We need to get clarity here from regulators on this popular product (full disclosure: I have a BlockFi account) and the sooner it comes the better.
States such as New Jersey, Alabama, Kentucky and Alabama are doing the same thing.
Their new valuation of $6.28 billion is up 83% from June and revenue climbed 70% during the same time frame as the Upgrade Card has become the fastest-growing credit card in the U.S.īlockFi Faces SEC Scrutiny Over High-Yield Crypto Accounts from Bloomberg – The SEC is investigating BlockFi over its high yield crypto accounts and whether these accounts are actually securities.
Payments are changing and Amazon is the 800-pound gorilla driving some of this change.Ĭredit card start-up Upgrade jumps 83% in valuation in just four months to $6.28 billion from CNBC – Upgrade had the largest funding round of the week with a $280 million Series F. This was the most interesting take I read on the issue. Visa and the Coming Fintech Wars from BloombergOpinion – In the U.K this week Amazon gave notice that it would not be allowing U.K-issued Visa credit cards as a form of payment on its platform starting in January. This will provide Oportun with some real firepower as it looks to become a leader in the broader digital banking space.Īmazon vs. Oportun to purchase Digit, become Neobank from LendIt Fintech News – Consumer lending fintech Oportun is expanding its capabilities as it announced this week it was acquiring Digit, a leading neobank savings app, for $213 million. After launching in August 2019 N26 will close all 500,000 U.S. when it comes to digital banking as leading German neobank N26 has decided it’s time to call it quits. German Digital Bank N26 to Withdraw From the U.S., Close 500,000 Accounts from The Wall Street Journal – The Europeans are finding it tough going in the U.S. Here are what I consider to be the top ten fintech news stories of the past week.
A broad cross section of news this week as we have N26 calling it quits here, Oportun making a significant acquisition, Amazon pulling the plug on Visa in the U.K., Upgrade closing another large round and BlockFi getting investigated by the SEC.