Martin Chavez, global co-head of the securities division at Goldman, suggested the bank is unlikely to fully support crypto until such currencies have the backing of the U.S. government.
The venture capital firm New Enterprise Associates has led a $200 million funding round in Divvy, a business payments and expense management platform provider.
The Earnin app appears designed to look like other early wage access programs, but critics say it’s actually a payday lender and New York regulators have taken notice.
Randal Quarles, a senior Fed official and chair of the Financial Stability Board, sparked debate with a speech about the risks and rewards of companies like Amazon, Facebook and Apple entering the financial system.
The Silicon Valley partnership represents an extension of — but also a departure from — the consumer strategy that Goldman has been pursuing since the launch of its digital consumer bank, Marcus.
The credit card network has teamed up with an ICBA unit and the fintech Urban FT to offer a payments services program tailored to community banks trying to keep pace with bigger banks.
