FinTech Weekly - Fintech News Issue #350

Tamas Kadar and Bence Jendruszàk found an innovative way to prevent frauds: with their company, SEON, the two former crypto professionals realized a system that will help all online businesses.

China's regulators just issued a five-year development plan: regulators outlined standards to regulate digital currencies, the financial industry, green finance and fintech in gereral. The goals of these standards are risk prevention, growth and a modern and regulated financial system.

DriveWealth - the startup that helps fintech firms offer stocks - is acquiring a crypto firm - Crypto-Systems. According to the CEO of DriveWealth, Bob Cortright, they want to avoid unsustainable fees and wild spreads, to make crypto markets more "regular".

Millenials want to be homeowners: many firms noticed this generational goal, and Xrent - the New York based fintech - is helping them with rent-to-mortgage program.

According to Finextra, the fintech industry managed to double investments: the industry received an impressive $91.5 billion worth investments worldwide. As Satya Patel (co-founder of Homebrew) stated, "financial services is one of the biggest sectors on the globe".

The Egyptian fintech Kashat and Mastercars signed a five-year agreement that will allow the fintech to better provide financial services to Egyptian people - especially the unbanked. The goal? Creating a more financial inclusive country.

Dan Novalis, CEO of 2Novas, give advice on how small banks can counter the power of fintech firms and large banks thanks to specific marketing strategies.

Later this year the new Apple's feature will be available for users in the US: Tap to Pay will allow users and retailers to make safe contactless payments.

American Express launches Amex Rewards: US customers will be able to enjoy no-fee, no minimum balance account, and each user will be rewarded with 1 point for every $2 spent and a 0.5% yield on balance.