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Norwegian FinTech Settle Acquired by Sokin

Norwegian FinTech Settle Acquired by Sokin

Hey FinTech Fanatic! UK-based payments company Sokin has acquired Norwegian FinTech Settle Group AS (Settle) for an undisclosed amount. This acquisition comes at a pivotal time, following Sokin's substantial $31M funding round from Morgan Stanley Expansion Capital, highlighting the company's commitment to aggressive expansion. Settle, launched

FDIC Calls for Transparency in Bank-FinTech Deals

FDIC Calls for Transparency in Bank-FinTech Deals

Hey FinTech Fanatic! The Federal Deposit Insurance Corporation (FDIC) has extended the commentary period for its proposed rule on Bank-FinTech relationships to January 16, 2025. The rule focuses on recordkeeping requirements for FDIC-insured banks holding custodial accounts from third-party, non-bank companies. "The evolution of banking and financial services has

Where Will Revolut Choose to List?

Where Will Revolut Choose to List?

Hey FinTech Fanatic! In a revealing episode of the 20VC podcast hosted by Harry Stebbings, Revolut CEO Nikolay Storonsky addressed the much-debated question of where Revolut might choose to list. His key observation perfectly encapsulates the challenge: "The problem with the UK – if you think about the UK versus

Apple Pay Supports Fiat-to-Crypto on Coinbase

Apple Pay Supports Fiat-to-Crypto on Coinbase

Hey FinTech Fanatic! Coinbase has launched Apple Pay integration for all fiat-to-crypto purchases via Coinbase Onramp. The service enables users to convert traditional currency to cryptocurrency, with the entire process taking seconds to complete. The system includes a lightweight Know Your Customer (KYC) process for eligible purchases and provides free

Wise Implements AML Remediation Plan in Europe

Wise Implements AML Remediation Plan in Europe

Hey FinTech Fanatic! Wise has been tackling a formal remediation plan from European regulators after a 2022 review by the Belgian National Bank flagged anti-money laundering (AML) issues. According to the Financial Times, the review found Wise lacked proof of address for hundreds of thousands of customers. The company responded

SumUp Hits 1 Billion Transactions, Speeds Global Expansion

SumUp Hits 1 Billion Transactions, Speeds Global Expansion

Hey FinTech Fanatic! SumUp has hit a remarkable milestone, processing over 1 billion transactions annually across its global merchant base. The FinTech company has evolved significantly from its payments roots, with over 1 million customers now using SumUp Business Account as part of its expanded multi-product ecosystem. The company, which

Spendesk Launches Payment Institution for Mid-Sized Businesses

Spendesk Launches Payment Institution for Mid-Sized Businesses

Hey FinTech Fanatic! Spendesk has officially launched Spendesk Financial Services, its licensed payment institution regulated by the Autorité de contrôle prudentiel et de résolution (ACPR) in France. The company has established a strategic collaboration with Visa and become a principal member of the Visa network for card issuing, enabling payment