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In the lobby
Coinbase, Fidelity Investments, Square and crypto investor Paradigm are teaming to push for favorable outcomes as cryptocurrency regulation takes shape.
The Crypto Council for Innovation will operate internationally, providing information and encouraging what it sees as responsible public policy. The group will also share insights and analysis about crypto, while “correcting misperceptions,” reports Bitcoin Magazine.
The magazine reports that while the CCI is focusing generally on cryptocurrency, its members have a vested interest in bitcoin. Fidelity is trying to gain approval for a bitcoin ETF, and bitcoin trading has become a primary source of Square’s revenue.
First time payer, long time listener
Social audio technology startup Clubhouse has hired Stripe to support transfers directly to speakers on the app’s digital broadcasts.
The business model is similar to Patreon in that it creates a direct route between content creators and consumers. Payers access a program host’s profile, tap “send money” and choose how much to transfer from a pre-enrolled credit or debit card.
Stripe collects a processing fee for the transaction from Clubhouse, but the consumers and creators are not directly charged for payments.
Crypto star
Bitcoin ATM firm Coinme has added about 300 Florida locations to its network of Coinstar terminals that enable bitcoin purchases.
Consumers in Jacksonville, Miami, Orlando and Tampa can use kiosks in Winn Dixie, Fresco y Mas and Harvey’s to buy bitcoin, reports Coindesk.
Coinme has similar partnerships with Coinstar at Safeway and Albertsons locations. The deployments are geared toward buying bitcoin rather than using the cryptocurrency for payments in the supermarkets.
New node
Hoboken-based fintech Roxe plans a pilot for blockchain-based transfers involving India, testing its payment rail in one of the world’s largest remittance markets.
Digital asset exchange platform BuyUcoin will use a Roxe payment node to manage cross-border payments and settlement in and out of India, using the distributed ledger to remove third parties that add time and processing cost.
Roxe contends its permissioned blockchain enables near-instant settlement, as opposed to days for traditional remittances. Roxe’s remittance service supports U.S. dollars and covers the U.S., India and other major remittance markets.
From the Web
Egypt’s Paymob closes $18.5M Series A to expand payments services across MENA
TECHCRUNCH | Thursday, April 8, 2021
While Nigeria and Kenya have been at the forefront of African fintech innovation, activities in Egypt are beginning to shape up nicely. Right now, Egypt is home to a burgeoning fintech startup ecosystem, and today, one of its biggest players, Paymob announced that it has completed an $18.5 million Series A round.
E-commerce firm StockX valued at $3.8 billion after new funding round
REUTERS | Thursday, April 8, 2021
E-commerce firm StockX said on Thursday it had raised $255 million in a financing round, valuing the company at more than $3.8 billion.
Best Buy’s $200 Amazon Prime rival offers tech support and free installs
ENGADGET | Thursday, April 8, 2021
The membership service is still in beta but will available in 60 stores by the end of April.
More from PaymentsSource
Magento adds Forter e-commerce protection for merchants
Forter has joined the Adobe Exchange Partner program, enabling Magento Commerce merchants to reduce false declines and block fraud attempts.
How cross-border fintechs help the Amazon ‘roll up’ market bear fruit
PingPong and Perch want to make it easier for third parties, which are often accumulated into a larger group by acquisition, to sell overseas on Amazon’s platform.
Payment facilitators can lead small business out of the crisis
At a time when it’s never been more important for small businesses like salons and spas to improve economics, scalability and control, fintech can provide a path to better margins—and better days—ahead, says Boulevard’s Biju Nair.
Blackhawk joins Bakkt’s digital currency app
Gift card giant Blackhawk Network has partnered with Bakkt, which offers an app to manage various digital currencies.
Ekata adds speed, removes risk in micro-merchant onboarding
Digital identity data provider Ekata is launching a merchant onboarding process to help payment service providers, B2B lenders and marketplaces quickly add micro merchants and sole proprietors as customers.
Fast-growing Plaid raises another $425 million
Plaid, the fast-growing tech company that gathers customer account data from banks and delivers it to fintechs, seems to be drawing investor interest after its planned sale to Visa fell through. On Wednesday, Plaid announced a $425 million Series D round of funding.
How policymakers can encourage responsible innovation
Looking back at the unprecedented events of the past year, policymakers are sure to note the remarkable power of technology, both to do good and to fuel destructive forces.
dLocal’s $5 billion valuation shows investors’ fervor for cross-border payments
The fintech is one of several that have drawn capital to eliminate the challenges of international commerce.
Payroll innovation is a new perk in the battle for skilled staff
Companies that can pay people quickly and flexibly will have an advantage, says Payslip’s Fidelma McGuirk.
Dwolla API adds real-time payments via Cross River Bank
The promise of faster payments doesn’t carry much promise if a bank or business can’t connect into rails that provide an instant money transfer service. Dwolla wants to solve the problem.
Facebook tests QR code-based P2P payments in U.S.
Facebook’s evolving suite of shopping and payment services now includes an option to send funds to another person via Facebook Pay using a QR code.
Best Fintechs to Work For
Top executives from the 49 companies that earned a spot in this year’s ranking of the Best Fintechs to Work For cite the need for nimble shifts in business strategy, leadership style and recruiting tactics among the lessons they took away from the challenges of the coronavirus crisis.