Issue 272 · Jun 18, 2020 Weekly edition · 3 min read

Fintech News

This week in FinTech Weekly: Which fintech sectors will benefit most from Covid-19? In addition, Ride now allows its customers to pay with Bitcoin. Our third top story this week is about Fintech's White Privilege. Enjoy

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20-Year-Old Robinhood Customer Dies By Suicide After Seeing A $730,000 Negative Balance

The note found on his computer by his parents on June 12, 2020, asked a simple question. “How was a 20 year old with no income able to get assigned almost a million dollars worth of leverage?”

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In this issue · 12 items

Is fintech the future of the internet? Roll Call — Fintech Beat sits down with Stefan Thomas, the CEO of Coil, to talk about why the internet is becoming “centralized” — and how upgrading the internet’s payment structure could revolutionize how it operates. Open story ↗ Time To Talk (Again) About Fintech’s White Privilege Forbes — Fintech has a diversity problem. The killing of George Floyd and so many other Black people, and the systemic racism their deaths have laid bare, requires that the industry own up to the lack of Black representation in fintech and do something about it. Open story ↗ These are the top fintech companies and startups in 2020 Business Insider — The fintech industry is growing every year, and the market is starting to fill up with financial services providers and fintech startups trying to fulfill customers' needs and shape the future of finance. Open story ↗ Singapore Ride-Sharing App Lets Customers Pay With Bitcoin Coindesk — Starting next week, its users will be able to store and convert bitcoin to the company’s RydeCoin with zero transaction costs, the company announced Wednesday. Open story ↗ Which Fintech Sectors Will Gain From COVID-19? Fintech News Switzlerland — Like other sectors, fintech funding has been hit hard by the COVID-19 pandemic and the resulting economic turmoil, with investment down during the first months of 2020. Open story ↗ Revolut launches account aggregation feature in Ireland Finextra — Revolut has launched its Open Banking feature in Ireland, providing customers with aggregated account data from AIB, Permanent TSB, Ulster Bank, and Bank of Ireland. Open story ↗ SEC Launches Virtual Meetups for Fintech Industry Players Cointelegraph — The SEC's fintech wing invites innovators to network and weigh in on regulation in new online meetups. Open story ↗ Number of Bitcoin ‘Whales’ Has Risen by 2% Since Halving Coindesk — Bitcoin’s price rally has stalled since the cryptocurrency underwent its third halving on May 11, but investor confidence in the cryptocurrency’s long-term prospects remains strong, data shows. Open story ↗ UK's top court rules against Visa and Mastercard in interchange fee battle Finextra — The UK's Supreme Court has come down in favour of the UK's biggest supermarket chains in a long-runnning legal battle over the level of interchange fees charged by Visa and Mastercard Open story ↗ 10 of the most promising European blockchain startups to watch EU-Startups — Providing a legal identity for all of the world’s population by 2030 is one of the United Nation’s Sustainable Development Goals – and may be more relevant than ever with talks of new coronavirus immunity ID documents underway. Open story ↗ Are London’s fintechs really a good place to work? Here are the results Sifted — A joint report with Glassdoor shows the best London fintechs to work at, according to their employees. Open story ↗ Worldpay rolls out Open Banking Hub for account-to-account payments Finextra — Worldpay is rolling out a new Open Banking Hub to merchants, enabling users to pay for purchases direct from their bank account, circumventing the need to enter card or account information into a third party site. Open story ↗

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20-Year-Old Robinhood Customer Dies By Suicide After Seeing A $730,000 Negative Balance

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