1.UK – P2P/SMEs
"The total cost of short-term unsecured borrowing from alternative lenders for most credit-worthy businesses has fallen below 9.5% since March.
Funding Xchange, which tracks the lending activity of 40 specialist SME lenders, says the average rate now beats that offered by mainstream banks with representative APRs of 9.9%.
The figures come from an 18-24 month loan which would be approved by 60% of applicants.
“I am delighted to see that by bringing transparency to the SME lending market, and at no cost to the SME, competition is driving cost of funding down to lower rates for small business borrowers,” said Funding Xchange Co-Founder Katrin Herrling.
“As economic conditions are predicted to deteriorate, funding will become a lifeline for many small businesses.”
The news is due to alternative lenders racing to reduce their rates in the face of increasing competition, but remains surprising given the fears around the economy and media coverage around peer-to-peer lenders."
2. UK – P2P
“Scottish fintech lending platform LendingCrowd and the Institute of Chartered Accountants of Scotland (ICAS), have signed a partnership that will see LendingCrowd become ICAS’s preferred partner in its Business Loans category.
The agreement means that ICAS will provide LendingCrowd with a platform to communicate to their network of member accountants about the alternatives to traditional bank lending and the many advantages it offers. LendingCrowd in turn will offer a special discount on client fees to ICAS members, which will help to support even more borrowers.”
3. UK – AltFi
4. International – FinTech
“Top crypto exchange Binance has announced the launch of a staking platform that will allow users to earn monthly rewards just for depositing and holding funds.
According to the official announcement, this new platform is going to be available as a value-added service, giving users a chance to earn “staking rewards without the need to set up any nodes or worry about minimum staking amounts, time lengths, or any other technical requirements.”
At the initial stage, the Binance platform will allow the staking of the following eight cryptocurrencies: Neo (NEO), Vechain (VET), Ontology (ONT), Stellar (XLM), Komodo (KMD), QTUM (QTUM), Algorand (ALGO), and Stratis (STRAT).”
5. International – FinTech
“Facebook’s Libra is not a threat, as it may provide enough transparency and reports about the activity, said Mark Branson, head of the Swiss regulatory body FINMA. Branson spoke about the approach to alternative finance projects during a Bloomberg event in Zurich.”
6. International – FinTech
“In late August various crypto media reported that Tether planned to issue a Chinese yuan-backed stablecoin. Bitfinex shareholder Zhao Dong told ChainNews that the stablecoin would be called CNHT and be held in offshore accounts. Zhao also said that his peer-to-peer lending platform, RenrenBit, had invested in the project.”