This week most of the big fintech news stories revolved around crypto. Although Brex led the week’s news with the announcement of a new software product that had nothing to do with crypto, we also had news from Circle, BlackRock, the DTCC, Moonpay and more. Here are what I consider to be the top ten fintech news stories of the past week.
Fintech Brex bets big on software, lands DoorDash as a customer from TechCrunch – Brex is adding a completely new business line, moving beyond financial services and into software with the launch of Brex Empower. They are also moving upstream to enterprise customers with the announcement of DoorDash as their first big customer.
Circle Raises $400M as BlackRock Explores USDC from CoinDesk – Even though Circle is supposed to be going public via a SPAC soon they have closed another funding round with the likes of BlackRock and Fidelity investing. This is certainly a bullish sign for USDC.
Larry Fink Says BlackRock Is Studying Cryptocurrencies from The Wall Street Journal – Speaking of BlackRock, CEO Larry Fink said in a conference call this week that the world’s largest asset manager has been working with Circle to manage some of its cash reserves and is looking closely at the crypto sector.
Major US Clearing House Experiments with CBDC for Real-Time Settlements from The Defiant – The Depository Trust & Clearing Corporation (DTCC) is building “Project Lithium”, a CBDC prototype to speed up the clearing and settlement of trades. The DTCC processed an astonishing $2.37 quadrillion worth of securities in 2021 so making settlement more efficient could have some real flow-on benefits.
Step to add stock, crypto investing for teens from LendIt Fintech News – Teen financial app Step is adding an investing feature that will allow its users to invest in the stock market as well as crypto (with the permission of their parents).
Every Thursday, the LendIt Fintech News team and a special guest discuss the news of the week live on LendIt TV, YouTube, LinkedIn, and Twitter. We have now made the show available in podcast format – click on the audio player below.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.