Fintech Focus For August 11, 2020

Daily Perspective: The definition of market prices is whatever the Fed says it will be. - Minerd

Fintech Movers: The Federal Reserve recently announced the FedNow Service, which it said will be rolled out in a phased approach, with a target service date of 2023 or 2024. - Benzinga

• Coinbase hires Lyft, Google alum to lead build.
• FXCM partners with Devexperts over liquidity.
• Facebook goes all-in on fintech with subsidiary.
• JD, Alibaba will empower China’s SME recovery.
• Tauros, Visa join over debit card, crypto rewards.
• InvestHK runs Global Fintech Fast Track program.
• Binance intros perpetual futures priced in BTC.
• Dubai Commodities Exchange signs tech deal.
• IBKR said it would continue making acquisitions.
• VibePay intros open banking, business functions.
• Mexico eyes license revision process for fintech.
• Rideshare insurtech startup Buckle raises $31M.

Benzinga Global Fintech Awards Spotlight: 

Every year Benzinga, a leading news and data platform, holds the Global Fintech Awards, a day of dealmaking, networking, and recognition in the financial technology space.

Ahead of the November 10, 2020 event, this newsletter will highlight one disruptive innovator working to create positive and diverse change in the financial services space.

Today's disruptive innovator is Wealthfront, an automated investment service.

For a chance to make your mark on the future of innovation and be featured in this newsletter, check out our Global Fintech Awards!

Watch Out For This: President Trump tweeted Monday that he'll deliver his speech accepting the Republican nomination for president at either the Gettysburg battlefield in Pennsylvania or at the White House. - Axios

• TikTok announces first data center in Europe.
• US equities market structure debate continues.
• The process behind changing someone’s mind.
• Shooter placed the White House on lockdown. 
• Trump to block citizen reentry if COVID infected.
• The difference between being rich and wealthy.
• The blue shift may end up deciding the election.
• What MasterClass is actually delivering to you.
• Forest fires are setting Chernobyl’s radiation free.
• California to pay COVID positive people $1,250.
• Robinhood to restrict access to public data API.

Market Moving Headline: Trump's executive actions postpone payroll taxes through the end of the year, provide $400 in “bonus” unemployment insurance, help people “stay in their homes” and waive student debt payments through the end of 2020. - Axios

• South Korea, Japan surge ahead in 5G speed.
• Cord cutting seems disastrous for TV advertising.
• Fed announces post-stress test capital ratios.
• McDonald’s sues ousted CEO due to cover up.
• Gilead seeks US approval for COVID treatment.
• Marriott cash burn slows as bookings recover.
• Airline shares rise as U.S. TSA screening rises.
• Kodak loan won’t proceed if allegations remain.
• Amazon to take over JCPenny, Sears stores.
• Smartphone chips run out under US sanctions.
• Chegg CFO on education, skill-based learning.
• BoA CEO remains optimistic about the economy.