Fintech Focus For February 24, 2021

Quote To Start The Day: The journey of a thousand miles begins with one step.

Source: Lao Tzu
One Big Thing In Fintech: Doug Cifu chief executive of Virtu Financial, the market maker, broker and technology provider, defended payment for order flow as retail investors receive price improvement and the business model has allowed markets to become more democratized.

Source: Markets Media

Other Key Fintech Developments:

• Overbond automating 50% of RFQs.
• Skrill debuting fiat-to-crypto services.
• Digital transformation driving fintech.
• Lightspeed partners up with dLocal.
• Unpacked: Crypto art stands to rise.
• Bottlepay raises $15M in new round.
• BlackRock launching Aladdin Cloud.
• Bitfinex, Tether settling with NY AG.
• Luma looking to solution expansion.
• PanXchange raises to defend itself.
• Kraken on defense post-ETH plunge.
• Lloyds taps into Mastercard system.
• Tradeweb sales head joins Glimpse.

Watch Out For This: Over half of financial services firms worldwide plan to increase their spending over the next two years on next-generation technologies such as AI, blockchain, the Cloud and digital, according to a new study surveying 1,000 global C-suite executives and their direct reports, released today by Broadridge Financial Solutions, a global Fintech leader.

Source: Markets Media

Interesting Reads:

• Wells will sell off asset management.
• Miami-based investors share views.
• House advances $1.9T COVID relief.
• Post-pandemic hospitals will change.
• Space investment poised for growth.

Market Moving Headline: In our view, the economic recovery and rebound in inflation will drive a rotation into value and small-cap stocks. While this should allow value to recover some of its underperformance of recent years, we nonetheless expect quality/growth to retain its dominance.

Source: BNP Paribas