Chime Files for Nasdaq IPO
Weekly news up to Thursday, 15th of May 2025.
👀 NEWS HIGHLIGHT
Financial technology company Chime on Tuesday filed paperwork to go public on the Nasdaq. The company intends to file under the ticker symbol “CHYM.”
“Chime is a technology company, not a bank,” the company said in its prospectus, noting it is not a member of the U.S. Federal Deposit Insurance Corporation. Still, the company cited Bank of America, Capital One, Citibank, JPMorgan Chase, PNC Bank and Wells Fargo as competitors.
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NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🇺🇸 NATIONAL HIGHLIGHTS
⭐️ eToro to go public Wednesday, pricing IPO at $52 $2 above range in key test for market.
⭐️ Cleo and Paystand Team to Automate B2B Payments.
⭐️ BofA to Open 150 Financial Centers by 2027, Investing Over $5 Billion in its Network Since 2016.
⭐️ BitGo and Upexi Announce Strategic Partnership to Secure Digital Asset Treasury Holdings.
FINTECH
Hong Kong crypto investor Animoca plans US listing as Trump lures more groups. This regulation of digital assets offers a “unique moment” to enter the world’s largest capital market. The listing was unlikely to depend on market conditions, the Executive Chair, Yat Siu, added.
Stripe’s billionaire Collison brothers say remote work solves the ‘two-body problem’ faced by working couples. Stripe has been a rare holdout against a broader remote-work pullback, with an estimated 40% of employees working remotely. Its cofounders have resisted landing firmly on either side of the debate, though, indicating it should be down to the context of each company.
PAYMENTS
US BNPL transactions hit $175 billion amid shifting consumer demands. The report, “Pay Later Revolution: Redefining the Credit Economy,” highlights this evolution, detailing an ecosystem where traditional banks, nonbank lenders, and FinTech startups are both competing and collaborating to offer flexible financing solutions.
DIGITAL BANKING
Chime Enterprise launches PayTV™, providing a purpose-built, real-time employee pay visibility solution for payroll. PayTV offers users visibility and predictive insights into their employees' payment status, eliminating the black box that's traditionally kept payroll teams in the dark and helping prevent potentially costly payroll errors.
CRYPTO
Coinbase to launch 24/7 Bitcoin and Ethereum futures trading. Traders can access crypto futures around the clock, including weekends, offering constant execution and risk management capabilities. This development arrives after Coinbase announced its $2.9 billion acquisition of crypto derivatives exchange Deribit.
Coinbase is joining the S&P 500 days after bitcoin soared past $100,000. To join the S&P 500, a company must have reported a profit in its latest quarter and have a cumulative profit over the four most recent quarters. Last week, it reported net income of $65.6 million, down from $1.18 billion.
Crypto Giant wants to seize the opportunity for a US IPO. The realization of Coinshares' long-held plans to list its shares on a US stock exchange is now moving closer thanks to more crypto-friendly regulation. The company explained how it is preparing for this when it presented its quarterly figures.
PARTNERSHIPS
Rollee and AIprise partner to expand access to high-quality Income and Employment data. By naming AIprise as a strategic distributor of its API, the company is strengthening its presence in the U.S. and unlocking new opportunities to serve a broader range of FinTech innovators.
Bakkt Inks deal with DTR to become a crypto and stablecoin infrastructure provider. A pivotal alliance with Distributed Technologies Research aims to integrate AI and stablecoin payment infrastructure, positioning Bakkt at the forefront of agentic commerce and programmable money, with products expected by Q3 2025.
DONEDEAL
eToro IPO 10x oversubscribed; expected to raise over $500M at $4B+ valuation. The underwriters of the IPO, led by Goldman Sachs and Jefferies, notified participants in the Israeli FinTech company's roadshow that they will no longer be accepting new orders.
Stash raises $146M in series H funding. The company intends to use the funds to accelerate product innovation, drive subscriber growth, and further develop AI capabilities. The round was led by Goodwater Capital. Continue reading
Addepar raises $230 million at $3.25 billion valuation in series G investment round. The proceeds from its Series G financing will primarily be used to provide liquidity to employees and other investors through a tender offer, allowing them to realize the value of their contributions.
M&As
Anchorage Digital to acquire Mountain Protocol. The acquisition will integrate the Mountain Protocol team, technology, and licensing framework into Anchorage Digital to expand Anchorage Digital’s stablecoin capabilities. Read more
SavvyMoney acquires CreditSnap to boost digital lending and onboarding solutions. The acquisition aims to expand SavvyMoney’s platform capabilities, reinforcing its mission to offer a unified, digital-first financial experience. The move is positioned as a major step in enhancing both companies’ offerings for financial institutions seeking scalable, integrated solutions.
Robinhood To Acquire WonderFi. This strategic move aims to expand Robinhood's presence in the Canadian crypto market and enhance its international offerings. WonderFi will continue to operate its products after the acquisition closes.