FinTech Weekly Issue #375 - The Going Gets Tough

Issue #375 - The Going Gets Tough

2022-08-04

It’s not news that the fintech space is the protagonist of contradictory stories. While regulators hit companies like the Chinese Ant and Kenyan Flutterwave and Chipper Cash, other fintech firms manage to succeed in sectors like InsurTech and the NFT market. In the meanwhile, the city of Miami launches a new initiative that will mix NFT, Metaverse, Finance and art, and Bloomberg collects the (tragically) funny stories of celebrity crypto endorsements just before the market crash. This and much more in this number of FinTech Weekly, which also wants to share with you the legacy of visionary business people like Dee Hock, to remember that – despite contradictions – fintech is based on solid foundations.

Top Stories

Chinese Billionaire Jack Ma To Cede Control Of Fintech Giant Ant Group: WSJ
Chinese Billionaire Jack Ma To Cede Control Of Fintech Giant Ant Group: WSJ
via Forbes

The billionaire Jack Ma plans to give up control of the Chinese fintech giant Ant. The decision comes after years of pressure from the Chinese government, which also halted Ant’s IPO in 2020.

Top Events

Chief Data & Analytics Officers, Fall
Chief Data & Analytics Officers, Fall
via FinTech Weekly

Attend the premier conference for data & analytics leaders in North America – Chief Data & Analytics Officers, Fall on October 10-12, 2022 in Boston, MA. New this year is a personalized learning and networking track for data & analytics executives serving the Financial Services industry. Join your peers who understand your challenges and celebrate your successes when it comes to the nuanced intricacies of data & analytics. Qualified data & analytics folks can attend at no cost with a VIP pass.

Crypto

U.S. crypto firm Nomad hit by $190 million theft

Blockchain Cryptocurrency

U.S. crypto firm Nomad hit by $190 million theft
via Reuters

The US-based crypto company Nomad is now among the businesses hit by a crypto theft. The company, which is backed by investors like Coinbase Global, was the victim of a $190 million dollar attack that involved Nomad’s crypto bridge.

The Disastrous Record of Celebrity Crypto Endorsements

Cryptocurrency NFT

The Disastrous Record of Celebrity Crypto Endorsements
via Bloomberg

Bloomberg lists all the disastrous celebrity crypto endorsements: from Matt Damon to Tom Brady and Mike Tyson, all these celebrities endorsed cryptos and NFTs just before the market crash.

Banking

Visa's founder, and his influence on today's fintech

Banking Business

Visa's founder, and his influence on today's fintech
via American Banker

Dee Hock passed away in July 2022, and this article helps understand how his work and beliefs were able to set the ground for modern fintech. The founder of Visa was able to create an environment more decentralized and inclusive than traditional banking, and its success story could help fintech businesses to understand why this approach is fundamental in today’s world.

Kenya’s banks ordered to stop dealing with 2 fintech firms

Regulation

Kenya’s banks ordered to stop dealing with 2 fintech firms
via Zawya

Regulators hit two Kenyan fintechs, Flutterwave and Chipper Cash, for not having the necessary licenses to operate in the financial sector. The Central Bank of Kenya has informed the customers of the two companies to stop dealing with the two fintechs.

Innovation

KuCoin Launches Landmark NFT ETF, Tracking Major Collections

Blockchain NFT

KuCoin Launches Landmark NFT ETF, Tracking Major Collections
via BeInCrypto

The popular crypto exchange KuCoin has just launched a platform that will make non-fungible tokens (NFT) fungible: in partnership with Fracton Protocol, the company was able to create an NFT ETF platform.

Podcasts and Videos

The Latam Insurtech Accelerator: Taking Latin American Insurtech to the next level, Ep 6

Business InsurTech

The Latam Insurtech Accelerator: Taking Latin American Insurtech to the next level, Ep 6
via LatamList

In this episode of Hacking Insurance, the host of the podcast – Rodrigo Alfonso – is joined by Hilario Itriago (Boxx Insurance USA) and Pablo Tiscornia (The Latam Insurtech Accelerator), to discuss the developments of the InsurTech sector in the Latam region.

Fintech

Kenyan insurtech Lami raises $3.7M seed extension led by Harlem Capital

Business InsurTech Investments

Kenyan insurtech Lami raises $3.7M seed extension led by Harlem Capital
via TechCrunch

Lami Technologies, the Kenyan insurtech, has raised $3.7 million investments for its insurance products. Thanks to its digital insurance platform and API technology, the company is able to create tailored solutions for each customer.

How NFTs Create Unique Consumer Experiences — And Expand Marketing’s Reach

Business Metaverse NFT

How NFTs Create Unique Consumer Experiences — And Expand Marketing’s Reach
via TotalRetail

While several businesses enter the NFT market and the Metaverse, it’s useful for business owners to understand how these innovative sectors can help their businesses to focus on customers and improve their marketing strategies.

Miami Collabs With TIME, Mastercard, Salesforce to Sell 5K NFTs

Business NFT Web 3.0

Miami Collabs With TIME, Mastercard, Salesforce to Sell 5K NFTs
via Blockworks

Miami has just announced a program that integrates the city with the Web 3.0 experience. 56 local artists will create an NFT collection of 5000 pieces: in partnership with TIME, Mastercard and Salesforce, the program will allow NFT owners to participate in exclusive events and experiences hosted in the city.







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Older messages

FinTech Weekly Issue #374 - Let’s See The Glass Half Full

Thursday, July 28, 2022

Is Jeremy Almond right? His words are a wave of optimism.Despite these challenging times, fintech supporters should be proud of what they're creating. See Online Issue #374 - Let's See The

Issue #373 - The Other Way Around

Thursday, July 21, 2022

Do robots need humans? Or is it the other way around? AI seems not the only thing that goes against expectations in the fintech space. See Online Issue #373 - The Other Way Around 2022-07-21 While

Issue #372 - Jewels & Cars: That's What They Have In Common

Thursday, July 14, 2022

If you're about to answer “expensiveness”, you're wrong. Here are a few examples of how different businesses are adapting to financial technology. See Online Issue #372 - Jewels & Cars:

Issue #371 - Metaverse Makes People Scratch Their Heads

Thursday, July 7, 2022

Metaverse and NFT seem still to be two mysterious words to many. Especially for those who run a business, it's time to make a choice... See Online Issue #371 - Metaverse Makes People Scratch Their

Issue #370 - Shocks & Solutions: A FinTech Modern Story

Thursday, June 30, 2022

What are useful answers during economic downturns, and with a high level of competition? See Online Issue #370 - Shocks & Solutions: A FinTech Modern Story 2022-06-30 Financial technology is well

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