GBP News 

What Lies Ahead for a British Fintech Industry Outside the EU

“And as London scrambles to train and hire the requisite local talent to fuel the booming fintech industry, other capitals are likely to capitalize on the lag” writes Finance Magnates Staff for financemagnates.com. London Summit 2019 Launches the Latest Era in FX and Fintech – Join Now Still, commentators in the UK and EU are divided on the specific outcomes, specifically for the fintech industry, of a post-Brexit union.Even industries as robust and fast-growing as fintech have reported partial moves to secure EU states like Germany, France, Holland, and Ireland. Source:…

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Crypto News 

Opera-Backed Fintech OPay Seals $120M Investment to Grow Across Africa

“Lagos-headquartered fintech Opay has sealed $120 million in a series B financing round from a host of high-profile Chinese investors” writes Marie Huillet for cointelegraph.com. Since its Series A $50 million round, OPay’s business in Nigeria has grown to 140,000 active agents and hit $10 million in daily transaction volume, according to TechCrunch.The round reportedly included big-name venture capital investors Sequoia China and Softbank Asia, IDG Capital, alongside Meituan-Dianping, GaoRong, Source Code Capital, BAI, Redpoint and GSR Ventures. Source: cointelegraph.com

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Crypto News 

Ping Ann’s Blockchain Arm Files for US IPO, Eying to Raise $100 Million

“Chinese fintech firm OneConnect on Wednesday filed for an initial public offering (IPO) with the United States Securities and Exchange Commission (SEC)” writes Arnab Shome for financemagnates.com. Backed by Softbank, OneConnect is fintech arm of Chinese insurance giant Ping An and is working on blockchain and artificial intelligence.The company claims that its FiMAX blockchain technology can handle up to 50,000 transactions per second with a latency of fewer than 0.5 seconds.The US filing came amid a failed attempt by the company to publicly list its shares in Hong Kong. Source: financemagnates.com

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News 

GMEX Ties with DPN to Launch Tokenized Hybrid Fund

“GMEX Technologies on Wednesday announced its partnership with Digital Partners Network (DPN) to launch a tokenized hybrid fund called Digital Investment Fund PCC (DIF)” writes Arnab Shome for financemagnates.com. London Summit 2019 Launches the Latest Era in FX and Fintech – Join Now The hybrid fund has been set up as a Protected Cell Company (PCC) with three initial cells – digital fintech fund (DFF), digital green finance equity fund (DGFEF), and digital green finance debt fund (DGFDF).Registered in Seychelles, the fund is aiming to bridge the gap between the…

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News 

Fintech Startup DEXTF Secured $460,000 in LuneX-Led Funding Round

“Decentralized Traded Funds (DEXTF) has closed its seed funding round after raising $460,000, The Business Times reported” writes Arnab Shome for financemagnates.com. We are excited to be a co-investor in DEXTF’s seed funding round, to help scale their platform globally.”. London Summit 2019 Launches the Latest Era in FX and Fintech – Join Now The Singapore-based fintech startup is directly connecting investors and asset managers, eliminating the need for expensive intermediaries.The round was led by LuneX Ventures and SGInnovate, along with participants including London-based hedge fund CDAM and other undisclosed…

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News 

These are the hottest fintech startups and companies in the world

“Fintech industry funding has already reached new highs globally in 2018, with overall funding hitting $32.6 billion at the end of Q3” writes Lea Nonninger for businessinsider.com. And some fintech companies, including a number of insurtechs, have dipped into new markets to escape heightened competition.What was once a disruptive force in the financial world has become standard practice for many industry leaders.There’s plenty more to learn about the future of fintech, payments, and the financial services industry. Source: businessinsider.com

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Markets News 

Uber Money Launched: Is Uber Aping Ola’s Diversified Portfolio?

“NYSE-listed cab-hailing company Uber, on Monday (October 28), announced its entry into fintech services with Uber Money” writes Bhumika Khatri for inc42.com. Ola launched its fintech service Ola Money in 2015; will Uber be able to catch up?. Meanwhile, Uber has joined the bandwagon of co-branded credit cards as it said it is relaunching the Uber Credit Card in partnership with Barclays.This year the company launched Ola Money-SBI Credit Card, with plans to issue as many as 10 Mn credit cards by 2022. Source: inc42.com

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News 

US CFTC Turns Its Fintech Lab Into an Independent Office in D.C.

“The United States Commodity Futures Trading Commission (CFTC) gives its fintech research unit LabCFTC status as an independent operating office” writes Helen Partz for cointelegraph.com. The primer is a public educational tool for market participants and consumers, and is part of LabCFTC’s effort to provide information about fintech innovation to the public.In addition to LabCFTC’s new status, the office also released its primer on artificial intelligence in financial markets.Established by the CFTC in 2017 with the goal of engaging with the fintech community, LabCFTC will now be reporting directly to…

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News 

Fintech unicorn Kabbage ends Q3 with nearly $100 in revenue amid loan growth

“Kabbage uses data to lend to small businesses that traditionally would have trouble getting loans from banks” writes Emily Bary for marketwatch.com. Financial technology unicorn Kabbage finished the third quarter with just shy of $100 million in revenue as the company continued to grow its small-business lending platform.The decade-old company told MarketWatch that it generated $99.4 million in third-quarter revenue as loan originations ticked up 43% on a year-over-year basis.The company gives borrowers access to a line of credit that they can pull from when they need cash..The company said…

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