Technology
BitGo acquires NYDIG’s institutional trading business
BitGo announced on Thursday the completion of its acquisition of NYDIG's institutional trading business, which includes related assets and the transfer of approximately 30 employees. This move aims to meet institutional clients' demand for a one-stop digital asset infrastructure and strengthen BitGo's service capabilities in custody, trading, financing, and settlement. NYDIG, in turn, will shift its strategic focus to Bitcoin mining and high-performance computing data center operations. The transaction amount has not been made public.
VALT Bank gets FDIC’s nod
The Federal Deposit Insurance Corporation (FDIC) conditionally approved on Tuesday the deposit insurance application of VALT Bank, a fully digital bank founded by a team of former Bank of America executives. Headquartered in Eagle, Idaho, the bank had previously received conditional charter approval from the Office of the Comptroller of the Currency (OCC) in March.
ICBA CEO: ‘No middle ground’ on closing Clarity Act’s stablecoin loophole
Rebeca Romero Rainey, President and CEO of the Independent Community Bankers of America (ICBA), said in an interview that the banking industry has no room for compromise on closing the stablecoin loophole in the Clarity Act. She warned that the loophole could make stablecoins a substitute for deposits, potentially causing up to $1.3 trillion in deposit outflows and triggering an $850 billion reduction in local lending. She also responded to related questions from the White House Council of Economic Advisers and discussed communication strategies with the Trump administration and changes in the community bank regulatory environment.
Boston fintech incubator seeks funding boost
Qubic Labs, a fintech incubator in Quincy, Massachusetts, is relying on community support after expected state grants and city matching funds did not materialize. Co-founder Ian Cain stated that cash and in-kind commitments have been received, but the amounts are not yet sufficient to cover the shortfall. The organization has supported about 70 companies, raised approximately $40 million in funding, and plans to host Boston Blockchain Week from September 8 to 10.
SEC proposes crypto rules amid Clarity stall
The U.S. Securities and Exchange Commission (SEC) proposed a new regulatory framework for crypto assets on Tuesday, aiming to provide clarity for firms raising capital under federal securities laws. The proposal includes a conditional safe harbor from investment contract classification. It comes as the Clarity Act, a related congressional bill, remains stalled until lawmakers return from recess, with a vote scheduled for Sept. 15. Industry observers see the SEC move as a direct response to legislative delays.
OCC conditionally approves World Liberty to establish a national trust bank, exclusively operating the USD1 stablecoin
The Office of the Comptroller of the Currency (OCC) has granted preliminary conditional approval to World Liberty Financial's application for a national trust bank. The bank will be led by Zach Witkoff and will be responsible for issuing and managing its own stablecoin, USD1. The Trump family holds a 38% stake in the company, raising concerns over regulatory and conflict-of-interest issues.
Five AI Fundamentals Banks Must Grasp Before Their Next Technology Investment
Artificial intelligence dominates banking conversations, yet many institutions struggle to distinguish real opportunity from hype. Marquis, which serves over 700 financial institutions, identifies five essential considerations for banks evaluating AI investments: AI is not a standalone strategy; existing data holds untapped value; personalization is now a customer expectation; trust remains a competitive edge; and the biggest gains may come from internal applications. The article emphasizes measurable business outcomes, data activation, governance, and the integration of human expertise with technology.
5 things every bank should know about AI before making their next technology investment
Artificial intelligence is rapidly becoming one of the hottest topics in banking, yet many institutions still struggle to distinguish meaningful opportunities from industry hype. Based on experience serving hundreds of financial institutions, Marquis has summarized five things banks should understand before making their next AI investment: AI is not a strategy but a means to solve business challenges; the value of existing data far exceeds expectations, and the key lies in activation; personalization is becoming a customer expectation, requiring more relevant communication; trust remains the greatest competitive advantage, necessitating stronger governance and transparency; and the biggest opportunity may lie internally, as AI can connect departments to improve decision-making efficiency.
eToro to Acquire TradeZero for $231M to Expand US Presence
eToro, the Tel Aviv-based trading platform, announced a $231 million deal to acquire US-focused online brokerage TradeZero, expected to close in H1 2027. The acquisition is intended to accelerate eToro's US expansion, leveraging TradeZero's technology, Canadian market access, and engaged trader community. eToro expects the deal to be accretive to adjusted EPS in the first year post-close.
Goldman Sachs Agrees to Acquire Options-Based ETF Provider NEOS for Up to $2.25 Billion
Goldman Sachs announced Wednesday an agreement to acquire NEOS Investments for up to $2.25 billion in cash and equity. The transaction, slated to close in the first quarter of 2027, will bring $30 billion in active income ETFs under Goldman's asset management and position the bank as the eighth-largest active ETF provider, per Morningstar. NEOS co-founders Garrett Paolella and Troy Cates will join Goldman as partners.