Kraken Eyes a European Banking License
Hey FinTech Fanatic!
Kraken could soon join a very small club.
According to reports, the crypto exchange is pursuing a European banking license, with Lithuania emerging as its preferred jurisdiction. If approved, Kraken would become the first crypto exchange to operate as a licensed bank in Europe.
It's an interesting direction. A few years ago, crypto firms were trying to build alternatives to traditional banking. Today, many of them are applying for the same licenses, connecting to the same payment infrastructure, and expanding into regulated financial services.
There's plenty more waiting below.
You'll also find a look at how Limited's Batch Payments can simplify business payouts, plus an analysis of why Pix has become much more than Brazil's instant payment system and why the rest of the world is paying attention.
See what else is shaping FinTech. 👇 See you tomorrow!
Cheers,
INSIGHTS
📰 Simplify business payouts with Batch Payments by Limited. The feature supports bank transfers, instant Limited-to-Limited payments and crypto transfers, while also allowing businesses to schedule recurring payouts such as payroll, supplier invoices and contractor payments.
FINTECH NEWS
🇬🇧 Payhawk surpasses $100M ARR and grows faster and leaner in Europe, driven by an AI-native rebuild. The company said AI has significantly improved operational efficiency, driving higher productivity across sales, product and customer support while processing growing payment volumes across Europe.
🇦🇷 Nexo Argentina launches Nexo Card and appoints Andres Ondarra as GM. The Nexo Card allows users to spend digital assets in debit mode or borrow against them as collateral in credit mode without selling their holdings. Ondarra brings more than 25 years of experience across traditional finance, FinTech, and the cryptocurrency industry in Latin America.
🇸🇬 Eromnet obtains Singapore MPI license, expanding global FinTech business. With the MPI License, Eromnet is now authorized to provide three regulated payment services in the country: Domestic Money Transfer Service, Cross-border Money Transfer Service, and Merchant Acquisition Service.
PAYMENTS NEWS
🇳🇱 Regulator grants online retailer Bol a license to operate as a payment provider. The new division is mainly aimed at customers who want to pay later. The company will also offer payment services to online businesses, allowing them to process customer payments through Bol’s technology.
🇨🇦 Theparkpay secures a Canadian licence for real-time global payments. The newly acquired licence complements the company’s existing Money Services Business (MSB) licence in Canada, expanding its regulatory capabilities to deliver faster, secure, and fully compliant payment solutions worldwide.
#FINTECHREPORT
🚨 Pix has quietly turned into a geopolitical flashpoint 🇧🇷
Free. Instant. And now caught in a trade fight with Washington.
DIGITAL BANKING NEWS
🇮🇹 Satispay moves into banking: debit cards arrive in partnership with Mastercard. This new collaboration represents the convergence of the innovative energy of a FinTech unicorn and the global expertise of a payments leader: an alliance that aims to strengthen the digital evolution of payment services in Italy.
🇲🇽 Banco Plata to deploy 300 smart ATMs across Mexico to expand access to cash and self-service banking for digital customers. The rollout combines digital wallets, cardless withdrawals and self-service banking, strengthening the bank's hybrid physical-digital strategy without relying on traditional branches.
🇧🇷 Nubank receives authorization from the Central Bank of Brazil to operate in the foreign exchange market. The approval supports Nubank's international expansion strategy and could pave the way for new cross-border financial services as the company continues its pursuit of a full banking license in the country.
BLOCKCHAIN/CRYPTO NEWS
🇺🇸 Gemini launches commission-free stock trading as the next step toward a financial super app. Gemini customers in qualifying jurisdictions can now trade thousands of U.S. exchange-listed securities directly from the Gemini app. Read more
🇱🇹 Crypto exchange Kraken is trying to become a bank in Europe. Kraken is reportedly pursuing a full banking license in Lithuania as part of its European expansion, a move that would make it the first cryptocurrency exchange with such a license in the region.
🇺🇸 Payward, Kraken's parent company, wins $22M arbitration against former auditor Mazars USA, alleging the firm abandoned its 2022 audit despite finding no evidence of fraud. Co-CEO Arjun Sethi said the case highlights the importance of independent audits for crypto firms and renewed calls for clearer U.S. digital asset regulation.
🌍 Bitpanda brings Margin Trading with up to 20x to Europe. Customers can now buy on margin and take leveraged positions of up to 20x on Stocks & ETFs, increasing their market exposure beyond their initial capital. This means that customers can open larger positions and react more dynamically to market opportunities, all within the Bitpanda app.
PARTNERSHIPS
🇲🇩 Mastercard completes Moldova’s first payments executed by an AI agent with maib and Moldindconbank. The pilot demonstrates the banks' readiness to support secure, authenticated AI-driven commerce and lays the foundation for broader adoption of agentic payments.
🇰🇷 Toss partners with Optimism to explore a won-pegged stablecoin for South Korea. The collaboration aims to build a blockchain-based payment and settlement infrastructure that meets institutional-grade security and regulatory standards. Keep reading
🇸🇦 Saudi healthcare FinTech Seha Invest signs a $500m partnership with Y-Innovations at BMG Forum. The partnership aims to combine international innovation with local investment and execution capabilities to accelerate technology transfer, create economic value, and position Saudi Arabia as a regional and global biotechnology hub.
🇺🇸 Depa Finance selects Modern Treasury to power its stablecoin-native cross-border payments infrastructure. Through Modern Treasury, Depa is able to automate flows between fiat and stablecoin accounts, manage the full lifecycle of payment orders at scale, and extend Global USD Accounts to clients.
DONEDEAL FUNDING NEWS
🇬🇧 UK FinTech Kord raises £6.4 million. The company provides an integrated solution for identity verification, AML and compliance, onboarding, document signing, and payments, helping law firms and financial services companies streamline transactions while securely managing client funds.
🌎 Tether to invest $20 million in strategic financing round for Mercado Bitcoin to accelerate onchain financial infrastructure in Latin America. The investment reflects Tether’s continued commitment to supporting open, efficient, and accessible financial infrastructure in high-growth markets and reinforces Brazil’s role.
🇺🇸 Crypto-focused Venture Firm Paradigm leads seed investment in M1X Global to expand tokenized sovereign debt capabilities. The company aims to integrate programmable sovereign debt into institutional financial markets, supporting applications such as collateral, repo transactions, and 24/7 settlement.
M&A
🇧🇷 Pagsmile loses purchase of A55 to RB Holding. The transaction, which was subject to Central Bank approval, has been terminated, and Pagsmile said it no longer holds any equity stake or operational ties with A55. Continue reading
🇨🇦 FinTechWerx adds an important capability to its stack with the acquisition of Ruby Loans. The deal expands FinTechWerx's financial infrastructure offering by adding automated loan origination capabilities that the company plans to enhance with data analytics and AI.
🇿🇦 Launch Africa Ventures sells Peach Payments stake to South African investment manager 27four, giving its Nebula Fund exposure to the fast-growing African payments company. The transaction highlights the growing role of secondary deals in Africa's venture capital ecosystem.
🇺🇸 Trump-backed company behind family crypto wealth in talks to sell the core payments business of AI Financial (formerly Alt5 Sigma) to blockchain firm Perpetuals.com. The proposed deal would mark a major shift for a company originally positioned as the foundation of a stablecoin-powered international payments strategy.
🇧🇷 Kolek is acquired by RecebeAqui, with the companies forming a new holding company while continuing to operate their brands independently. The deal reflects ongoing consolidation in the FinTech sector, as rising regulatory and compliance requirements increase pressure on smaller payment providers.
MOVERS AND SHAKERS
🇺🇸 Fiserv President Dhivya Suryadevara resigns citing a good reason contract clause, following the company's recent CEO transition. She will remain with the company through July 31 to support an orderly handover of her responsibilities. Read on
🇮🇳 PhonePe appoints Srijon Biswas as CTO. In his new role, Biswas will lead PhonePe’s engineering organisation. He has been with the company for several years, leading engineering across multiple teams and contributing to the development of its engineering organisation.
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