Fintech PR
FDX Managing Director Don Cardinal Testifies Before Congress on Big Data in Banking and Financial Data Security
Today, Financial Data Exchange Managing Director Don Cardinal testified before the U.S. House Committee on Financial Services Task Force on Financial Technology, regarding the role of big data in financial services and the protection of consumer privacy.
In his testimony, Cardinal explained that technological innovations in financial services have empowered consumers with tools to control and understand their financial lives. The required financial data has traditionally been collected through an automatic process called screen scraping, which depends upon consumers to permission access through the use of their financial institution login credentials. Cardinal informed the Committee that FDX was formed to promote next-generation technology, moving the financial services industry away from screen scraping and toward the adoption of a common application programming interface (API) standard, the FDX API, to access consumer financial data.
Fintech apps and programs that utilize the FDX API allow consumers to log in and be authenticated directly by their own financial institutions, and then permission specific data for the chosen app. “Through broad adoption of the FDX API, screen scraping will eventually cease, while the flow of user permissioned data will encounter less friction, yet be more secure and reliable than ever,” Cardinal said. “This is the end state that everyone is working to – whether you’re a bank or brokerage, an aggregator or financial technology company.”
Cardinal pointed out that the only financial data that will be accessed with the FDX API is that which the consumer has expressly consented and permissioned to share with the specific fintech apps the consumer chooses. By defining specific use cases, the FDX API limits the collection of data to only that which is needed and consumer authorized. All use cases are guided by the Five Core Principles of Financial Data Sharing – Control, Access, Transparency, Traceability, and Security – which represent the organization’s understanding of the essential elements of a secure, transparent approach to the sharing of financial data.
The nonprofit’s membership consists of a wide range of fintech companies, local banks and credit unions, the largest financial institutions and consumer advocacy groups. The FDX API provides the framework necessary to provide scalable technology solutions so that even the smallest financial institutions are now able to offer the same fintech services and tools as the largest financial institutions at a fraction of the cost. The FDX API is royalty-free to use in perpetuity by all parties.
“FDX represents the financial services ecosystem coming together to put the consumer in the driver’s seat regarding the use and sharing of their financial data. Consumer demand for fintech apps has been the leading force behind the massive innovation that has taken place in financial services, and FDX believes the entire financial ecosystem is best positioned to ensure that these consumers are empowered and have the tools to share and use their financial data in the most secure manner possible,” Cardinal stated.
The financial services industry has been quick to adopt the FDX API standard in response to growing consumer and business demand for control over data. Earlier this month, FDX announced that the group’s membership has steadily grown through 2019 and now includes 72 members – compared to 23 at its 2018 launch. In January 2019, more than 2 million U.S. customers were empowered through the FDX API. Today, more than 5 million U.S. customers are benefiting from the FDX standard and FDX expects to have it rolled out to 8 million customers by year-end and approximately 12 million by April 2020.
SOURCE Financial Data Exchange
– spot price of precious metal increases 19% in Q1 of 2025 –
LONDON, April 3, 2025 /PRNewswire/ — Gold’s meteoric rise continues, with the precious metal setting its 21st record high of the year.
The economic uncertainty caused by Trump’s tariff assault has been a major driver of gold’s price with ‘safe-haven’ buying pushing the precious metal to an unprecedented $3170.65 per troy ounce[1]. Between April 1st, 2024, and April 1st, 2025, gold has risen $902.5 per troy ounce, equating to a 40.2% gain. The S&P 500 and FTSE 100 have posted more modest gains of 7.2% and 8.8%, respectively, over the same period, while the US Dollar Index (DXY), which measures the dollar’s strength against a basket of major currencies and typically moves inversely to gold, has declined nearly 6% since Trump’s inauguration on January 20th, 2025.
Central banks remain key players in gold’s ascent. The World Gold Council’s Gold Demand Trends: Full Year 2024 report said that central bank buying had exceeded 1,000t for the third consecutive year, accelerating sharply in Q4. It also highlighted in March that central banks remained bullish on bullion in January 2025 and had reported 18t of net purchases at the start of the year.
Paul Williams, managing director of Solomon Global, a company specialising in the secure delivery of physical gold bars and coins for private ownership, stated in March that gold at $3,500 by summer was within the realms of possibility. Goldman Sachs, in a report released on March 26th, upped its year-end gold price outlook and noted that in a tail-risk scenario, gold prices could even exceed $4,200 per troy ounce by the end of 2025.
“Gold’s soaring value is a stark barometer of global unease, reflecting deep economical and geopolitical tensions,” said Paul Williams, MD of Solomon Global. “With no relief in sight for the forces driving this surge, any significant near-term retreat seems unlikely. Even at record levels, gold demand remains robust because investors recognise the precious metal’s ongoing role as a hedge against inflation, geopolitical instability, and financial market volatility.”
For more information about Solomon Global’s products and services, visit the website at https://solomon-global.com.
NOTES TO EDITORS
About Solomon Global
Solomon Global specialises in the secure delivery of physical gold bars and coins for private ownership. The company takes a uniquely consultative approach to purchasing and selling physical gold and silver, regardless of the investment amount. Its simple and tailored strategy is designed to work with beginners and experienced investors alike.
Solomon Global’s team of experienced professionals is always available to provide practical solutions for clients – including products that are exempt from Capital Gains Tax – and assist with any inquiries.
Solomon Global was awarded ‘Most Trusted UK Gold Bullion Supplier 2024’ at The London Investor Show Awards 2024.
For any questions about buying or selling gold and silver, contact the team here: https://solomon-global.com/contact/
For further press information, please contact: Francesca De Franco on 0794 125 3135 or email fdefranco1@gmail.com
[1]Hit a peak of $3170.65 on April, 3rd 2025 (source: https://www.royalmint.com/gold-price)
[i][i] Disclaimer: This press release is for informational purposes only and does not constitute financial advice. Buying physical gold as an investment involves risk, as the value of precious metal prices can be volatile. Historical financial performance does not necessarily give a guide of future financial performance. We recommend that you conduct your own independent research and seek professional tax, legal and financial advice before making any investment decisions.
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View original content:https://www.prnewswire.co.uk/news-releases/solomon-global-gold-hits-3-170-as-central-banks-and-investors-drive-40-surge-302420096.html
Fintech PR
KuCoin Surpasses 40 Million Registered Users, Demonstrating Commitment to Compliance and Innovation
VICTORIA, Seychelles, April 3, 2025 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is proud to announce that it has surpassed 40 million registered users worldwide. This significant milestone underscores the trust and confidence the global community places in KuCoin and its commitment to providing secure, compliant, and innovative products and services.
Unwavering Commitment to Compliance
KuCoin’s growth is not just in numbers but also in its steadfast commitment to compliance and user protection. The exchange has made substantial progress on the regulatory front, including a pivotal settlement with the Department of Justice (DOJ). This agreement marked a new chapter for KuCoin, resolving past compliance challenges and setting a clear path for future operations. Additionally, KuCoin’s application for the Markets in Crypto-Assets Regulation (MiCAR) license in Austria is another testament to its dedication to adhering to global compliance standards, ensuring that it operates within the legal frameworks essential for servicing EU and EEA markets.
Trusted and Innovative Solutions Driving Growth
KuCoin has continually introduced innovative products that resonate with users worldwide. From advanced trading solutions to user-friendly platforms for new crypto enthusiasts, KuCoin has maintained a focus on enhancing user experience and expanding its service offerings, making it one of the most versatile platforms in the crypto space. KuCoin recently launched its brand new KCS Loyalty Level Program that is designed to enhance the utility of existing and new KCS holders by introducing a tiered loyalty system that rewards users based on their KCS stakings. Krazy Degen, which serves as an all-encompassing information hub focused on displaying and monitoring multi-chain trending tokens, is also a groundbreaking feature designed to transform how traders discover and invest in early-stage, high-potential tokens directly from the blockchain.
A Word from CEO of KuCoin
“Our journey to 40 million users is not just a number—it’s a testament to the trust we’ve built with our users across the globe,” said BC Wong, CEO of KuCoin. “We remain committed to delivering a secure and dynamic trading environment, with compliance as our backbone and innovation as our path forward. This milestone reflects our ongoing efforts to not only meet but exceed the expectations of our users.”
Looking Forward
As KuCoin continues to grow, the exchange remains dedicated to enhancing its services and compliance measures. With ongoing improvements in security protocols, user education, and community engagement, KuCoin is poised to keep providing exceptional value and service to its expanding user base.
About KuCoin
Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 40 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots.
KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. This recognition reflects its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence. Learn more: https://www.kucoin.com/.
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View original content:https://www.prnewswire.co.uk/news-releases/kucoin-surpasses-40-million-registered-users-demonstrating-commitment-to-compliance-and-innovation-302419886.html
AUSTIN, Texas, April 3, 2025 /PRNewswire/ — Trammell Venture Partners (“TVP”), an Austin-based venture capital firm, today announced the third annual results of its proprietary research on the growth of the Bitcoin-native startup and venture capital landscape. TVP research shows the Bitcoin startup sector continued its breakout category growth trend of forming and investing in new companies, despite the decline in total dollars invested due to the broader venture investment pullback. With a 50% year-over-year increase in transaction count, and a remarkable 767% increase in funding rounds since 2021, the Pre-Seed stage built on its prior years of growth in 2024.
TVP’s analysis indicates that early-stage, Bitcoin-native startups raised nearly $1.2 billion during the 2021-2024 period, based on four years of longitudinal data research.
“One or two years’ data might represent an anomaly, but with four consecutive years of year-over-year growth at the earliest stage of Bitcoin startup formation, the data now confirm a sustained, long-term venture category trend,” said Christopher Calicott, TVP’s managing director. “Many entrepreneurs across crypto are revisiting the Bitcoin stack as the long-term place to build their companies. It makes perfect sense: the objectively most secure, reliable, and decentralized blockchain is the obvious platform of choice, given the increasing capability to build there. And as this wave of early-stage companies find traction, increasing amounts of crypto value will accrue to the Bitcoin stack—a core thesis for TVP.”
The annual release of TVP’s Bitcoin-Native Venture Capital Landscape Research Brief augments the available research for Bitcoin startups. This research aims to support the institutionalization of venture investment for this emerging growth category within crypto and blockchain venture capital.
The TVP Bitcoin startup investment research brief is available for download.
About Trammell Venture Partners
Trammell Venture Partners, founded in 2016, is an Austin-based early-stage venture capital firm investing in Bitcoin-native, security and privacy tech, and applied AI companies. Since 2020, TVP has focused on backing founders building on the layers of the Bitcoin protocol stack via the venture capital industry’s first dedicated Bitcoin-native mandated VC fund series: The TVP Bitcoin Venture Fund series. Find out more about TVP on the web, LinkedIn, X, or find a Bitcoin job on the TVP bitcoin and crypto Jobs Board.
Media Contact: Zach Young
Email: media@tvp.fund
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View original content:https://www.prnewswire.co.uk/news-releases/tvp-research-finds-pre-seed-bitcoin-startup-investment-activity-grows-767-since-2021-302408315.html
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