The web of investment bank technology, there are 20 or more core vendors on which systems run. Adding Blockchain to the mix merely adds a 21st system, which is by design incompatible with everything else. Thus enterprise chain projects have been focusing on integration and proofs of concepts, not re-engineering the core. But we know how this plays out -- as it has over and over again across Fintech. Digitizing "unimportant" channels and hoping for them to succeed simply doesn't work. See JP Morgan giving up on Finn, or Northern Trust capitulating its pioneering idea into Broadridge, or any other number of examples from Bloomberg to LPL Financial. Even the struggles of Digital Asset could be used as an example of the danger of working oneself into an existing web of solutions, and trying to preserve their dependencies.
Remine Raises $30M in Series A Funding Bank of England FMI Annual Report: The Growth of Fintech Continues to Have...
Cryptocurrency exchange Binance was victims of what the CEO called a well orchestrated large scale security breach; more than $40mn...
Binance has announced a new $500 million lending facility to support struggling public and private bitcoin miners.
Binance announced a partnership with Mastercard this week to launch a prepaid card in Brazil, the second initiative of its kind in Latin America after a previous rollout in Argentina.
In this analysis, we explore an overarching framework for the M&A activity in the fintech, big tech, and crypto ecosystems. We discuss acquihiring, horizontal and vertical consolidation, as well as the differences between growth and value oriented acquisition rationales. The core insight, however, is about the arbitrage between the fintech and financial services capital markets, as evidenced by the recent transactions for Starling and Figure.
Tuesday afternoon Binance CEO Changpeng Zhao announced on Twitter an agreement to buy FTX.com, the non-U.S. section of FTX.
Argentina's inflationary economy has reached new highs leading more people to crypto. Binance hopes to serve them with a seamless solution.
Binance, one of the largest crypto exchanges in the world, is teaming up with Cred to offer cryptocurrency backed lending...
Binance said it would pull out of the FTX deal in a tweet, citing corporate due diligence and media reports.