Financial technology
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We include updates on Cryptocurrency, Stripe, Inc., Fintech, Business intelligence, Crowdfunding, Mobile payment, Peer-to-peer lending, Nium, Robo-advisor, Tipalti, DataTreasury, Debt Exchange, ISO 9564, Douglas Merrill, WePay, Customer value maximization ... and more.
| 2025 | Crowdfunding is expected to reach US$1 trillion in total global fundraising. |
| February 24 2025 | CFPB dismissed its enforcement action against SoLo Funds. |
| January 23 2025 |
Cryptocurrency
President Donald Trump signed Executive Order 14178, revoking previous digital assets orders, prohibiting central bank digital currency establishment, and establishing a group to propose a federal regulatory framework for digital assets within 180 days.
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| January 2025 | SoLo Funds released its 2025 Cash Poor report, based on a survey of 2,000 American adults, revealing that cash poor Americans paid $39 billion on top of advertised Annual Percentage Rate (APR) rates for short-term loans. |
| January 1 2025 | Star Citizen has raised over $800 million through crowdfunding, becoming the most financially successful crowdfunded project to date, despite ongoing criticism and debates about potential scam allegations. |
| January 2025 | Stripe sent layoff notices to nearly 300 workers, primarily in Product, Operations, and Engineering departments. The company faced controversy after sending a cartoon picture of a duck to laid-off employees, with Chief People Officer Rob McIntosh later apologizing for the mistake. |
| 2024 | Stripe ranked third on the CNBC Disruptor 50 list. |
| 2024 | Stripe reached a significant milestone, processing over $1.4 trillion in payment volume and achieving a valuation of approximately $91 billion, becoming the largest privately-owned fintech company. |
| 2024 |
Grey
Grey sealed a partnership with Insured Nomads to offer discounted travel and health insurance for freelancers and remote workers, providing coverage for medical emergencies, travel delays, and other travel-related risks.
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| 2024 |
Grey
Grey partnered with Clear Junction to facilitate cross-border payments in Europe, the UK, and the US for customers receiving payments in multiple currencies.
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| 2024 |
Counterparty
After a development hiatus, core developers returned to address long-standing issues with the Counterparty reference implementation, focusing on improving stability, correctness, and performance, and preparing for future feature development.
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| 2024 |
Pagero
Acquired by Thomson Reuters, a multinational information conglomerate.
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| 2024 |
Cryptocurrency
Dogecoin experiences significant price volatility, dropping from a record high of 73 cents to 13 cents.
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| December 17 2024 |
Cryptocurrency
ESMA published guidelines for identifying crypto-assets that qualify as financial instruments, which are excluded from the MiCA regulation.
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| November 2024 |
Cryptocurrency
The incoming Labour government confirmed plans to regulate cryptoassets, with new UK regulatory requirements expected to be implemented in 2026.
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| October 2024 | A federal judge denied SoLo Funds' motion to dismiss the CFPB ruling, allowing the legal challenge to proceed. |
| September 2024 |
Pagero
Pagero was named a Leader in the IDC MarketScape: European Compliant e-Invoicing, highlighting its prominent position in the European e-invoicing market.
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| August 2024 |
Grey
User base grew to over 1 million users.
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| July 2024 | Rated by CNN Underscored editors as the best peer-to-peer lending app. |
| July 2024 | Pennsylvania Attorney General Michelle Henry announced a settlement with SoLo Funds, requiring the company to pay a penalty and modify its business practices to comply with state law. The settlement was in the form of an assurance of voluntary compliance. |
| July 2024 |
Grey
Grey expanded its cross-border financial services into Latin America (LATAM) and Southeast Asia (SEA), targeting unbanked populations in countries like Brazil, Mexico, Indonesia, and the Philippines. The expansion introduced USD Coin (USDC) payouts via Ethereum and TRON networks.
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| July 2024 | FASL released an interim report on establishing a 'Fintech Innovation Hub' in the Colombo International Financial Centre (CIFC), highlighting potential for attracting multimillion-dollar investments and becoming a strategic hub for South Asian fintech startups. |
| July 26 2024 | Stripe acquires Lemon Squeezy, a Merchant of Record services start-up. |
| July 15 2024 | Sequoia Capital offers its limited partners a chance to sell up to $861 million worth of Stripe shares, with Stripe's 409A valuation at $70 billion. |
| June 30 2024 |
Cryptocurrency
The EU regulation Markets in Crypto-Assets (MiCA) covering asset-referenced tokens (ARTs) and electronic money tokens (EMTs) came into force.
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| May 2024 | The Consumer Financial Protection Bureau (CFPB) filed a lawsuit against SoLo Funds challenging their lending model. |
| May 2024 |
Cryptocurrency
US Congress advanced the Financial Innovation and Technology for the 21st Century Act, defining regulatory responsibilities for digital assets between the CFTC and SEC, with specific provisions for blockchain and stablecoin regulation.
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| April 2024 |
Cryptocurrency
TVNZ's 1News reported the Cook Islands government proposed the Tainted Cryptocurrency Recovery Bill, which would allow 'recovery agents' to investigate cryptocurrency potentially used for illegal activities, including through hacking. The proposed legislation was drafted by two lawyers hired by US-based debt collection company Drumcliffe.
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| March 2024 | FASL organised a lecture on 'Introduction to Artificial Intelligence' at Little Flower Convent in Jaffna, supported by HKU FINTECH and ELEVANDI, aligned with the Ministry of Education's initiative to integrate AI and Machine Learning into Sri Lanka's National School Curriculum. |
| March 28 2024 |
Cryptocurrency
Sam Bankman-Fried was sentenced to 25 years in prison for cryptocurrency-related fraud.
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| February 2024 | Reported almost 2 million app users. |
| February 2024 | Announced a rewards program app in collaboration with Enigmatic Smile, with MS Dhoni as the brand ambassador. |
| 2023 | Stripe ranked 28th on the CNBC Disruptor 50 list. |
| 2023 | Received investment from Serena Williams's Serena Ventures and made CNBC's Disruptor 50 list. |
| 2023 | Collaborated with ICICI Bank, IDFC First Bank, and Pine Labs to provide payment support for foreign travelers at airports during the G20 New Delhi summit by issuing UPI-enabled mobile payment wallets. |
| 2023 | Acquired three protel software distributors: Ideosoft, REBAG DATA, and XN PMS Limited. Also announced acquisition of Horizon Tax-Free from Fexco in Ireland. |
| 2023 | FinMkt was named to Inc's Best Workplaces list, shortlisted for US Fintech Awards Team of The Year, and placed #815 on the Inc. 5000 List. |
| 2023 | Luan Cox was honored as a Female Founders 200 Honoree and named to the Forbes 50 over 50 list. |
| 2023 | Acquired by Yieldstreet, a global alternative investment platform. CEO Ryan Williams continues to lead Cadre as an independent subsidiary. |
| 2023 | Launched Cadre Direct Access Fund II, a value-add fund targeting $500 million to invest in opportunistic assets. |
| 2023 |
Payrexx AG
Payrexx AG achieved a turnover of approximately 600 million Swiss francs and was named the most popular payment service provider among Swiss SMEs in a survey by the Zurich University of Applied Sciences (ZHAW) and the Management Center Innsbruck (MCI).
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| 2023 |
Cryptocurrency
An IMF working paper projected that crypto mining could generate 450 million tons of emissions by 2027, accounting for 0.7 percent of global emissions.
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| December 2023 | Maryland regulators raised allegations against SoLo Funds regarding their lending model and fee structure. |
| November 2023 |
Grey
Reached a milestone of 500,000 users.
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| November 2 2023 |
Cryptocurrency
Sam Bankman-Fried was found guilty on seven counts of fraud related to FTX cryptocurrency exchange.
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| September 2023 | Stripe announced an optimized checkout suite that allows businesses to offer more than 100 payment methods. |
| August 13 2023 |
Cryptocurrency
LiteBit, a cryptocurrency exchange previously headquartered in the Netherlands, was forced to cease all operations due to market changes and regulatory pressure.
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| May 2023 | SoLo Funds settled regulatory cases in California, Connecticut, and Washington DC over allegations of misleading consumers about interest rates and fees related to their tipping and donation model. The company paid penalties and agreed to make disclosures about the voluntary nature of tips and donations. |
| March 2023 | Stripe announced a collaboration with OpenAI to help commercialize its generative AI technology. |
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This contents of the box above is based on material from the Wikipedia articles SoLo Funds, Cryptocurrency, Cadre (company), Planet (company), Payrexx AG, Counterparty (platform), Crowdfunding, Grey (company), Stripe, Inc., WeLab, Fintech Association of Sri Lanka, FinMkt, Pagero & Sarvatra Technologies, which are released under the Creative Commons Attribution-ShareAlike 4.0 International License.