1.UK – P2P
Peer2Peer Finance News reports:
“MONEYTHING is planning to lend to less risky businesses to attract a wider pool of investors.
The manual peer-to-peer business lending platform said it was not sustainable to focus purely on the higher risk/return side of the market and thus it will start lending to lower-risk businesses at lower rates.
It will offer investors returns ranging between seven and 10 per cent, instead of 12 per cent. MoneyThing also said that it may launch an auto-invest option.”
2. UK – AltFi
More recycling of the established facts on the LCF affair, this time from Money Marketing. The news point is that the marketing company spent money on Google promotions.
“Collapsed mini-bond provider London Capital and Finance saw more than £20m-worth of promotions appear on Google before it went under and was investigated by the FCA, a report in the Times claims.
LCF contracted digital marketing firm Surge Group to help raise investor funds, the Times says, which targeted the search engine giant in a £20m advertising push, according to the paper.”
3. UK – AltFi
Reuters reports on the fallout from the Woodford income fund debacle.
“The suspension of Neil Woodford’s flagship fund has put the focus on a little known firm tasked with ensuring his investors were being looked after properly.
While Woodford, one of Britain’s highest profile money managers, picked the companies in which the LF Woodford Equity Income Fund invested, the fund’s governance was overseen by a company with a much lower profile — Link Fund Solutions.
Link acts as Woodford’s Authorised Corporate Director (ACD) and is the fund’s legal owner. In the prospectus for the suspended fund, Link lists a group of six directors led by its Chief Executive, Christopher Addenbrooke.”
4. International - FinTech
- FINRA has sat for months on roughly 40 broker-dealer applications from companies dealing in crypto assets, denying them a broker-dealer license that would let these firms offer securities in the U.S.
- Some think FINRA, a self-regulatory organization, is holding off on these approvals at the SEC’s request, as the agency has yet to offer clear guidance.
- Frustrated crypto startups may look to abandon the U.S. entirely, and focus on launching in other jurisdictions.
5. International – FinTech
Crowdfund Insider reports:
“Young Platform, an Italy-based cryptocurrency exchange platform, is now seeking 500,000 through equity crowdfunding platform Seedrs. Started in 2017 (launched in 2018), Young Platform is on a mission to make crypto accessible for everyone.”
6. International – FinTech
Crowdfund Insider reports:
“Global digital asset exchange OKCoin announced on Monday it has teamed up with fintech Simplex to enable international users to make USD deposits through debit or credit card. According to OKCoin, the feature is available to users outside of Europe, China and the U.S., with plans to extend functionality to additional countries in the future.”