Catch Up the Order of the Day in Dashdevs Digest: 05.24 - 05.28

Catch Up the Order of the Day in Dashdevs Digest: 05.24 - 05.28
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The fintech sphere is always characterized by incredible breakthroughs and painful downfalls. That’s what our digest is about! We invite you to a safe trip around the startups’ progress, banking innovations, and some risky ventures to look at and learn from. Can’t wait to read the latest news? Let’s do it!

End of May Banking & Investment Breakout

The Goldman Sachs Group Considers Ethereum Outrunning Bitcoin

The American investment and fin services provider manifests the steady belief in the further crypto assets boom on the part of Ethereum, which is still much undersold compared to Bitcoin. Though the critics recall the previous prognosis flop of the company, leading to the crypto tumbling for 2 consecutive years, there are some arguments to back up the positive crypto trend within modern realities. The major one is Ethereum’s link with payments, NFTs, and DeFi, which significantly strengthens its position in the digital economy. Regulation plays its role in crypto establishment in the market too, as the new legal requirements to the traditional currencies, like Dollar, amplify the cryptocurrency values. So, would Ethereum become the new-age gold?

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Trade Republic Now Has the Reason To Be Proud: Look at Its Valuation!

The relatively new broker app (2015’s birth), hail from Berlin, has been valued at over $5 Billion, which is a truly unprecedented case in the history of German fintech. The company is specialized in trade stocks, ETFs, cryptocurrency, and fin-focused apps. Due to its almost absent order commissions and fees, it has quickly gained popularity first in Germany and then spread to France and Austria. The other European markets are already waiting for its entrance too, while the experts have some doubts about the company’s further revenue generation and solvency. However, Robinhood’s example, based on the same order flow income growing model, provides the promising upside of Trade Republic’s future.

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Customer Bank & Tassat — A New B2B Payment Strategy in Action

According to best estimates, the business deal between the full-service US bank and the smart blockchain tokenization technology provider should result in secure instant payments and easy deposit management for Customer Bank’s clients and a wider market expansion for Tassat. Another win-win? Considering the API’s first implementation in 2019, the whole story is expected to have a happy ending, but you never know what happens next to the digital fintech, right?

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Little About Startups’ Big Breaks and Valuation

Congratulations to the US Blockchain Provider: Figure Technologies Costs $3.2 Billion

Another American fintech company with blockchain technology has confidently secured its position, and it’s Figure Technologies, which is now collaborating with 10T Holdings, Morgan Creek Digital, DCM, HCM Capital, RPM Ventures, and other respectable investors. Co-founded and currently led by Mike Cagney, the former SoFi founder, Figure Companies continues to show revenue growth. Its business is grounded on Provenance, an open-source, decentralized blockchain that enables the platform’s hosting in the digital finance markets. It’s interesting which move will be the next on Cagney’s part to make its fintech firm afloat — any ideas?

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ProducePay Is Looking For the New CTO after $43 Million Landing

Though this American startup in the global fresh produce market has recently made a hit in its Series C funding round, its current co-founder Pablo Borquez Schwarzbeck has shared the breaking news — the company is seeking the new ‘rockstar’ CTO. It’s not all smooth sailing or why so? In 2020, ProducePay doubled its revenue and took roots in both South and North American geographies (12 countries there). What’s more, 10,000+ growers and distributors are notably giving preference to the platform these days. So, what’s the reason under Schwarzbeck’s readiness to relinquish the post?

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DailyPay Has the Ambitious Plan to Transform the Financial System

Can you believe that the startup, born in 2016, is capable of raising its revenue by 141% already in 2020? And you probably will be even more astonished to hear that the company considers itself powerful enough to announce the intention of modifying the current American financial system. For this aim, Jason Lee, the founder of DailyPay, is going to spend $500 million on acquiring new market opportunities. Today the fintech provider works hard on making financial institutions and merchants gruntled with the money flows infrastructure. The latest release of the new tools adds even more to the success of this mission. So, would this NY-based young company achieve the desired? Will see!

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Steps Towards Better Fintech Service

EML Payments Limited & AptPay Joined Efforts to Please Canadians

In a rush for instant and real-time payments, many companies make beneficial alliances to boost their competitive advantage and enhance the clients’ loyalty and satisfaction rate. One of such recent cases is EML Payments Limited’s partnership with AptPat, which is anticipated to bring in new payout solutions to the Canadian audience. Is it a deep desire to come up to the customers’ expectations or the mere business tactic to gain even more income?

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Joyn’s Shares Are Now Divided Between BNP Paribas Fortis, KBC, & ING

Have you heard about Joyn? That’s a European market leader offering the digital loyalty card for 7,500 merchants. Serving the needs of almost 2 million users, the company is on the way to shares division among the reputable banking players: one-third of majority control is now in the hands of BNP Paribas, KBC Group, and ING Belgium correspondingly, while the smallest block of shares belongs to Gate 54. The leaders in the market are glad to contribute to Joyn’s further growth and better response to the retailers’ needs. Though each one has its micro aim here, their input to the local service spreading is undoubted.

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Mastercard Welcomes NEC Payments Under Its Wing

World-wide payment cards supplier is now uniting with the narrow Bahrain-originated digital banking leader to bridge the two parties — the technological startups and the traditional banking players. What for? To give them the easier start of the Mastercard issuing process and wider banking perks. This will be realized through the 3-dimension Mastercard Fintech Express basis: Access, Build, and Connect. All in all, the new partners are granted well-established onboarding and the opportunity to build the new business merges and add more solutions to the core kit of financial tools.

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We’re on cloud nine when seeing at your running headlong into our digest reading. Are we sustaining your appetite for more banking and fintech-related updates? If yes, thanks for being with us, and we’ll be waiting with open arms to welcome you back to the Dashdevs digest! See you in a week!

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