Issue 276 · Jul 23, 2020 Weekly edition · 3 min read

Fintech News

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The Office of the Comptroller of the Currency (OCC) is letting all nationally chartered banks in the U.S. provide custody services for cryptocurrencies.

In a public letter dated July 22, Senior Deputy Comptroller and Senior Counsel Jonathan Gould wrote that any national bank can hold onto the unique cryptographic keys for a cryptocurrency wallet, clearing the way for national banks to hold digital assets for their clients.

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In this issue · 11 items

Self-Driving Money Is Coming To Consumer Fintech Forbes — Fintech today is dominated by consumer tech platforms looking to reinvent financial services. Even in-spite of the reported slowdown in fintech financing activity, founders in the space still raised $8.3 billion in Q2 2020. Open story ↗ Scalable Capital raises $58M at a $460M valuation for its robo-investment platform Tech Crunch — Startups building tech-based platforms to help make investments continue to be in high demand, building on an expanding market of investors getting more confident to rely on technology to undercut broker fees and speed up the process. Open story ↗ Hey bank, get onto my cloud! Chris Skinner's Blog — I’ve seen a few big deals signed this month to get banks onto the cloud, such as National Australia Bank (NAB) switching to Microsoft’s Azure, and Deutsche Bank moving to the Google Cloud. Open story ↗ Is Lemonade IPO the model for insurtech? Probably not Digital Insurance — Investment in insurtech is big business. Just this month, investors warmly welcomed Lemonade's IPO, boosting the company’s opening day stock price by 139%, resulting in a $3.8 billion valuation – all for a company yet to post a profit. Open story ↗ Is Open Finance worth getting excited about, or is it just spin? Sifted — It's been a slow journey to get UK customers meaningful control of their bank data. Is the next phase of "open finance" the answer? Open story ↗ Mastercard Accelerates Crypto Card Partner Program The Fintech Times — Consumer adoption of digital currencies is growing, with research showing that up to 20 percent of the population of some countries are holding cryptocurrencies, as an increasing number of merchants, digital players and financial institutions are exploring crypto payments. Open story ↗ The old and the new of fintech VOX EU — Technological change in the financial industry is accelerating. Incumbents face disruption from innovative start-ups and large technology firms (Philippon 2020). Open story ↗ Is Crypto Fintech? It Depends Who You Ask Coindesk — Leah Callon-Butler, a CoinDesk columnist, is the director of Emfarsis, a consulting firm focused on the role of technology in advancing economic development in Asia. Open story ↗ Review launched to boost UK Fintech sector gov uk — A review into the UK’s financial technology industry has been launched today to identify opportunities to support further growth in the sector, The Economic Secretary to the Treasury, John Glen, has announced. Open story ↗ Fintech shaping the future of financial landscape Businessmirror — When a pandemic forces everyone to stay at home, individuals tend to get creative with how they spend their time and money. Open story ↗ Singapore Fintech Association Builds Job Board for Post-COVID Fintech Growth Finance Mangnates — The portal reportedly has listings over 500 job vacancies that are spread across six categories. Open story ↗

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The Office of the Comptroller of the Currency (OCC) is letting all nationally chartered banks in the U.S. provide custody services for cryptocurrencies.

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