Citi and Coinbase have agreed to collaborate on digital asset payment capabilities for institutional clients. The companies plan to streamline how organizations move funds between fiat and digital asset platforms.Join stablecoin builders in London at the fmls25According to the announcement, their first goal targets a pain point for large organizations: moving money efficiently between fiat accounts and digital asset platforms. Enabling Access to Coinbase on and off RampsThe collaboration will focus on simplifying pay-ins and pay-outs, improving access to Coinbase’s on- and off-ramps, and introducing better orchestration for payment flows around the clock.The two firms plan to share more details in the coming months. Early discussions include exploring alternative ways to connect fiat balances to on-chain stablecoin payouts. If launched, such features could offer institutions more flexibility in settling transactions.“The financial landscape is changing fast, and we’re thrilled to join Coinbase to explore new and innovative payment options for our global clients,” commented Debopama Sen, Head of Payments, Services at Citi.“With more than 300 payment clearing networks across 94 markets globally, we see collaborating with Coinbase as a natural extension of our ‘network of networks’ approach, further supporting our clients to make payments as if there were no borders,” she explained.The collaboration builds on Citi’s broader strategy of responding to a financial environment in which clients expect real-time, 24/7 money movement. The bank has already introduced services like Citi Token Services and 24/7 USD Clearing to support round-the-clock transactions for institutional clients.Context for Citi’s Move into Digital MoneyCiti serves a large share of the global technology and e-commerce economy. The bank works with 90% of the top e-commerce companies and 15 of the 20 largest fintech firms worldwide, positioning it as a significant gateway for corporate payment innovation.If successful, this partnership could accelerate the adoption of digital asset settlement options across global enterprises. It also signals rising interest among major financial institutions in integrating digital money infrastructure, rather than building isolated solutions.Both firms intend to expand the initiative beyond Citi’s institutional clients over time, allowing more corporate users to access blended fiat and digital payment rails.Read more: Citi “Is Looking at the Issuance” of a Stablecoin: CEO ConfirmsAdditionally, Citi recently expressed interest in evaluating the potential launch of a bank-issued stablecoin as part of a broader push into blockchain-based finance, CEO Jane Fraser said. Fraser commented that the bank is also exploring tokenized deposits and crypto custody services, joining other major U.S. lenders – including JPMorgan, Bank of America, and Wells Fargo – that are assessing stablecoin opportunities.“We really welcome the administration’s willingness to allow banks to participate in the digital asset space more easily,” Fraser said, referring to President Trump’s Genius Act – a bill that introduces a regulatory structure for stablecoin issuers.She noted that a shift in the U.S. regulatory environment has made it easier for banks to pursue digital asset initiatives. She welcomed the White House’s openness to allowing banks to participate more fully in the sector. This article was written by Jared Kirui at www.financemagnates.com.

bunq has received approval from the Financial Industry Regulatory Authority to operate as a broker-dealer in the United States. The approval allows the company to expand its financial services beyond Europe for the first time.bunq to Provide Self-Directed Investing Access in the USWith this license, bunq will be able to offer access to US stocks, mutual funds, and exchange-traded funds (ETFs) to American users. The service will target individuals who prefer self-directed investing through mobile platforms.Discover how neo-banks become wealthtech in London at the fmls25“Our users roam the world – they live, work, and travel across borders,” said Ali Niknam, founder and CEO of bunq. “For many, the US is an important part of their lives. That’s why we’re excited to bring bunq Stateside and make life easy for Americans and anyone who calls it home.”Dutch fintech Bunq said it received regulatory approval for a broker-dealer license in the US, allowing the online bank to offer securities trading to customers as it expands internationally https://t.co/1fMfDgAVg9— Bloomberg (@business) October 27, 2025bunq Launches Flexible Cryptocurrency Staking Across the EUbunq marked its tenth anniversary by reaching 20 million users across Europe. At its Update 29 event in Amsterdam, the bank introduced a redesigned app to simplify access to banking, investment, and cryptocurrency services. The updated interface allows users to manage accounts, savings, payment cards, and trading options more efficiently.The bank has also launched flexible cryptocurrency staking across the European Union, in partnership with Kraken. Users can earn up to 10% annually on selected cryptocurrencies without mandatory lock-up periods. The service is available in multiple EU countries and allows users to stake assets while retaining full control to buy, sell, or withdraw at any time. This article was written by Tareq Sikder at www.financemagnates.com.

Revolut received regulatory approval to offer crypto services across the European Union today (Wednesday), adding to a string of licensing wins as the British fintech pushes deeper into regulated financial products.Revolut Wins EU Crypto License Days After Mexico Banking ApprovalThe Cyprus Securities and Exchange Commission (CySEC) granted Revolut a Markets in Crypto Assets license on Thursday, allowing the company to sell digital tokens in all 30 countries within the European Economic Area. The approval comes three days after Mexican regulators cleared Revolut to accept deposits and make loans as a licensed bank."Securing the license reflects CySEC's trust in our regulatory standards," Costas Michael, who heads Revolut Digital Assets Europe, reaveald the regulatory update via LinkedIn. "MiCA gives us the clarity to deliver trusted, next-generation crypto products for Europe's growing digital finance community."Revolut told customers it will launch what it calls "Crypto 2.0," an updated platform featuring more than 280 tokens and the ability to stake cryptocurrencies with no platform fees. The company said some staking products will offer annual yields as high as 22%, though those returns aren't guaranteed and fluctuate based on network participation.The fintech also plans to let customers convert stablecoins to U.S. dollars at a one-to-one rate without spreads, potentially making it cheaper to move between digital and traditional currencies.License Arrives as EU Enforces New RulesRevolut's authorization lands as European regulators implement MiCA, a framework that went into effect this year and requires crypto exchanges to meet standards for transparency and consumer protection. The rules forced some platforms to pause onboarding new customers while they worked through applications.The company had been preparing for months to meet the requirements. It previously migrated European crypto users to a Cyprus-based entity registered with CySEC and paused new sign-ups earlier this year to manage regulatory risk.NEWS: Revolut Secures MiCA License in Cyprus, Expanding Regulated Crypto Services Across EU— Max Karpis (@maxkarpis) October 23, 2025More than 65% of European crypto platforms are expected to comply with MiCA by the end of 2025, according to industry data. Exchanges that don't meet the standards face potential fines that regulators project could exceed €1.2 billion across the industry this year.Expansion Follows Mexico Banking WinThe crypto license extends Revolut's regulatory footprint beyond traditional banking. On Oct. 20, Mexico's National Banking and Securities Commission gave final approval for Revolut to operate as a Multiple Banking Institution, making it the first independent digital bank to complete the full licensing process from scratch in that country.¡Hola, México! ??We’ve made history as the first independent digital bank to get full regulatory approval in Mexico.We’ll soon offer a comprehensive range of financial services with enhanced customer protection and deposits by the IPAB.Join the waitlist ➡️… pic.twitter.com/Vt3I2UAPQZ— Revolut (@RevolutApp) October 20, 2025Juan Miguel Guerra, who runs Revolut's Mexican bank, commented the company will open accounts for customers on a waiting list within weeks. Revolut had nearly 200,000 people signed up as of May and projected it could reach 1.5 million customers in Mexico during the first year.The fintech is also pursuing a banking license in Colombia and working to acquire a bank in Argentina, building on operations it started in Brazil in 2023. Revolut said in September it would invest £10 billion over five years to expand into more than 30 markets and grow from 65 million to 100 million customers by mid-2027.However, Revolut faces a setback in the United Kingdom, where regulators are delaying approval of its full banking license due to concerns about the company’s risk controls amid its rapid international expansionRevolut's Cyprus operation will serve as the hub for its crypto business across the EEA, supporting the company's Revolut X trading platform and integrations with third-party wallets like MetaMask and Ledger. This article was written by Damian Chmiel at www.financemagnates.com.

The financial services sector has spent years blaming a confidence problem for keeping women out of investing. Research from eToro suggests that explanation is not only wrong, it's making things worse.Financial Industry's “Confidence Gap” Messaging Backfires on Female InvestorsAn analysis of more than 80 UK reports and campaigns published by financial companies between 2020 and 2025 found that 57% portrayed women's confidence around investing in negative terms. The reports recycled familiar phrases: women are "too nervous to invest," "unsure where to start," or "too scared of losing money." Only 21% took a different angle, highlighting qualities like patience and long-term focus that female investors bring to the table.The language matters. When eToro and research firm Appinio tested these messages on 2,000 UK women, nearly one in five said being told they lack confidence made them less likely to invest. Almost a quarter felt patronised. Another 17% said it drained their motivation."This constant negative framing is not harmless commentary, it's damaging," said Dan Moczulski, UK Managing Director at eToro. "You could argue it's an unintentional act of collective self-harm by the very industry that claims to want to support women and close the gender investment gap."Performance Data Contradicts StereotypeMultiple studies show female investors actually deliver stronger returns than men. Warwick Business School research from 2018 found women outperformed men by nearly 2% annually. Their tendency to ask questions, weigh options carefully and avoid unnecessary risks drives better outcomes, not worse ones."We don't need women to invest like men; we need them to invest like themselves," Moczulski said. "What really sets them apart is a natural reluctance to be overconfident."Women trade less frequently than men and take longer-term views, both behaviors that contribute to superior performance. What the industry labels as hesitation is often just better judgment.Positive Framing Shows Different ResponseWhen the research flipped the script, results changed. Women shown the headline "Women investors outperform men by 4%" reacted differently. Among current non-investors, 26% said they wanted to learn more about investing. Overall motivation to invest jumped 44%.But the problem extends beyond messaging to representation. In the eToro research, 41% of women said they don't relate to people who talk publicly about investing. More than half said the conversation is dominated by men, and 54% said it's mostly finance professionals.An earlier study conducted this year by eToro examined this issue: men account for 75 percent of screen time in financial media, while women are often shown in subordinate roles.Dr. Ylva Baeckström, Senior Lecturer in Finance at King's Business School, said the industry needs to change its approach. "Branding women as underconfident undermines women's excellent investment abilities," she said. "Negative gender stereotypes are both powerful and destructive, contributing to the gender investment gap."Jill Scott Joins Push to Close GapThe gender investment gap in the UK now stands at £678 billion, roughly equivalent to Switzerland's economy, according to Boring Money data published with eToro. About 3.3 million more men invest than women, and that gap widened by 200,000 people in the past year.eToro brought on Jill Scott MBE, the former England footballer, as ambassador for its Loud Investing campaign. Scott sees parallels between elite sports and investing success."In football, discipline and patience are everything," Scott said. "You don't win tournaments overnight, you build towards them over years. It's the same with investing. The industry has been too quick to focus on what women supposedly lack, when the truth is our approach is a strength."The Loud Investing initiative aims to change how the industry talks about female investors and push more women to start investing. The campaign argues that shared knowledge and open conversation about money can help close the gap, rather than recycling stereotypes that have failed to move the needle. This article was written by Damian Chmiel at www.financemagnates.com.

Robinhood has added support for Binance’s native token, BNB, giving its 27 million funded customers access to the fourth-largest cryptocurrency by market capitalization. The listing follows a sharp rally that pushed BNB’s market value to nearly $150 billion.Discover how neo-banks become wealthtech in London at the fmls25BNB’s Meteoric Rise and Market MomentumAccording to data from CoinMarketCap, BNB now trades near $1,071, securing its position as the world’s fourth-largest cryptocurrency by market capitalization. Coinbase also recently added BNB to its listing roadmap, signaling growing recognition of Binance’s ecosystem within U.S. markets.Robinhood’s inclusion of BNB extends its crypto lineup to more than 40 tokens, reflecting its broader strategy to strengthen digital asset offerings. The company processed about $8.6 billion in crypto trading volume in August, underscoring how the segment continues to anchor its revenue growth.Beyond traditional trading, Robinhood is exploring new frontiers such as tokenization and prediction markets. The addition of BNB by both Robinhood and Coinbase highlights a subtle but notable shift in the stance of U.S. exchanges toward Binance-affiliated tokens. U.S. Market’s Gradual Embrace of Binance AssetsOnce viewed cautiously due to regulatory uncertainty, BNB’s growing acceptance may signal a turning point for how American platforms approach assets connected to the world’s largest crypto ecosystem.FCA Sues Justin Sun-Linked Crypto Exchange HTX for Unlawful PromotionsAs the rally cools slightly from its recent peak, market observers will be watching whether Robinhood’s move helps sustain investor interest or if “BNB SZN” has already reached its climax.Meanwhile, reports emerged that Robinhood Markets was in talks with regulators in the United Kingdom and the European Union as it considers expanding its prediction markets business beyond the United States.Robinhood Prediction Markets just crossed 4 billion event contracts traded all-time, with over 2 billion in Q3 alone. And we’re just getting started. pic.twitter.com/13LxjqWaNt— Vlad Tenev (@vladtenev) September 29, 2025The discussions are reportedly focused on how event-based trading products could be structured in these regions, where regulatory frameworks differ significantly. In the US, prediction contracts are treated as futures products regulated by the Commodity Futures Trading Commission, while in some other jurisdictions, they are classified as gambling.The company said demand for prediction markets is growing rapidly, particularly in Europe and the UK, where Robinhood entered both markets in late 2023 and already operates its equities and cryptocurrency platforms. The firm sees these regions as key growth areas for its event trading products as retail interest in alternative investment tools continues to rise.Robinhood also recently announced that it had surpassed four billion event contracts traded globally since launching the product earlier this year. This article was written by Jared Kirui at www.financemagnates.com.

ZA Bank rolled out Hong Kong stock trading services today (Tuesday), completing its investment platform that already includes mutual funds, U.S. equities, and cryptocurrency trading. ZA Bank Hits 1 Million Users, Adds Hong Kong Stock TradingThe launch comes as Hong Kong's largest digital bank exceeded 1 million users and reported its first profit for the six months ending June 2025. The bank is marking the milestones with promotions, including waived trading fees and cash rewards totaling more than HKD 120,000.“Our launch of Hong Kong stock trading marks an important milestone in ZA Bank's mission to make investing simpler, more inclusive, and truly digital,” said Calvin Ng, chief executive of ZA Bank. “By expanding our platform, from funds and U.S. equities to crypto and now Hong Kong stocks, we're empowering individuals to take greater control of their financial futures.”Users can now trade Hong Kong and U.S. stocks, buy mutual funds, and purchase cryptocurrencies through a single mobile app. The bank is offering zero commission fees for the first 30 days after customers activate stock trading services, along with cash rewards up to HKD 500 for new accounts and rebate coupons worth as much as HKD 1,000.Fee Waivers Drive Customer AcquisitionZA Bank has saved fund investors nearly HKD 700 million in fees since launching its fund service in August 2022, according to the bank. The lender charges no subscription fees for money market funds and 0.5% for bond funds, compared with industry standard rates around 5%.The bank became the first licensed lender in Asia outside of West Asia to offer direct cryptocurrency-to-cash trading services to retail customers through its main app in November 2024. New crypto trading customers get 90 days of zero commission and platform fees.Standard brokerage fees at ZA Bank run 0.1% of transaction value with a minimum HKD 35 charge per order for stock trades.ZA Bank received its license from the Hong Kong Monetary Authority in 2019 as part of the city's push to encourage virtual banking. The bank operates as a subsidiary of ZA Global, a fintech and insurtech company founded in 2017. This article was written by Damian Chmiel at www.financemagnates.com.

The U.S. Federal Reserve may be inching toward its most significant shift on crypto access yet. Governor Christopher Waller, speaking at the Fed’s first-ever payments innovation conference, said the central bank must “embrace disruption” as it navigates the rise of digital assets and decentralized finance.Join stablecoin builders in London at the fmls25A New Model for Payment AccessWaller proposed creating a “skinny” or limited version of the Fed’s master account, which could give crypto and fintech firms direct, though restricted, access to the U.S. payment rails. These accounts would reportedly enable firms to move money without relying on traditional banks, a long-standing hurdle for the sector.Source: Federal Reserve's YouTube Channel“I have asked Federal Reserve staff to explore the idea of what I am calling a payment account,” Waller said. “Today, the Federal Reserve Bank provides access to Master Accounts services to legally eligible entities following our guidelines for evaluating accounts and the services requested.”The proposed accounts would differ from traditional master accounts in several key ways. They would not earn interest, allow daylight overdrafts, or grant borrowing rights through the Fed’s discount window. Instead, they would provide limited access with balance caps to minimize risk to the Fed’s balance sheet.Historically, access to master accounts — which enable direct settlement with the central bank- has been tightly guarded. Only federally chartered banks have qualified, with nonbanks facing intense scrutiny. Under the Fed’s current three-tiered system, the highest-risk entities, such as crypto platforms not subject to federal supervision, face the toughest review.Ripple Effect Across Fintech and DeFiWaller’s “payment account” proposal would represent a meaningful departure from this framework, opening a potential path for nonbanks and stablecoin issuers to interact more directly with the central bank’s infrastructure.You may also find interesting: Ripple-Linked Firm Evernorth to Go Public in $1B SPAC Deal Aimed at XRP PurchasesWhile the idea marks a major shift for the U.S., it is already common in other jurisdictions where nonbanks have partial access to central payment systems. Waller said this reality underscores why the Fed must evolve to remain competitive.Waller’s comments drew attention from crypto and fintech leaders, including Ripple CEO Brad Garlinghouse, who has previously criticized Wall Street’s resistance to granting such access. Ripple is among the firms seeking a Fed master account, which would allow direct participation in the U.S. payments ecosystem.For fintech companies and stablecoin issuers, a “payment account” could bridge the gap between innovation and regulation, granting limited but crucial entry into the U.S. financial core. This article was written by Jared Kirui at www.financemagnates.com.

Ebury has announced a partnership with AS Karditsas B.C., marking the company’s first basketball sponsorship. The announcement comes as Ebury, backed by Santander, is reportedly preparing to re-enter the public markets with a London listing that could value the business at around £2 billion.Ebury Highlights Málaga Tech Hub LinkThe collaboration with AS Karditsas B.C. aligns with Ebury’s efforts to expand its presence in Greece. The company said the sponsorship reflects its support for sporting activities. Ebury representatives attended a recent match against Club Baloncesto Málaga. The Spanish team is connected to one of Ebury’s offices in Málaga, which the company notes is an important technology hub within its network.Join stablecoin builders in London at the fmls25IPO Delayed, Ebury Targets 2026 ListingEbury had originally planned to list earlier this year, but the initial public offering was postponed due to market volatility linked to global tariffs. Advisers now expect the IPO to take place around the second quarter of 2026. Several banks, including Barclays, Goldman Sachs, and Peel Hunt, have reportedly been appointed to advise on the potential listing.Ebury Expands Football Partnerships Across Multiple CountriesEbury has recently expanded its involvement in professional football through several partnerships. The company was appointed the Official FX Partner of Brazilian club Botafogo, winners of the Copa Libertadores. Continuing our partnership with global fintech company, Ebury ?— Southampton FC (@SouthamptonFC) August 15, 2025Under the agreement, Botafogo will use Ebury’s financial services to manage treasury operations and support international business activities. The partnership also includes digital media collaboration, marketing rights, and LED stadium visibility during matches.In Spain, Ebury was named the Official FX Partner of C.D. Leganés. The club and Blue Crow Sports Club will use Ebury’s services to support operational and strategic growth.In England, Ebury has renewed its partnership with Southampton Football Club for the 2025/26 season, continuing as the club’s official fintech partner. Southampton will maintain use of Ebury’s international payments platform and currency exchange services for overseas transactions. Ebury’s branding will remain visible around St Mary’s Stadium. This article was written by Tareq Sikder at www.financemagnates.com.

Revolut has announced that it has obtained final regulatory approval to operate as a bank in Mexico, clearing the way for the UK-founded fintech to begin offering local financial services as it accelerates its expansion in Latin America.The authorization was granted by Mexico’s National Banking and Securities Commission, with approval from the Bank of Mexico. The license allows Revolut to operate as a Multiple Banking Institution, meaning it can now accept deposits and offer regulated banking products in the country.Join IG, CMC, and Robinhood at London’s leading trading industry event!Customized Banking App for Mexico“We are very grateful to the authorities for this vote of confidence and their commitment to fostering competition in the industry, and we are confident that our offering will benefit of millions of people across the country,” said Juan Miguel Guerra, CEO of Revolut Bank S.A., Institución de Banca Múltiple, Revolut’s bank in Mexico.“We have tailored our world-class banking app to serve customers across Mexico, while at home or abroad, and this is just the beginning,” he continued. “We will continue to innovate and launch more products to serve all our customers' needs in one place, so stay tuned!”Revolut said it will now start rolling out services to users who previously registered on its waiting list. With full banking status, Revolut will offer deposit accounts protected by Mexico’s deposit insurance agency, IPAB (Instituto para la Protección al Ahorro Bancario), for up to approximately 3.4 million pesos per customer.The company has been building local operations and continues to hire across functions in Mexico. Through its mobile app, it plans to introduce a suite of banking and money management tools.Following Expansion into Brazil and the US The approval strengthens Revolut’s presence in the Americas, following its entry into the United States and Brazil. The fintech is also seeking a full banking license in Colombia and is in the process of acquiring a bank in Argentina.Revolut said it aims to launch additional products in Mexico over time as it works toward capturing market share in a region where digital banking adoption continues to grow. Mexican residents can register for early access ahead of the public launch. Revolut did not disclose a specific launch date but said preparations are in the final stage.Even as Revolut expands its offerings globally, challenges persist on its home turf. UK regulators recently delayed Revolut’s application for a full banking license due to concerns over the company’s global risk controls linked to its rapid international expansion. The UK-based fintech received a restricted banking license from the Prudential Regulation Authority (PRA) last year as part of the standard “mobilization” phase, which allows firms to operate with limitations while preparing to meet full regulatory requirements.Under this mobilization period, Revolut is permitted to accept only up to £50,000 in total customer deposits, significantly limiting its banking operations in the UK. This article was written by Jared Kirui at www.financemagnates.com.

eToro (Nasdaq: ETOR) is localising its offerings in Australia by launching AUD accounts, interest on AUD cash holdings, direct crypto deposits, and recurring investments. The platform will also add over 200 more ASX-listed stocks.Furthermore, the US-listed company will integrate Spaceship, the investment app it acquired last year, directly into its main application. It will also offer an open banking solution to enable instant bank transfers without leaving the eToro app.Join IG, CMC, and Robinhood in London’s leading trading industry event!eToro’s Focus on Australia Becomes Prominent“As we work to enhance our presence and offerings in Australia, our goal is to provide users with the best possible investing and money management experience,” said Robert Francis, Managing Director at eToro Australia. “This includes access to a variety of global products as well as features specifically designed to meet the needs of Australian investors.”The localisation of services clearly indicates eToro’s plans to expand its footprint in Australia.Although the UK and Europe remain eToro's largest markets, with around 70 per cent of funded client accounts in these regions, between 16 per cent and 20 per cent of active funded accounts are in the Asia-Pacific, including Australia.In the second quarter of 2025, the Nasdaq-listed platform generated $210 million in revenue, which it calls “net contribution”, with an adjusted net income of $54.2 million. It ended the quarter with 3.63 million funded accounts and $17.5 billion in assets under administration.[#highlighted-links#] Capturing the Aussie MarketeToro entered Australia in 2016 and bolstered its presence in the country last year by buying Spaceship for AUD 80 million. At the time of acquisition, the Australian investment app had over 200,000 clients and managed more than AUD 1.5 billion in assets through its superannuation funds and managed investment portfolios.“Australian investors are unique and, as such, deserve specific products to fit their individual goals and investing strategies,” Francis added. “This is a key market for eToro.”The company's latest announcement further explained that Australian users of the app will receive discounts on currency conversions between AUD and USD when buying USD-traded assets. Conversion fees will start at 0.75 per cent and can be reduced to 0.15 per cent depending on the user’s eToro Club tier.Australian users can also deposit BTC, ETH, USDC, and XRP from external wallets to eToro and convert them to AUD.eToro is also expanding its crypto offerings in other regions. Last month, the platform introduced staking in the US with Ethereum (ETH), Cardano (ADA), and Solana (SOL), with plans to add more assets later. It also added instant AED funding with Middle Eastern users in mind. This article was written by Arnab Shome at www.financemagnates.com.

BNY and the National Bank of Canada went live this week with EquiLend's 1Source platform, joining the blockchain-based system designed to eliminate manual trade reconciliations in the securities finance industry.The company that offers stock lending said a global broker-dealer will begin trading on the platform soon, with several other firms close to signing on. BNY and the National Bank of Canada are now executing securities lending transactions through the distributed ledger, which maintains a synchronized record of trades between counterparties.Banks Start Trading on EquiLend's Blockchain PlatformThe industry currently spends roughly $100 million annually on reconciliation teams and fixing settlement breaks, according to estimates from industry participants. EquiLend's system is built to remove those costs by keeping both sides of each transaction aligned from the start, rather than having firms record details separately and fix mismatches later."This milestone underscores BNY's commitment to innovation and leveraging new technologies to mitigate risk," said Nehal Udeshi, Head of Securities Finance at BNY. "By using 1Source, we're aiming to manage challenges associated with manual reconciliation, while delivering benefits to our clients."For example, EuiLend’s services have been used by eToro for the past six months, allowing UK and European users to earn additional income by lending their stocks. A similar product was launched by Robinhood in 2022 and by Interactive Brokers in 2023.More Firms Preparing to Join NetworkCarl Attie, Managing Director and Head of Global Securities Finance at National Bank of Canada, said the bank joined the platform as part of its focus on technology solutions for clients. "This milestone lays the foundation for broader adoption and future enhancements, enabling us to streamline processes, increase efficiency and enhance resilience in the securities finance marketplace," Attie said.EquiLend developed the platform with Digital Asset's Canton blockchain technology, which allows multiple parties to share transaction data while maintaining privacy controls. The system launched with coverage of North American equities backed by cash collateral, though expansion to corporate bonds, non-cash collateral, and European markets is planned.Third-party analysis from Vy Solutions in 2022 estimated the platform could save the securities finance industry hundreds of millions of dollars per year through reduced operational expenses and fewer settlement failures.Platform Targets Fragmented Back Office SystemsThe securities lending market has relied on fragmented back office systems where counterparties maintain separate records of the same transactions. Discrepancies in quantities, rates, or settlement dates often surface days after trades are executed, creating reconciliation headaches and liquidity risks.EquiLend's system puts each transaction on a shared ledger where both parties see identical information in real time. Lifecycle events like recalls, rate changes, and returns are processed within the same environment, automatically updating both sides simultaneously."Each new participant strengthens the network effect of 1Source, accelerating the industry-wide benefits of improved accuracy, transparency, and efficiency," said Rich Grossi, CEO of EquiLend.The platform currently supports loan initiation, daily mark-to-market calculations, benchmark-based rate adjustments, recalls, and buy-ins. EquiLend plans to add automated rerating for large loan books tied to benchmark shifts, which should cut another source of breaks when reference rates change. This article was written by Damian Chmiel at www.financemagnates.com.

Danish challenger bank Lunar has become the first financial institution in Scandinavia to receive a Crypto-Asset Service Provider (CASP) license under the EU's Markets in Crypto-Assets regulation. The authorization covers Lunar Block, the bank's in-app crypto trading platform launched in 2022.Lunar Secures First MiCA Crypto License in ScandinaviaThe MiCA license replaces Lunar's previous registration with Denmark's financial regulator, Finanstilsynet, and extends the bank's ability to offer crypto services across the European Union without obtaining separate approvals in each market.Lunar Block operates as a closed platform within the bank's main app, allowing users in Denmark, Sweden, and Norway to buy and sell cryptocurrencies. The service is integrated with Lunar's banking infrastructure, which includes standard deposit accounts, payment cards, and business banking tools."Regulation is vital to turning new ideas into dependable services," Ken Villum Klausen, Lunar's founder and chief executive, said in a statement. "As a challenger bank, we believe in the power of innovation and that crypto assets can play a pivotal part in the digital asset landscape."Other challenger banks in Europe are also seeking similar licenses. In September, Zurich-based Sygnum obtained one, while Robinhood is expanding its services in Europe under the MiCA framework. Revolut, the largest neobank, is still in the process of applying.Nordic Neobank Expands Crypto OfferingLunar reached 1 million users in March 2025 and is processing 121 million transactions annualy, making it one of the larger digital banks operating in the Nordic region. The bank holds a Danish banking license obtained in 2019 and employs roughly 400 people across Denmark, Sweden, and Norway.The crypto platform was designed with transparent fee structures and in-app controls, according to the bank. Users can trade with minimum transaction sizes starting at 10 kroner, with pricing tied to trade volume rather than subscription tiers.One advantage of the MiCA license is passporting, which allows authorized firms to operate across all EU member states. For Lunar, this means the bank can extend Lunar Block to users in markets like Germany, France, and the Netherlands without repeating the licensing process. The bank has not, however, announced specific expansion plans yet. Moreover, it has not disclosed what share of its user base actively trades crypto through Lunar Block or how much revenue the platform generates. This article was written by Damian Chmiel at www.financemagnates.com.

The United Kingdom regulators are holding Revolut’s full banking licence in the country over concerns about risk controls related to the fintech’s aggressive overseas expansion, Financial Times reported today (Tuesday).Revolut’s Struggle to Become a UK BankThe Prudential Regulation Authority (PRA) granted Revolut a restricted banking licence last year after the startup waited for an unusual three years. However, under the “mobilisation” phase, the fintech can only hold up to £50,000 in total customer deposits.Although the “mobilisation” phase usually lasts for 12 months, Revolut has been in it for the last 14 months.Read more: Revolut Becomes a UK Bank, but What Does a 'Mobilisation' Stage Mean?The report outlined that Bank of England officials are now seeking comments from Revolut on how it plans to build its risk management infrastructure to match its ambitious international expansion plans.The goal of the PRA, which monitors how banks manage money laundering risks, is now to test the robustness of Revolut’s controls both in the UK and overseas before granting the full licence, according to “people familiar with the matter” cited by the Financial Times.[#highlighted-links#] Is Aggressive Growth a Hindrance?Revolut has around 65 million customers across about 40 countries. The UK is its largest market, with around 12 million customers. It now aims to reach 100 million customers globally by mid-2027.It has also become the most valued startup in the UK and is now seeking a $75 billion valuation.Although the fintech is struggling with its banking licence in the UK, it operates in the European Union with a Lithuanian banking licence. It has also secured a banking licence in Mexico and is seeking one in New Zealand. In addition, it has pledged to invest over €1 billion (US$1.1 billion) in France, where it intends to apply for a banking licence.The challenger bank is also eyeing the American market and is willing to acquire a local bank to secure a banking charter there.Revolut currently operates in the UK with a payment licence. If it secures a full banking licence, it will be able to put customer deposits to work just like a traditional bank.FinanceMagnates.com reported earlier that the UK fintech’s pre-tax profits for 2024 reached £1.1 billion, partly driven by cryptocurrency earnings, on global revenues of £3.1 billion.It also has an investment target of $13 billion over the next five years and plans to enter 30 new markets by 2030, including across Latin America, Asia, and the Middle East. This article was written by Arnab Shome at www.financemagnates.com.

A nearly decade-old legal battle ended with Visa and Mastercard agreeing to pay a combined $199.5 million to settle claims by merchants alleging they were left to bear the costs of fraudulent transactions involving counterfeit, lost, or stolen cards. The proposed settlement was submitted to a federal court in Brooklyn and awaits judicial approval.Join stablecoin builders in London at the fmls25Origins of the Lawsuit: Chargebacks and Merchant CostsMerchants originally filed the lawsuit in 2016, accusing the payment giants of violating antitrust laws by coordinating changes to chargeback rules. Chargebacks are reversed payments that occur when customers dispute charges, often due to fraud. The change in rules made merchants responsible for these costs unless they updated their point-of-sale systems to accept chip-enabled cards. While merchants faced higher chargeback costs, transaction fees remained unchanged, escalating their financial burden.The settlement specifies that Visa will pay $119.7 million, while Mastercard will contribute $79.8 million. Earlier, Discover and American Express agreed to pay a combined $32.2 million to resolve similar claims.None of the companies admitted wrongdoing by settling the class action. Mastercard released a statement affirming the resolution and reaffirming its focus on promoting technology to protect transactions at every stage. Visa and the merchants’ attorneys did not immediately comment.Denials of Wrongdoing and StatementsMerchant plaintiffs' lawyers described the settlement as an “excellent outcome for the class,” noting it equates to about 13% of their top damages estimate and over half of a conservative benchmark suggested by experts from Visa and Mastercard.This settlement is separate from a larger $5 billion deal that Visa and Mastercard reached in 2019, addressing allegations of improper credit and debit card fee fixing.This article provides financial and legal insight relevant to merchants and payment industry watchers alike, offering context for one of the significant ongoing antitrust settlements in the payment processing space.Earlier, Visa and Mastercard agreed to pay a combined $197 million to settle the class action lawsuit. In the initial settlement, Visa was to pay $104.6 million, and Mastercard was to pay $92.8 million. Both companies denied any wrongdoing and have not admitted liability. This article was written by Jared Kirui at www.financemagnates.com.

Ripple has entered into a partnership with Bahrain Fintech Bay to support the growth of blockchain and digital asset adoption in Bahrain. BFB is a fintech incubator in the Kingdom, working with government and private sector stakeholders to develop the local financial technology ecosystem.Ripple, BFB Launch Fintech Pilot Projects“At Ripple we look forward to working with Bahrain Fintech Bay to continue laying the foundations for a thriving local blockchain industry, as well as ultimately offering our digital assets custody solution and stablecoin Ripple USD to Bahrain’s financial institutions,” said Reece Merrick, Managing Director for Middle East and Africa at Ripple. Digital assets meet tradfi in London at the fmls25Under the agreement, Ripple and BFB will collaborate on a series of initiatives aimed at strengthening Bahrain’s digital assets sector. These include developing proofs-of-concept and pilot projects related to blockchain, cross-border payments, digital assets, stablecoins, and tokenization.The partnership will also involve educational programs, accelerator initiatives, and participation in industry events to promote collaboration and innovation.“Together, we are delivering on our goal of enhancing fintech innovation in the region,” said Suzy Al Zeerah, Chief Operating Officer at Bahrain Fintech Bay.? BREAKING: Ripple expands into Bahrain through a strategic partnership with FinTechBay to accelerate blockchain adoption and launch digital asset pilot projects.The Gulf is emerging as a key hub for the new financial era, with Ripple leading the way. ⚡? pic.twitter.com/zKuCoDyRVO— John Squire (@TheCryptoSquire) October 9, 2025Ripple Holds Over 60 Global LicensesRipple has operated in the digital asset industry for more than ten years. The company holds over 60 regulatory licenses worldwide, including one from the Dubai Financial Services Authority (DFSA) granted in March 2025. This made Ripple the first blockchain-based payments provider to receive DFSA approval. This article was written by Tareq Sikder at www.financemagnates.com.

Corpay, a provider of corporate payment solutions, announced that its Cross-Border business has signed a multi-year agreement to continue as the Official Foreign Exchange Payments Supplier for SailGP.Corpay has an active presence in sports sponsorship. It recently became New Zealand Football’s FX partner, offering currency risk management and international payment solutions. The firm also renewed its multi-year partnership with West Ham United, continuing as the Club’s Official FX and International Payments PartnerCorpay Extends FX Support for SailGPSince 2019, Corpay Cross-Border has provided a range of corporate FX payment solutions to SailGP. Under the new agreement, the league and its corporate partners will continue to use Corpay’s global payments platform and currency risk management services.Discover how neo-banks become wealthtech in London at the fmls25“Our team looks forward to continuing to support SailGP with all their FX payments needs as the league expands its presence and impact across the globe,” said Brad Loder, Chief Marketing Officer, Corpay Cross-Border Solutions.Corpay Cross-Border Extends Exclusive Partnership with Global Racing Championship SailGP https://t.co/TIShhnMHLP pic.twitter.com/G9ILx0ddSl— Latest News from Business Wire (@NewsFromBW) October 9, 2025Sports Organizations Partner with Fintechs for FX SolutionsDifferent fintech providers have increasingly partnered with sports organizations to offer FX and international payment solutions. Neo, for example, signed a five-year agreement with Club Brugge in Belgium, serving as the club’s official FX and multi-currency partner. Revolut has entered women’s football, partnering with Manchester City Women to provide financial services alongside branding opportunities.Continuing our partnership with global fintech company, Ebury ?— Southampton FC (@SouthamptonFC) August 15, 2025Other fintech companies have engaged with sports entities as well. Ebury, a cross-border payments provider, maintains a partnership with Southampton FC, supporting the club’s financial operations despite its recent Premier League relegation.Airwallex and XTrend are further examples. Airwallex sponsors Arsenal FC as its official finance software partner, while XTrend extends its role as the Argentine Football Association’s fintech partner, helping manage international transactions and FX exposure. This article was written by Tareq Sikder at www.financemagnates.com.

Binance Japan announced a new partnership with PayPay, one of Japan’s cashless payment providers. PayPay, a SoftBank Corp. group company, has acquired a 40% stake in Binance Japan.The agreement aims to expand access to digital assets and Web3 services in Japan by linking PayPay’s large user base and established payment infrastructure with Binance’s blockchain technology.Integration of PayPay MoneyIn the first stage of the partnership, Binance Japan users will be able to buy cryptocurrencies using PayPay Money and withdraw funds directly into their PayPay Money wallets. The integration is expected to create a smoother experience for customers using both traditional and digital financial services.Digital assets meet tradfi in London at the fmls25Masayoshi Yanase, Corporate Officer of PayPay, said the company’s investment reflects its plan to combine convenience and security in digital finance. Takeshi Chino, General Manager of Binance Japan, described the alliance as a step toward broader Web3 adoption in the country.??JAPAN JUST GOT MORE CRYPTO-FRIENDLY!Japan's PayPay app acquires a 40% stake in Binance Japan to expand crypto and digital payment options. pic.twitter.com/5QB5MflbEy— Coin Bureau (@coinbureau) October 9, 2025Survey Finds Web3, Crypto Adoption RisingA recent survey by Nomura Holdings and Laser Digital found that over half of Japanese institutional investors plan to invest in digital assets within three years. Among 500-plus respondents, 54% intend to allocate 2-5% of assets to crypto, citing ETFs, investment trusts, and staking as key drivers. About half also showed interest in Web3 projects. Concerns remain over counterparty risk, volatility, and regulations. The findings highlight growing institutional appetite amid Japan’s evolving digital asset framework.Nomura and @LaserDigital_ conducted a survey of over 500 investment managers in Japan on investment trends and intentions towards digital assets, and issues when considering investing in crypto assets. Click here for the full survey results: https://t.co/bJ5iDnjWqP pic.twitter.com/5BT89QWBWw— Nomura (@Nomura) June 24, 2024PayPay’s Global Expansion PlansSeparately, PayPay has been expanding beyond Japan. The company launched its payment service in South Korea in September. In August, it confidentially filed with the US Securities and Exchange Commission to list American depositary shares on a US stock exchange. The timing and size of the offering have not yet been finalized, and the listing remains subject to market conditions. This article was written by Tareq Sikder at www.financemagnates.com.

Europe’s financial sector is entering a new phase this week as the EU’s Instant Payments Regulation reaches its final implementation deadline. From October 9, banks and payment service providers (PSPs) across the bloc must be able to process and send instant euro payments around the clock and for virtually any amount.Join stablecoin builders in London at the fmls25From Ten Seconds to 24/7 ObligationsThe journey began over a decade ago with the SEPA Instant Credit Transfer scheme, which allowed euro transfers in ten seconds but capped them at €100,000. While it proved the concept of instant payments, the limit left corporations constrained—especially when handling payroll, taxes, or supplier payments.That restriction is now history. Under the new regulation, banks and PSPs must offer real-time euro transfers up to an eye-watering theoretical limit of €999,999,999.99. The European Parliament and Council’s aim is clear: make instant payments the standard, not the exception, across the bloc.The regulation’s rollout has been split into two phases. The first, effective January 9, 2025, required all EU and EEA PSPs to receive instant payments. The second, due this week, mandates that they must also send them.Related: 2 Days to 10 Seconds: Cyprus to Make Online Transfers InstantCompliance isn’t just about speed. The law demands parity in pricing with traditional transfers, strict anti-fraud protocols, and the introduction of Verification of Payee systems. These services alert users if the recipient’s name doesn’t match the account, a safeguard against authorized push payment fraud.Yet, industry insiders warn that the timing couldn’t be tighter. The European Payments Council only published its directory of VoP partners in May, leaving many vendors scrambling to test and integrate the technology.The Liquidity TightropeHowever, the removal of the €100k ceiling introduces a new risk—liquidity management. Banks must now operate on a continuous cycle, ensuring funds are available even at midnight on weekends. According to the regulator, instant payments remove the window that banks once had to screen transactions. Fraud teams now have five seconds to verify a payee before a payment clears.Under the regulation, PSPs must also conduct daily sanctions checks to ensure that none of their clients are on restricted lists, a move designed to maintain security without slowing down transfers.One of the institutions already complying with the directives is the Bank of Cyprus. It announced today that it will fully enable instant euro transfers, allowing customers to send and receive funds across Europe in just 10 seconds, any time, day or night.Banks were required to overhaul their internal systems to meet the regulation’s technical and security standards. These upgrades include stronger fraud prevention, real-time error detection, and verification tools designed to protect customers. This article was written by Jared Kirui at www.financemagnates.com.

Deutsche WertpapierService Bank (dwpbank) completed its purchase of Berlin-based fintech lemon.markets on September 30 after receiving clearance from Germany's financial regulator, the companies said today (Wednesday)dwpbank Closes lemon.markets AcquisitionThe transaction adds a digital brokerage platform to dwpbank's traditional custody services, allowing the combined entity to serve clients ranging from established financial institutions to newer fintech players. dwpbank oversees €2.2 trillion in assets under custody and processes securities transactions for roughly two-thirds of German banks.lemon.markets operates an API-based platform that financial companies use to offer stock and ETF trading to their customers. The Berlin firm holds a BaFin investment license and counts fintechs including Pleo, Holvi, Optio and Tomorrow among its clients.Both companies will keep their names and go-to-market operations separate while coordinating on technology development. dwpbank's existing WP3 platform handles complex custody requirements across multiple asset classes and trading venues, while lemon.markets focuses on streamlined services like fractional share trading and automated workflows."There is no such thing as a 'typical' securities customer, today's investor landscape is highly heterogeneous," said Kristina Lindenbaum, executive board member at dwpbank responsible for client and digital transformation. "It ranges from first-time investors who prefer a reduced scope of services to institutional investors with demanding requirements for their custody and investing experience."The approach mirrors a broader industry shift as traditional custodians attempt to capture business from digital-first competitors that have gained ground with younger investors and cost-conscious users. Neo-brokers have pressured established players on pricing while introducing features like real-time settlement that legacy systems struggle to match.Technology Push Meets Regulatory Needsdwpbank manages 5.3 million securities accounts and processed 53 million transactions last year. The bank's clients include cooperative banks, private banks and savings institutions across Germany's three-pillar banking system.lemon.markets raised €28 million since its 2020 founding, including a €12 million round last year led by CommerzVentures. The company received its investment firm license from BaFin in 2023, authorizing it to handle activities from contract broking to portfolio management.Max Linden, founder and CEO of lemon.markets, said the company would maintain its pan-European focus. "Our focus remains on providing the leading Brokerage-as-a-Service platform for banks, asset managers and FinTechs," Linden said. "Together with dwpbank, we are actively shaping the securities market."The move comes after the fintech last year partnered with major banks BNP Paribas and Deutsche Bank to launch its Brokerage-as-a-Service product.The dwpbank group now consists of the parent bank plus three subsidiaries: lemon.markets, dwp Service GmbH, and dwp Software Kft. dwpbank is classified as a systemically important institution under German banking regulations. This article was written by Damian Chmiel at www.financemagnates.com.

Polish authorities have placed Marcin Pióro, CEO of currency exchange platform Cinkciarz.pl, on Interpol’s Red Notice. He faces charges of fraud and money laundering linked to client losses exceeding 125 million złoty (about $30 million).Accused of fraud and large-scale money laundering, the executive is now among the world’s most wanted for allegedly causing investor losses.Discover how neo-banks become wealthtech in London at the fmls25Charges and Investigation TimelineThe Poznań Regional Prosecutor’s Office initiated an investigation into Cinkciarz in October 2024 after receiving thousands of complaints from customers unable to access their funds. By March 2025, formal charges, including fraud, were filed against Pióro and several key company figures.The allegations claim that Cinkciarz clients suffered significant financial damage, as their deposits were apparently misused to fund other business ventures. The investigation intensified after a police raid on the company headquarters in Zielona Góra and the freezing of over 300 bank accounts related to the platform.Despite the gravity of the accusations, Marcin Pióro denied all wrongdoing. Yet Polish courts have issued arrest warrants and moved to detain him pending trial, noting that if convicted, the potential penalty could reach up to 25 years in prison. Wider Impact on Polish Fintech TrustCinkciarz.pl, once a popular exchange founded in 2006 amid Poland's foreign currency boom, grew to generate billions in annual revenue. While the platform did not trade cryptocurrencies, financial observers highlight the scandal as a stark reminder that trust in financial services can be shattered rapidly. Polish authorities have reportedly detained other executives connected to Cinkciarz, including a board member and the company’s chief accountant, both facing charges of complicity in fraud. Additionally, the Financial Supervision Authority revoked licenses for related entities and blocked associated bank accounts.Keep reading: Cinkciarz.pl CEO Fraud Charges Expand to 150 Million as Court Rejects Appeals, Upholds Account FreezesThe Poznań Regional Prosecutor’s Office recently announced that it had revised its indictment to include additional victims and new evidence. Authorities now estimate the financial damage to be more than 125 million zloty, or roughly $31 million, as more individuals step forward, claiming losses tied to the collapsed foreign exchange platform.Pióro, who reportedly fled Poland after the probe began last October, has used social media to contest the allegations, accusing prosecutors of misconduct and misrepresentation. This article was written by Jared Kirui at www.financemagnates.com.