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For several FinTechs, in the move to broaden scale and scope to a nationwide level, all roads lead to the Fed.
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As has been reported in recent days, FinTechs including Wise, Ripple and Circle have applied to the Office of the Comptroller of the Currency (OCC) for national trust bank charters.
In doing so, should the applications be approved, the charters would allow...
When bitcoin first appeared in 2009, it was heralded as a decentralized, peer-to-peer alternative to traditional finance.
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However, in the industry’s early days, before most businesses had even heard the term “cryptocurrency,” the first scams were already unfolding.
Fast forward to today, and crypto-related fraud has evolved into a multibillion-dollar global phenomenon....
Apple has appealed what it calls an “unlawful” $580 million fine from the European Union.
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“We believe the European Commission’s decision — and their unprecedented fine — go far beyond what the law requires,” the tech giant said in a statement on Monday, per a report by Bloomberg News.
“As our appeal will show, the EC is mandating how we run our store and forcing...
Mastercard has teamed with self-service payment portal Pay4You on a spend management solution for European companies.
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The collaboration, announced Monday (July 7), employs Mastercard’s Virtual Card Network (VCN) technology, and is designed to guarantee card acceptance, giving corporations a better way to manage their tail spend.
“Tail spend refers to the portion of a...
A group of Belgian banks have signed onto Europe’s digital wallet project Wero.
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Argenta, Bank Van Breda, Beobank, Crelan, and vdk bank are all planning to begin offering the digital wallet and instant account-to-account (A2A) payment solution starting next year, the European Payments Initiative (EPI) announced Sunday (July 6).
“Wero is about Europe, and it starts with...
Looking for a travel-related business that’s actually booming during the year of COVID-19? It’s out on the water, in rented boats of every shape and size from kayaks to luxury yachts.
“We had our drop-off in April, and then come May we saw a very quick rebound, Bryan Petro, chief operating officer of boat rental and charter marketplace GetMyBoat, told PYMNTS. “From April [to August], we are...
In China, crypto over-the-counter (OTC) traders are being arrested in an attempt to crack down on illegal transactions, according to a report from CoinDesk.
Prominent OTC trader Zhao Dong, of crypto lending platform RenrenBit, was held up by police in the city of Hangzhou, the report says. Zhao has a prominent status among the community, and rumors online began to circulate. One poster relayed...
Two innovators approached a well-heeled investor asking for money. Their sales pitch was very convincing. They told this investor that their innovation was so incredibly cutting-edge that only the hopelessly uninformed would fail to recognize its value. The innovators said that they had picked him because he was smart and forward-thinking enough to see the potential. The investor, who prided...