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Fintech Funding: Cross River raises $620M for embedded technology growth

BankInovation

The funding will go toward developing the bank’s core technology strategy — which centers on embedded finance and cryptocurrency solutions — as well as human capital investments, expansion efforts and strategic partnerships, according to a release. Cross River Bank raised $620 million in a series D round, it announced Wednesday.

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Fintech Deals to Watch: Growing in the Digital World

Gonzobanker

Hot embers continue to glow in the fintech market that GonzoBanker mothership Cornerstone Advisors serves. According to CB Insights, US fintechs raised $14.6B Some perspective on how fast this fintech market is moving: Fintech Labs tracks 269 $1B+ valued fintech unicorns that have been founded in just the past two decades.

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FHFA announces Office of Financial Technology

CFPB Monitor

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space. In the introduction to the RFI, the FHFA noted President Biden’s March 2022 executive order.

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Cryptocurrency Auditions For Role In Hollywood’s Financial Supply Chain

PYMNTS

The allure of blockchain was its potential to be a catch-all solution, but as innovators take a more practical approach to introducing the technology to the real world, its true opportunity may lie in addressing highly specialized, unique points of friction. trillion by 2025. trillion by 2025.

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Top U.S. Banks Are Investing Most in Personal Finance Fintechs

Bank Innovation

For all buzz around cryptocurrency and blockchain technology, surprisingly, the top U.S. banks when it comes to fintech investment is personal finance, according to a report by CB Insights. […]. banks have not been investing as much in these areas as much as one might have thought.

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London FinTech Revolut Looking To Buy Rivals Hit By COVID-19

PYMNTS

London-based FinTech Revolut is planning to tap the $500 million it got from investors to acquire competing technology firms suffering from the impact of the global coronavirus pandemic. Since its founding days, the FinTech has expanded its offerings to include cryptocurrency trading, business banking and more.

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Bitcoin Daily: FinTech Outpaces Blockchain In 2018 VC Funds; Chainalysis Raises $30M For Expansion

PYMNTS

South Korean cryptocurrency exchange Bithumb announced the launch of its own fiat-to-crypto exchange in the United Arab Emirates (UAE) with UAE-based firm Nvelop. In other news, Chainalysis , a crypto transaction analysis startup, announced that it has raised $30 million in Series B funding, led by venture capital (VC) firm Accel.