JAM FINTOP announced the hiring of Stephen Schroder to help source, diligence and monitor companies for the recently launched JAM FINTOP Blockchain fund. He will also engage with the JAM FINTOP Network to identify areas of interest in blockchain innovation for regulated financial institutions. JAM FINTOP Blockchain invests in infrastructure, on-ramps and businesses that will help regulated financial services companies leverage blockchain for real world use cases.

JAM Special Opportunity Ventures (JSOV), an affiliate of Jacobs Asset Management (JAM), and FINTOP Capital announced the first closing of JAM FINTOP Blockchain (the Fund) at approximately $110 million. The Fund also has additional commitments that scale up to $30 million as the fund reaches its $200 million cap. Initially, the Fund will focus its investments on the blockchain “infrastructure layer” that will help regulated financial institutions compliantly operate blockchain-powered applications in areas such as lending, payments and exchanges.

JAM Fintop, a New York joint venture between JAM Special Opportunity Ventures and Fintop Capital, is forming a consortium of banks that will develop rules for minting and transferring USDF.

Blockchain startup Figure Technologies Inc. and other firms held talks with U.S. regulators about how to issue a stablecoin that satisfies watchdogs amid deep Washington skepticism over the fast-growing corner of the cryptocurrency market...[The USDF Consortium] is also backed by JAM FINTOP, a partnership of JAM Special Opportunity Ventures -- an affiliate of financial-services investor Jacobs Asset Management -- and financial-technology firm Fintop Capital.

“It’s like having a phenomenal research team at your disposal to help educate you on emerging trends,” said Farhan Yasin, chief technology officer of the $11 billion-asset Busey Bank in Champaign, Illinois, which is one of the limited partners of the Banktech fund.

The National Black Bank Foundation (NBBF), a racial justice nonprofit working to ensure communities of color can access capital and build wealth through a robust Black banking sector, and JAM FINTOP, a joint venture between Jacobs Asset Management and FINTOP Capital that endeavors to accelerate technology adoption at community banks across the country, announced today a strategic partnership and the formation of a new Minority Depository Institution (MDI) Innovation Committee.

The USDF Consortium is actively developing standards and practices for banks to mint USDF. USDF is being designed to deliver a safe and sound mechanism for transferring value on blockchain that addresses the concerns that currently exist with stablecoins minted by private companies.

NYCB and Figure also announced that they will invest in the JAM FINTOP Blockchain fund, which will invest in and develop blockchain infrastructure and businesses. Figure's team will also serve as advisors to the fund, including Mike Cagney leading JAM FINTOP's Blockchain Committee and June Ou, Figure's Chief Operating Officer, serving as Technical Advisor.

In this role Matt will engage with banks and tech companies to understand the opportunities, challenges and pain points they face. He will also manage programming and facilitate connections between banks and innovators with the goal of helping banks provide the best experience for their customers.

Kelley, a former bank equity research analyst who later moved to sales positions at Piper Jaffray Cos. and most recently Stephens Inc., said he is joining Jacobs Asset Management LLC to become director of the JAM FINTOP bank network starting May 17.

JAM Special Opportunity Ventures, an affiliate of New York based-bank investor Jacobs Asset Management, and Nashville-based technology investor FINTOP Capital announced the joint raise last month, which will plow Series A funding into startups that cater to community banks.

A new fund, built in partnership between a fintech investor and bank investor, brings capital from community banks to tech firms.

JAM FINTOP Banktech, a $150 million investment fund designed to help accelerate technology adoption at community banks, announced that the Independent Community Bankers of America (ICBA), which represents community banks through advocacy, education and innovation, will serve as a strategic advisor.

For the 66 banks participating in the investment vehicle, the start-ups present both a return-on-investment opportunity and a potential upgrade for their own digital offerings. The banks will act as limited partners in the $150 million fund.

But this isn’t your typical investment fund. Its 66 limited partners are all community banks that have more than $600 billion of combined assets, according to the news release.

Several dozen banks have invested in a $150 million fund created to provide capital to fintechs.

JAM Special Opportunity Ventures (JSOV), an affiliate of Jacobs Asset Management (JAM), and FINTOP Capital announced the closing of JAM FINTOP Banktech, a $150M investment fund designed to help accelerate technology adoption at community banks across the United States.