyAdvantage names Financial Crime Risk Management Expert Andrew Davies as Global Head of Regulatory Affairs. Link here.
⭐️Ranqx expands its work with Visa into North America. Link here.
⭐️First Advantage Corporation has partnered with Plaid, a data network powering the digital finance ecosystem. Link here.
⭐️Previ connects users who want cash-back deals and ease of payment with partners that want a cheaper way to acquire customers. Link here.
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DIGITAL BANKING
Totem wants to revolutionize banking in Indian Country. Link here.
Green Dot is seeking opportunities from the economic pressures on the fintech it competes against while also providing services for consumers needing ways to manage their cash flow. Link here.
PAYMENTS
State Farm is expanding its Digital Pay solution to include instant claim payouts into a customer’s PayPal account. Link here.
Forage raises $22 Million. Link here.
BlueSnap announced it will now be a provider for KeyBank’s US gateway functionality. Link here.
Western Union announced an update to its existing partnership with Visa, expanding its integration with Visa Direct, Visa’s real-time1 money movement network, into Western Union’s United States network. Link here.
Jack Henry & Associates, Inc. announced that it has entered into a definitive agreement to acquire Payrailz. Link here.
Finix has raised $30 million in a funding round joined by American Express. Link here.
CRYPTO
Coinbase selected by BlackRock; provide Aladdin clients access to crypto trading and custody via Coinbase Prime. Link here.
The US Department of the Treasury's Office of Foreign Assets Control (OAFC) has sanctioned crypto mixer Tornado Cash following the laundering of $7bn worth of crypto. Link here.
In the United States of America, the campaign for the November Mid-Term elections is beginning to ignite. Link here.
Coinbase shares drop on billion-dollar loss in the second quarter and revenue miss. Link here.
The US arm of Revolut is switching its main cryptocurrency service prover. Revolut is tapping Chicago-based Apex Crypto, the sources said, moving away from Paxos. Link here.
BitPay partners Cardlytics for cash back rewards. Link here.
BLOCKCHAIN / DEFI
Paystand has acquired Yaydoo, the leader in accounts payable, cash flow management, and liquidity solutions in Mexico and LATAM. Link here.
GREEN FINANCE
Founderpath secures $145M in debt and equity to help B2B SaaS startup founders avoid dilution. Link here.
FRAUD PREVENTION
The Consumer Financial Protection Bureau has fined Hello Digit. Link here.
MOVERS & SHAKERS
Aspiration announced that technology and sustainability veteran Tim Newell has joined the company as its first Chief Innovation Officer. Link here.
Moven announced the addition of Steve Riley as Chief Operating Officer. Link here.
Brex announced the appointment of Doug Adamic as its Chief Revenue Officer. Link here.
Klasha appoints PayPal's Ayman Jawhar as chief product officer. Link here.
Robinhood has lost chief product officer Aparna Chennapragada. Link here.
Jellysmack continues strengthening its executive team by adding financial technology leader Dov Marmor as Chief Business Officer & Head of JellyFi. Link here.
OPPORTUNITIES
Bank of London to bring 350 new jobs to Charlotte with a new tech hub. Link here.