Issue #375 - The Going Gets Tough2022-08-04It’s not news that the fintech space is the protagonist of contradictory stories. While regulators hit companies like the Chinese Ant and Kenyan Flutterwave and Chipper Cash, other fintech firms manage to succeed in sectors like InsurTech and the NFT market. In the meanwhile, the city of Miami launches a new initiative that will mix NFT, Metaverse, Finance and art, and Bloomberg collects the (tragically) funny stories of celebrity crypto endorsements just before the market crash. This and much more in this number of FinTech Weekly, which also wants to share with you the legacy of visionary business people like Dee Hock, to remember that – despite contradictions – fintech is based on solid foundations. |
Top Stories
Top Events
Crypto
 | U.S. crypto firm Nomad hit by $190 million theftThe US-based crypto company Nomad is now among the businesses hit by a crypto theft. The company, which is backed by investors like Coinbase Global, was the victim of a $190 million dollar attack that involved Nomad’s crypto bridge. |
 | The Disastrous Record of Celebrity Crypto EndorsementsBloomberg lists all the disastrous celebrity crypto endorsements: from Matt Damon to Tom Brady and Mike Tyson, all these celebrities endorsed cryptos and NFTs just before the market crash. |
Banking
 | Visa's founder, and his influence on today's fintechDee Hock passed away in July 2022, and this article helps understand how his work and beliefs were able to set the ground for modern fintech. The founder of Visa was able to create an environment more decentralized and inclusive than traditional banking, and its success story could help fintech businesses to understand why this approach is fundamental in today’s world. |
 | Kenya’s banks ordered to stop dealing with 2 fintech firmsRegulators hit two Kenyan fintechs, Flutterwave and Chipper Cash, for not having the necessary licenses to operate in the financial sector. The Central Bank of Kenya has informed the customers of the two companies to stop dealing with the two fintechs. |
Innovation
 | KuCoin Launches Landmark NFT ETF, Tracking Major CollectionsThe popular crypto exchange KuCoin has just launched a platform that will make non-fungible tokens (NFT) fungible: in partnership with Fracton Protocol, the company was able to create an NFT ETF platform. |
Podcasts and Videos
 | The Latam Insurtech Accelerator: Taking Latin American Insurtech to the next level, Ep 6In this episode of Hacking Insurance, the host of the podcast – Rodrigo Alfonso – is joined by Hilario Itriago (Boxx Insurance USA) and Pablo Tiscornia (The Latam Insurtech Accelerator), to discuss the developments of the InsurTech sector in the Latam region. |
Fintech
 | Kenyan insurtech Lami raises $3.7M seed extension led by Harlem CapitalLami Technologies, the Kenyan insurtech, has raised $3.7 million investments for its insurance products. Thanks to its digital insurance platform and API technology, the company is able to create tailored solutions for each customer. |
 | How NFTs Create Unique Consumer Experiences — And Expand Marketing’s ReachWhile several businesses enter the NFT market and the Metaverse, it’s useful for business owners to understand how these innovative sectors can help their businesses to focus on customers and improve their marketing strategies. |
 | Miami Collabs With TIME, Mastercard, Salesforce to Sell 5K NFTsMiami has just announced a program that integrates the city with the Web 3.0 experience. 56 local artists will create an NFT collection of 5000 pieces: in partnership with TIME, Mastercard and Salesforce, the program will allow NFT owners to participate in exclusive events and experiences hosted in the city. |