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Aave Labs has acquired Stable Finance, a San Francisco-based fintech company. This acquisition will help Aave Labs develop more consumer-focused products for decentralized finance (DeFi). As part of the deal, Stable Finance founder Mario Baxter Cabrera will now become Aave Labs’ Director of Product. The... Read More
Tether Data’s AI research division, QVAC, released what it claims is the largest synthetic dataset created for artificial intelligence training under a new initiative called QVAC Genesis. This initial release, Genesis I, a collection of 41 billion text tokens, is meant to help the world... Read More
An Egyptian–Saudi partnership has launched a platform in Cairo to back property technology startups, aiming to speed digital adoption across Egypt’s real estate sector as the market undergoes major structural shifts, the companies said. Coldwell Banker Commercial Advantage and Modern Solutions, a subsidiary of Prime... Read More
JPMorgan Chase & Co. (NYSE:JPM) recently noted that it will be allowing institutional customers to use their Bitcoin (BTC) and Ethereum (ETH) as a form of collateral for loans, marking a significant shift in how Wall Street’s largest banking institutions leverages digital assets as part of... Read More
Clerq, a payments platform for high-ticket transactions, has secured $21 million in capital to power the future of payments. The funding includes a $12 million Series A round led by 645 Ventures, with participation from existing investors FirstMark Capital, Fika Ventures, Commerce Ventures, and Dash Fund. The Series A also included new strategic participation... Read More
Generative artificial intelligence is now said to be reshaping the financial sector, emerging as a sophisticated tool in transforming how credit risk is being assessed. This, according to a report from OliverWyman which also noted that by moving further beyond traditional linear models, generative AI... Read More
Nigeria’s central bank convened a strategic fintech roundtable on the sidelines of the IMF–World Bank Annual Meetings in Washington this week, reaffirming a collaborative, innovation-driven approach to developing the country’s financial system while pledging to preserve stability and confidence. The Central Bank of Nigeria (CBN)... Read More
The next 5 years could potentially transform corporate and investment banking (CIB) as non-bank financial institutions (NBFIs) continue to expand their operations across trading, advisory, as well as lending. A report by Boston Consulting Group (BCG) indicates that NBFIs will account for “20% of global... Read More
Thai authorities raided a Worldcoin-linked iris-scanning site and arrested suspects on allegations they operated unlicensed exchange services for the project’s WLD token, the Securities and Exchange Commission (SEC) said after a joint operation with the Cyber Crime Investigation Bureau (CCIB). The move is part of... Read More
Ripple has announced its plans earlier this year to acquire Hidden Road, one of the non-bank prime brokers, providing institutions a “one-stop-shop” for services such as clearing, prime brokerage, and financing across foreign exchange, digital assets, derivatives, swaps, and fixed income. Ripple noted in a... Read More