Binance Backs Mesh's Next Stage of Growth
Hey FinTech Fanatic!
Binance is reportedly preparing to lead a new funding round for crypto payments company Mesh.
If completed, the deal would value Mesh at around $2 billion, doubling its valuation just six months after its previous funding round.
That's a remarkable jump.
It also comes at a time when more financial institutions are building around stablecoins rather than simply supporting them. Companies that provide the infrastructure connecting wallets, exchanges, merchants, and traditional payment systems are attracting growing attention from both investors and the industry.
There's plenty more waiting below.
You'll find a breakdown of Klarna's latest quarterly results and why the company may have reached an important milestone after its IPO, followed by this week's How FinTech Performed Last Week.
See what else is shaping FinTech. 👇 See you tomorrow!
Cheers,
INSIGHTS
🎙️ SOLUTIONS: One Thing AI Can't Fake — How Location Became the New Identity. In this podcast episode, André Ferraz, founder of Incognia, joins Erin West to discuss how location intelligence is becoming a powerful fraud-prevention tool. They explore how behavioral location data helps detect identity fraud, mule accounts, and large-scale scams that AI-generated faces, voices, and documents can’t easily bypass, and highlight key findings from Incognia’s 2026 fraud report.
One Thing AI Can't Fake — How Location Became the New Identity
FINTECH NEWS
🇺🇸 Robinhood says it has set a Guinness World Record for the most items purchased by an AI agent in three minutes using its Agentic Trading platform. The announcement came alongside new product launches, including crypto features, its public blockchain mainnet, and UK crypto trading.
🇮🇳 FinTech unicorn Moneyview gets SEBI approval for ₹1,500 Cr+ IPO. The regulator issued a final observation letter to the FinTech startup on June 29, effectively giving it the green light to proceed with its IPO. The startup plans to utilise the proceeds from the IPO to support the growth of its lending business.
PAYMENTS NEWS
🇵🇹 Mastercard has launched Priceless Portugal, giving cardholders access to exclusive travel, gastronomy, music, arts and cultural experiences across the country. The platform includes partnerships with local venues and brands, while also connecting Portugal to Mastercard’s global Priceless ecosystem.
🇨🇳 Unlimit has opened a new office in Shanghai, strengthening its presence in China and the APAC region. The expansion aims to better support Chinese merchants growing internationally, while reinforcing the company’s commitment to cross-border commerce and programmable financial infrastructure.
🇪🇺 PayPal joins the European Payments Council (EPC), allowing it to help shape payment standards across the Single Euro Payments Area. PayPal will contribute to discussions on interoperability, instant payments, fraud prevention, resilience, and consumer payment experiences in Europe.
🇱🇺 Paytm secures Luxembourg payment licence to expand regulated services in Europe, effective on July 2, 2026, not carrying an expiry date. The regulatory clearance strengthens Paytm's presence in the European financial services market and provides the company with a framework to expand its payments business in the region under local regulatory oversight.
#FINTECHREPORT
🚨 Klarna just quietly answered the question that's followed it since the IPO: can BNPL actually make money?
DIGITAL BANKING NEWS
🇰🇷 Toss is set to become South Korea’s first FinTech designated as a financial conglomerate, subjecting it to stricter regulatory oversight. The move reflects the company’s expansion across banking, brokerage and insurance, with new requirements for governance, risk management and capital.
🇫🇷 Sumeria launches IBAN One-Way to secure RIB sharing. The new feature aims to better protect customers' bank details when sharing their RIB in their current payment and refund usage. Continue reading
🇬🇧 Starling Bank plans to cut around 130 roles as part of a restructuring aimed at simplifying operations and accelerating product launches with greater use of AI. This move follows a decline in annual profit and revenue, while the bank continues investing in its software business, Engine.
BLOCKCHAIN/CRYPTO NEWS
🇰🇿 Kazakhstan’s central bank has issued its first crypto exchange license under the country’s new digital asset regulations. The license allows Pax Finance to offer crypto trading, custody and exchange services beyond the Astana financial hub as Kazakhstan expands its regulated crypto market.
🌎 LurraPay integrates MoonPay Virtual Accounts, powered by Iron, enabling users to fund and withdraw across USD, EUR and GBP directly within the platform. The integration connects traditional banking and crypto through virtual accounts with support for fast fiat-to-stablecoin transfers.
🇪🇺 Bridge secures MiCA and EMI authorisations covering all 27 EU member states. The licenses enable the company to expand its regulated stablecoin and euro payment services, including virtual IBANs and custom EUR-backed stablecoins for businesses. Read on
🇰🇷 KakaoPay is developing a “super wallet” to support stablecoins and tokenized assets, expanding its blockchain-based financial services. The platform aims to combine payments with digital asset storage and transfers, bridging traditional finance and on-chain asset management.
🇪🇺 Binance says the success of Europe’s MiCA framework should be measured by who it licenses, not who it excludes. Despite withdrawing its Greek MiCA application, the exchange remains committed to Europe and plans to pursue a new licensing strategy, according to Gillian Lynch, Binance's head of Europe and the U.K.
PARTNERSHIPS
🇦🇪 KamelPay launched AbsoluteCard in partnership with Mastercard and Mawarid Financial to help UAE businesses streamline corporate payments. AbsoluteCard combines a web portal, a mobile app and a corporate card, replacing manual administrative work with a more transparent and intelligent financial workflow.
🇵🇹 Klarna has partnered with SIBS to integrate MB WAY as a payment method in Portugal. The partnership is part of a strategy to combine its global network of brands with local payment solutions tailored to the consumption habits of each market, with the goal of reducing friction at checkout by allowing consumers to use payment methods that are already familiar to them.
🌎 Worldline, ING and Visa have completed a live end-to-end agentic payment transaction in Europe. The pilot demonstrated how AI-driven purchases can operate securely within existing regulations, using strong biometric authentication while maintaining customer control and merchant trust.
HOW FINTECH PERFORMED LAST WEEK
📈 How did FinTech stocks perform last week? Let's find out:
DONEDEAL FUNDING NEWS
🇺🇸 EToro led a $12.5 million funding round for Extended as brokers race into DeFi. The investment builds on eToro's $70 million acquisition of self-custody wallet Zengo, announced in April. EToro plans to integrate Extended's perpetual futures engine directly into the Zengo wallet, giving users access to onchain derivatives while retaining custody of their assets.
🇮🇹 Italian-British FinTech firm Mdotm closed a $27 million funding round led by Expedition Growth Capital. This investment will help the company expand its team and meet the growing demand in the US and European markets, said CEO Tommaso Migliore. Read more
🇺🇸 Binance reportedly set to lead a new funding round for Mesh, at a valuation of up to $2B. The deal was reported by Axios, citing people familiar with the matter. The report said demand for digital asset-to-fiat transfer tools, payment systems, and settlement infrastructure is rising. Continue reading
🇲🇽 Baubap secures MX$400 Million credit line from BBVA Spark. This deal marks the first time Baubap will operate its entire financing structure natively in Mexican pesos, giving them direct access to institutional capital while supporting more sustainable growth. The firm plans to use the capital injection to scale its operations and reach more than 5.5 million users nationwide.
🇨🇱 Chilean FinTech Blanco raises $5.2M seed to scale AI-driven factoring. The round was led by Krealo, the venture capital arm of Credicorp. Blanco also plans to move beyond factoring into working-capital loans and insurance products for businesses.
M&A
🇮🇳 Mynd FinTech acquires C2FO India to expand supply chain finance business. The acquisition will bring C2FO India’s platform, about 100 employees and around 140 clients into Mynd FinTech’s operations. The combined business is expected to process Rs 60,000 crore in annual transactions across buy-side and sell-side financing.
🇫🇷 Worldline sells stake in CAWL joint venture to Crédit Agricole. The deal will see Crédit Agricole acquire Worldline’s remaining shares in CAWL, giving it full ownership. Worldline will continue as a technology partner, with CAWL integrating its acceptance solutions into its payments. Financial terms of the deal have not been disclosed.
🌎 Blackstone, CVC Capital Partners and MUFG among the bidders for a stake in Vietnam’s FinTech MoMo. The sale process could involve up to a 50% stake and value the company at more than $2 billion, although it remains ongoing and may not result in a deal, according to people familiar with the matter.
MOVERS AND SHAKERS
🇺🇸 UPAY has appointed Wynand Jordaan as a non-executive director, strengthening its board with expertise in software architecture, cloud infrastructure and FinTech development. The company said the appointment supports its long-term strategy to expand its technology platform and digital infrastructure.
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