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Hi all, Julie here.

Back from the honeymoon! Huge thanks to Parker for handling the newsletter while I was out. Hope you guys enjoyed her writing, as well as all the podcast episodes that aired with Credit Karma, TripActions, Howard Lindzon and Vinovest :)

Today's Partner, Treasury Prime

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Company News

Chipper Cash Launches Free P2P

African fintech Chipper Cash has officially launched a way to offer domestic P2P money transfers in South Africa. The company will now enable South Africans to enjoy free unlimited instant domestic money transfers, invest in cryptocurrencies, and buy and send airtime and data to loved ones. With over 4M users globally, up to 80,000 transactions processed per day, and offices in multiple countries such as Nigeria, Kenya, United Kingdom and South Africa, Chipper Cash has experienced exponential growth since its first launch just a few years ago. The company also alluded to other features coming soon such as cross-border transfers across countries within its network.

Nubank Goes Corporate

For some reason, I’m not too surprised that there was some big news from Nubank while I was gone. The LatAm giant announced the launch of a credit card for companies. Called the Nubank PJ credit card, it will allow customers to make purchases with their corporate account. The product will be offered to a group of 50K customers for testing before a wider rollout. Those who are not included in this first moment can subscribe to an interest list.

Marqeta x Figure

Issuing startup Marqeta announced a partnership with Figure (Mike Cagney’s blockchain startup) to power the launch of the Figure Pay product, an all-in-one digital money app. Figure Pay is built on Figure’s Provenance Blockchain payments infrastructure. Figure Pay offers its users a fee-free deposit account, seamless money transfer to friends and family, and a native Buy Now Pay Later functionality built in, allowing a consumer to decide at the point of sale whether they want to finance any purchase. Marqeta tends to only take on large clients, so there are big expectations for volume and scale here.

Funding and Deals

Wait….nothing? Bracing myself for an influx of funding announcements next week.

Crypto Watch

Robinhood Crypto Wallet

The crypto wallet that my friend Mark Gurman reported about a couple of weeks ago is now official. Robinhood announced it will soon begin testing crypto wallets, which will allow users to trade, send and receive crypto tokens inside the app. Currently, users are able to buy and sell a few cryptocurrencies but can’t send those coins to external wallets or receive them from elsewhere. Anyone know what Robinhood is doing/using for custody here or how that’s going to work? Ping me.

Bad Day For Crypto In China

Woke up this morning to interesting news from Asia, with a big crypto crackdown. The People’s Bank of China (PBOC) posted a list of forbidden activities that included some that were previously in the gray zone of regulation, while the National Development and Reform Commission (NDRC) set out a plan to phase out mining entirely. The “Notice on Further Preventing and Disposing of the Risk of Hype in Virtual Currency Trading” signed by China’s top financial and cyberspace regulators bans all crypto-related activities. Meanwhile, China’s highest state-planning body, the NDRC, posted a separate “Notice on Rectifying Virtual Currency Mining.” It doesn’t outlaw crypto mining completely, but it does order local authorities to get tougher on illegal mining activities with plans to gradually phase out the industry. No new projects will be allowed, and existing ones will be given time to exit.

MoneyLion Gets Into Crypto

Because why not? MoneyLion, which began trading on the NYSE this week (via SPAC), is adding crypto trading to its all-in-one financial services app with buying and selling capabilities for Bitcoin and Ether. CEO Dee Choubey told CNBC "It's a very important first step if we think that the future of fintech is DeFi...We will have created a segment of the population and have exposed them to DeFi, so when it becomes more ubiquitous, they're fully prepared to take advantage of it." Classic Challenger style, MoneyLion won't charge transaction fees to consumers (though it will make money on the spread when they convert their cryptocurrency to dollars).

Twitter, NFTs and Tipping

Twitter announced support for tipping with crypto, NFT authentication and plans to launch its own creator fund in a few weeks to provide audio creators with access to financial, technical and marketing support. Jack Dorsey’s company said it’s planning to explore support for NFT authentication in the near future, which would allow NFT creators to connect their crypto wallets to Twitter. Something happening before then is the ability to tip in crypto (tipping debuted a few months ago but you could only do it in $). Twitter will be using Strike for this, which is a payments application built on the Bitcoin Lightning Network that allows people to send and receive Bitcoin free and instantly.

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We have dozens of amazing roles on our job board from companies such as Cash App, Modern Treasury, Rho, Current and many others! If you’ve had luck landing a job or have roles that you would like to highlight, we want to hear from you!

Ummmm, I spy Fintech Today Community Member Saira in the WSJ!!

I also spy tons of inspiring founders! Huge congrats to all of the entrepreneurs in the next round of Google’s Black Founders Fund :)

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​Parker Jay-Pachirat is Chief of Staff at Fintech Today. Before FTT, she worked in product management for three years across several companies, also gaining experience in venture working for Unovis Asset Management and Impulsum Venture CoLab. Parker graduated from Occidental College in May of 2021 with a specialized focus on brain-machine-interfaces. Her senior thesis interrogated the way in which commercialized brain-machine-interfaces will disrupt society's prevailing models of ability and disability. In her free time, Parker enjoys reading, skiing, and techno.

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