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.
Wealthsimple announces $114 million investment led by TCV, claims $1.4 billion valuation (BETAKIT)
Toronto-based FinTech startup Wealthsimple has raised $114 million CAD in equity financing.
Central banks must move faster on digital currencies amid COVID-19, Bank of Canada says (CBC)
A Bank of Canada official says pandemic-related shifts in how people shop means central banks must speed up work on creating their own digital currencies.
Plaid denies misleading customers, using trademarks unfairly after TD Bank lawsuit (CTV NEWS)
The San Francisco-based company said in a statement to The Canadian Press that Plaid’s role in transactions is made clear to consumers and it was caught off guard when TD’s U.S. subsidiary filed a lawsuit.
Cryptocurrency exchange OKEx suspends withdrawals while claiming funds and assets are safe (THE GEORGIA STRAIGHT)
An online Malta-based cryptocurrency and derivatives exchange has temporarily frozen all of its account holders’ digital assets.
Eight startups joining Intuit Canada, Highline Beta’s Prosperity accelerator (BETAKIT)
Intuit Canada and venture capital firm Highline Beta have revealed the eight startups in the inaugural cohort of the Intuit Prosperity Accelerator.
Move over Monzo: Investors love B2B FinTechs now (SIFTED)
European funding is now more heavily concentrated in business-to-business (B2B) FinTechs than in consumer FinTechs, according to Dealroom data.
Coinbase received 1,914 requests in 6 months from FBI, ICE, and other agencies
(FORTUNE)
According to the report, Coinbase received 1,914 requests for information in the first six months of 2020 alone.
New proposed parameters for emergency wage subsidy that would be in place until December (BETAKIT)
The federal government has revealed what the Canada Emergency Wage Subsidy could look like until the end of its tenth period in December.
Privacy watchdog to probe Klarna after email backlash (BBC)
The Information Commissioner’s Office said it will make enquiries into Klarna after scores of angry people questioned why it had their details despite never doing business with the payments firm.
European FinTech giant Revolut is close to applying for a bank charter in California, sources say (CNBC)
Even though Revolut’s bank charter will be with California, it will allow the lender to operate widely throughout the U.S. via interstate agreements, said one of the people, who declined to be identified speaking about the start-up’s private plans.
Today in hires: Traction Guest, TextNow, Deep Genomics, Perk Labs (BETAKIT)
Four Canadian companies have filled positions on their leadership teams. Here’s a breakdown of who is joining and what they bring to the table.