Revolut Secures UK Banking Licence After Three-Year Battle

?? SPONSORED CONTENT

?? NEWS HIGHLIGHT

• The Swiss Financial Market Supervisory Authority FINMA today published guidance on the issuance of stablecoins .

The Swiss Financial Market Supervisory Authority FINMA published guidance on the issuance of stablecoins.

In it, it comments on default guarantees, the associated risks and discloses its practice on stablecoins. It further draws attention to the increased risks in the area of money laundering. In recent years, projects seeking to issue stablecoins have also gained in importance in Switzerland. They generally pursue the goal of providing a means of payment with low price volatility on a blockchain.

Read more

NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS

?? FINTECH HIGHLIGHTS

?? ACI Worldwide Extends Strategic Partnership with Worldpay.

?? Revolut secures UK banking licence after three-year battle .

?? Appointment of a temporary representative to supervise the activities of Kevin EU, UAB.

?? Billie becomes the first B2B BNPL payment method live on Stripe.

FINTECH

Toqio And Visa Partner To Offer Payment Solutions To Non-financial Firms. The objective is for these corporations to improve their value proposition to their distribution networks by providing them with access to greater liquidity.

YouLend partners with orderbird to launch flexible financing for hospitality businesses in Germany .

Liberis partners with Nexi to launch revenue-based financing into Germany. Nexi Financing, powered by Liberis, will provide 120,000 merchants with the flexible funding options they need to maintain and grow their businesses.

Revolut Targets Valuation Jump to $45 Billion in Sign of Fintech Revival. Revolut, already the world’s second most-valuable FinTech startup after Stripe, is in talks to sell the shares to new shareholders .

EToro adds 1000 UK stocks to trading platform. Trading and investing platform eToro is adding more than 1,000 UK stocks to the platform after enhancing its access to London Stock Exchange market data.

Weavr secures e-money licence. The licence is significant for both Weavr and the embedded finance industry as it aids the expanded adoption of embedded finance by B2B SaaS businesses.

PAYMENTS

Visa prevented $40 bln worth of fraudulent transactions in 2023. This comes as scams evolve in sophistication , with criminals using new approaches to trick unsuspecting consumers and businesses in a digitally evolving world.

Alchemy Pay Integrates Volt's Real-Time Payment Channels to Enhance Service Offerings in Europe. Alchemy Pay, the leading fiat-crypto payment gateway, is thrilled to announce its strategic partnership with Volt, the global real-time payments platform.

TerraPay enables financial institutions to send international account-to-wallet payments using Swift. This expansive reach underscores TerraPay's steadfast commitment to fostering financial inclusion and accessibility on a global scale.

Popular Polish Payment Service Blik Arrives In Slovakia. The BLIK payment involves displaying a?6-digit BLIK code in the mobile application, which is then entered into the payment form during the purchase process.

OPEN BANKING

UK open banking hits 10 million users. The milestone comes six-and-a-half years after the rollout of open banking in the UK, building an ecosystem worth more than ￡4 billion to the economy and creating around 5000 skilled digital jobs, claims Open Banking Limited.

GDS Link and Atto Partner to Power Instant Credit Decisions. The recent successful implementation of GDS Link’s multi-bureau solution with Shawbrook Bank in the UK underscores this.

TotallyMoney Launches Open Banking Insights Tool, to Help UK’s 23m Under-Served Adults Improve Their Affordability and Access Better Offers. The launch of this new feature marks the FinTech’s third open banking use case, as it advances the financial services beyond credit report data to achieve its mission of helping everybody move their finances forward.

Bankzy Open Banking launches new feature in the UK. Bankzy Open Banking, together with Payment Pros, has announced the launch of a new Payment Links solution in the UK, optimising its technology offering.

DIGITAL BANKING

Banking Circle and Fundcraft partner together on account openings. Banking Circle is one of Fundraft’s primary bank account providers and makes accounts accessible through the integration of application programming interfaces, or APIs.

UK’s Bondsmith Teams Up with abrdn to Launch Fully Integrated Cash Savings Solution. Bondsmith, which says it is empowering clients to unlock the full potential of cash with innovative financial solutions via trusted partnerships.

CRYPTO

Coinbase UK unit fined for breaching financial crime requirements. Coinbase business in Britain has been fined for breaching a regulatory agreement to improve its defences against financial crime, in the first sanction of its kind in the UK cryptoassets sector.

One Trading secures regulatory approval for European crypto derivatives trading. One Trading, a leading European crypto-asset exchange , has been granted an Organised Trading Facility (OTF) License by the Dutch financial market regulator.

DONEDEAL

London-based smart money app Plum raises €19 million Series B, on track for profitability in 2025. The investment was secured following a period of strong performance for the business.

The flexible payment startup Payflow has raised six million euros in its latest funding round . The company aims to expand across Spain, Portugal, and Latin America, where it sees potential for introducing its solutions.

bunch raises $15.5M for its platform that simplifies investment management for VCs. The startup has now raised a total of $22 million to date and claims that private funds currently manage some €2 billion worth of assets through its platform.

A new FinTech "acceleration partner" chaired by Atom and Metro Bank co-founder Anthony Thomson has added its first two portfolio companies, backing SME banking and payments firm wamo and climate-focused outfit ekko.

Pensions FinTech startup Jarvis raises ￡1.8 million seed funding. The Jarvis Pension includes both personal and workplace 'jars', allowing users to manage their pensions and contributions in one place.

Copenhagen-based FinTech startup Female Invest has raised $11.2 million as it looks to expand its education and trading offering. New funding will also go towards expanding the company's offering into the US.

European VC behind Bolt, Spotify, and Klarna backs this Quickbooks rival in $13.5M round. The funding will be used to grow the team and expand to support new customers in new verticals from e-commerce to FinTech.