Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [October 28, 2020] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. JP Morgan sets up Onyx, a new Department of blockchain and digital currency projects

In 2019, JP Morgan created JPM coin digital token, which can realize real-time transaction settlement between customers of bank wholesale payment business. Taka georgakopoulos, head of JPMorgan’s global wholesale payments business, told CNBC that JPM coin had been used for commercial payments by a large technology company for the first time this week. At the same time, JPMorgan has set up a new unit called Onyx, with 100 employees dedicated to various blockchain and digital currency projects. Georgakopoulos said the decision showed that JP Morgan’s blockchain and digital currency technology had begun to transition from research stage to commercial application stage.

[2]. Trump campaign website briefly attacked by cryptocurrency fraudsters

On Tuesday afternoon, President Trump’s campaign website was briefly hacked and some of its contents were affected. The “about” page was replaced by a scam to collect cryptocurrency. The hackers claimed to have internal information about the origin of the coronavirus, as well as other information damaging Trump’s image, and provided two Monroe addresses. Within minutes of the attack, the site was restored to its original content. There is no evidence that any sensitive data, such as donor information, has been accessed, and webmasters are still investigating the incident thoroughly. There is also no indication that the attack was carried out by any country in any way.

[3]. UBS next: UBS next

On October 27, 2020, UBS announced that it would launch a new investment plan called UBS next. The $200 million plan is funded exclusively by UBS and managed by a team with extensive market experience. UBS next will mainly seek direct investment in early stage fintech and other pan tech ecosystem enterprises, and strategic cooperation with Anthemis, who has more than a decade of experience in identifying potential fintech companies, which will help UBS speed up its investment and trading processes. UBS said that this is another positive attempt by the group to focus on the digital process in the financial field in addition to the exploration of innovation laboratory, digital factory and future financial plan.


[4]. Drivewealth, a digital brokerage technology provider, won $56.7 million in round C financing

On October 27, 2020, drivewealth, a technology provider of digital securities companies, announced that it had obtained $56.7 million in round C financing. The financing was led by point72 ventures, with Raptor group, SBI holdings and Route 66 ventures participating. In addition, it also attracted two new investors, mouro capital and Fidelity International Strategic ventures. Drivewealth promotes the modernization of financial services through the API based brokerage infrastructure. At present, drivewealth has reached cooperation with hatch, revolut, stack and moneylion and other financial technology enterprises, providing millions of retail investors in 153 countries / regions with access to the U.S. stock market. In the second quarter of 2020, drivewealth partners opened more accounts than e * trade, Schwab and TD Ameritrade combined, and rose 33% again in the third quarter. In April 2018, drivewealth also completed round B financing totaling US $21 million. After this financing, the total financing of drivewealth has reached US $100.8 million.

[5]. IDC global financial technology top 100 list announced, a number of Chinese enterprises were selected

On October 13, 2020, IDC Financial Insights released the 2020 top 100 of financial technology ranking. IDC assesses the annual income of technology service providers by providing hardware, software and services to financial institutions. The top 100 enterprises all account for more than one third of the annual income of the institutions. A number of Chinese enterprises, including Hengsheng Electronics (40), Zhongke Soft Technology Co., Ltd. (43), Ping An Technology (48), Nantian information (49), Yuxin Technology (54), finance one account link (66), Hengtai software (94), Bangsheng Technology (98) and other Chinese enterprises were selected into this year’s top 100 list.

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