F|T: The FinTech Times – The U.K.’s Open Banking Revolut-ion

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

Canada Stablecorp launches cryptocurrency pegged to Canadian dollar

In November, the Blockchain Venture Capital launched CUSD, the first legally delivered USD-stablecoin in Canada. Jean Desgagne, CEO of Canada Stablecorp, called QCAD the first Canadian dollar stablecoin designed for the mass market.


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TechCrunch

Nova Credit banks $50M to expand its service sourcing credit reports across borders

Nova’s business model is that it pays a fee to the credit bureau where the records are originating in order to source the data, and it then charges the business that is making the request for the data.


The Future Of Payments: Fintech 50 2020

Payments companies continue to be some of the most highly valued businesses in FinTech. Last year, payments startups attracted a gusher of funding, taking in $15 billion globally, a 20% jump over 2018 and more than one quarter of all fintech funding.


SoftBank led 25% of the UK’s FinTech investment last year

The Japanese company’s $100 billion Vision Fund led two deals that accounted for a quarter of the capital raised by the country’s financial startups. SoftBank’s outsize transactions in tech companies have raised questions about valuations and whether some firms in its portfolio have too much money.


TechCrunch

Fenergo raises $80M at an $800M valuation for compliance and other FinTech services aimed at banks

Dublin-based Fenergo builds solutions for banks and other financial management companies to help with regulatory compliance, customer onboarding and other “lifecycle management” requirements.


BetaKit

Toronto machine learning startup Dessa acquired by Square

Dessa, a Toronto-based startup that builds machine learning applications, has been acquired by Square.


Bitcoin Lender BlockFi Raises $30M in Series B Led by Peter Thiel’s Valar Ventures

In the first quarter of this year, the startup plans to develop a mobile app and the ability to send fiat wire transfers. In Q2 2020, BlockFi plans to offer Automated Clearing House (ACH) payments.


Ramp, a corporate credit card to rival Brex and Amex, raises $25 million

Ramp, which comes with built-in expense software, also allows companies to sort their employees by their spending, and figure out “if some employees are wasting too much money,” such as spending 20% more on Uber rides.


TechCrunch

Revolut uses ‘open banking’ to let you aggregate other bank account data within its app

The deal underscores two big themes in FinTech, and specifically payments.


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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.