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FinTech

Trustee says $85 million of customer savings is missing

by Anas Siddiqui
Trustee says  million of customer savings is missing

Jelena McWilliams, chair of the Federal Deposit Insurance Corporation (FDIC), during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Aug. 3, 2021. Al …

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Opinion | Southeast Asia is ripe for Hong Kong start-up expansion

by Walter Watson
Opinion | Southeast Asia is ripe for Hong Kong start-up expansion

Hong Kong’s start-ups excel in fintech, e-commerce and logistics, sectors that are in high demand in Southeast Asia. The region’s large unbanked population and fragmented logistics networks present significant opportunities …

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Nium cuts valuation by 30% in funding round, eyes 2025 IPO

by Walter Watson
Nium cuts valuation by 30% in funding round, eyes 2025 IPO

Westend61 | Westend61 | Getty Images AMSTERDAM, Netherlands — Financial technology startup Nium told CNBC Wednesday it raised $50 million in new funds from investors, and is targeting an initial …

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Bitcoin miners sink millions into AI business, seek billions in return

by Walter Watson
Bitcoin miners sink millions into AI business, seek billions in return

Core Scientific’s 104 megawatt Bitcoin mining data center in Marble, North Carolina Carey McKelvey AUSTIN — For five years, bitcoin miner Core Scientific has quietly been diversifying out of mining …

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Fintech platform Bcas raises €17m for flexible financing solutions

by Judith Hall
Fintech platform Bcas raises €17m for flexible financing solutions

The latest €17 million funding brings Bcas’s total raised to €25m, for the fintech platform dedicated to helping students access higher education without financial barriers. The platform offers a flexible …

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Dutch neobank Bunq hopes to secure UK banking license this year

by Edgar Davis
Dutch neobank Bunq hopes to secure UK banking license this year

Dutch digital bank Bunq is plotting re-entry into the U.K. to tap into a “large and underserved” market of some 2.8 million British “digital nomads.” Pavlo Gonchar | Sopa Images …

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Trustly posts 51% profit jump; CEO says IPO at least 2 years out

by Edgar Davis
Trustly posts 51% profit jump; CEO says IPO at least 2 years out

Trustly CEO Johan Tjarnberg. Trustly The boss of Swedish financial technology startup Trustly says an initial public offering for the company is still a year or two away from happening, …

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Yotta CEO says 85,000 bank accounts locked

by Anas Siddiqui
Yotta CEO says 85,000 bank accounts locked

Oscar Wong | Moment | Getty Images When Adam Moelis co-founded a fintech startup named Yotta in 2019, he wanted to give Americans a new way to save money to …

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Binance ex-CEO Changpeng Zhao begins prison sentence in California

by Edgar Davis
Binance ex-CEO Changpeng Zhao begins prison sentence in California

Former Binance CEO Changpeng Zhao, center, departs federal court in Seattle on April 30, 2024. Jason Redmond | AFP | Getty Images Binance’s billionaire founder Changpeng Zhao has reported to a …

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Balenciaga teams with Alipay on US$650 T-shirt, prompting social media ridicule

by Anas Siddiqui
Balenciaga teams with Alipay on US0 T-shirt, prompting social media ridicule

Spanish luxury fashion brand Balenciaga’s latest offering is a 4,700 yuan (US$650) T-shirt in collaboration with Chinese mobile payment platform Alipay, sparking discussions and chaff on Chinese social media. The …

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