Why each Libra member’s mutiny hurts Facebook

There’s a strategic cost to the defection of Visa, Stripe, eBay, and more from the Facebook -led cryptocurrency Libra Association . They’re not just names dropping off a list. Each potentially made Libra more useful, ubiquitous, or reputable. Now they could become obstacles to the token’s launch or growth. Fearing regulators’ inquiries not just into […]

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Pegging Libra just to the $ could soothe regulators, a16z says

Regulatory pushback to the Facebook-led cryptocurrency Libra has caused major partners including Visa, MasterCard, PayPal, and eBay to pull out of the Libra Association. But one of the remaining members has floated a major change to the stablecoin that could calm concerns that Libra could hurt the world economy by challenging national currencies for supremacy. […]

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To beat Amazon Go, Standard Cognition buys cashierless DeepMagic

Valued at $535 million, autonomous retail startup Standard Cognition has emerged as a soon-to-be tech giant and the best hope for merchants to compete with Amazon Go. Cashierless checkout is poised to transform brick-and-mortar commerce, and shop owners fear having to battle Amazon’s technology alone or partner with it, exposing data it could use against […]

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Robinhood revives checking with new debit card & 2% interest

This time it actually has insurance. Zero-fee stock trading app Robinhood is launching Cash Management, a new feature that earns users 2.05% APY interest on uninvested money in their account with the ability to spend it through a special Mastercard debit card. The waitlist opens today in the US with the first users to be […]

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Robinhood revives checking with new debit card & 2% interest

This time it actually has insurance. Zero-fee stock trading app Robinhood is launching Cash Management, a new feature that earns users 2.05% APY interest on uninvested money in their account with the ability to spend it through a special Mastercard debit card. The waitlist opens today in the US with the first users to be […]

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Get guaranteed rent for your home from new startup Doorstead

Missing out on a month’s rent because you can’t find a tenant is a huge loss. Searching for someone to fill a home takes work, while property managers are incentivized to price your place too high leading to costly vacancies. But new startup Doorstead wants to take on the risk and the work for you. […]

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PayPal to enter China through GoPay acquisition

The People’s Bank of China has approved PayPal’s acquisition of a 70% equity state in GoPay (Guofubao Information Technology Co. (GoPay), Ltd.), which will make PayPal the first foreign payment platform to provide online payment services in China. GoPay has licenses for online and mobile transactions, and mainly provides payment products for industries including e-commerce, […]

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Manila-based payments processing startup PayMongo raises $2.7 million in seed funding

Manila-based financial tech startup PayMongo has raised $2.7 million in seed funding to give merchants in the Philippines and other Southeast Asian markets simple ways to set up online payments. Investors included Founders Fund, Peter Thiel and Stripe, with participation from Y Combinator (PayMongo is the first Philippine fintech company it has funded), Global Founders […]

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Extra Crunch community perk from Brex now includes airline points transfer with JetBlue

The community perks for Extra Crunch members just got better with an upgrade to our offer from Brex. Earlier this month we announced that annual Extra Crunch members can get 100,000 Brex Rewards points after signing up for a Brex corporate credit card. Now the offer includes an airline miles transfer program headlined by JetBlue TrueBlue […]

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Fundbox raises $176 million Series C to build ‘Visa’ for B2B payments

Credit cards have become all but ubiquitous for consumer transactions, and it isn’t hard to see why. By intermediating payments, networks like Visa allow buyers and sellers to exchange money for goods and services without knowing the financial risk profile of the counter-party. Rather than applying for credit at every merchant you shop at, you […]

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