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News (808)

SoFi to Soak Up Galileo in $1.2B 'Cash-and-stock' Deal

Personal finance company SoFi will acquire Galileo for $1.2 billion in a “cash-and-stock” deal. So reports CNBC.

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Firm Readies for Inevitable U.S.-backed 'Digital Dollar'

As the federal government weighed a bevy of economic stimulus options, talk of a U.S.-backed digital dollar was briefly considered as a potential weapon to combat the economic savagery of COVID-19.

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Venmo, Cash App Among Those Looking to Use Biometrics to Disburse Stimulus Funds

Fintechs, like Cash App and Venmo, that support “biometric security” have been in talks with the U.S. Treasury Department to work on using the technology to help deliver economic stimulus payments. So reports Biometric Update.

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Plaid Injection Into Excel Transforms Microsoft Staple Into Fintech

Microsoft Excel is shifting to a fintech app thanks to a new collaboration with startup Plaid. So reports TechRadar.

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Revolut Rolls Out in U.S., Continues Worldwide Expansion

Revolut, one of Europe's largest digital banking apps, has launched in the U.S. So reports TechSpot.

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Russia Looks At Opening Up the Sandbox

The Russian government is considering instituting a regulatory sandbox for companies exploring AI and distributed ledger technologies. So reports Coindesk.

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Sioux Falls Gets First Fintech Accelerator, $30K Investment Heading to Five Inaugural Companies

Falls Fintech launched an accelerator earlier this month with an inaugural cohort of five startup companies in Sioux Falls. So reports the Argus Leader.

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PayPal Looking to Blockchain Expert to Curb Money Laundering

PayPal is looking for a blockchain expert to identify how it could be used in financial crime prevention. So reports Coindesk.

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Fintech Lenders Stare Down Threat as Borrows Face Income Loss

Fintech lenders are among those facing the most substantial risks from the economic slowdown—many are facing imminent income loss—resulting from COVID-19’s rapid spread. So reports Forbes.

Purely Capital Goes Online Thanks to $150M Line of Funding

Purely Capital announced it is launching an "entertainment FinTech receivables platform" on the back of a $150 million funding line from Finch Capital. So reports Yahoo! Finance.

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