Quote To Start The Day: “Amazon is the most formidable. If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”
Source: Alex Rampell
One Big Thing In Fintech: While headlines from the blockchain industry have recently been dominated by Bitcoin, the biggest story in the space has still largely been overlooked (or missed) by most news outlets: the rise of DeFi, or Decentralized Finance.
Over the last year, a “decentralized Wall Street” has emerged, with users locking up over $50 billion worth of assets into applications that are replicating traditional financial products on decentralized blockchain infrastructure.
Source: Nasdaq
Other Key Fintech Developments:
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Liti Capital announces token launch.
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Deutsche, Fiserv have partnered up.
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The battle rising in European fintech.
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Toss secured $406M at $7.4B value.
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Rewards program for rent payments.
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TrueLayer launches verification API.
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MAJORITY raises $19M seed round.
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Fifth Third acquires fintech Provide.
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TT adds Cboe trading functionalities.
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Fundbox added to board of directors.
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Tabby taps $50M financing to grow.
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Myos raises $30M Series A funding.
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Moneycorp unveils enhanced APIs.
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Blockchain Capital added new funds.
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Zeller lands $50M AUD led by Spark.
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Tradefeedr adds FX trading database.
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Mollie secured $800M for payments.
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Bueno Finance secured $3M funding.
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Magma added Obsidian quant fund.
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Egypt laws will spark fintech growth.
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Nonbank lenders tackled mortgages.
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Banks, credit unions lend to pot firms.
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CommerceIQ closes $60M Series C.
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State Street, Canoe have partnered.
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JPMorgan outlines visions for future.
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Unpacking Amazon’s fintech visions.
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Discover moves into crypto with hire.
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Third Point leads CipherTrace round.
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NCR is reinventing ATM technology.
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Rivalry secured $22M funding round.
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Sporttrade secured $36M for betting.
Watch Out For This: With consumption habits of younger and older Americans moving in opposite directions, advertisers and media companies will likely need a clear understanding of their target audiences in order to be successful.
Source: Visual Capitalist
Interesting Reads:
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Delta variant gaining across the US.
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Canadians looking to regulate media.
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Oil could reach $100/barrel next year.
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Is inflation or deflation the bigger risk?
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Automation increase unemployment?
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Morgan Stanley requires vaccination.
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Which VC-backed SPACs will come?
Market Moving Headline: Federal Reserve Chair Jerome Powell said the price increases seen in the economy recently are bigger than expected but reiterated that they will likely wane.
Source: Bloomberg
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