News 

Global fintech boom continued in Q2, with 383 startups raising a record $20 billion

“That $6.3 billion was the most raised in a quarter since fintech companies raised $8.3 billion in Q2 2016, of which $4.5 billion was also a funding round for Ant” writes Chris O’brien for venturebeat.com. But even without that massive round, VC-backed fintech companies raised $6.3 billion in funding, up from $5.6 billion in the previous quarter, according to a report released today by CB Insights.In any case, the 383 deals in Q2 2018 were the most ever, topping the 349 deals in Q1 2018. Source: venturebeat.com Share This:

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MovieCoin Delivers Fintech Solutions for Film and Entertainment Companies

“The Company and its affiliates are also developing multiple entertainment finance techniques to leverage the combined power of the MovieCoin platform with Moviecoin Tokens” reports financemagnates.com. Ultimately, the unique combination of the MovieCoin platform, Moviecoin Tokens and tokenization of MovieCoin Smart Assets created on the Company’s platform will be used to create a global yet local film finance platform to be used by major studios, production companies, investors and lenders.These tokens will finance 8 to 10 widely-released theatrical films on an annual basis during the term of the Fund. Source: financemagnates.com…

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NY Regulator Looks To Interest Rate Caps For FIs And FinTech Firms

“However, looking elsewhere beyond U.S. shores, one will find another pairing between a traditional financial services firm and a FinTech” reports pymnts.com. The duo will integrate Strand’s business financial management offering and Mastercard’s digital payments technology.Yet, noted the publication, only one traditional banking player in the region, Standard Chartered, has said it will apply for that license, and the deadline looms at the end of August.In the past (and the present), some online lenders have sought to help leverage that exemption as a way to avoid relatively lower interest rate…

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Futures News 

SGX to Launch Custom FX Futures in Conjunction with FinTech Partners

“SGX FlexC FX Futures will enable investors to trade custom FX futures, as though they were over-the-counter contracts, and clear those trades on the SGX platform” reports financemagnates.com. Traders will be able to negotiate deals privately, but expiration dates are registered and cleared like a regular SGX FX futures contract.The Stock Exchange of Singapore (SGX) announced on Wednesday that it has launched a new FX futures solution. Source: financemagnates.com Share This:

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Maintaining Compliance In A Market Of Bank-FinTech Tie-Ups

“The two-sided benefits of a bank-FinTech collaboration are certainly beneficial to FinTech firms like additiv” reports pymnts.com. Kull pointed to Orange’s cybersecurity unit that provides corporate customers with risk management and data security services.According to a recent report on bank-FinTech collaboration, the biggest competitive threat to an FI is not a FinTech, but another FI better leveraging the benefits of FinTech collaboration.The agreement highlights today’s collaborative spirit of financial services, not only as the firms team-up with banks, but as major telecommunications firms work with smaller FinTech firms, too. Source: pymnts.com Share…

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EU watchdog says some banks too plodding to win fintech race

“At this point, the predominant type of relationship between incumbent institutions and fintech is partnership and collaboration with fintech firms,” said the report” writes Midwest Communications Inc for 95kqds.com. London has long been the main fintech center in Europe but Britain’s departure from the EU next March has spurred Berlin, Paris, Luxembourg and other centers to offer sweeteners to British fintech firms to relocate.LONDON (Reuters) – Banks saddled with bad loans risk being left behind by nimbler upstarts and Big Tech in the rapidly evolving fintech race, the European Union’s…

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Brex just secured $57 million and is now launching globally

“US-based corporate credit card provider for startups, Brex, has secured a $57 million funding round from investors including Y Combinator Continuity Fund, Peter Thiel, Max Levchin, Yuri Milner, VC Ribbit Capital, and former Visa CEO, Carl Pascarella” writes Lea Nonninger for businessinsider.com. Brex was founded last year and aims to provide startups with a quick and effective credit card option — it has already attracted 1,000 customers and is now launching globally.This credit card offering will likely be appealing to small businesses.Brex claims that customers can receive a virtual credit…

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BIS wants tighter rules for funds offering credit, fintech

“The macroprudential perspective should be extended to asset management funds to address these concerns,” the BIS said” writes Midwest Communications Inc for 95kqds.com. These funds are known as shadow banks because they also offer credit.But close cooperation was needed between regulators and central banks to deal with risks to the wider financial system, the BIS said.The Financial Stability Board, based at the BIS in Basel, Switzerland, said in March that shadow banking from open-ended bond funds, hedge funds, money market funds and other types of funds rose 7.6 percent to…

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Adyen IPO: Everything you need to know about the $8 billion fintech company

“Adyen shares will begin trading on Wednesday in what will be one of Europe’s largest technology initial public offerings (IPOs)” writes unknown author for cnbc.com. But you’d be forgiven for not knowing much about the Dutch financial technology or fintech firm as it has flown under the radar for many years. Source: cnbc.com Share This:

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Markets News 

This European unicorn is changing the financial industry — here’s its unique business model

“It’s competing with the biggest players in its business and shows no timidity when it comes to thinking big in regards to global financial markets” writes unknown author for businessinsider.com. There is one exception: Polish financial services provider Cinkciarz, the company that inspired the Conotoxia Holding Group.Now, it’s focused on disrupting larger, global financial markets.It is dedicated to being “go-to” platform for financial services moving forward, and is planning to include currency lending in the very near future.The company’s technological and financial independence have been at the core of its…

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