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/crypto

Paxos approved to issue stablecoins in Singapore

Paxos has received full approval from the Monetary Authority of Singapore to offer Digital Payment Tokens and has lined up DBS Bank as its primary banking partner for cash management and custody of stablecoin reserves.

/retail

Revolut soars to record profit

Fintech juggernaut Revolut has surged to a record profit of $545 million in 2023, boosting its long-term quest to secure a UK banking licence.

/payments

Ant Group acquires Dutch payments vendor MultiSafePay

China's Ant Group has acquired Dutch payments firm MultiSafepay as it expands further into Western markets.

/people

Bank of Ireland recruiting for 100 technology roles

Bank of Ireland is recruiting for 100 technology roles to work on new customer features on digital channels, protecting customers against fraud, and advanced data analytics.

/startups

Currensea smashes crowdfunding target

Travel debit card Currensea has raised over £1.7m from 760 investors in just four hours on crowdfunding platform Seedrs.

/retail

Lloyds Bank to close further 60 branches

Lloyds Banking Group has revealed 60 new branch closures for the remainder of the year and 2025.

/payments

US judge rejects "paltry" $30 billion swipe fee settlement

A US district court judge has rejected an agreed $30 billion settlement over swipe fees between the two major card schemes and US merchants partially on the grounds that Visa and Mastercard have the financial armoury to pay "substantially" more.

/payments

Five Asian markets to link domestic instant payment schemes

The Bank for International Settlements is to move toward live implementation of Prject Nexus, an initiative that seeks to enhance cross-border payments by connecting multiple domestic instant payment systems globally.

/security

Monzo introduces trio of new fraud controls

Monzo has introduced a trio of security controls to help customers diminish the prospect of fraudulent payments out of their accounts from phone theft, shoulder surfing or impersonation scams.

/markets

BlackRock to buy private markets data platform Preqin for £2.5 billion

BlackRock is to acquire private market data firm Preqin for £2.55 billion in an all-cash deal expected to close before year end.

/retail

Wefox rescued from insolvency amid "profound" restructuring

One-time insurance unicorn wefox has secured €25 million in fresh capital amid a brutal restructuring effort to keep the ailing business afloat.

/startups

Chime buys enterprise employee rewards platform Salt Labs

Digital banking giant Chime has acquired employee rewards startup Salt Labs. Financial terms of the deal were not disclosed.