Thredd Expands Global Footprint With New Office in the U.S.
Weekly news up to Thursday, 3rd of July 2025.
👀 NEWS HIGHLIGHT
Saudi-based payments infrastructure company Nearpay has officially launched operations in the United States, becoming the first Saudi FinTech to establish a presence in the American market.
The move is being led by co-founder Ali Mroueh with technical oversight from partner Hamzah Al Ghamdi. Nearpay plans to bring its “tap-to-phone” technology - software that turns any smartphone into a contactless point-of-sale - into a market where more than 80% of in-store card payments are already contactless.
💡INSIGHTS
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NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🇺🇸 NATIONAL HIGHLIGHTS
⭐️ Thredd Expands Global Footprint with New Office in the U.S.
⭐️ Circle applies for US trust bank license after bumper IPO.
⭐️ FinTech Bolt progresses its turnaround by landing Klarna as a partner.
⭐️ Robinhood, Kraken-Backed Global Dollar (USDG) comes to Europe.
FINTECH
LITXCHANGE to launch FinTech platform to dismantle Wall Street's "Rigged Game", launches Beta Q4, crowdfunding campaign nears $1 million goal. It is set to disrupt the $3.6 trillion per year financial industry by helping retail investors gain an edge typically reserved for institutions, avoiding market manipulation with swarm intelligence and AI enhancements.
Klarna accelerates shift to digital bank ahead of second IPO attempt. Klarna must prove to investors that it can be sustainably profitable as it prepares a second attempt to list in the US after earlier plans were thwarted in April by market turmoil linked to the US trade war.
DIGITAL BANKING
Banco Santander’s (SAN) US Unit is divesting seven branches to focus on digital banking. The divestment is part of Santander Bank’s push to become a digital-first bank. Additionally, the sale underscores Santander’s conviction that its customers will continue to receive quality service from Community Bank.
CRYPTO
Coinbase Derivatives will launch US Perpetual-Style Futures. The new Perpetual-Style Futures contracts eliminate the need for offshore workarounds, offering traders a domestic, regulated alternative with the same utility: simplified contract expirations, capital-efficient trading, long-term strategy execution, and risk management.
Bakkt Holdings files $1B shelf offering that could fuel Bitcoin buys. The company filed a Form S-3 with the US Securities and Exchange Commission, revealing its intentions to offer common stock and securities. The firm said it could issue up to $1 billion of any combination of Class A common stock.
eToro unlocks 50+ cryptoassets for US users. The company announced the continued expansion of its cryptoasset offering to U.S. users. The cryptoassets available to US users now include Cosmos, Filecoin, Hedera, Morpho, Solana, and more. Read more
Bit Digital exits bitcoin mining, pivots to Ethereum staking. The decision marks a significant realignment in its business model amid shifting economic and environmental dynamics in the crypto sector. It plans to gradually liquidate its remaining Bitcoin holdings to increase its ETH position and further fund staking operations.
Anchorage to phase out USDC, Agora USD citing risks, stirring fierce Backlash. The move came at a time when competition in the stablecoin market is heating up with global banks, payments firms, and crypto companies jockeying for position in the rapidly growing sector.
PARTNERSHIPS
Rain and Toku partner to launch real-time stablecoin payroll infrastructure. The integration enables employers to fund and settle payroll instantly in stablecoins, compliantly and at scale, across more than 100 jurisdictions. Rain's programmable payment rails connect directly to Toku's employment and tax compliance infrastructure, streamlining payroll operations for modern, distributed workforces.
GiveCard partners with Visa for better disbursements. The new collaboration will enable state and local governments, school districts, and nonprofits to rapidly implement and scale digital disbursement programs with Visa-backed prepaid cards and secure digital rails.
Jack Henry selects AI Agents from boost.ai to automate call volumes. Through this collaboration, Jack Henry plans to deploy AI agents for its contact centre clients to help enterprises unlock enhanced 24/7 self-service capabilities while remaining fully compliant.
Alibaba. com taps Balance for flexible B2B ‘Pay Later’ for US SMEs. The collaboration aims to help businesses manage cash flow and access instant credit at checkout. Under the new arrangement, Alibaba.com’s US business customers can now select Balance’s ‘Pay Later for Business’ solution when placing orders.
M&As
Envestnet is offloading Yodlee to a private equity buyer back in Silicon Valley, which values its 'trusted data access and intelligent analytics'. Under the new CEO and new owner, the Berwyn, Pa, wealth platform is liquidating the account aggregation unit and maintaining long-term license agreements
Core Scientific shares surge 33% on report of buyout talks with CoreWeave. The deal follows a previously rejected bid from CoreWeave that valued the company at less than a quarter of its current market cap. The deal would deepen a long-running partnership that includes billions of dollars in contracted commitments.