F|T: The FinTech Times – Ponzi schemes and wash trading

Welcome to the FinTech Times, a weekly newsletter covering the biggest FinTech news from around the globe. If you want to read F|T before anyone else, make sure to subscribe using the form at the bottom of this page.


Pascal Financial integrates with Fidelity as it launches private placement offering (BETAKIT)

Pascal Financial has announced that its platform now offers integration with Fidelity Clearing Canada.


Halal FinTech startup Wahed closes $25M led by Saudi Aramco’s investment arm (TECHCRUNCH)

New York-based FinTech startup Wahed (meaning “One” in Arabic) describes itself as a digital Islamic investment platform and as the world’s first “halal robo adviser.”


Cryptocurrency exchange CEO ordered employees to make fake trades, leaked documents show (VICE)

Canadian exchange Coinsquare was practicing so-called ‘wash trading’, according to leaked emails, Slack chats, and other files.


OSC finds Quadriga CEO ran “Ponzi scheme” leading up to crypto exchange’s downfall (BETAKIT)

A new report released by the Ontario Securities Commission has revealed that QuadrigaCX collapsed due to fraud committed by its CEO, Gerald Cotten.


The US Gov is paying a crypto startup to explore a digital dollar (FUTURISM)

The U.S. federal government awarded a grant to the blockchain startup Key Retroactivity Network Consensus (KRNC) to study the feasibility of integrating cryptocurrency into the economy.


This bootstrapped startup built an ‘eBay for Bitcoins’ and is heating up India’s crypto market (YOURSTORY)

Paxful, a peer-to-peer bitcoin startup, launched in India this year, and saw record trading volumes after the Supreme Court lifted the ban on cryptocurrencies.


Wave expands into banking with new small business account and debit card (BETAKIT)

Toronto-based Wave Financial is launching a small business banking and bookkeeping solution called Wave Money.


FinTech startup Fincy secures $11 Mn from parent company GBCI Ventures (ENTREPRENEUR)

The FinTech will utilize the fund to expand its customer base in Singapore and accelerate its growth, first across southeast Asia followed by the rest of Asia


FinTech firms must properly manage cash flow, as COVID-19 is making it challenging to assess credit risk, Monedo CEO says (CROWDFUND INSIDER)

Chan said the company’s data scientists are using AI and machine learning to enhance the lending process. Monedo uses advanced algorithms to determine customers’ credit worthiness.


Coinsquare CEO says company was contacted about potential data breach affecting thousands of users last year (BETAKIT)

Coinsquare had indications over a year ago that thousands of its customer’s personal data had been breached, but only notified a handful at the time.


Pinwheel is the API platform for income verification that every FinTech and neobank needs (TECHCRUNCH)

The company officially came out of stealth and announced that it has raised a $7 million seed round from Josh Kopelman at First Round Capital and Greg Bettinelli at Upfront Ventures, who will both join the company’s board.


Belgian FinTech startup Silverfin raises $30 million Series B to continue international expansion (TECH.EU)

Belgian FinTech startup Silverfin has raised a Series B round of $30 million, according to De Tijd. The round was led by Hg Capital with participation from Index Ventures and SmartFin Ventures.


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Caitlin Hotchkiss

Caitlin Hotchkiss

Content coordinator, social media smartypants, wordsmith, Human Workflow™. Exists primarily on coffee, cat pictures, German dance metal, and pro wrestling. I will fight for your right to the Oxford comma.