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| February 27 · Issue #20 · View online |
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Happy Tuesday everyone! Playing catch up this week since I was out the office last week for President’s Day weekend and then got a bit buried with work. I’ve also been spending some time re-learning various topics in payments and plan on posting online a few of the summaries I’ve made for myself. It’s been a bit amusing to see how quickly various individuals in the media, crypto, technology, etc have been exposed to a crash course in payments in order to keep up with all the various announcements in fintech, myself included. Whenever I’m put on the spot, I always discover some new gap in my knowledge on payments. But on the flip side, whenever I try to google or ask for answers, I also find that quality resources on payments are quite dispersed. I posted up some links of resources that I find myself consistently referring to, but looking for more! What are some of your go-to links, books, articles, etc on payments? Feel free to reply directly :).
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NY Fed finds fintech mortgages quicker, less risky than bank loans
Mortgage lenders that exclusively use online applications approve loans quicker, experience fewer defaults, encourage more refinancing and respond to demand shifts better than brick-and-mortar rivals Expect to see a whole lot of movement over the next 1-2 years from legacy players as the mortgage process continues to get digitized.
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Bitcoin News: Circle Buys Poloniex in Big Cryptocurrency Deal
Circle’s purchase of Poloniex moves it closer to building a Wall Street-style bank around the tech behind Bitcoin. Lots of 💵 to be made in crypto OTC + consumer exchanges. Will be interesting to see how the SEC actually responds to the historical lack of KYC on Poloniex as Circle moves to register the exchange.
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Anthony Noto’s Mission as SoFi CEO: Get the Startup Ready to Go Public - Bloomberg
Anthony Noto, the new chief executive officer of Social Finance Inc., is looking to steer the company out of crisis and get it in shape for a potential initial public offering. Noto wants to create a broad online financial-service company, adding checking and savings accounts and wealth management to the main business of refinancing student loans. More competition in the consumer fintech space. Aka banking keywords just keep on getting more and more expensive…
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Robinhood Crypto Trading Is Here — Under the Hood
Check your inbox, because the first set of Robinhood customers can buy and sell Bitcoin and Ethereum with Robinhood Crypto, starting today. All your investments, commission-free, on one platform. Crypto as an marketing + acquisition strategy!
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Robo-adviser Wealthsimple raises $51 million to expand service | Reuters
Wealthsimple, a Toronto-based online wealth management startup, has raised $51 million (36.58 million pounds) in funding from Power Financial Corp (PWF.TO), as it seeks to compete in the increasingly crowded digital investment advice market. Big round for Wealthsimple, watch out for potential large push into other markets outside of Canada. Currently live in US + Canada…
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The Amazon Prime credit card will start giving 5 percent back on Whole Foods purchases - Recode
Whole Foods shoppers who pay with the Amazon Prime Rewards Visa card will earn 5 percent back at the grocery chain’s U.S. stores. Everything is fintech!
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Why Decentralization Matters – Chris Dixon – Medium
Centralized platforms have been dominant for so long that many people have forgotten there is a better way to build internet services. Great post by Chris Dixon of A16Z on why people are so excited about blockchain and decentralization
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Coinbase Overcharging Glitch Likely Worldpay, Visa's Fault
Coinbase customers were overcharged for Bitcoin after glitches at payment companies Visa and Worldpay resulted in a million double charges. It’s really rare to see Visa admit fault on behalf of a company, looks like Visa + Worldpay messed up the new MCC codes for crypto (article in my last newsletter!)
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Crypto Canon – Andreessen Horowitz
Here’s a list — building on and including Chris’ last roundup — of crypto readings and resources. It’s organized from building blocks and basics; foundations (& history); and key concepts — followed by specific topics such as governance; privacy and security; scaling; consensus; cryptoeconomics and investing; fundraising and token distribution; decentralized exchanges; stablecoins; and cryptoeconomic primitives (crytocollectibles, curation markets, games). Huge list of blog posts, articles, and research on crypto from A16Z
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