Edition 37 | Neo Banking Newsbeat | Your Weekly Neo Banking Updates
Hey folks! Our latest edition of the Neo Banking Newsbeat newsletter is out now! Grab a coffee, sit back, and get the latest scoop in neo-banking. Take a moment to catch up on the latest updates – you don't want to miss this week's insight.
4TH WEEK OF APRIL 2024
Greetings from Neo Banking, where financial innovation knows no bounds! Welcome to our weekly newsletter: Neo Banking Newsbeat the ultimate destination for staying ahead in digital finance.
Digital Asset Neobank Keytom Launches in the UAE
Keytom, a new digital asset neobank, has launched in the UAE, aiming to streamline customers' management of digital assets. Founded in 2022, it offers crypto and USDT transactions, savings, and investments, with plans to add swaps and fiat options. The Dubai-based startup emphasizes accessibility through mobile
and web interfaces. CEO Eugene Krasicki highlights their crypto integration efforts and plans for cashback, loans, and staking. Keytom also secured licenses in Europe and Canada, signaling global expansion. This launch reflects the growing fintech scene in the UAE, alongside other innovative players like Ruya Bank.
Brazil's Digital Bank Allows Withdrawals for Bitcoin, Ethereum and Solana
Nubank, Brazil's leading digital bank, now allows customers to withdraw Bitcoin, Ethereum, and Solana through its app, expanding crypto support. This move follows earlier plans for crypto deposits and aligns with Nubank's efforts to promote digital asset adoption. The bank's innovation and crypto milestones
position it as a top financial institution in Latin America, as recognized by global rankings and Forbes. Nubank's collaboration with Paxos underscores its commitment to digital assets, with previous initiatives including trading support for Bitcoin and Ethereum in 2022.
Apple Offers to Open Up NFC Payments Access Set for EU Approval
Apple's proposal to open up NFC chip access for iPhone users' contactless payments to third-party providers is expected to gain approval from EU antitrust regulators in May. This move resolves a 2022 antitrust case, potentially avoiding significant fines. Apple's offer includes creating APIs for third-party mobile wallet
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access, operating for 10 years within the European Economic Area (EEA), and allowing payment apps outside the EEA. Despite progress in Europe, Apple faces related challenges in the US, as NFC chip access is part of an ongoing antitrust lawsuit.
Mastercard launches virtual card app to simplify travel and business expenses
Mastercard introduces a mobile virtual card app for commercial clients, with HSBC Australia and Westpac being the first banks to offer it. The app simplifies travel and business expenses, emphasizing fast, secure payments and automatic reconciliation. It leverages Mastercard's virtual card and tokenization platforms,
offering enhanced data, security, and spending controls. HSBC Australia highlights the importance of best-in-class payment solutions as mobile wallet usage grows, especially in the Asia-Pacific region where digital payments are prevalent.
Central Bank Of Oman Set to Unveil New Digital Payment Solution
The Central Bank of Oman is about to introduce a new digital payment solution through the National Bank of Oman (NBO), promising seamless transactions and enhanced security. NBO's General Manager highlights the convenience of tap-based payments via phone or smartwatch, eliminating traditional hassles. This move reinforces NBO's customer-centric approach and commitment to innovation.
The upcoming solution simplifies financial transactions for NBO and Muzn customers, offering quick, secure POS & Online transactions, and card management. The launch signifies NBO's dedication to banking innovation, inviting customers to explore the future of banking through the NBO app or self-service kiosk.
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