News Comments
- Today’s main news: SoFi completes $960.2M student loan securitization. Robinhood adds zero-fee crypto trading, tracking. Goldman partners with Cadre. South Korea earmarks 11.2T won for midrange borrowers.
- Today’s main analysis: Buying overdue loans at discount on Mintos’ secondary market.
- Today’s thought-provoking articles: What RateSetter will look like without unsecured commercial loans. AltFi Data predicts strong U.S. MPL growth this year. How to avoid big banks and biased financial advice in Australia.
United States
- SoFi completes $960.2M student loan securitization. AT: “SoFi’s securitizations have not let up through the CEO scandal that rocked its boat at the end of last year, evidence that the incoming CEO could have less of a challenge that some may think.”
- KBRA assigns preliminary ratings to SoFo Consumer Loan Program 2018-1.
- The knife in Twitter’s back means a happy ending for SoFi investor. AT: “Interesting read from one investor’s perspective.”
- SoFi claims to have foundation for full recovery. AT: “And more. I predict they’ll do better than ever.”
- 6 benefits to SoFi parent student loans.
- U.S. student loan program to give students prepaid bank cards.
- Robinhood adds zero-fee cryptocurrency trading, tracking. AT: “This is a direct attack on Coinbase, looks like. But I wonder how long the zero-fee will last. It could be a marketing tactic to get new customers with plans to add a fee on later. Nothing wrong with that, but I hope, if true, the fee is lower than Coinbase’s. The competition can only be good for investors.”
- Former Ripple executive invests in Uphold.
- Goldman partners with Cadre. AT: “This looks like a great partnership that could give Goldman an even bigger boost in its tech holdings.”
- Venmo intros instant transfers for 25 cents. AT: “A great service.”
- How the new Consumer Financial Protection Bureau (CFPB) leadership will impact consumers (and lenders).
- CFPB pushes back prepaid card rules to 2019.
- Mastercard promises biometric identification in 2019.
- StreetShares secures $23M for office expansion.
- New RealtyMogul president talks about REITs.
- Talent as important as technology, says BoA chief operations and technology officer.
- BoA partners with Volvo on auto subscription service.
- 2K bank branches closed last year.
- 3 industries that can benefit from alternative credit data.
- Rally Rd finalizes $2.6M seed round.
- How one man paid off $70k in student loans in one year.
- Enacomm partners with Telvoyant.
United Kingdom
- What will RateSetter look like with unsecured commercial loans? AT: “By cutting the fat, RateSetter can focus on where the real money is.”
- Federation of Small Businesses enters alternative finance.
- Cutting-edge tech and insurance.
- LendInvest backs Leeds PRS scheme with 12M GBP.
International
- AltFiData predicts strong U.S. marketplace lending growth. AT: “Let’s hope they’re right.”
- Buying overdue loans at discount on Mintos’ secondary market.
- Global venture capital investment trends.
- Crowdfunding raises billions worldwide.
Australia/New Zealand
India
Asia
- South Korea earmarks 11.2T won for midrange borrowers. AT: “South Korea has been making strides in alt lending lately.”
Africa
News Summary
- United States
- SoFi Completes $ 960.2 Million Student Loan Securitization (Crowdfund Insider), Rated: AAA
- KBRA Assigns Preliminary Ratings to SoFi Consumer Loan Program 2018-1 (BusinessWire), Rated: A
- A Knife in Twitter’s Back Could Bring A Happy Ending to SoFi Investor’s Wild Ride (Inc.), Rated: A
- Scandal-rocked SoFi says it has foundation for full recovery (American Banker), Rated: A
- 6 Awesome Benefits of SoFi Parent Student Loans (Student Loan Hero), Rated: A
- Loan Program Plans to Offer Students Prepaid Bank Cards (The New York Times), Rated: A
- Robinhood adds zero-fee cryptocurrency trading and tracking (TechCrunch), Rated: AAA
- Former Ripple Exec Invests $ 57.5 Million in Uphold (CoinDesk), Rated: A
- Goldman Sachs Teams Up With This Silicon Valley Upstart in Commercial Real Estate (The Motley Fool), Rated: AAA
- Instant cash out comes to Venmo (Business Insider), Rated: A
- Trump administration prepares to roll back key financial protections for consumers (MarketWatch), Rated: A
- USA consumer bureau delays prepaid card rules into 2019 (AliveForFootball), Rated: B
- Mastercard eyes biometric totality by 2019 (Fintech Futures), Rated: A
- StreetShares lands $ 23M for expansion (Washington Business Journal), Rated: A
- REIT Industry Veteran Talks About What to Expect from the Sector in 2018 (NREI Online), Rated: A
- ‘AI isn’t just technology, it’s good judgment’: Cathy Bessant on why banks need humans (Tearsheet), Rated: A
- Bank of America Enters Car Subscription Space With Volvo (Auto Finance News), Rated: A
- 2,000+ bank branches closed in US in 2017 (Fintech Futures), Rated: B
- 3 Industries that can benefit from alternative credit data (MicroBilt), Rated: A
- Rally Rd collects $ 2.6 mln seed (PE Hub), Rated: A
- The Unconventional Way This Man Paid Off $ 70,000 in Student Loans (Student Loan Hero), Rated: A
- Enacomm Inks Reseller Agreement with Telvoyant (GlobeNewswire), Rated: B
- United Kingdom
- What will RateSetter look like without unsecured business lending? (P2P Finance News), Rated: AAA
- UK Federation Of Small Businesses Says AltFin Is Just Heating Up (PYMNTS), Rated: A
- Does cutting-edge technology require a new approach to insurance? (techworld), Rated: A
- Lendinvest backs £12m Leeds-based PRS scheme (Specialist Lending Solutions), Rated: B
- International
- AltFiData Predicts Strong Growth for Marketplace Lending in the US in 2018 (Lend Academy), Rated: AAA
- Investing on the Mintos Secondary Market – Hint 2 – Buying overdue loans at discount (P2P-Banking), Rated: AAA
- Global Venture Capital Investment Market – Top 3 Trends by Technavio (BusinessWire), Rated: A
- Crowdfunding – Raising Billions (BW Disrupt), Rated: B
- Australia/New Zealand
- Big banks, biased financial advisers, and the three tricks to avoid them (The NewDaily), Rated: AAA
- PledgeMe announces new crowdlending-inspired platform in the works (bizEDGE), Rated: A
- India
- Innovative products pay off for e-lending startups (ET Rise), Rated: A
- Asia
- W11.2tr earmarked for midrange borrowers (The Korea Herald), Rated: AAA
- Africa
- SelfKey Receives Regulatory Sandbox License in Mauritius (Crowdfund Insider), Rated: B
United States
SoFi Completes $ 960.2 Million Student Loan Securitization (Crowdfund Insider), Rated: AAA
Online lender SoFi announced on Thursday the closing of its $960.2 million offering of SoFi Professional Loan Program 2018-A Notes (SoFi 2018-A). According to the lending platform, the offering reflects underlying collateral of more than $1billion in student loans and is SoFi’s largest ever securitization, as well as the first by any fintech lender to reach the billion-dollar collateral mark.
KBRA Assigns Preliminary Ratings to SoFi Consumer Loan Program 2018-1 (BusinessWire), Rated: A
Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by SoFi Consumer Loan Program 2018-1 (“SCLP 2018-1”). This is a $591.5 million consumer loan ABS transaction.
Preliminary Ratings Assigned: SoFi Consumer Loan Program 2018-1
Class | Preliminary Rating | Class Principal | ||
A-1 | AA+ (sf) | $320,000,000 | ||
A-2 | AA+ (sf) | $142,500,000 | ||
B | A (sf) | $81,000,000 | ||
C | BBB (sf) | $48,000,000 | ||
A Knife in Twitter’s Back Could Bring A Happy Ending to SoFi Investor’s Wild Ride (Inc.), Rated: A
And the reason that departure could make me better off is that I invested in SoFi in December 2014 when the company was valued at $1 billion. The last time SoFi raised money – in 2017 – it was valued at $4.3 billion.
There are five reasons I invested in SoFi — of which these four are the most important.
1. It was targeting a huge market
SoFi started out targeting the $1.2 trillion student loan industry and in 2014 announced an expansion into the $12 trillion mortgage market.
2. Its management team had excellent industry knowledge
3. It knew what ailed stakeholders and provided a remedy
Of the 15,500 borrowers who had taken out about $1.3 billion worth of loans in 2014, SoFi estimated that it had saved the average borrower $11,783.
4, It looked like it could reach $100 million in revenue
In November 2017, Bloomberg reported that in the third quarter of 2017 SoFi’s adjusted operating revenue rose 8.2% to $145.3 million in the third quarter while its adjusted earnings totaled $56.1 million.
Moreover, SoFi added 55,000 members in the quarter to a total of 400,000 – having completed “more than $3.52 billion in loans in the period and completed three securities offerings totaling more than $1.5 billion,” according to Bloomberg.
Scandal-rocked SoFi says it has foundation for full recovery (American Banker), Rated: A
He points to the $12.9 billion in loan originations SoFi did last year. The company sold more than $2 billion of those loans.
“All our investors are still buying, and we’ve added many new investors post Mike leaving,” Jain said. “All our lenders continue to lend to us and they’ve shown interest in lending us more. In the face of adversity, we did all we could.”

6 Awesome Benefits of SoFi Parent Student Loans (Student Loan Hero), Rated: A
If your child is a college student, you can borrow money to help offset their education costs with a SoFi Parent Loan. According to the company, borrowers can save $3,637 over the life of the loan compared to a federal Parent PLUS Loan, on average.
If you took out a federal Parent PLUS Loan, you could face interest rates as high as 7.00%.
- Low interest rates – Depending on your credit score and income, you could qualify for a much lower rate with SoFi than you would with a federal student loan. SoFi student loans have fixed interest rates as low as 3.25% and variable rates as low as 2.58%.
- No origination or application fees – For borrowers who received their loans after October 2017, that fee is 4.264 percent of your loan amount. On a $10,000 loan, that means you’ll have to pay a fee of $426.40, adding to the cost of your child’s education.
- Career support
- Wealth advisors
- Member discounts – If you have a SoFi parent student loan and go on to take out a personal loan, mortgage, or another student loan with the company, you’ll receive a 0.125 percent interest rate discount on the new debt.
- Customer support
Loan Program Plans to Offer Students Prepaid Bank Cards (The New York Times), Rated: A
The Department of Education plans to provide students with a prepaid card that would hold surplus loan money that is not needed for tuition, giving the government and financial services providers a firsthand look at how students are spending those dollars.
Robinhood adds zero-fee cryptocurrency trading and tracking (TechCrunch), Rated: AAA
No-commission stock trading app Robinhood will let you buy and sell Bitcoin and Ethereum without any added transaction fees starting in February, compared to Coinbase’s 1.5 to 4 percent fees in the US. And as of today Robinhood will let all users track the price, news, and set alerts on those and 14 other top crypto coins, including Litecoin and Ripple.
Former Ripple Exec Invests $ 57.5 Million in Uphold (CoinDesk), Rated: A
Digital money platform Uphold today announced it has received a $57.5 million investment from former Fed Reserve senior analyst and Ripple chief risk officer Greg Kidd.
Goldman Sachs Teams Up With This Silicon Valley Upstart in Commercial Real Estate (The Motley Fool), Rated: AAA
Goldman’s strategic investments group, which makes venture-capital-like investments, now owns 80 portfolio companies. One such company is Cadre, a fintech company involved in online commercial real estate investing that Goldman funded in its Series B, C, and D funding rounds. The start-up, which happens to be led by some Goldman alumni, also just received a $250 million investment from Goldman’s private wealth clients.
Cadre also charges its LPs less than a typical private real estate fund. These funds usually charge a management fee, often around 1.5%, as well as a 20% cut of the profits above an 8% “preferred” return to LPs. On Cadre’s website, it advertises a 1% “transaction fee” (I assume that’s based on a per-deal fee, like a broker would get) and then a similar 1.5% management fee, but no incentive fee. Cadre claims this fee structure will increase investors’ invested rate of return by over 2% compared with a typical fund, all other factors being equal.
Instant cash out comes to Venmo (Business Insider), Rated: A
Venmo, the PayPal-owned digital peer-to-peer (P2P) transfer service, is officially launching instant bank transfers following a pilot held last summer. The new service requires a Visa or Mastercard debit card, and will allow users to instantly (within 30 minutes) cash out their Venmo balance for a flat $0.25 fee.
Trump administration prepares to roll back key financial protections for consumers (MarketWatch), Rated: A
The new leadership has taken over at a time when consumers are struggling with credit-card, auto loan and student loan debt. They’re also worried about their personal data, after a 2017 breach at the credit reporting agency EquifaxEFX, +0.81% exposed personal information of more than 145 million U.S. adults, including their Social Security numbers and financial accounts.
Mulvaney requested zero dollars for his second-quarter budget
The bureau already had $177 million in reserves, enough to cover the $145 million the bureau projected it would need during the second quarter, he said.
USA consumer bureau delays prepaid card rules into 2019 (AliveForFootball), Rated: B
The Consumer Financial Protection Bureau today finalized changes to its final rule on prepaid products, including an overall delay of the rule’s effective date until April 1, 2019 – an extension long sought by the American Bankers Association. The bureau also made changes meant to boost compliance with the rule and loosen rules on linking credit cards to prepaid accounts or “virtual wallets”.
The rule requires companies to disclose fees on prepaid cards and cooperate with consumers who discover unauthorized charges or errors.
Mastercard eyes biometric totality by 2019 (Fintech Futures), Rated: A
Mastercard says all consumers will be able to identify themselves with biometrics such as fingerprints or facial recognition, when they shop and pay with Mastercard by April next year.
StreetShares lands $ 23M for expansion (Washington Business Journal), Rated: A
The veteran-oriented online lender will beef up staff and look to expand its government contracting offerings.
REIT Industry Veteran Talks About What to Expect from the Sector in 2018 (NREI Online), Rated: A
NREI: More specifically, what’s your take on how publicly-traded REITs will perform this year? Will 2018 be better overall than 2017?
Aaron Halfacre: In 2017, publicly-traded REIT performance was anemic relative to the S&P 500. I think that can be largely attributed to a few factors: big demand for large-cap “infotech” names driving the broader market, a meaningful sell-off in retail REITs and general market hesitation on REITs in front of the tax bill and Fed decisions. On a relative basis, publicly-traded REITs are well-positioned in 2018, not only from the fundamentals picture, but from a value perspective.
NREI: What about non-traded REITs?
Aaron Halfacre: I think 2018 could be as strong, or stronger, than what we saw in 2017. Personally, I am excited about the industry changes in the non-traded REIT space. It is a good thing to see Blackstone and Starwood entering the space while some of the traditional fee-hungry shops have bowed out—a good advocacy trend for the individual retail investor. Institutional-grade real estate choices without the… fee structures of yesteryear, combined with greater valuation transparency and an investment that is not correlated to the broader equity market — that’s a positive story for all of us who aren’t part of the 1 percent.
‘AI isn’t just technology, it’s good judgment’: Cathy Bessant on why banks need humans (Tearsheet), Rated: A
Bessant is transforming B of A into a technology firm and leading it into a future that requires humans to apply immense computing power to immense amounts of data — an artificial intelligence future. But like any every other technology executive, she’s facing a shortage of talent with science, technology, engineering and math backgrounds. The result is often departments hiring from other departments.
Bank of America will spend $600 million this year on cyber defense alone. It employs 1,200 people whose jobs are dedicated to nothing else but information security, although the company makes that “the job of every single employee,” Bessant said. But the caliber of the talent the bank hires is just as important as the technology it invests in, since they’ll be the ones that determine how to work responsibly with AI.
Bank of America Enters Car Subscription Space With Volvo (Auto Finance News), Rated: A
All of Volvo Car Financial Services’ loan and lease originations end up on Bank of America’s balance sheet, Hollodick explained, including subscriptions to Care by Volvo, which starts at $600 a month for an XC40 compact crossover.
2,000+ bank branches closed in US in 2017 (Fintech Futures), Rated: B
US banks accelerated their pace of branch closures in 2017, shutting down 2,069 locations (an 18% increase compared to 2016), according to CoStar, a US-based commercial real estate news site.
3 Industries that can benefit from alternative credit data (MicroBilt), Rated: A
Although alternative credit remains a murky, unfamiliar concept to some, its adoption is slowly but steadily spreading. Some sectors may be particularly well-positioned to benefit from its use, and businesses under those umbrellas should consider adopting them if they haven’t yet done so.
Rally Rd collects $ 2.6 mln seed (PE Hub), Rated: A
Rally Rd., A marketplace for making investments in collector cars the same way you buy & sell stock, announced that it has raised a $2.6 million seed round investment from leading venture capital firms and individual investors.
The Unconventional Way This Man Paid Off $ 70,000 in Student Loans (Student Loan Hero), Rated: A
When Ray Laureano and his wife graduated from college, they left school with a staggering amount of student loans. Between the two of them, they were over $200,000 in debt.
Ray and his wife paid off over $70,000 in just one year.
A radical debt repayment strategy
Instead, he talked to each loan servicer and entered the lower-interest loans into forbearance; in other words, he paused payments on those loans.
With his other debt payments on hold, he put all of his extra money toward just one loan with the highest interest rate. When that loan was fully paid off, he tackled the next highest-interest debt, and so on.
Ray estimates that they will be debt-free by March 2020.
Enacomm Inks Reseller Agreement with Telvoyant (GlobeNewswire), Rated: B
Data intelligence and advancements in communications technologies are helping financial institutions dramatically improve the customer self-service experience. Enacomm, Inc., a leading provider of intelligent interactions and customer authentication technologies for banks, credit unions and credit card companies, today announced a new partnership with Telvoyant, a premier telecom consulting firm providing comprehensive telecom solutions for business, non-profit organizations and government institutions. Through a reseller agreement between the two companies, Telvoyant’s bank and credit union customers will be able to take advantage of Enacomm’s VPA (Virtual Personal Assistant) banking and the Enacomm Financial Suite (EFS), which includes a hosted, dynamic interactive voice response (IVR) system for personalized customer interactions.
United Kingdom
What will RateSetter look like without unsecured business lending? (P2P Finance News), Rated: AAA
Consumer loans still make up the lion’s share of RateSetter’s £2.2bn loan book, while its commercial arm – both secured and unsecured – makes up 9.8 per cent, equating to £223.4m.
Of 2,213 commercial loans in total, including those that have been paid and repaid, 1,622 were unsecured and 591 secured as of the end of last year.
But its secured loans tend to be larger. 42.5 per cent of the value of RateSetter’s commercial loan book are listed as unsecured. This represents £95.1m worth of unsecured business loans compared with £128.2m of secured business loans.
UK Federation Of Small Businesses Says AltFin Is Just Heating Up (PYMNTS), Rated: A
The not-for-profit Federation of Small Businesses (FSB) has been a vocal proponent of faster SMB payment times, greater access to more robust banking services and tighter regulation in support of small businesses across the U.K. Most recently, the FSB announced plans to join the alternative finance world and establish the FSB Funding Platform, a marketplace lending portal through which small businesses can access funding from more than 100 lenders.
The FSB’s own research on small business finance, outlined in its Q4 FSB Voice of Small Business Index, found that fewer SMBs were concerned about their access to finance in Q4 2017 than they were in the same quarter of 2016. For the first time since Q1 2012, the FSB’s credit availability index has surpassed its credit affordability index.
And yet, according to the report, small business confidence fell into negative territory, with 73 percent of SMBs reporting a rise in the cost of doing business.
Does cutting-edge technology require a new approach to insurance? (techworld), Rated: A
Digital Risks, an insurtech startup launched in 2014, focuses solely on providing insurance to startups working in the digital, media and tech space.
“We insure things like challenger banks, peer-to-peer lending, payments, medtech, teleadvice, fraud detection, cyber security software, and sharing economy businesses,” Rose adds. “The general focus is around technology.”
Digital Risks doesn’t provide insurance itself – rather, it acts as a broker between companies and a group of about 20 different underwriters.
Lendinvest backs £12m Leeds-based PRS scheme (Specialist Lending Solutions), Rated: B
The specialist property finance lender has completed a £12.5m financing deal with KMRE Group to build 111 new homes in Kirkstall, in a private rental sector (PRS) scheme.
The whole development will be managed as a PRS scheme, and was forward sold before construction commenced to a £300bn investment management group.
International
AltFiData Predicts Strong Growth for Marketplace Lending in the US in 2018 (Lend Academy), Rated: AAA
Today, leading data analytics provider for marketplace lending, AltFiData, released the total origination numbers for the UK, Europe and the USA. They are predicting solid growth for the industry in all three regions in 2018. The new loan volume for the USA in 2018 is expected be $38.9 billion, a year on year increase of 46%.
Still, I think 46% growth is a little on the high side for the four companies covered here but I expect we will get close to those numbers. Interestingly, AltFiData is expecting the UK industry to grow at 43%, slightlty slower than the USA, and Continental Europe to grow at 73% off a much smaller base.
Investing on the Mintos Secondary Market – Hint 2 – Buying overdue loans at discount (P2P-Banking), Rated: AAA
I get a result of 349 loans with various discounts and an YTM of up to 14%. Not surprising for me, many of the loans listed at the top are Mogo loans.

If these loans do pay up and then run till regular maturity date, then he recieves a yield of 12.4% to 13.8%. Decent, but not very high compared to other Mintos loans.
However there is a chance of at least 50% that these loans will default and are bought back within the next 30 days. If that happens to a loan, that a buyer bought at 0.3% discount, it will boost his yield very roughly by more 3.6% (0.3% for 30 days multiplied by 12 to get annual effect). Likely it is more because the next payment date will be less than 30 days away. But even taking 3.6% the yield will be around 17%.
The loan with the 0.6% discount would mean a boost of very rougly 7.2% yield on top (0.6*12). So that could lead to about 20% yield.
Global Venture Capital Investment Market – Top 3 Trends by Technavio (BusinessWire), Rated: A
According to Technavio analysts, the global venture capital investment market will grow at a CAGR of more than 27% during the forecast period.
The three emerging market trends driving the global venture capital investment market according to Technavio research analysts are:
- IPO market gains momentum
- Growing portion of new investments in China and India
- Increased participation from mutual funds, hedge funds, and banks in the VC market
In 2017, a lot of major startups such as Cloudera, China Rapid Finance, and Okta came up with IPOs. Most of the companies issuing IPOs were technology-focused and were software and cloud service providers.
During the forecast period, the Americas was the leading venture capital investment market with a market share of more than 56%, with the US being the leading country in the region.

Crowdfunding – Raising Billions (BW Disrupt), Rated: B
Equity crowdfunding has also become legal in countries like United Kingdom, France, Austria, Germany, Netherlands, Australia, Hong Kong and the U.S. with President Obama legalizing the equity crowdfunding by signing the JOBS Act into law.

The Crowdfunding statistics for 2017 reports a global amount raised for $34 billion, broken into $25 billion through peer-to-peer lending, $5.5 billion through reward and donation and $2.5 billion through equity crowdfunding. The projection of the crowdfunding industry is expected to grow over $300 billion by 2025.
Australia/New Zealand
Big banks, biased financial advisers, and the three tricks to avoid them (The NewDaily), Rated: AAA
This week the big banks got more bad press when the corporate regulator ASIC declared that their huge networks of financial advisers were failing to operate in the best interests of their customers.
The report, which covered the financial advice arms of the Commonwealth Bank, Westpac, ANZ, NAB and AMP, found that an astonishing 75 per cent of advice provided was not in the best interests of customers.
And in 10 per cent of cases, consumers were actually worse off than they would have been if they hadn’t got advice.
PledgeMe announces new crowdlending-inspired platform in the works (bizEDGE), Rated: A
PledgeMe has jumpstarted the year with the announcement of the launch of a new lending platform they will be offering.
The Ta Koha platform will be based on a crowdlending model in partnership with the Māori Women Development Inc (MWDI).
India
Innovative products pay off for e-lending startups (ET Rise), Rated: A
After payments, digital lending as a space is at the vanguard of innovations, driven by a clutch of startups seeking to take formal lending to a customer segment that never got easy credit from banks.
Asia
W11.2tr earmarked for midrange borrowers (The Korea Herald), Rated: AAA
South Korea’s Financial Services Commission said Thursday it plans to circulate a combined 11.2 trillion won ($10.6 billion) this year for local retail borrowers that hold midrange credit scores while having trouble finding corresponding loans.
The FSC pledged to pour a combined 8 trillion won into state-run loan products sold at banks, including those designed for refinancing. The remaining 3.2 trillion won will be spent to encourage private banking institutions to develop and sell midrange loan products this year, and the volume of support is expected to gradually increase, according to the plans.
By 2022, the government’s annual financial support for five commercial banking groups — Shinhan, KB, KEB Hana, NH and Woori — will increase by 2.5 times to 2.4 trillion won from 2017, according to the plans. Direct banks Kakao Bank and K Bank received 900 billion won in 2017, and the volume will increase by 3.5 times to 3.1 trillion won in 2022.
Africa
SelfKey Receives Regulatory Sandbox License in Mauritius (Crowdfund Insider), Rated: B
SelfKey, a blockchain-based digital identity firm, has obtained a Mauritius’ Regulatory Sandbox License (RSL), according to information provided by the company. This license will allow SelfKey to develop their self-sovereign digital identity wallet and financial services marketplace under supervision and scrutiny of the Board of Investment of Mauritius.
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