Fintech Focus For March 16, 2021

Quote To Start The Day: “When someone tells me something can’t be done, I think there’s always a will and a way.”

Source: Randall Kaplan

One Big Thing In Fintech: One driving force behind innovation is disruption.

That’s according to Allison Beer, the Chief Product Officer and Head of Customer Experience and Digital for JPMorgan Chase & Co’s digital banking and innovation arm.

In a conversation with Benzinga, Beer spoke about emerging fintech trends, and how Chase is positioning itself as a holistic destination for digital spending, saving, investing, and borrowing.

Source: Benzinga

Other Key Fintech Developments:

• Umbrella Network eyes testnet launch.
• Zeller raises $25M in an AUD Series A.
• NEM launches Symbol blockchain tech.
• Fintechs, banks team on green finance.
• Tencent loses $62B in a stock fire sale.
• BoA to compete with emerging fintechs.
• M1 launches Community Pies features.
• Robinhood doubles recruiting capability.
• Maduro mulls fintech, a ‘digital bolivar’.
• DBS finished trade on Ant’s blockchain.
• Genesis raises $45M to expand fintech.
• Blend in agreement to acquire Title365.
• GlobeBox secured $3M in new funding.
• Honeycomb Credit raises $1.75M seed.
• CryptoUK trade body raising concerns.
• Koho closed on a $70M funding round.
• Afterpay, Clearpay entered new market.
• upSWOT announces $4.3M seed raise.
• RubiX adds Blockchain Green Initiative.

Watch Out For This: Germany, France, Italy, and Spain have suspended the use of AstraZeneca’s COVID-19 vaccine after several reports of blood clots in people who received the shot in Europe.

Source: Al Jazeera

Interesting Reads:

• France is auctioning off $34M in bitcoin.
• Volkswagen looks to EV, takes on Tesla.
• JUMP Investors CEO on life, business.
• Virtu CEO tweets number to talk PFOF.
• Blackstone targeting growth strategies.
• Biden eyes prosperity over vengeance.
• Two Sigma looking to test hybrid work.
• EU launched a legal action against UK.
• Biden’s tax hike to hurt 400K+ earners.
• Flutter considers spinning out FanDuel.
• Subway ridership hits post-COVID peak.

Market Moving Headline: We see the path out of the Covid-19 shock as a “restart” – not a typical business cycle “recovery.” The key reasons are the distinct nature of the shock, broad-based pent-up demand and different inflation dynamics. The passage of a $1.9 trillion fiscal package and an accelerating vaccination ramp-up in the U.S. magnify these factors, and we believe the restart will likely be stronger than markets expect.

Source: BlackRock