Revolut is adding a crypto spending feature; & more!
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In case you missed it, please see below today's most relevant news, or tune in to our?Daily Fintech Podcast?here .?
NEWS HIGHLIGHT
Revolut is adding a crypto-spending feature. The service will be available starting on Nov. 1, and for a limited time, customers will also be able to earn 1% cash back on all their crypto balance spent, according to a company notice. Link here
BREAKING NEWS
Visa reported better-than-expected quarterly earnings on Tuesday as more Americans took advantage of a stronger dollar to fly to international destinations and splurge on shopping and entertainment. Link here
OCC sets up a FinTech office. The US regulator, the Office of the Comptroller of the Currency, is setting up a financial technology unit to help it keep up with the rapidly changing banking landscape. Link here
INSIGHTS
European A2A Schemes Thriving. EU A2A schemes will continue to thrive and grow, expanding from their P2P and C2B e-commerce origins into use cases such as B2B and POS. Link here
Digitalisation of the customer experience in Swiss retail banking. The study confirms a resumption of the growth of digitalization on various fronts, with a gap that tends to reduce between retail banks and digital banks. Link here
European Commissioner Mairead McGuinness proposed a draft EU law requiring banks across the 27-country union to offer and receive "instant payment" (IP) services for a fee that is the same or lower than they charge for traditional credit transfers. Link here ?
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Open banking ’s inception in 2018 brought some of the biggest changes to financial services the world has ever seen. In just under five years, it has completely transformed the playing field. This has naturally led to new regulations and the creation of open banking standards—and businesses must know these inside and out.
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FINTECH NEWS
Liquid Mercury launches Liquid Mercury Plus. The tech will offer delivery of crypto trading to retail traders and investors in all 50 US states and over 60 countries worldwide. Link here
Chipper Cash launched a new card product. Funded through the Chipper digital wallet, customers can use the Chipper Card to make international transactions that require a card payment. Link here
DIGITAL BANKING NEWS
Marqeta has rolled out Marqeta for Banking. A new banking-as-a-service platform for customers. The platform boasts over three-dozen APIs and several banking-related products. Link here
BLOCKCHAIN
Mercuryo expands crypto-asset offering. They’ve integrated Fireblocks , an award-winning provider of enterprise-grade digital asset custody, transfer, and settlement technology. Link here
Lama AI scores $9 million in seed funding. Their technology empowers Banks, Fintechs and others in the embedded finance ecosystem to access to bank-rate credit opportunities. Link here
Wise grabs ￡300M in syndicate debt facility led by Silicon Valley Bank UK’s Corporate Finance team with a hold level of ￡100 million, also saw participation from six other banks but the specifics remain unknown. Link here
Onward raised $9.7 million. Onward helps co-parents track and manage shared expenses for their children. The money will help to curb finance-related fights. Link here
Mattilda raises USD 10 million. It will use the capital to grow its service. FinTech Collective praised Mattilda for its team and potential to expand throughout the rest of LatAm. Link here
This ends?Your?Daily?Fintech?News. Let me know if there are any questions or comments. Until the next!
Regards,
Marcel van Oost
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