Financial Platform News

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

Platform Industry: Bitcoin and digital currencies

News short: Square to create new bitcoin-focused business unit

FinTech company Square Inc is creating a new business focused on bitcoin, Chief Executive Officer Jack Dorsey said in a tweet on Thursday.

Platform industry news: Oracle Corp

Oracle unit partners with Everest to bring blockchain to banks worldwide

Oracle Financial Services Software, a unit of Oracle Corp, has teamed up with financial technology provider Everest to bring blockchain to banks worldwide to enhance their product ...

Crypto Coins

Powell says a Fed digital currency could undercut need for cryptocurrencies

Federal Reserve Chair Jerome Powell on Wednesday said one of the stronger arguments for the U.S. central bank to set up a digital currency is that it could undercut the need for pr...

PayPal

PayPal Australia takes on Afterpay with no-late fee ‘buy now, pay later’ offer

PayPal’s new “buy now, pay later” offering in Australia will not charge late payment fees, the US payments giant has said, as it attempts to edge past main indust...

Platform News: Squarespace

Dorsey’s Square plans to make hardware wallet for bitcoin

Square Inc will make a hardware wallet for bitcoin, the payments company confirmed in a tweet yesterday, shortly before US Senator Elizabeth Warren flagged growing risks posed to c...

Wise IPO

A Wise move? London listing may open FinTech floodgates

Wise’s record breaking direct listing has come as a relief to other tech firms aiming to go public in the coming months, the bankers managing those deals and to post-Brexit L...

Platform Economy: Stripe US FinTech powers e-commerce

Online payments firm Stripe takes first step toward blockbuster listing

Digital payments processor Stripe Inc, the most valuable US platform start-up, has taken its first major step toward a stock market debut by hiring a law firm to help with preparat...

Platform News: Ant Group and Alipay

China says measures applied to Ant Group to be imposed on other payment firms

China’s central bank has said that anti-monopoly measures applied to e-commerce giant Alibaba’s financial technology affiliate Ant Group will also be imposed on other p...

Robinhood Markets

Robinhood IPO faces threat of retail snub on Reddit

Robinhood Markets, which helped enable the “meme stock” frenzy earlier this year and later attracted flak for its handling of the trading mania, is facing pushback on s...

Wise IPO

Wise valued at $11 billion in record London direct listing

Shares of financial technology company Wise ended 10% up on their first day of trading in London’s largest ever tech listing that could pave the way for other firms looking t...

Platform News: China's Didi

What is driving China’s clampdown on Didi and data security?

China’s cyberspace regulator has launched a probe into ride-hailing giant Didi Global, calling for it to stop adding new users and for app stores to remove it, days after it ...

Visa Payment

Visa says spending on crypto-linked cards topped $1 billion in first half this year

Visa Inc has said its customers spent more than $1 billion on its crypto-linked cards in the first half of this year, as the payments processor takes steps to make crypto transacti...

Platform News: Mortgage start-up Blend

Mortgage-focused start-up Blend seeks $4 billion valuation in IPO

Blend Labs Inc, a digital banking platform focused on mortgage lending, is targeting a valuation of nearly $4 billion in its IPO in the US, seeking to cash in on the boom in demand...

Platform News: Binance

Binance temporarily suspends payments from EU’s SEPA network

Cryptocurrency exchange Binance will temporarily suspend euro bank deposits from one of Europe’s key payments networks, it said in an email sent to users.