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HSBC Shuts Down Zing International Payments App After Just One Year

HSBC Shuts Down Zing International Payments App After Just One Year

Hey FinTech Fanatic! HSBC is shutting down Zing, its international payments app, just one year after launch according to Financial News. The bank had developed Zing in early 2022 with initial plans to expand into the Netherlands followed by Singapore and the United Arab Emirates. According to a person familiar

Monzo’s Next Move: New York or London? What’s Your Bet? 👇

Monzo’s Next Move: New York or London? What’s Your Bet? 👇

Hey FinTech Fanatic! Monzo Bank is preparing for a potential IPO, with plans to be "IPO ready" by the end of this year, but faces internal discussions about the listing location. TS Anil, Chief Executive, is reportedly favoring a US listing, while the board prefers the London market

Barclays to Shut Down FinTech Accelerator Rise by Mid-2025

Barclays to Shut Down FinTech Accelerator Rise by Mid-2025

Hey FinTech Fanatic! Barclays has announced it will wind down Rise, its global FinTech accelerator program, by mid-2025. The program, launched in 2015, has produced over 120 graduates including ApTap, WealthOS, and iWarranty through its locations in London, New York, and a virtual community in India. According to a Barclays

IG Group Acquires Freetrade for £160 Million ($195M) in Major Investment Platform Deal

IG Group Acquires Freetrade for £160 Million ($195M) in Major Investment Platform Deal

Hey FinTech Fanatic! IG Group has announced the acquisition of UK neobroker Freetrade for £160 million (USD $195 million). The deal values Freetrade at approximately 5x its annual run rate revenues, based on Q4 2024 performance of £8.3 million, contributing to total 2024 revenues of £27.5 million. Since

Deribit, Valued at $4-5B, Explores Acquisition Opportunities

Deribit, Valued at $4-5B, Explores Acquisition Opportunities

Hey FinTech Fanatic! Deribit, the world's largest Bitcoin and Ether options trading platform, is working with Steve McLaughlin and Financial Technology Partners to review potential acquisition opportunities. The platform, valued between $4 billion and $5 billion, has attracted interest from various parties, though crypto exchange Kraken reportedly evaluated

Klarna Teams Up with Stripe in Global Payments Push Ahead of U.S. IPO

Klarna Teams Up with Stripe in Global Payments Push Ahead of U.S. IPO

Hey FinTech Fanatic! Klarna has expanded its partnership with fellow FinTech unicorn Stripe, making its buy now, pay later (BNPL) service available to Stripe merchants across 26 countries. This major distribution deal enhances their initial 2021 partnership formed during the Covid-19 pandemic, now offering improved functionality including A/B testing

Nu México Teams Up with OXXO to Expand Cash Access for 9M Customers

Nu México Teams Up with OXXO to Expand Cash Access for 9M Customers

Hey FinTech Fanatic! Nu México has partnered with retail chain OXXO to expand its cash deposit and withdrawal network, giving its 9 million customers access to over 22,000 OXXO stores nationwide. Cash withdrawals using Nu cards will launch on January 14, 2025, with deposit capabilities following in subsequent months.