Financial Platform News

News and analysis coverage of financial platforms, ranging from payment processing and credit through to retail banking and investment services.

Robinhood Markets

‘Meme du jour’ Robinhood stock soars over 20%, passes IPO price

Robinhood Markets Inc’s shares surged over 20% yesterday, adding more than $7 billion to the value of the online brokerage and elevating its stock above the price set in last...

Platform Economy: SEC

US SEC Chair Gensler calls on Congress to help rein in crypto ‘Wild West’

The chair of the US Securities and Exchange Commission has called on Congress to give the agency more authority to better police cryptocurrency trading, lending and platforms, a &#...

Afterpay

The $29 billion deal in 11 weeks: how Square bought Afterpay

Jack Dorsey introduced the world to expressing itself in just 140 characters as the creator of Twitter Inc, and his payments company, Square Inc, also likes getting straight to the...

Jack Dorsey

Jack Dorsey leads $29 billion buyout of lending pioneer Afterpay

Square Inc, the payments firm of Twitter co-founder Jack Dorsey, will purchase buy now, pay later (BNPL) pioneer Afterpay Ltd for $29 billion, creating a global transactions giant ...

Platform Industry News: TikTok smartphone app video streaming

Beyond the meme: finance gets serious on going viral

Ian Rogers used to be in charge of digital strategy for luxury fashion group LVMH. Now he has a new mission: to sprinkle some aspirational glitz on to French cryptocurrency company...

Platform News: FinTech trading app Robinhood

Robinhood, gateway to ‘meme’ stocks, raises $2.1 billion in IPO

Robinhood Markets Inc, the owner of the trading app which emerged as the go-to destination for retail investors speculating on this year’s “meme’ stock trading fr...

Platform News: PayPal

Gloomy outlook dulls PayPal’s quarterly profit beat

Shares of PayPal Holdings fell 8% on the payment company’s downbeat current-quarter profit outlook that outweighed a better-than-expected profit in the second quarter from a ...

Platform News: China

International investor concerns mount over China’s tech rout

International investors were feeling bruised and uncertain on Tuesday as a third day of heavy selling hammered China’s top tech stocks and began to seep into currency and deb...

Platform News: Binance

Binance founder willing to go, as pressure mounts

Binance founder Changpeng Zhao said he was willing to step down whenever he finds a successor who can do a “better job”, as one of the world’s biggest cryptocurre...

FinTech player, PayPal

PayPal to research transactions that fund hate groups, extremists

PayPal Holdings Inc is partnering with non-profit organisation the Anti-Defamation League (ADL) to investigate how extremist and hate movements in the US take advantage of financia...

Crypto Coins

Bitcoin leaps 12% to test recent peaks, ether hits 3-week high

Cryptocurrencies popped to the top of recent ranges yesterday, as short sellers bailed out in the wake of a strong week and while traders hoped a handful of positive comments from ...

Santander Bank

Santander’s payments fintech PagoNxt to expand in 30 countries

Santander, the euro zone’s second-largest bank by market value, has said its payment FinTechunit, PagoNxt, would start to serve customers in 30 countries in Europe under the ...

Indian FinTech Paytm

Paytm eyes an IPO by end of October, hopes to break even in 18 months

Indian digital payments firm Paytm expects to launch its IPO at around the end of October, pending regulatory approvals, a source familiar with the matter have said.

Robinhood Markets

Robinhood CEO says he is considering offering US retirement accounts

Robinhood Markets Inc is considering launching US retirement accounts, CEO and co-founder Vlad Tenev said in a webcast with users of its trading app looking to participate in its i...