The Week in Digital Wealth (1/23/24)


It’s tax season!

Have you done your numbers?

  • That said, Hidden Road is going deeper into the transaction space
  • Cops think the metaverse works for them
  • There are a few tax integrations
  • HNIs have a new solution that offers over $100 million in FDIC coverage (more on that later)
  • Plus, how dangerous is AI for Real Estate? (read on to find out)

Again, it’s your week in digital wealth!

WealthTech, RegTech, Regulatory, and Treasury

Hidden Road/CME

In a January 17 announcement, Hidden Road, the global credit behemoth, revealed the expansion of its intermediation business.

Additionally, CME Clearing is the first transaction venue, with global access coming soon.

Clear Street

Corporate players in the industry now have more options with niche access by Clear Street. The development was revealed in a January 17 press release, enabling flexibility in its brokerage ecosystem.

Consequently, decision-making in the investment cycle is now streamlined.

BNY Mellon

BNY Mellon, the financial services giant, revealed that it was now part of the CLSNet ecosystem, improving FX trade processing and cashflows.

Additionally, BNY also revealed improved numbers per growth.

Crypto, Blockchain, and Digital Assets

Internal Revenue Service (IRS)/Department of the Treasury

Crypto businesses can heave a sigh of relief with a January 16 announcement from the Treasury and the IRS rolling back reporting rules.

Consequently, businesses don’t need to follow reporting requirements for crypto-related transactions over $10,000.


Excerpts from an upcoming report (in February) from Chainalysis, a premier blockchain analysis firm, show that the amount of illicit funds stolen by crypto scammers fell 29% in 2023.

Additionally, hackers lost more, with a 54% drop as firms deployed strict cybersecurity measures.


According to a recently published white paper by Interpol, metaverse platforms and ecosystems are great crime-fighting tools. The paper, by the Interpol Metaverse Expert Group, highlights the uses of various emerging technologies that can improve law enforcement activities.

FinTech, Personal Finance, and Apps

Mercury Financial/Amazon

Mercury Financial, the all-purpose FinTech, revealed a new partnership with Amazon for cardholder integration. Additionally, cardholders can enjoy several benefits while shopping, including earning and redeeming rewards.

Current/Column Tax/Varo

Taxes are easy for Americans with financial issues with a partnership between Current, the boutique FinTech, and Column Tax. The collaboration enables the free filing of taxes within the Current app and comes with a five-day refund guarantee by Column Tax. Early bird access refunds are possible for up to five days.

In related news, Column Tax partnered with Varo, a national digital bank, with a similar offering.

Mastercard/Create Labs Ventures

On the AI front, Mastercard was at it again with the launch of a small business-focused AI tool. AI mentor provides insights designed to give small businesses the required edge with content from a broad amalgamation of media firms.

Mastercard created the solution in partnership with Create Labs Ventures, a tech firm with a social issue bias.


Still for small businesses, slippery slopes per credit are now level with a new series of options from Nav, the financial health go-to firm. Business owners now have access to their options before credit applications thanks to data aggregation and analytics by Nav.

Banking, Payments, and Infrastructure

Alkami Technologies/Elevations Credit Union

Alkami Technologies, a boutique banking-focused FinTech, expanded its tentacles with a partnership with the Colorado-based Elevations Credit Union. The 170k-plus institution integrated Alkami’s business, online, and retail banking solutions.

Treasury Prime/FirstBank/High Circle

Spring came early for high-net-worth individuals with a new set of products courtesy of a partnership between Treasury Prime, a banking software boutique firm, Tennessee-based FirstBank, and High Circle, a niche wealth and investment ecosystem.

The checking account package has FDIC insurance coverage of up to $125 million and a 4% annual percentage yield (APY).


Finastra, a global financial software ecosystem, revealed the inclusion of AI solutions for its clients. Additionally, in a January 17 press release, Finastra unveiled the launch of Secure Zone, an everything data and AI platform that brings cutting-edge solutions closer to home for financial institutions.

Finastra developed Secure Zone in partnership with DataBricks, a California-based tech firm.

Bank for International Settlements (BIS)/International Organisation of Securities Commissions (IOSCO)

Several committees of the BIS, including the Committee on Payments and Markets Infrastructure (CPMI), the Basel Committee on Banking Supervision (BCBS), and the International Organisation of Securities Commissions (IOSCO) published a proposal for centrally cleared platforms and transactions.

The paper proposed, among other things, improving the conditions for transaction clearing, including legal and compliance flexibility, collateral variance, process streamlining, and third-party assessments and integrations.

REtech, InsurtTech and Investing

Delta Media Group

According to the 2024 Real Estate Leadership survey by Delta Media Group, AI may be more of a threat to the industry than legal issues. 82% of respondents indicated using automated tools to write property descriptions, with 67% deploying them for emails and newsletters and 60% for social media.

Delta Media Group is one of America’s leading Real Estate marketing and technology firms.


Across the border in Maple Country, Foxquilt, a boutique InsurTech, unveiled its collaboration with Markel, a global leader in the specialty insurance niche. The cooperation enables insurance solutions for small businesses and expands the operational map for Foxquilt in the United States.