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Quote To Start The Day: “Amazon is the most formidable. If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”

Source: Alex Rampell

One Big Thing In Fintech: While headlines from the blockchain industry have recently been dominated by Bitcoin, the biggest story in the space has still largely been overlooked (or missed) by most news outlets: the rise of DeFi, or Decentralized Finance.

Over the last year, a “decentralized Wall Street” has emerged, with users locking up over $50 billion worth of assets into applications that are replicating traditional financial products on decentralized blockchain infrastructure.

Source: Nasdaq

Other Key Fintech Developments:

  • Liti Capital announces token launch.

  • Deutsche, Fiserv have partnered up.

  • The battle rising in European fintech.

  • Toss secured $406M at $7.4B value.

  • Rewards program for rent payments.

  • TrueLayer launches verification API.

  • MAJORITY raises $19M seed round.

  • Fifth Third acquires fintech Provide.

  • TT adds Cboe trading functionalities.

  • Fundbox added to board of directors.

  • Tabby taps $50M financing to grow.

  • Myos raises $30M Series A funding.

  • Moneycorp unveils enhanced APIs.

  • Blockchain Capital added new funds.

  • Zeller lands $50M AUD led by Spark.

  • Tradefeedr adds FX trading database.

  • Mollie secured $800M for payments.

  • Bueno Finance secured $3M funding.

  • Magma added Obsidian quant fund.

  • Egypt laws will spark fintech growth.

  • Nonbank lenders tackled mortgages.

  • Banks, credit unions lend to pot firms.

  • CommerceIQ closes $60M Series C.

  • State Street, Canoe have partnered.

  • JPMorgan outlines visions for future.

  • Unpacking Amazon’s fintech visions.

  • Discover moves into crypto with hire.

  • Third Point leads CipherTrace round.

  • NCR is reinventing ATM technology.

  • Rivalry secured $22M funding round.

  • Sporttrade secured $36M for betting.

Watch Out For This: With consumption habits of younger and older Americans moving in opposite directions, advertisers and media companies will likely need a clear understanding of their target audiences in order to be successful.

Story continues

Source: Visual Capitalist

Interesting Reads:

  • Delta variant gaining across the US.

  • Canadians looking to regulate media.

  • Oil could reach $100/barrel next year.

  • Is inflation or deflation the bigger risk?

  • Automation increase unemployment?

  • Morgan Stanley requires vaccination.

  • Which VC-backed SPACs will come?

Market Moving Headline: Federal Reserve Chair Jerome Powell said the price increases seen in the economy recently are bigger than expected but reiterated that they will likely wane.

Source: Bloomberg

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