👀 NEWS HIGHLIGHT
Obtaining a US banking licence is not on Revolut’s “immediate roadmap” but becoming a US-licenced bank is its long-term ambition, according to the fintech’s US CEO.
In a podcast interview, Sid Jajodia, the US boss of the European fintech giant, revealed details of Revolut’s progress and plans in the US market, where he says it now has close to one million customers after over two years in the US market.
📊 INFOGRAPHIC
📰 ARTICLE
Despite the heightened anticipation surrounding X, Musk hinted that the incorporation of crypto assets into the payment services seems improbable.
Elon Musk outlined his vision for the in-app payment services on X, anticipating full functionality by the “middle of next year.” However, the realization of this timeline is contingent upon the approval of various money transmitter license applications.
Stripe's Banking-as-a-Service (BaaS) is revolutionizing the FinTech sector by enabling businesses to seamlessly integrate financial services into their existing platforms.
💡INSIGHTS
Apple Savings account holders are currently receiving push notifications informing them that Goldman Sachs has raised the interest rate on the account to an annual percentage yield (APY) of 4.25% from 4.15%.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🇺🇸 NATIONAL HIGHLIGHTS
⭐️ Affirm's stock quintupled this year, beating all tech peers, on buy now, pay later boom.
⭐️ US won’t try Sam Bankman-Fried second time on additional charges.
⭐️ JPMorgan Clashes With Partly Owned Greek Fintech.
⭐️Uber for Business Modernizes Expense Management Through Integrations with Brex and Ramp.
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FINTECH
Webull goes live in Canada. The popular trading platform, announced the launch of brokerage services in Canada.
PAYMENTS
Why it’s taking so Long for Americans to Get Payments Instantly? Hundreds of banks use Fed’s new instant-payment service, but universal availability could remain a long way off.
How Google’s settlement will change in-app payments. The attorneys general painted the settlement as a win for consumers, not only because of the restitution they will receive.
The ‘Zelle Fraud’ Scam: What it is and how to avoid it. However, now cybercriminals are taking advantage of it to get people’s account information.
FedNow® Service ends 2023 on a strong note with more than 300 participating financial institutions on board. The Federal Reserve announced that it continues to show strong growth.
CRYPTO
BlackRock’s bitcoin ETF team has met 5 times with the SEC. The applicants for such funds have so far met 24 times with officials at the US Securities and Exchange Commission.
Coinbase secures crypto license in France, pushing deeper in Europe amid rift with the SEC. Paving the way for the firm to expand its services in another key European market.
DONEDEAL
Claim, a social network that lets users earn and trade rewards with friends, raises $4M. The startup is on a mission to make shopping fun, rewarding and social.
Ruth Foxe Blader soft-launches new fintech-focused venture firm. Blader has left her role as partner at Anthemis Group after nearly seven years to start her own venture firm, Foxe Capital.