Author: nripn

Pan-African fintech startup Yellow Card has raised US$33 million in Series C funding to drive its global expansion and strategic initiatives, bringing its total equity funding to US$85 million. Since its launch in Nigeria in 2019, Yellow card has become the largest and first licensed Stablecoin on/off ramp on the African continent. It has operations in 20 African countries and over $3 billion in transactions facilitated across the continent. In September 2022, it announced the closure of its US$40 million Series B roundand has now followed up with a US$33 million Series C round, led by Blockchain Capital, with participation…

CapWay, a Y Combinator-backed fintech that sought to bring financial services to people living in so-called banking deserts, has been shut down, according to its founder Sheena Allen. Allen wrote about this on LinkedIn and confirmed to TechCrunch. “I am proud of the work we were able to accomplish, but honestly disappointed that we were not able to complete the mission,” she wrote. “I believe there is still much work to be done in the area of ​​financial inclusion, so this won’t be the last time you hear from me when it comes to the fight for economic equality. Allen…

(Reuters) – Nvidia shares hit a record high amid a rally in U.S. chip stocks on Thursday after strong sales forecasts from industry barometer TSMC bolstered expectations Investor optimism about demand for processors used to power artificial intelligence applications.Taiwan Semiconductor Manufacturing Co, the world’s largest contract chipmaker, raised its expectations for annual revenue growth and said AI chip sales would make up an average percentage of its revenue. business for the entire year.US-listed TSMC shares rose more than 11%, pushing the company’s market capitalization above $1 trillion.The forecast from the leading producer of advanced AI chips boosted investor confidence in…

Payment technology company Stripe Inc. is reportedly in talks to acquire fintech startup Bridge Ventures Inc. for $1 billion. According to ForbesThe acquisition negotiations, which are still under discussion and subject to either party withdrawing, would constitute the largest deal made by Stripe to date. Some of the sources cited by Forbes also note that regulatory considerations such as licensing and compensation for employees, including Bridge founders Zach Abrams and Sean Yu, remained potential obstacles. Neither Stripe nor Bridge have commented on the announced acquisition discussions. Founded in 2022, Bridge is building a global payments network that uses stablecoins to…

The UK’s financial watchdog is launching an AI Lab to bring together technology companies, academics and regulators to better understand the present and future impact of technology on financial services. Announced in a speech by Jessica Rusu, Head of Data, Information and Intelligence at the Financial Conduct Authority (FCA), the AI ​​Lab will support the implementation of AI in finance and outline how it can be regulated. The lab will consist of four elements: AI Spotlight, where developers and businesses share how they use AI; AI Sprint, which will examine how to enable the safe adoption of AI in finance;…

In a joint statement, the Federal Deposit Insurance Corp., the Federal Reserve and the Office of the Comptroller of the Currency warned that end users could “reasonably” confuse certain “nonbank third parties” with FDIC-insured banks.Bloomberg WASHINGTON — Federal banking regulators on Thursday issued a joint warning — as well as a request for information about — the potential risks of bank-fintech partnerships.The joint statement — issued by the Federal Deposit Insurance Corp., the Federal Reserve and the Office of the Comptroller of the Currency — warned banks about the risks associated with relying on third parties, particularly for deposit-related services.“A…

Credit: Pixabay/CC0 Public domain When it comes to investing and planning your financial future, are you more willing to trust a person or a computer? This is no longer a hypothetical question. Major banks and investment firms are using artificial intelligence (AI) to make financial forecasts and advise their clients. Morgan Stanley uses AI to mitigate the potential biases of its financial analysts when it comes to stock market forecasts. And one of the world’s largest investment banks, Goldman Sachs, recently announced that it was testing the use of AI to help write computer codealthough the bank declined to specify…

Nothing motivates us like a big M&A buzz, and history has shown that where there’s smoke, there’s often fire – but that’s not always the case. Last week the big rumor involved Salesforce acquires Informatica in a deal amounting to somewhere between $6.5 billion in 2018 MuleSoft offer and the 15.7 billion dollars Painting Acquisition the following year. This would have been a big deal, except it would have fizzled over the weekend – if it ever existed. Informatica has gone as far as announce publicly on Monday that it was not for sale. “Additionally, on April 12, 2024, the…

Bengaluru: India’s fintech startup ecosystem secured $778 million in funding during the July-September period, reaching second place globally after the United States in terms of fintech funding raised in the third quarter, according to a report released on Tuesday .This growth can be attributed to government initiatives such as the promotion of digital payments through UPI, with over 14 billion transactions processed in May, the JAM-Trinity initiative integrating Aadhaar with bank accounts and mobile numbers, and the allocation of Rs 2,600 crore in incentives. to support fintech startups. This also represents a 66 percent increase from the $471 million raised…

Several chipmaker stocks rebounded Thursday amid optimism about AI demand at Taiwan Semiconductor Manufacturing Company (TSM) dazzling results in the third quarter.AI chip maker Nvidia (NVDA) rose as much as 3%, at one point hitting an all-time intraday high as investors reacted to TSMC’s positive sentiment towards artificial intelligence. Nvidia’s rival, Advanced Micro Devices (AMD) climbed 1.3% before paring gains. Semiconductor company Broadcom (AVGO) ends the day up 2.7%. Chipmaker Qualcomm (QCOM) rose as much as 1.7%, although the stock later reversed direction. US-listed TSMC shares jumped 9.8%, pushing the company’s market capitalization past the $1 trillion mark.After underperforming the…