F|T: The FinTech Times – The rise of zero-commission investing

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.

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BetaKit

US insurance giant Travelers acquires majority stake in Zensurance

Documents obtained by BetaKit show that Travelers now owns approximately 60 percent of the Toronto-based FinTech startup.


Zafin

Zafin Recommends: Interview with an Expert: The Future of AI & Banking with Don Halliwell

“If you think of the three main pillars or focus areas of banks, we’re talking customer behavior, customer experience, profitability, and operational efficiency. AI stands to drastically improve all of those areas so banks are certainly looking at it. If they’re not, they should be.”
– Don Halliwell, Senior Director Marketing & Communications at Zafin


techcrunch

Credit Karma acquires mortgage platform Approved

“The acquisition is just the continuing effort of saying, ‘look, we’re serious about taking our scale and being that trusted destination for our members as it relates to helping them with their mortgage.'”


bk

Impak Finance raises $1.1 million from angel investors

Participants in the angel round include Anges Québec, Anges Québec Capital, and private investors from Canada and France.


coindesk

Goldman Sachs, JPMorgan invest in Axoni’s $32 million funding round

Axoni said it plans to use the funds to continue developing both its data synchronization technology and its ethereum-compatible smart contracting language, AxLang, as well as increase the number of products relating to its auditable distributed ledger-based network, dubbed AxCore.


techcrunch


Messaging firm Line launches a dedicated crypto fund

The fund will be called Unblock Ventures and it will initially have a capital pool of $10 million.


cnbc

Square’s stock jumps to all-time high after Cash app downloads surpass PayPal’s Venmo

The Cash app’s cumulative downloads now total 33.5 million, exceeding Venmo’s 32.9 million for the first time ever, after Square’s service grew three times faster than its competitor from PayPal in July.


techcrunch

Square can now process chip cards in two seconds

Square said its contactless and chip Readers and Registers can now process chip cards in two seconds. To achieve this, the company is streamlining the process so that you can remove your card as soon as it’s read, without waiting for the response from the card issuer.


coindesk

Overstock blockchain spin-off raises $134 million – with millions more committed

TZero, an alternative trading system for securities issued on a blockchain, has raised $134 million in its security token offering.


finextra

Coinbase acquires decentralised ID startup

Coinbase has acquired Distributed Systems in a bid to create a decentralised digital identity platform for crypto-wallet enthusiasts and Web merchants.


bk

Wealthsimple launching zero-commission stock trading service in Canada

Wealthsimple Trade will give users access to unlimited zero-commission trades of over 8,000 publicly-traded stocks and ETFs listed in Canadian and US exchanges.


quartz

China’s payments giant is ready to boost financial inclusion in Africa

Ant Financial, the payments and financial services arm of Chinese e-commerce giant Alibaba, is expanding to Africa to promote digital financial inclusion in the continent through investments and technical assistance.


bk

Progressa closes $84 million funding round as company preps for IPO

Progressa said the latest funding round is expected to be its last private round as the company is prepping for an IPO before the end of 2019.


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Amira Zubairi

Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.