The Federal Deposit Insurance Corporation (FDIC) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). Square Financial Services will originate commercial loans to the retailers that...
A “future bank” focused solely on providing regulated services for digital assets is preparing to start, according to Coindesk on Monday (Feb. 24). Called Avanti, the venture is put forward by Caitlin Long, a legislative champion for blockchain and a former Wall Street veteran. Long...
Online brokerage startup Robinhood has introduced a cash management service that will give customers 1.8 percent interest on any money they don’t have in stocks, Bloomberg reported on Wednesday (Dec. 11). This new service follows last year’s unsuccessful launch of a checking and savings account...
The dispute over the Office of the Comptroller of the Currency‘s (OCC’s) national bank charter, which became available to FinTech firms last year, has reportedly caused technology conglomerates to shy away from a tool that aims to provide nonbank firms with a more streamlined way...
July 31, 2020
Colin Walsh got lots of laughs five years ago when he talked of his intention to launch a financial technology (FinTech) startup. Since then, the skepticism has evaporated and the CEO of Varo Money Inc., the San Francisco-based online bank, had the last laugh. On Friday (July 31), the Office of the Comptroller of the […]
March 19, 2020
The Federal Deposit Insurance Corporation (FDIC) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said...
February 25, 2020
A “future bank” focused solely on providing regulated services for digital assets is preparing to start, according to Coindesk on Monday (Feb. 24). Called Avanti, the venture is put forward...
December 12, 2019
Online brokerage startup Robinhood has introduced a cash management service that will give customers 1.8 percent interest on any money they don’t have in stocks, Bloomberg reported on Wednesday (Dec....
