Daily

Daily Tearsheet: FIs getting in on crypto, and turning a card into a key with Yonder

close

Email a Friend

Daily Tearsheet: FIs getting in on crypto, and turning a card into a key with Yonder

Tearsheet provides daily summaries of the top news stories and events, like this piece, in a nifty, neat, nicely-packaged daily email. Stay informed. Subscribe here.

FIs getting in on crypto: here’s how Idaho Central did it

As interest in cryptocurrency investment grows, financial institutions have been forced to play catch up. One in five Americans have invested in crypto, and only a negligible percentage among them have done so through their primary bank or credit union, opting instead to work with digital platforms like Robinhood and Coinbase. 

Financial institutions don’t like consumers moving money out of their accounts, so more and more of them are looking for crypto enablement and keeping that business in-house.

One example of a financial institution that has made the move to crypto is Idaho Central Credit Union. Partnering with cloud-based digital banking services provider Alkami Tech, Idaho Central deployed NYDIG’s bitcoin trading solution. That enables Idaho Central members to trade in bitcoin directly on its mobile application and online banking platform. 

The primary motivator for FIs to offer crypto trading is not profit, but to get into the game before it’s too late.

Read more

The latest briefing

Marketing Briefing: Turning a card into a key

As the pandemic eases its grip on hangout spots, credit card startups like Yonder are taking advantage with a unique take on card perks.

Yonder is a London-based credit card startup that aims to provide city dwellers with a feeling of exclusivity when they pay for things. For the most part, that manifests itself in card-linked discounts for certain places across London.

CEO and founder Tim Chong sums it up by saying it’s about making the card feel like a “financial accessory” to fun city life, rather than another bureaucratic bug you need to sort out. 
For now, Yonder focuses solely on London, but the hope is to expand to other cities in the UK and eventually across Europe. 

Read more (exclusive to Outlier members)

Just look at the charts

1. The world’s first green fintech taxonomy

Source: Green Digital Finance Alliance

2. The growing importance of non-traditional financial players

SourceCarolyne Gathinji

Today’s stories

Coinbase is retracting job offers amid hiring freeze
Coinbase paused hiring two weeks ago — blaming market conditions, the crypto behemoth is extending its hiring freeze and rescinding some job offers (Finextra)

Q2 Holdings puts off sale after bids come in low 
Q2 is fielding interest from potential private equity buyers, although the final decision is still pending and Q2 could opt to remain independent (Seeking Alpha)

Affirm and Klarna ramp up competing efforts for US market
Affirm struck a deal with Stripe making its BNPL technology available to US businesses, while Klarna and Marqeta joined hands to launch a new Klarna Card in the US (TechCrunch)

US Treasury is unhappy with World Bank’s climate policy
The World Bank Group leadership is facing pressure from the US government to step up its efforts on climate change following a complaint from the US Treasury that it has not taken the required level of action (FT)

Stay ahead of the game with Outlier — Tearsheet’s exclusive members-only content program and join the leading financial services and fintech innovators reading us every day.

0 comments on “Daily Tearsheet: FIs getting in on crypto, and turning a card into a key with Yonder”

Daily

Daily Tearsheet: US consumer credit remains healthy in Q1, and how fintech lenders rose in preference for SMBs

Sara Khairi | June 27, 2022
Daily

Daily Tearsheet: Banks’ role in the climate crisis, greenwashing on Wall Street, and DataDay Conference 2022 videos

Sara Khairi | June 24, 2022
Daily

Daily Tearsheet: A day in the life of MX’s VP of product, and is the ‘Apple Pay Later’ hype warranted?

  • It's always interesting hearing about how professionals spend their time and what propels them to the top of their games.
  • Also, our new Banking on the Planet Conference and an Outlier Briefing that looks at Apple's new BNPL product.
Sara Khairi | June 23, 2022
Daily

Daily Tearsheet: Say hello to Microsoft’s alternative to Excel, Amount and Stilt on the future of lending as a service, and the SMB Brexit

  • Microsoft is recommending a new alternative to its Excel-centric PFM.
  • As Brex abandons SMBs, lending as a service is filling in the void.
Sara Khairi | June 22, 2022
Daily

Daily Tearsheet: Credit Karma’s new cash back rewards program, Money 20/20 takeaways, and the challenges of ESG reporting

  • Tearsheet's daily coverage looks at Credit Karma's move deeper into payments and rewards -- this time, with a debit card.
  • Also, ESG and our takeaways from Europe's biggest fintech conference.
Sara Khairi | June 21, 2022
More Articles