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Facebook is now Meta. Fiserv is doing its part to bolster crypto mainstream adoption among consumers and merchants. Fintechs are coming to America for their IPOs. Mark Cuban’s NBA team is going further down the bitcoin rabbit hole, and Visa is in the hot seat with regulators.  

Greetings Fintech Friends! This week we explore the Budget Reconciliation Bill and its impact on American prosperity, delve into Mastercard's major new leap into crypto and report on a $900M funding round for a Berlin-based mobile banking app plus more. Read up! Cindy Taylor, Publisher

While it’s no secret that inflation has reared its head in the economy, one tech billionaire now warns that hyperinflation could be on the horizon. A legacy asset management firm that dates back to 1939 has collaborated with one of the cryptocurrency industry’s most innovative wealth management platforms. Corporate America is making it easier for consumers to buy bitcoin and use it for payments. Facebook as the world knows it might be a thing of the past. 

This week we have some really interesting and diverse deals to review in our Top 5 VC Deals in Digital Wealth column - across multiple sectors and on 3 continents. And even though it's the dead of summer (though in Montana we're already moving straight into fall), there is still some big money moving around in the VC sector for fintech and digital wealth.

Despite the chaos in the world lately, the financial markets continue to turn. Global fintechs are exploring the U.S. markets for multi-billion-dollar public listings, including more potential SPACs. Just because a company looks like a fintech doesn’t mean it is one. Demand for bitcoin and Ethereum is only growing stronger, and crypto payments have made their way to Android. Let’s dive in.

Big news arrived from CoinDesk this morning regarding JP Morgan’s preparation to launch its first actively managed Bitcoin fund for its private wealth clients by this summer.

Fintechs continue to grab the spotlight on a global stage as venture capital chases startups and the pipeline continues to grow for more mature companies to list in the public markets, mostly through SPACs. The pace of deals does not appear to be slowing down as fintech billionaires are minted overseas while Asia and Latin America seek to raise their profile for tech innovation. The Robinhood of Pakistan’s investment app is one of two fintech related rounds just announced. And millennials are fueling a transformation in banks to a more digitized business model. Let’s dive in.

We saw three deals close this past week in excess of $100M - two in the US and one in a new market for us - South Africa.

MX, the leader in open finance and creator of the Money Experience category, today announced an integration partnership with Hydrogen to empower financial technology developers to build sophisticated fintech applications in minutes.

The global market for Artificial Intelligence (AI) is projected to reach US$312.4 billion by the year 2027, trailing a post COVID-19 CAGR of 32.7% over the analysis period 2020 through 2027. Globally, over 567 AI start-up companies received investments in the first five months of the year 2020.