Weekly Roundup

ESG Investing
SEC Acting Chair Allison Lee noted the increase in investor demand for climate and environmental, social and governance (ESG) investing, and the creation of a new SEC website on ESG information and regulation.

“Meme Stocks”
Media coverage of the market plumbing behind “meme stocks” such as GameStop continued, with further discussion of paymentfor order flow.

Surge in Milennial Retail Investor Participation in India
Following on recent reports of surges of retail investor participation in the United States, Canada, and Asia, further reports notedincreased millennial retail investor participation in India, as well.

Source Code & Cybersecurity
Cybersecurity and protection of source code from misappropriation continued to draw attention, with recent reports of PHP’s Gitserver hacked to add backdoors to PHP source code.

Global AI in Fintech Expected to Increase to 23% Annually Through 2026
A report was released indicating that the global AI in Fintech market was estimated at $7.91 billion in 2020, is expected to reach $26.67 billion by 2026, with an continual annual growth rate of 23.17% between 2021 – 2026.

In the Mix: This Week’s Top FinTech Thought Leader

  • Anthony Noto, CEO of SoFi, launched technology aimed at allowing retail investors to buy directly into IPOs. He noted the initiative was part of a broader “continued effort to make investing more accessible, by pioneering fractional shares, offering commission-free trading, creating unique SoFi-branded ETFs, and now, IPO investing.”
  • Mohammed Al Amoudi, the backer of Crunchfish, a Swedish Fintech firm, is developing a crypto solution for mobile phonepayment in any currency including digital currency or crypto.
  • Brett Redfearn, the former head of Division of Trading and Markets, has joined the team at CoinBase.
  • Supantha Mukherjee & Anir Sen reported on the lack of enthusiasm for SPACs in Europe verses the United States. In Europe there have been 10 SPAC listings with a total value of $1.3 billion in Europe in 2020 and 2021, while in the United States there have been 522 such listings valued at $300 billion over the same time period.