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GPS Capital Markets For Sale, Sources Say

PYMNTS

Corporate foreign exchange brokerage GPS Capital Markets is reportedly up for sale, unnamed sources told PE Hub. GPS Capital Markets, founded by Al Manbeian and Ryan Gibbon, posts between $20 million and $30 million earnings before interest, taxes, depreciation and amortization (EBITDA), one source told the publication.

Capital 108
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Why Mexico’s SMBs Need A FinTech Operating System And Not Another Bank

PYMNTS

Emerging markets have their own challenges when it comes to banking, where big, traditional financial institutions (FIs) are anything but efficient. The world needs a FinTech operating system.”. And governments have an incentive to foster growth in debit payments because they want to collect tax revenue on cash transactions.

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Financing Gets Flexible As eCommerce Sellers Brace For Seasonality Whiplash

PYMNTS

Despite a surge in sales, small businesses selling online can struggle to manage working capital, particularly as many rely on third-party marketplaces like Amazon that don't facilitate instant access to revenues. Digital commerce is a capital-intensive business model, he said, and keeping pace with buyer demand puts a strain on finances.

Capital 356
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Bitcoin Daily: Korean Commission Suggests Allowing FIs To Offer Crypto; China’s OneConnect Platform Supports New Blockchain Financing Product

PYMNTS

In other crypto news , cryptocurrency tax automation software TaxBit has raised $5 million in funding. Investors in the venture include TTV Capital, Dragonfly Capital Partners, Collaborative Fund, Winklevoss Capital, Valar Ventures, Global Founders Capital, Table Management, Album VC and more. . ”

Bitcoin 132
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SPACs Now Eyeing Asia For Merger Deals

PYMNTS

Special purpose acquisition companies, or SPACs , are now eyeing the Asian market for merger deals as they compete to finalize deals before their initial public offerings (IPOs) expire. market for taking private companies public. Funds that have expertise in both companies operating in Asia and how U.S.

Capital 198
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Bankers: Can You Create a Culture of Operating Discipline Even if You Have No or Few Shareholders?

Jeff For Banks

Source: S&P Capital IQ for Banks-Savings Banks and Credit Unions between $1B-$10B in total assets. Even though they pay no federal corporate income taxes? Retained earnings is their least expensive form of capital. In some cases, their only form of capital. I posed this question while speaking at a recent conference.

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Ontario Systems Buys SwervePay To Boost Electronic Payments

PYMNTS

The purchase comes as Ontario Systems has recently shifted to being backed by private equity money, as it was acquired last year by New Mountain Capital, according to a Government Technology report. SwervePay, meanwhile, offers text payments and automated balance messages on top of its main services for electronic payments.

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