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What's Happening in FinTech

A recap of fintech news brought to you by FinTech Weekly!

• Crypto's mixed signals: The cryptocurrency sector is making headlines for better and worse. The battle between the SEC and Ripple has finally ended. Bybit’s CEO addresses efforts to recover funds stolen by the Lazarus Group, but OKX to suspend DEX aggregate services over exploitation concerns. Meanwhile, Trump Media executives launch a $179 million SPAC aimed at blockchain deals, and Kraken acquires NinjaTrader in the largest crypto-traditional finance deal to date. Moreover, discussions are heating up over whether a U.S. recession could serve as the next major catalyst for Bitcoin’s growth.
• Racing toward AI: The pursuit of AGI remains fraught with skepticism, with experts questioning whether current ambitions are really useful for today's businesses.
• Fintech’s new frontiers: Israeli fintech FINQ has made history by becoming the first to secure an SEC RIA license. GCash, meanwhile, eyes an $8 billion valuation amid IPO discussions. Klarna also makes a strategic move by partnering with DoorDash to expand into the everyday expenses market.
• Political and strategic moves: Eric Trump’s appointment as a strategic advisor at Japanese firm Metaplanet reflects growing intersections between political influence and cryptocurrencies.

The Focus

The fintech industry has taken significant steps toward addressing the financial needs of low and moderate-income (LMI) households, but there remains a persistent gap between intention and impact.

Many solutions, despite being well-meaning, fail to address the fundamental realities of those living on limited incomes. Tools designed to streamline financial processes often feel more extractive than empowering, especially when concerns over privacy and usability are overlooked.

Commonwealth’s research draws attention to something critical: the potential of AI to not only enhance financial access but also to build genuine trust and provide practical, judgment-free support. This is about creating tools that actively respond to the financial realities of underserved populations, offering guidance that feels both accessible and reliable.

The promise of AI for LMI households lies in its ability to simplify processes like budgeting, credit-building, and navigating public benefits—tasks that may seem basic but are essential to financial stability. Addressing these needs effectively requires AI systems that are designed with empathy, clarity, and an understanding of what genuine support looks like.

Today, we explore Commonwealth’s research and what it reveals about making AI work for those who need it most.

Read the full story: A New Era of Financial Inclusion: Harnessing AI to Empower LMI Households - FTW Sunday Editorial

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