Fintech Focus For June 16, 2021

Quote To Start The Day: "[By] Labor Day, I'll be very disappointed if people haven't found their way into the office and then we'll have a different kind of conversation.”

Source: James Gorman

One Big Thing In Fintech: The most fundamental problem in financial services is that people don’t know how to use money to make themselves happy. This problem unites consumers demographically and socioeconomically in a way that almost nothing else does.

Financial services providers have everything they need to solve this problem.

The question is who will build it?

Source: Fintech Takes

Other Key Fintech Developments:

• B9 taps $1.7M for fintech platform.
• Feature on Market Moves platform.
• Significant BTC code improvement.
• Liti has tokenized litigation finance.
• dYdX added a new $65M Series C.
• Exchanges look to accelerate cloud.
• Wise gears up to launch its listing.
• Fintech Clip raises a $250M round.
• NYDIG, FS file for MS bitcoin fund.
• CreditNinja parent buys Utah bank.
• BlackRock added Aladdin features.
• OVTLYR helping investors prepare.
• Sequoia is investing in Pennylane.
• Bakkt has improved asset transfers.
• Umee raises to be cross-chain hub.
• EBANX closes $430M investment.
• BoE applying ‘tough love’ to fintech.
• Bloomba to streamline underwriting.
• I2c grows Visa fintech membership.
• White Clay receives fintech award.
• Bitwise completes a $70M Series B.
• Persistence has launched pSTAKE.
• Thumbtack closes a $275M round.
• Alloy added to platform capabilities.

Watch Out For This: Apple has announced a forthcoming update to its Wallet app that will allow you to use your iPhone as digital identification in select US airports. The company showed how you’ll be able to scan your driver’s license or state ID in participating US states, which will then be encrypted and stored in the iPhone’s secure enclave. The company says it’s working with the TSA to enable the iPhone to be used as identification at airport security checkpoints.

Source: Verge

Interesting Reads:

• Wix expands in-house capabilities.
• Analysis: Bubbles making history.
• TikTok stars venture into marketing.
• House is investigating insurrection.
• Amazon’s relentless worker churn.
• White House eyes domestic terror.
• EU and US agreed on plane trade.
• Research firm takes aim at betting.
• Rising stars in light of cheap debt.
• Pandemic is destroying retirement.

Market Moving Headline: [T]he FOMC will likely not change its forward guidance on interest rates or asset purchases. That’s according to Moody’s which noted: “The statement will likely strengthen the FOMC’s assessment of the acceleration in inflation and possibly mention the central bank has the tools to address inflation if needed. This would be an effort to keep long-term inflation expectations in check.”

Source: Physik Invest