Monday , January 18, 2021

SoFi Makes a Move to Go Public and other Digital Transactions News briefs from 1/8/21

  • Social Finance Inc. said it will use the special purpose acquisition tool to become a publicly traded company. Known as SoFi, the company will merge with Social Capital Hedosophia Holdings Corp. V, a SPAC, to enter the public market. SoFi’s equity value is pegged at $8.65 billion in the deal. SoFi, which has been known for its student-lending technology, acquired payments processor Galileo Financial Technologies Inc. in April.
  • Payments provider Paymynt Financial Group Inc. said it has acquired LettucePay, a technology firm specializing in enabling cryptocurrency payments. Terms were not announced.
  • Zytara Inc., a fintech specializing in payments for gaming, has agreed to create a digital banking platform in partnership with e-sports and gaming provider Dignitas eSports LLC.
  • President Trump’s Web stores hosted by Shopify Inc. have been taken down, according to a Techcrunch report following the Jan. 6 riot by Trump loyalists at the U.S. Capitol.

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