Robinhood acquired X1, marking its first foray into credit cards; the NY AG’s office released new documents showing Tether’s reserves used to include commercial notes from Chinese companies; Fed Chair Jerome Powell told Congress he views stablecoins as a form of money that should be regulated as such; it appears likely that Goldman Sachs will take a significant writedown on GreenSky; Alphabet and Plaid both launched new anti-fraud tools; and Adyen announced a new global partnership with Shopify. All this + more inside!
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Fintech Update, 6/19 - 6/25
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Robinhood acquired X1, marking its first foray into credit cards; the NY AG’s office released new documents showing Tether’s reserves used to include commercial notes from Chinese companies; Fed Chair Jerome Powell told Congress he views stablecoins as a form of money that should be regulated as such; it appears likely that Goldman Sachs will take a significant writedown on GreenSky; Alphabet and Plaid both launched new anti-fraud tools; and Adyen announced a new global partnership with Shopify. All this + more inside!