Show notes
This week's list of top stories in fintech:
Amazon is adding a Venmo checkout option next year
- 80 million US consumers
- Will be able to use Venmo in checkout next year
- PayPal will not be a payment option
- Is payment by crypto coming?
Robinhood says a hacker who tried to extort the company got access to data for 7 million customers
- Data breach happened on Nov 3
- No SSN or bank data was shared
- 5 million email addresses
- 2 million had full names as well
- 310 people had more complete data stolen
Should stablecoin issuance be confined to FDIC-insured banks?
- Avanti is applying for FDIC insurance in response to the Biden report on stablecoins
- NYDFS oversees the top U.S. stablecoin issuers, Circle, Paxos and Gemini.
- States are creating their own regulatory framework
- Cato Institute proposed stablecoin issuers be regulated as limited purpose investment companies, overseen by the SEC
- $450M Series E led by Accel and T. Rowe Price
- $4.5B valuation up from $1.3B in March
- Have 12 of the top 15 banks as customers, plus many leading fintech companies
- Looking to go public in 2023
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Until next time.
