F|T: The FinTech Times – Vitalik Buterin has concerns

Vitalik Buterin
Plus: The push for open banking progress.

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Canadian FinTech leaders press Government of Canada for progress on open banking (BETAKIT)

Canadian tech leaders are calling upon Canada’s federal government to appoint an open banking lead and start implementing the other recommendations made by the Advisory Committee on Open Banking in last year’s long-awaited report.

How the push to modernize Canada’s payment systems went off the rails (THE LOGIC)

In the days before the December holidays, the organization in charge of Canada’s national pyaments infrastructure made a disclosure that came as little surpirse to the country’s FinTech sector.

Corl secures $20 million in USD stablecoin for its revenue-based financing model (BETAKIT)

Corl Financial Investments Inc. has secured $20 million in USD stablecoin from Naos Finance, a decentralized (DeFi) cryptocurrency investment company.

Crypto firm Binance promises again to end Ontario operations: OSC (CANADIAN PRESS)

The Ontario Securities Commission says cryptocurrency exchange Binance has agreed to stop facilitating trades for Ontario account holders, after making similar promises last year but continuing to operate in the country.

While some Canadian tech companies move to support Ukrainians, others cut ties with Russia (BETAKIT)

In a microcosm of global events, some in Canada’s tech community are moving to aid Ukrainians while others are cutting ties with Russian affiliates as the Russian invasion of Ukraine is in its third week.

ClearBank, a UK banking rails provider, raises $230M from Apax to expand into Europe and the US (TECHCRUNCH)

The startup — founded in 2015 and launched in 2017 — is not disclosing its valuation, but CEO Charles McManus said that the company had prior to this raised £195 million from investors that include Canadian businessman John Risley and PE firms PPF Group and Norther Private Capital, and that its new valuation after Apax’s investment is a significant increase.

Bank of Canada to collaborate with MIT on digital currency research project (BETAKIT)

Canada’s central bank announced that it has struck an agreement with MIT Media Lab’s Digital Currency Initiative (DCI) to conduct a 12-month research project that will take a closer look at “how advanced technologies could affect the potential design of a CBDC.”

Tencent faces possible record fine for Anti-Money-Laundering violations (WALL STREET JOURNAL)

Chinese technology giant Tencent Holdings Ltd. is facing a potential record fine for violations of some central bank regulations by its WeChat Pay mobile network, as Beijing toughens its regulations for fintech platforms, according to people familiar with the matter.

Apollo Insurance Solutions secures undisclosed Series B financing from Definity (BETAKIT)

Vancouver-based insurtech startup Apollo Insurance Solutions has secured Series B financing from Definity Financial Corporation. The amount of the raise was not disclosed, while the round closed in early March, but was noted to be a minority investment.

Private and public FinTech valuations have drifted further apart (CRUNCHBASE)

Over the past few months, most recently public, venture-backed fintech companies have seen their market capitalizations slashed. Many are currently trading well below their initial offer price, including prominent names such as SoFi, Marqeta and Robinhood.

Wisedocs closes $4.1 million to bring medical document analysis to “entire” insurance ecosystem (BETAKIT)

Armed with $4.1 million CAD in seed capital and a “broader” vision, Toronto-based Wisedocs plans to chase more enterprise-level customers and fuel its United States expansion efforts, as it looks to move into serving other segments of the insurance industry.

Six months in, El Salvador’s bitcoin gamble is crumbling (REST OF WORLD)

As El Salvador prepares to launch its ‘Bitcoin bond’, interviews with citizens, economists and technologists reveal cracks in the country’s crypto revolution.

Samos launches insurance product for accidental death during surgery (BETAKIT)

Samos has launched a new digital insurance product, backed by Berkley Insurance, that offers protection for accidental death during planned surgical procedures. The Y Combinator insurtech startup provides patients set to undergo scheduled medical procedures like cesarean sections, joint replacements, and heart surgeries with coverage against accidental death.

The man behind Ethereum is worried about crypto’s future (TIME)

Buterin hopes Ethereum will become the launchpad for all sorts of sociopolitical experimentation: fairer voting systems, urban planning, universal basic income, public-works projects. Above all, he wants the platform to be a counterweight to authoritarian governments and to upend Silicon Valley’s stranglehold over our digital lives.

Josh Scott

Josh Scott

Josh Scott is a BetaKit reporter focused on telling in-depth Canadian tech stories and breaking news. His coverage is more complete than his moustache. He was also the winner of SABEW Canada’s 2023 Jeff Sanford Best Young Journalist award.

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