As the world of finance and technology continues to evolve, it can be difficult to keep up with all the latest news and developments. That’s why we’ve put together a roundup of the 10 most noteworthy fintech news stories from the week of June 3, 2023.
1. PayPal Acquires Crypto Custodian Curv
PayPal has announced its acquisition of Curv, a cryptocurrency custody company. This move is seen as a significant step for PayPal in its efforts to expand its cryptocurrency offerings.
2. Robinhood Goes Public
Popular trading app Robinhood has gone public, with its shares trading on the NASDAQ under the ticker symbol HOOD. The company’s IPO has been highly anticipated, with many investors eager to get in on the action.
3. Square Launches Bitcoin DeFi Platform
Square, the payments company founded by Twitter CEO Jack Dorsey, has launched a new Bitcoin-based DeFi platform called TBD. The platform will allow users to lend and borrow Bitcoin without the need for a centralized intermediary.
4. Visa Launches Crypto Advisory Service
Visa has launched a new advisory service aimed at helping banks and financial institutions navigate the world of cryptocurrency. The service will provide guidance on everything from regulatory compliance to product development.
5. Mastercard Acquires CipherTrace
Mastercard has acquired CipherTrace, a blockchain analytics company that specializes in tracking cryptocurrency transactions. The move is seen as a way for Mastercard to strengthen its position in the cryptocurrency space.
6. Goldman Sachs Launches Digital Wealth Management Platform
Goldman Sachs has launched Marcus Invest, a new digital wealth management platform that will allow customers to invest in a range of portfolios based on their risk tolerance and investment goals.
7. JPMorgan Launches Digital Bank in the UK
JPMorgan has launched a new digital bank in the UK called Chase. The bank will offer a range of services, including checking and savings accounts, credit cards, and mortgages.
8. Stripe Launches New Payment Platform
Stripe, the payments company valued at $95 billion, has launched a new payment platform called Stripe Identity. The platform will allow businesses to verify the identity of their customers in real-time.
9. Coinbase Launches Crypto Savings Account
Coinbase has launched a new crypto savings account that will allow users to earn interest on their cryptocurrency holdings. The account will initially support Bitcoin, Ethereum, and USDC.
10. Fidelity Launches Crypto Trading Desk in Asia
Fidelity has launched a new cryptocurrency trading desk in Asia, aimed at institutional investors. The move is seen as a way for Fidelity to expand its presence in the rapidly growing Asian market.
In conclusion, the world of fintech is constantly evolving, with new developments and innovations emerging all the time. These 10 news stories from the week of June 3, 2023, highlight some of the most noteworthy trends and developments in the industry, from the rise of cryptocurrency to the launch of new digital banking platforms. As we move forward, it will be interesting to see how these trends continue to shape the future of finance and technology.
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