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.

eToro UK doubled its profit last year as trading activity picked up sharply in the final quarter, driven by renewed interest in cryptocurrency markets and heightened political developments that brought retail investors back to the platform.The fintech reported net profit of $6.0 million for 2024, up from $2.5 million a year earlier, according to financial statements filed with Companies House. Revenue climbed 41% to $177.7 million from $125.7 million in 2023."2024 opened with the strongest start for eToro since 2021, driven by renewed optimism amongst retail investors," the company said in its business overview. "Trading activity dipped mid-year due to macro-economic uncertainty, however momentum returned decisively in Q4, boosted by political developments and a strong crypto bull run."eToro UK’s Revenue Growth Outpaces Expense IncreaseTrading commissions, the company's largest revenue source, rose 38% to $145.9 million in 2024 from $106.0 million the prior year. The growth came with higher costs, however, as trading expenses more than doubled to $9.9 million from $4.3 million. Other commissions, which include fees from marketing services and currency conversion charges, jumped 77% to $24.0 million.Administrative and operating expenses climbed 38% to $171.3 million from $124.3 million. The bulk of that figure consisted of intercompany fees paid to related entities within the eToro group, which totaled $141.8 million, up from $97.7 million in 2023. Staff costs reached $9.0 million, compared with $7.9 million the previous year.In March 2025, two months before its IPO, eToro released full-year results for the entire group, showing that profits had increased thirteenfold and that cryptocurrency accounted for 38% of commission income. However, the report did not provide a breakdown of revenue by the fintech’s individual subsidiaries.Related: eToro Shares Drop Widens to 40% Since May IPOKey Financial Metrics 2024, eToro UKBalance Sheet Strengthens Amid Market GrowtheToro UK's financial position improved substantially over the year. Cash and cash equivalents more than doubled to $53.2 million from $25.0 million, while total assets grew to $79.8 million from $68.1 million. The company's equity base expanded to $47.8 million from $41.3 million, reflecting both the profit generated during the year and ongoing share-based compensation programs.Amounts due to related parties increased to $25.8 million from $21.4 million, while receivables from related entities fell sharply to $126,494 from $27.2 million as the company settled intercompany balances.The firm held $472.1 million in client money as of Dec. 31, up from $320.5 million a year earlier, with most of those funds placed with banks including JPMorgan, J Safra, and BlackRock. Client custody assets under the company's fiduciary care totaled $1.77 billion, largely held through eToro Europe Ltd and Interactive Brokers.eToro UK operates through execution arrangements with eToro Europe Ltd, a Cyprus-based affiliate regulated by the Cyprus Securities and Exchange Commission, which acts as the primary execution venue for client trades. The UK company serves as prime custodian for clients holding real equity positions.Recent Platform DevelopmentseToro has rolled out several product updates over the past two months despite trading near historical lows on Nasdaq since its May listing (NASDAQ: ETOR). The publicly traded fintech has focused on expanding services across multiple jurisdictions to attract new users.In late September, the company launched cryptocurrency staking for US customers, allowing them to earn monthly rewards on Ethereum, Cardano, and Solana holdings. Around the same time, eToro partnered with Lean Technologies to enable instant bank transfers in United Arab Emirates dirhams. The integration allows UAE users to link their local bank accounts directly to their eToro accounts, processing deposits within seconds without requiring users to leave the app or manually enter payment details.About a two weeks earlier, eToro Europe Ltd received regulatory approval to offer crypto asset services directly in Germany under the Markets in Crypto-Assets Regulation (MiCA). Following this approval, all crypto trading for German clients now processes through eToro EU, replacing the previous arrangement that used DLT Finance as an intermediary for trading services on the platform.Read also: This article was written by Damian Chmiel at www.financemagnates.com.

Swift is building a blockchain platform to modernize international payments amid growing competition from stablecoins. According to the Financial Times, the payments cooperative has joined forces with banks such as Bank of America, Citigroup, and NatWest to create a blockchain that enables instant, continuous transaction validation across borders.Join stablecoin builders in London at the fmls25This move is designed to streamline global transfers and reinforce Swift’s role in a digital payments landscape increasingly dominated by stablecoins.Swift’s Blockchain Project Responds to Stablecoin PressureStablecoins, digital assets pegged to fiat currencies, have surged in popularity, offering low-cost, direct transfer options outside traditional banking channels. The sector, estimated at $300 billion, threatens established payment networks by eliminating intermediaries and reducing transaction times. Swift’s response is to implement a blockchain that can sequence, record, and verify tokenized transactions, including stablecoins, using smart contracts to enforce transaction rules.Swift has partnered with Consensys, a blockchain technology firm led by Ethereum co-founder Joseph Lubin, to develop and test the new shared ledger.Related: Coinbase to List First Singapore Dollar Stablecoin in Collaboration with StraitsXThe prototype will undergo trials with participating banks to determine suitable currencies and transaction corridors for initial rollout. The collaboration signals a significant step for Swift in embracing blockchain technology for mainstream banking operations.Banking Sector’s Digital Token StrategyThe push for blockchain comes as regulators and banks globally explore digital currencies. Recent US legislation introduced in July regulates stablecoins closely, prompting banks, including JPMorgan Chase and Citigroup, to consider issuing proprietary stablecoins.Meanwhile, nine European banks, led by UniCredit and ING, reportedly plan to launch a euro-backed stablecoin by mid-2026, aiming to offer an alternative to dollar-denominated digital tokens.Alongside blockchain development, Swift is working to enhance payment transparency with new measures to guarantee fee predictability and instant settlement for retail transactions. These changes respond directly to stablecoin attributes, which prioritize speed and low cost. They provide users with full transaction value and clarity on pricing.The popularity of stablecoins is on the rise even as the regulations catch up. Recently, the Australian Securities and Investments Commission introduced temporary licensing exemptions for intermediaries that distribute stablecoins issued by licensed entities.The intermediaries distributing stablecoins issued by an Australian financial services licensee are reportedly not required to obtain their own AFS, market, or clearing and settlement facility licenses. This article was written by Jared Kirui at www.financemagnates.com.

Shares of eToro (NASDAQ: ETOR) closed at new all-time lows yesterday (Wednesday), slipping 5.35% to end the day at $39.06. The stock has now dropped over 40% since May’s debut and trades visibly below its initial public offering (IPO) price of $52.The declines most likely came in response to an updated recommendation from Mizuho analysts, who lowered the price target.eToro Shares Slides to Record Lows Despite Tech RallyThe decline came on a day when the Nasdaq Composite, weighted heavily toward technology companies, rose 0.49% to finish above 24,800 for the first time ever. That divergence highlighted the recent pressure on eToro’s shares, even as broader sector momentum remains strong.Mizuho lowered its price target for eToro to $65 from $80, pointing to weaker trading activity per account and a lower take rate. Still, the bank maintained an “Outperform” rating, noting longer-term opportunities around tokenized stocks,Other brokerages have trimmed estimates but vary in their stance on the stock. KBW cut its target to $60, Jefferies moved to $63, and UBS reiterated a Neutral rating with a $58 target. At the more bullish end, Citizens JMP reaffirmed its “Outperform” rating with an $85 target.Stock Extends Slide Since IPOeToro debuted on Nasdaq in May at $52 per share before opening its first day of trading at $69.69. After initially gaining attention with investor excitement around trading platforms, the stock has steadily trended lower. At Wednesday’s close, it is now 44% off its first-day opening level.In the second quarter alone, the company’s shares fell 38%. By comparison, other publicly listed retail trading firms performed much better. Nasdaq-listed Robinhood climbed 53% to a record high above $143, while Interactive Brokers gained 24%, also testing new records above $70.On the London market, CMC Markets dropped 5% to just under 240 pence, while Plus500 fell by a similar margin, retreating from an all-time high of 3,492 pence.In Warsaw, XTB posted a sharper 12% decline, though the stock still trades near record highs, unlike eToro, which remains closer to its lows.eToro’s chart performance could improve with the upcoming Q3 report, though investors will have to wait a bit longer, as it is scheduled for release in early December.Read other eToro-related stories: This article was written by Damian Chmiel at www.financemagnates.com.

Robinhood Markets is examining a possible expansion of its prediction markets product outside the United States. The brokerage has opened discussions with regulators in the UK and Europe to tap rising demand for event-based trading, Bloomberg reported. The company has reportedly been speaking with the UK’s Financial Conduct Authority (FCA) about how prediction markets could be structured locally. In the US, such contracts are treated as futures products and fall under the oversight of the Commodity Futures Trading Commission. In other jurisdictions, regulators often classify them as gambling.Discover how neo-banks become wealthtech in London at the fmls25Rising DemandRobinhood reported that global interest in prediction markets is growing, particularly in the UK and Europe. The firm entered both markets in late 2023 with its equities and cryptocurrency platform. Since adding prediction markets earlier this year, Robinhood has brokered more than four billion event contracts, according to Chief Executive Officer Vlad Tenev. Tenev shared the milestone in a post on X this week. Shares of Robinhood rose more than 12% after the announcement and traded up about 3% to $140 on Tuesday.Robinhood announced it has crossed 4 billion event contracts traded all-time, with Tenev revealing that more than $2 billion in contracts were registered in the third quarter alone.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 fintech giant partners with Kalshi and ForecastEx to provide prediction markets in the US, with both platforms being regulated by the CFTC. Expansion abroad would now require adapting to local oversight rules. The firm is also screening which markets to list.Competitive LandscapePrediction markets surged in popularity during the 2024 US presidential election, when platforms like Kalshi and Polymarket saw billions of dollars in trades. The sector has since expanded into sports, economics, and asset price volatility.Related: Robinhood's Prediction Markets Cross 4 Billion Contracts All-Time, CEO SaysHowever, competition is increasing. Polymarket has reportedly acquired an exchange to serve US customers. FanDuel and Underdog have also entered the space through partnerships, while CME Group said in August it would consider sports-related prediction markets if its partner FanDuel offered them.Robinhood’s push overseas may help it gain share as the US market becomes more crowded. The final hurdle will depend on how regulators abroad classify prediction markets. This article was written by Jared Kirui at www.financemagnates.com.

Polish prosecutors have expanded fraud charges against Marcin Pióro, the fugitive CEO of currency exchange platform Cinkciarz.pl, with alleged damages now exceeding 125 million zloty ($31 million) as more victims come forward.The Poznan Regional Prosecutor's Office announced yesterday (Monday) it had amended and supplemented charges against the executive, who remains the subject of an international manhunt after fleeing Poland during the investigation that began last October.Cinkciarz.pl Fraud Charges Expand to $31MProsecutors continue analyzing evidence to include all individuals who have reported losses from the collapsed currency exchange platform. The office said it expects additional victims to be aCdded to the case as the investigation progresses.The executive has attempted to undermine the investigation through social media posts, claiming prosecutorial misconduct and manipulation.“With full responsibility, I hereby declare that the actions undertaken by the Polish law enforcement authorities, in particular the Regional Prosecutor’s Office in Poznań, are based on false premises and untrue allegations suggesting that I was hiding or acting unlawfully,” Pióro commented. “These claims lack any factual or legal basis, and their repetition constitutes a deliberate element of procedural manipulation.However, investigators dismiss these efforts as attempts to deflect responsibility for the alleged crimes.“The Regional Prosecutor's Office in Poznan categorically denies all allegations of forgery and manipulation directed by suspect Pióro through social media against prosecutors conducting the investigation,” a spokesperson for the prosecutor's office said. The office views the executive's media activity as “an attempt to shift responsibility away from himself for the aforementioned alleged crimes.”Court Rejects Appeal AttemptsA Zielona Gora district court dealt another blow to the embattled companies last week, upholding bank account freezes for Cinkciarz.pl, Conotoxia, and Conotoxia Holding in separate rulings on September 19 and 24.The court rejected appeals from legal representatives of the companies and Pióro, who serves as board president of all three entities. Judges found the account freezes were conducted lawfully and remained justified given the ongoing investigation.The rulings keep hundreds of frozen accounts locked as prosecutors work to trace client funds and prevent further asset transfers. Poland's Financial Supervision Authority (KNF) originally revoked payment licenses for the companies after receiving thousands of complaints from clients unable to withdraw deposited money. In July, the Cyprus Securities and Exchange Commission (CySEC) has also suspended the Cyprus Investment Firm (CIF) license of Conotoxia Ltd., citing concerns about the company’s compliance with legal and regulatory requirements.Damage Estimate Climbs HigherThe latest damage assessment represents a significant increase from earlier estimates. Prosecutors initially calculated losses at 112 million zloty ($28 million) when they issued the international arrest warrant for Pióro in August.The expanding victim count suggests the currency exchange scandal affected far more clients than originally understood. Investigators have received over 7,000 complaints from users who deposited funds but couldn't recover their money when the platform collapsed.Other company executives already face detention in Poland. Board member Robert G. was arrested in March on similar fraud charges but pleaded not guilty. Chief accountant and attorney Monika J. was detained in May after confessing to her role and providing detailed testimony to investigators.Executive Maintains Innocence From AbroadPióro has consistently denied wrongdoing throughout the investigation, dismissing the case as a "media spectacle" designed to manipulate public opinion. Sources familiar with the case indicate he traveled to the United States after the scandal broke around his company.The executive faces up to 25 years in prison if convicted on the fraud charges. Legal experts expect Polish authorities to work with Interpol to locate and potentially extradite him, though the process could prove lengthy and complicated if he has obtained U.S. citizenship.His social media denials have drawn sharp criticism from prosecutors, who view the posts as undermining their investigation's credibility with affected clients. The prosecutor's office emphasized that all investigative actions have been conducted according to legal procedures.In a June LinkedIn post, he wrote: “I'll manage the institutional rot of the Polish system just fine. You'll get your turn too – I have 3 years for that, so I advise you not to show off.”The case continues expanding as more alleged victims come forward, with prosecutors working to ensure all affected clients are included in the final charges against the currency exchange executives.Interestingly, the website Cicnkiarz.pl is back online after a longer break. It features a rather enigmatic message: “This is not the end. The story continues.” Below it appears another statement: “We built a fintech. Poland’s KNF and Prosecutor’s Office built a fraud case.”Related: This article was written by Damian Chmiel at www.financemagnates.com.

Boku (LSE: BOKU) reported revenue of $63.3 million for the first half of 2025, up 34% from the same period last year, as the London-listed payments company extends beyond its traditional carrier billing business into faster-growing digital wallet connections.Boku Revenue Jumps 34% as Digital Wallets Drive Growth Beyond Carrier BillingThe company said adjusted EBITDA reached $21.8 million with margins of 34.3%, up from 30.1% a year earlier. Operating profit swung to $11.9 million from a loss of $396,000 in the first half of 2024.Revenue from digital wallets and account-to-account payment schemes climbed 89% to $22.5 million, now representing 36% of total revenue compared with 25% in the prior year. The company cautioned that roughly $3 million of first-half revenue came from launch-phase pricing arrangements that won't repeat in the second half.Excluding that one-time boost, underlying revenue grew 27%, a figure Boku expects to match or exceed for the full year. CEO Stuart Neal, who took over in January 2024, said the company remains on track to deliver organic revenue growth exceeding 20% annually and maintain adjusted EBITDA margins above 30%.Key Financial Metrics H1 2025Carrier Billing Still Growing, But SlowingDirect carrier billing, which lets consumers charge purchases to their mobile phone bills, generated combined revenue of $40.8 million from payments and bundling services. The payments portion grew 9% while bundling, which helps merchants distribute apps through carrier channels, jumped 70% to $6.6 million.The company added 60 new connections between merchants and payment methods during the half, and brought on new clients including what it described as a leading digital design platform and a global entertainment company. Monthly active users in June reached 95.5 million, up 20% from a year earlier, while total payment volumes processed through the network increased 28% to $7.4 billion.Boku's take rate, the percentage of payment volume it captures as revenue, edged up to 0.85% from 0.81%, largely reflecting the launch-phase pricing. Stripping that out, underlying take rates held steady.Cash Position Strengthens Despite BuybacksThe company ended June with $87.3 million in own cash, up 9% from year-end despite spending $12.3 million to repurchase 5.8 million shares during the period. Total group cash balances, which include funds held for merchants and issuers, reached $191.9 million.Boku now includes $1.4 million of foreign exchange costs related to currency conversion services in its adjusted EBITDA calculation, a change it says better aligns revenue with associated costs. While that methodology shift dampens the EBITDA comparison, the company said full-year adjusted EBITDA should still meet market expectations of $39.3 million on revenue of $126.7 million.The San Francisco-incorporated company, which maintains its headquarters in London, operates offices across 15 countries including the United States, India, Brazil, China, Estonia, Germany, Singapore, and Japan.Check other Boku-related stories This article was written by Damian Chmiel at www.financemagnates.com.

Charlie Javice received an 85-month prison sentence this week for fabricating customer data to dupe JPMorgan Chase into buying her financial aid startup Frank for $175 million, capping a fraud case that exposed lapses in the bank's due diligence process.Frank Founder Gets Seven-Year Prison Sentence for $175 Million JPMorgan FraudJudge Alvin Hellerstein of the U.S. District Court for the Southern District of New York handed down the sentence after a jury found Javice, 33, and her Chief Growth Officer Olivier Amar guilty in March on three fraud counts and one conspiracy charge. Federal prosecutors had pushed for a 12-year term.Javice broke down while addressing the court, telling Hellerstein she felt profound remorse and asking forgiveness from JPMorgan, her former employees, shareholders and investors. She turned to her family in the courtroom's front row to apologize and thank them for their support.“I will spend my entire life regretting these errors,” Javice said. “I'm asking with all of my heart for forgiveness. I ask your Honor to temper justice with mercy … I will accept your judgment with dignity and humility.”Hellerstein acknowledged her words were moving and praised her life's work as commendable, but said he couldn't grant the forgiveness she sought. He sentenced her not because she's a bad person, but because deterrence matters.“I don't think you'll be committing other crimes and that you'll be devoting your life to service, but others have to be deterred,” the judge told Javice.Charlie Javice sobs in court as she’s sentenced to 7 years in prison for swindling JPMorgan out of $175 million: ‘I am no longer a source of pride for my family’ https://t.co/mb1fy0m7qS pic.twitter.com/hMSJMYYrNy— New York Post (@nypost) September 29, 2025Fake Accounts Masked Tiny User BaseJPMorgan bought Frank in September 2021 to reach college students with banking products. The bank told CNBC at the time that the platform had served more than five million students since Javice founded it.That number was fiction. JPMorgan found out months after closing the deal that Frank had fewer than 300,000 actual customers. Javice created the rest using synthetic identities with help from a data scientist, according to court records.The fraud unfolded in the week before the sale. Javice directed an employee to fabricate millions of users. When the employee refused, she tried to reassure him.“She said: ‘Don't worry. I don't want to end up in an orange jumpsuit’,” the employee testified earlier this year.$287 Million Tab for Failed DealBesides prison, Hellerstein ordered Javice to serve three years of supervised release, forfeit $22.36 million and pay JPMorgan $287 million in restitution. She'll stay out on bail while appealing.Her attorney Ronald Sullivan argued for leniency, pointing out that Frank actually helped some customers and contrasting the case with Elizabeth Holmes's Theranos fraud, which had “dangerous medical consequences.” Holmes got 135 months.“Ms. Javice's sentence should be nowhere near Elizabeth Holmes',” Sullivan told the judge.Assistant U.S. Attorney Micah Fergenson disagreed, calling Javice's crime greed-driven.“JPMorgan didn't get a functioning business, they acquired a crime scene,” Fergenson said.Bank's Buying Spree BackfiresThe episode embarrassed JPMorgan, considered among the most sophisticated corporate buyers. CEO Jamie Dimon had launched an acquisition push starting in 2020, snapping up fintech companies to counter threats from tech giants and upstart competitors.But the bank's rush to beat rival bidders for Frank meant it never verified the customer numbers before writing a $175 million check. Javice, who had been featured on Forbes's “30 under 30” list, was arrested in 2023 after JPMorgan discovered the fraud and shut down Frank.You may also like related stories: This article was written by Damian Chmiel at www.financemagnates.com.

Revolut is reportedly considering a dual listing in London and New York that could value the company at around $75 billion. If completed, the fintech firm would become the first to enter the FTSE 100 while simultaneously listing on a U.S. exchange.According to The Sunday Times, the dual listing is now “widely discussed” within financial circles. A listing of this scale would position Revolut among the top 15 companies on the London Stock Exchange, with a market capitalization equivalent to £55 billion.Storonsky Signals Openness to London IPOFounded by Nik Storonsky, Revolut started as a travel-focused prepaid card and has grown into Europe’s most valuable private fintech. Its services now include crypto trading, hotel bookings, and business accounts. The company serves 65 million users globally, with 12 million based in the UK.Fintech Discover how neo-banks become wealthtech in London at the fmls25Storonsky has previously criticized London’s listing environment, citing the 0.5% stamp duty on share trades. However, he has signaled openness to a UK listing if conditions improve. Recent regulatory changes allow companies of Revolut’s size to be fast-tracked into the FTSE 100 within five days, making index-tracking fund participation easier.UK Reforms May Influence Revolut ListingDuring the launch of Revolut’s Canary Wharf headquarters, Storonsky referred to the UK as “our home country.” UK Chancellor Rachel Reeves said Britain remains “the best place to do business.” You may find it interesting at FinanceMagnates.com: Revolut Reports 46% Revenue Surge as It Seeks $75 Billion Valuation.Revolut chairman Martin Gilbert attended a meeting during President Trump’s state visit, where Reeves and U.S. Treasury Secretary Scott Bessent announced a transatlantic taskforce to encourage dual listings. Nvidia CEO Jensen Huang also pledged investment in Revolut during the trip.Analysts suggest that recent UK regulatory reforms and political support may be influencing Revolut’s reconsideration of a London listing. This article was written by Tareq Sikder at www.financemagnates.com.

eToro has launched crypto staking for its US users, giving clients the ability to earn monthly rewards on select tokens. The program reportedly starts with Ethereum (ETH), Cardano (ADA), and Solana (SOL), with plans to add more assets later.Discover how neo-banks become wealthtech in London at the fmls25Aiming to Simplify Crypto StakingAccording to the company, the feature allows customers to stake eligible crypto while maintaining control of their holdings. It expects to broaden the program to include additional cryptoassets in the future, building on its US digital asset offering.Commenting about the move, Andrew McCormick, the Head of eToro US, said: “eToro has simplified the staking experience for retail investors so they can enjoy monthly rewards without added complications.”“We are excited to launch staking with three significant assets and look forward to contributing to these networks as an organization and through our US community.”eToro is eying expansion across different markets. It recently secured regulatory approval to provide crypto asset services in Germany under the Markets in Crypto-Assets Regulation. The license allows the company to operate in compliance with the EU’s new crypto framework, strengthening its presence in one of Europe’s largest financial markets.eToro CEO Prefers “Owning My Own Bitcoin” Over Leveraged BetsRecently, Yoni Assia, the Co-Founder & CEO, pointed to tokenized stocks, fractional shares, and 24/7 trading as ways to expand global market access, especially in underserved regions. On AI, he outlined eToro’s launch of AI-driven tools, such as chat-based analyst insights and APIs for professional investors, which support automated portfolio management and investment strategies.“When too many people jump on basically leveraged crypto ships, my concern is that in a deleveraging scenario, leverage comes out very fast,” Assia commented. He added that he prefers simply “owning my own Bitcoin,” emphasizing caution amid volatile markets.Expansion in Other RegionsAs part of the transition, the firm announced that all crypto asset trading for German clients will now take place directly through eToro EU. This change is expected to end the previous arrangement, where trading services were facilitated through DLT Finance, aligning the platform with its new regulatory structure.Tangany GmbH reportedly continues to provide custody services for clients’ assets, while trading activities will be managed by eToro EU. To proceed with trading, clients now need to accept updated Terms and Conditions, which will be presented via a notification upon login.More about eToro: This article was written by Jared Kirui at www.financemagnates.com.

Trading and investing platform eToro has partnered with Lean Technologies to enable instant AED bank transfers in the United Arab Emirates. Other brokers in the UAE have also expanded local payment options. Tickmill, for example, partnered with Mashreq Bank to allow deposits and withdrawals in AED and USD.eToro Enables Instant UAE Bank DepositsThe integration lets UAE users link their eToro account to their local bank. Deposits can be made in seconds without leaving the app. The process removes the need to enter card details or switch between applications. It also reduces manual errors and simplifies funding.Join IG, CMC, and Robinhood in London’s leading trading industry event!“Open banking is a powerful innovation that’s transforming how people move and manage their money,” said Doron Rosenblum, EVP of Business Solutions at eToro. “By integrating this capability, our users will benefit from a faster, easier, and safer funding experience.”Abu Dhabi Office Supports Local AED TransfersThe move is part of eToro’s localisation strategy in the region. The company has opened an office in Abu Dhabi, added stocks listed on the Abu Dhabi Securities Exchange and Dubai Financial Market, and integrated UAE PASS for onboarding.You may find it interesting at FinanceMagnates.com: eToro Solidifies MENA Strategy with Abu Dhabi License.As part of the launch, customers depositing AED via instant transfers on eToro will not pay conversion fees when converting funds into USD. This offer is valid until 31 December 2025.“By embedding Lean’s infrastructure, eToro has streamlined the entire process, giving users a faster and safer way to move money,” commentedOmar Hamada, VP of Sales & Partnerships, Lean Technologies. European Users Get New Deposit OptionsMeanwhile, eToro has added new deposit options for its European users, allowing credit card and bank transfer deposits in eight local currencies, including SEK, NOK, DKK, CHF, HUF, PLN, CZK, and RON. The company has secured regulatory approval from the Cyprus Securities and Exchange Commission to operate under the Markets in Crypto-Assets Regulation and continues to comply with MiFID rules. FX fees have been reduced to 1% to lower transaction costs and improve flexibility for users. This article was written by Tareq Sikder at www.financemagnates.com.

Santander-backed payments company Ebury is preparing to re-enter the public markets with a London flotation that could value the business at £2bn, Sky News reported.After a previous attempt to go public was blocked by market instability, advisers now point to the second quarter of 2026 as a likely window for the initial public offering.Delayed by Global Market TurbulenceEbury had originally planned to list earlier this year, but the IPO was derailed by market volatility triggered by global tariffs under the Trump administration. Sources in the City said that the autumn market conditions were not suitable for a successful listing, prompting the delay.Join stablecoin builders in London at the fmls25The company, which facilitates cross-border payments for small businesses, is expected to pursue a valuation of around £2bn. Santander is reportedly unlikely to proceed if the target valuation cannot be met.Several banks, including Barclays, Goldman Sachs, and Peel Hunt, have been engaged to advise on the IPO and help manage the potential listing. Discussions between Ebury’s board and investment bankers suggest that spring 2026 is now the tentative launch period for the offering.Expanding Presence in Cross-border PaymentsThe upcoming IPO would mark a significant step for Ebury in expanding its presence in the cross-border payments market. Analysts note that achieving the expected valuation will be critical, as the company looks to capitalize on improving market conditions after the previous setback.Related: Ebury Picks Goldman Sachs for £2 Billion IPO in the UK: ReportBefore shelving its IPO ambitions, Ebury last year appointed Goldman Sachs to lead preparations for the planned listing.The IPO was positioned as a key test for London’s capital markets, which had seen a slowdown in flotations, particularly in the fintech and payments sector. Ebury’s board reportedly chose London after considering alternative venues. The deal is expected to boost the city’s standing as a financial hub.At the time, sources familiar with the matter said the IPO was being targeted for the first half of the year, with a potential valuation of about £2 billion. The effort was later shelved amid worsening market conditions.More from Ebury This article was written by Jared Kirui at www.financemagnates.com.

Dutch fintech bunq has launched flexible cryptocurrency staking across the European Union, becoming the first European challenger bank to offer the service without mandatory lock-up periods.Bunq Launches Flexible Crypto Staking Across European UnionThe Amsterdam-based bank, which describes itself as Europe's second-largest neobank, partnered with crypto platform Kraken to deliver staking services that allow users to earn up to 10% annually on selected cryptocurrencies. The service operates across the Netherlands, France, Spain, Belgium, Italy, Ireland, Germany and the broader European Economic Area.Users can stake their digital assets to help validate blockchain transactions while retaining the ability to buy, sell or withdraw their holdings at any time. The flexibility addresses what bunq research identified as a key barrier for crypto investors: nearly 65% of users cited uncertainty about market timing as their biggest obstacle to profiting from digital assets.Expansion Builds on April Crypto LaunchThe staking rollout extends bunq's crypto offerings, which launched in April under the bunq Crypto brand. The bank's crypto services run through its partnership with Kraken, giving users access to the trading platform's infrastructure while maintaining the banking interface."Our users have been asking for a simple way to grow their crypto," said Joe Wilson, Chief Evangelist at bunq. "With flexible staking, they can now earn on the crypto they already own while keeping the freedom to buy, sell, or unstake anytime."The crypto expansion comes as bunq pursues broader growth plans, including an application for a U.S. broker-dealer license as part of its entry into American markets. The bank has positioned itself as a technology-focused alternative to traditional European banks, targeting customers who want integrated digital financial services.While the neobank is expanding further into crypto, its partner exchange is broadening services beyond digital assets. Following the acquisition of Breakout, it plans to start offering proprietary trading services.bunq the Largest in Europe but Still Far Behind RevolutThe staking launch puts bunq ahead of other European neobanks in crypto services, though traditional banks and dedicated crypto platforms already provide similar products. The key difference is bunq’s flexible model, which removes the fixed lock-up periods usually tied to staking rewards.While bunq is indeed the largest challenger bank on the European continent, with over 20 million customers, it still lags far behind Revolut, which has amassed 60 million users. New crypto products and its efforts to obtain a broker-dealer license in the United States may help bunq close at least part of the gap between the two fintechs.Related stories: This article was written by Damian Chmiel at www.financemagnates.com.

Revolut opened its new global headquarters in London's Canary Wharf financial district this week, anchoring what the UK government called a £110 billion week of investment commitments from major financial services firms.The fintech company pledged to invest £3 billion in the UK over the next five years and create 1,000 high-skilled jobs as part of an ambitious $13 billion global expansion plan through 2030. Chancellor Rachel Reeves attended the headquarters opening, declaring Britain "open for business" as her Leeds Reforms attract international finance companies."We are committed to the UK as our home country," Nik Storonsky, Revolut's CEO and co-founder, told the audience. The company serves 65 million customers worldwide, including 12 million in the UK, and aims to reach 100 million customers globally by mid-2027.In July, Revolut also opened a new headquarters for continental Europe in Paris as it applied for a French banking license.Competition Intensifies for US Banking MarketRevolut executives revealed the company is "actively looking" at acquiring a US bank or applying for its own banking license there as it pushes for international growth. The London-based firm remains small in America compared to its European operations, where it has established itself as the most valuable fintech startup."Being a bank in every market we operate in is critical," Sid Jajodia, Revolut's US CEO, told reporters. The company currently holds banking licenses in the European Union and Mexico but lacks full banking status in both the UK and US markets.Revolut received a restricted UK banking license in July 2024 after a three-year regulatory process but remains in the "mobilization" phase, preventing it from holding more than £50,000 in total customer deposits. Storonsky said obtaining the final UK license remains his top priority to transfer the company's 12 million British customers into the new bank and offer credit products.Investment Surge Follows Regulatory OverhaulThe week's financial commitments totaled more than £110 billion, with Blackstone leading at £100 billion over the next decade, BlackRock contributing £7 billion, and PayPal adding £150 million for UK product development. Bank of America announced plans for up to 1,000 new jobs in Belfast, while Citi confirmed £1.1 billion across UK operations.The investment wave comes months after Reeves launched the Leeds Reforms, described as the most comprehensive changes to financial regulation in over a decade. The reforms aim to make Britain the top destination for financial services businesses by 2035 through reduced red tape and streamlined approval processes."Through our Leeds Reforms we're making Britain the best place for financial services companies to do business, pushing us ahead in the global race for investment," Reeves said at the Revolut headquarters opening.Revenue Growth Drives Expansion PlansDespite rapid customer growth, analysts note Revolut's average customer deposits remain lower than traditional banks, with too few customers using it as their primary account. The company posted pre-tax profits of £1.1 billion last year, partly driven by cryptocurrency earnings, on global revenues of £3.1 billion.Revolut's $13 billion investment target over five years dwarfs its current revenue base but reflects the company's aggressive expansion strategy. The fintech plans to enter 30 new markets by 2030, including across Latin America, Asia and the Middle East.The company is also pursuing a secondary share sale that could value it at $75 billion, cementing its position as Europe's most valuable fintech firm. Revolut's success exemplifies the strength of Britain's fintech sector, which includes around 3,000 firms supporting tens of thousands of skilled jobs nationwide.Related stories: This article was written by Damian Chmiel at www.financemagnates.com.

Fnality has raised $136 million in a Series C funding round. The round was led by WisdomTree, Bank of America, Citi, KBC Group, Temasek, and Tradeweb. Tradeweb, a global operator of electronic marketplaces, played a notable role in the round alongside the other lead investors. Existing investors, including Banco Santander, Barclays, BNP Paribas, DTCC, Euroclear, Goldman Sachs, ING, Nasdaq Ventures, State Street, and UBS, also participated.Wholesale Payment Systems“Tradeweb’s ambition is to build a 24/7 global capital market ecosystem, and having wholesale payment rails integrated into existing workflows is an important step in that evolution,” Billy Hult, CEO at Tradeweb, commented.Join buy side heads of FX in London at fmls25The company operates wholesale payment systems regulated by central banks. It is building a settlement network based on distributed ledger technology (DLT) to connect wholesale markets with tokenized institutional assets.You may find it interesting at FinanceMagnates.com: Tradeweb Q1 Average Daily Volume Rises 33% to $2.5 Trillion, Lifting Revenue Nearly 25%.“By enabling central bank-backed cash to move on-ledger any time, Fnality is unlocking the full potential of trading digital bonds and other tokenized securities – helping innovation in payments keep pace with innovation in the assets themselves,” Hult added. Stablecoin and Tokenized Deposit Settlement PlannedFnality launched the Sterling Fnality Payment System in the UK in December 2023. It plans to expand into other major currencies, provide liquidity management tools, and support settlement interoperability for instruments such as stablecoins and tokenized deposits.DLT Systems Extend to FX and RepoThe company is also working on real-time settlement of tokenized securities through delivery-versus-payment, FX payment-versus-payment settlement, and repo transactions. These initiatives highlight the ongoing integration of regulated DLT-based systems into financial market infrastructures.SEC Approves Tradeweb SEF for CDSMeanwhile, the US Securities and Exchange Commission has approved Tradeweb Markets Inc.’s TW SEF LLC to register as a security-based swap execution facility under Regulation SE. The designation allows TW SEF to facilitate institutional trading of single-name credit default swaps under updated SEC requirements. TW SEF currently accounts for 52% of SEF volume, with $150 trillion traded in 2024. Tradeweb has offered electronic derivatives trading since 2005 and launched TW SEF in 2013 in response to U.S. regulatory changes. This article was written by Tareq Sikder at www.financemagnates.com.

TrustPay, known for its acquiring and online payment services across Europe, has officially rebranded as finby and at the same time secured a new financial license in Malta. According to the company, the twin announcements mark a significant moment for the Slovak company as it looks to broaden its role in the fast-evolving payments industry.Discover how neo-banks become wealthtech in London at the fmls25New Brand and Broader ReachThe rebrand signals more than a cosmetic change. finby describes the new identity as a reflection of “clarity, adaptability and ambition,” capturing what it sees as the next stage of its growth. The Maltese license further strengthens its regulatory base, enabling the company to expand services and increase its footprint in European markets.Commenting about the move, David Rintel, the CEO of finby, said: “Rebranding to finby marks an evolution for our company. Our new identity reflects the clarity, adaptability, and ambition that define the next phase of our growth. Securing a Maltese license further strengthens our foundations and extends our ability to serve clients across Europe.”Aiming for Faster PaymentsWhile the company has changed its name, its goals remain consistent. finby plans to provide what it calls faster and smarter solutions tailored to the needs of international merchants and e-commerce businesses. Rintel emphasized that although the brand is new, the firm’s long-standing dedication to strong partnerships and reliable service has not changed.Read more: London-Listed Beeks Financial Partners With TMX for Cloud-Based Market Access ServiceFounded in 2009, TrustPay – now finby – has built a client base among online businesses managing cross-border transactions. It offers acquiring services and local payment options tailored to the requirements of each European market. The addition of the Maltese license expands its regulatory reach and positions it for further growth in a sector where speed and compliance are increasingly critical.EU Oversight Reshapes MaltaMalta has become a hub for crypto and payments firms in recent years, but regulators are steadily tightening oversight. This year, the Malta Financial Services Authority (MFSA) ordered all locally licensed crypto-asset service providers (CASPs) to set up dedicated websites for clients in the EU and EEA.The move followed the regulator's sweeping review into how Maltese-licensed firms are applying the EU’s new Markets in Crypto-Assets Regulation (MiCA). The MFSA found that several companies, particularly those operating as part of global groups, run websites with layered navigation structures and mixed content targeting different jurisdictions. Under the new directive, firms must channel EU/EEA clients to websites containing jurisdiction-specific information and make transparent disclosures where offerings are restricted or unavailable. This article was written by Jared Kirui at www.financemagnates.com.

Is your business ready to face the growing threat of financial crime?Financial Crime 360, taking place on 3rd November 2025 in London, is where the industry unites to find the answers. Organised by The Payments Association, this flagship conference equips leaders with the insights, strategies, and tools to stay one step ahead in the fight against financial crime.Get your tickets nowThis must-attend event brings together professionals across payments, banking, fintech, and financial services for a day of collaboration, innovation and actionable solutions in the fight against financial crime.With fraud, money laundering, scams and cybercrime at the top of the regulatory and reputational agenda, Financial Crime 360 delivers a 360-degree perspective on the challenges and opportunities shaping the future of financial crime prevention. With 60+ expert speakers and 45+ exhibitors, the event provides actionable insights and unparalleled networking opportunities with regulators, solution providers and financial institutionsWhy attend Financial Crime 360?Financial Crime 360 is the most influential financial crime and fraud prevention event in Europe. Attendees gain direct access to the strategies and technologies driving resilience across the sector.• Hear from 60+ leading experts sharing best practices and real-world case studies• Connect with 1500+ payments prpfessionals from across payments, fintech, and banking• Stay ahead of regulatory changes and compliance requirements• Discover cutting-edge solutions to fraud, AML, and cybercrime challenges• Strengthen partnerships with peers, clients and providers who are shaping the industry’s futureHow to attendRegistration for Financial Crime 360 2025 is now open. Secure your place today to join the payments industry’s leading voices in the fight against financial crime.Reserve your space here: https://eu1.hubs.ly/H0n26080The risks are real. The threats are growing. The time to act is now.Don’t miss the opportunity to be part of the most influential financial crime event of the year. We look forward to welcoming you to Financial Crime 360! This article was written by Finance Magnates Staff at www.financemagnates.com.