FinTech Daily News – Edition 116, 18.12.2017
December 18, 2017
FinTech Daily News – Edition 118, 20.12.2017
December 20, 2017

FinTech Daily News – Edition 117, 19.12.2017

FinTech Daily News

by Florin Oprea

Edition 117, 19.12.2017

Deals, Investments & M&As

Payment Processor Total System Services To Buy Cayan For $1.05 Billion

Reuters Staff – Reuters

Total System Services said it would buy payment technology firm Cayan for $1.05 billion in cash to expand its offerings to small and mid-sized U.S. businesses.

FAO: Wow, now that’s how you end a year…

Hong Kong-Based Fintech Startup EMQ Raises $6.5m Series A

Aastha Maheshwari – Deal Street Asia

Hong Kong-based fintech startup EMQ raised $6.5 million.


LongFin Corp, A Small Fintech Stock Surged 2,600% In A Week After Announcing It’s A Crypto Company

Jeremy Herron, Camila Russo – Bloomberg (subscription)

Fintech plus cryptocurrency equals about $7 billion. That’s how much the value of LongFin Corp. surged to after the microcap’s stock rocketed by as much as 2,600% since debuting. Most of the gains came s when the company issued a press release saying it bought, “a blockchain-empowered global micro-lending solutions provider” that transacts only in cryptocurrencies.

FAO: #omgthiscan’tbetrue…

Data Centers

Equinix To Buy Australia’s Metronode Data Center Group For $791 million

Reuters Staff – Reuters

U.S. data center group Equinix said it was buying Australian data center company Metronode from the Ontario Teachers’ Pension Plan in an all-cash deal worth A$1.035 billion ($791.15 million). The deal was expected to close in the first half of 2018, subject to some conditions including regulatory approval.

Press release here.

FAO: Last week in 2017 for closing pending deals? And today’s only Tuesday…

Cap Markets & Other

Hong Kong Revamps IPO Rules To Attract Tech Listings

Cyrus Lee – ZDNet

The Hong Kong Exchanges and Clearing said it will reform the listing rules to attract blockbuster listings, a compromise made especially for innovative sectors including technology companies.

FAO: Compromise…HKEx ends a years long debate, allowing dual-class shares companies to list on their market. Means we will soon see a plethora of new tech listings in HK.

Latest Developments & Agreements

StanChart And China’s Ant Financial Sign ‘Belt & Road’ Partnership

Reuters  Staff – Reuters

London-based bank Standard Chartered and Ant Financial, the payment affiliate of Alibaba Group have agreed to collaborate in countries along China’s ‘Belt & Road’ strategic initiative.

StanChart said the two companies will work to increase access to financial services in countries along the route, without giving details on how the partnership will work.


Sandboxes Vs. Labs: Lab CFTC Offers Blueprint For Regulatory Engagement With Fintech

Todd Ehret – Reuters

Financial regulators across the globe face an enormous challenge keeping pace with the rapid evolution of technology affecting finance, financial products, and markets. Equally challenging is the need to apply rules, laws, and compliance and oversight associated with the financial industry at a time of rapid technological change.

FAO: Yeah, you’ve guessed. It discusses LabCFTC,  the innovation lab that CFTC acting chairman Christopher Giancarlo announced in May (more here).

Regulation Coming For Growing Fintech Sector

Mexico News Daily

Draft legislation to regulate Mexico’s growing fintech sector has been approved by the Senate and will be considered by the lower house in 2018. If signed into law, supporters of the bill say, it would offer legal certainty to fintech companies, increase competition and better access to banking services for millions of Mexicans.

FAO: The Mexican Senate passed the fintech bill earlier this month and has all the chances to be signed into a law in 2018.

Accelerators & Hubs

Israel And Singapore Fintech Hubs Sign MoU


The Singapore FinTech Association and the Israeli City TLV association have inked a Memorandum of Understanding to foster greater FinTech cooperation between the two communities. The MOU signed between the non-profit associations aims to bridge the two FinTech ecosystems, through cross border collaboration and initiatives

FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News