1.UK – FinTech
“Asset management giant Abrdn has bought Finimize, the financial investment and publishing group, for an undisclosed sum in a surprise acquisition.
Abrdn says it will fund Finimize’s expansion, giving it access to Abrdn’s network of partners and infrastructure.
“In a world where technology has largely removed the friction from investing, information is king. There have been huge amounts of innovation in the brokerage space, but very little when it comes to information,” Rofagha said.
“Fintechs have reduced barriers to entry for retail investors, but there’s a huge demand for accessible high-quality investing information. We believe our platform needs to be bite-size, mobile and social to fit modern investors' busy lives.”
Finimize has amassed over a million subscribers and 40,000 members (paying £5/month) since it started its life back in 2015.”
2. US – FinTech
“Regulations are not a barrier to innovation but rather a groundwork to ensure future success. The regulation in European fintech surrounding emerging technologies like AI, crypto and blockchain can act as guidance for other regions to follow, as innovation has not been hindered. Instead, it has been guided in a certain way to ensure consumer trust.
Susan Friedman is the Head of Public Policy at Ripple where she engages policymakers worldwide to guide and advise on cryptocurrency and blockchain regulation. Prior to this, Friedman was the Senior Advisor to CFTC Chairman Heath Tarbert in his previous capacity as Treasury’s Assistant Secretary for International Markets. In this role, she regularly advised and collaborated with Treasury officials on matters including international financial services regulation, investment security, and trade.”
3. International – FinTech
“More than 20,000 investors are now signed up with Croatian peer-to-peer lender Robo.cash.
Robo.cash writes in a blog post that the month of October 2021 made them happy with a new milestone: over 20k investors have now registered on the Robo.cash platform. The platform’s management noted that they really appreciate that you share your financial goals with them.
In October, already over 800 clients have joined Robo.cash, bringing the total number to 20,196, the company revealed. The average investment is presently 4,034 euros, which is “21% more than at the beginning of the year.” In total, investors have “earned more than 4.4 M euros,” the update noted.”
4. International – FinTech
“Digital insurance provider Getsafe has scooped a licence from the German financial regulator BaFin, allowing it to accelerate its geographical expansion plans across Europe.
Germany-based Getsafe is active in both the UK and its home market and has in total 250,000 customers but is now mulling its next European launch in markets such as France next year.
“The license is a significant milestone – especially when considering that the German regulator has set out stricter rules for new registrations following the Wirecard scandal”, said Christian Wiens, CEO and founder of Getsafe.
“We can now passport our license within the European Union and take full advantage of our technological platform”, he added.
“We have a quarter of a million young customers who will grow with us for an IPO,” Wiens added.
Getsafe currently offers home and car insurance and has plans to expand into more verticals such as life and health insurance.”
5. International – FinTech
“Shiba Inu (SHIB) is now available for trading on digital asset exchange OkCoin – with some of “the lowest fees around.”
OkCoin users are able to deposit, withdraw, and trade SHIB against USD via the exchange. All OkCoin clients including those in the US, except for residents of the EU, the UK, Singapore, and Brunei, are able to conduct transactions with the SHIB token.
As explained by the OKCoin team, the Shiba Inu coin was “created anonymously in August 2020 under the pseudonym ‘Ryoshi’.”
Shiba Inu aimed to be the Ethereum-powered counterpart to Dogecoin’s Srypt-based mining algorithm. It started off as a crypto token “inspired by Dogecoin but it’s evolved to become a lot more than that,” the OKCoin team notes while adding that it has a decentralized exchange called ShibaSwap, an NFT incubator called Shib Art, and additional tokens such as LEASH and BONE.”