Linqto Bankruptcy: Court Permits $500M+ Stake Sale

Hey FinTech Fanatic!
Collapsed FinTech Linqto got court approval to sell off its portfolio to fund its bankruptcy case.
Linqto did not specify which securities it would try to liquidate, but stated it would be from a portfolio worth more than $500 million.
Known as a retail gateway to private markets, Linqto is now under SEC scrutiny for accredited investor verification missteps.
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PAYMENTS NEWS
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REGTECH NEWS
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DIGITAL BANKING NEWS
🇺🇦 monobank launches its network of payment terminals. The terminals allow customers to top up monobank cards free of charge. "We have begun installing them in Ukrainian cities and building our replenishment network," Oleg Gorokhovsky, co-owner of FinTech Band, announced on social media.
🇶🇦 Qatar's QNB first GCC bank to launch commercial unified digital wallet integration using the Mastercard gateway. With this advancement, QNB is leading the way in simplifying digital wallet acceptance for merchants through a scalable, seamless, and fully integrated solution.
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BLOCKCHAIN/CRYPTO NEWS
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PARTNERSHIPS
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🇺🇸 MoonPay and Trust Wallet sign multi-year partnership to expand on- and off-ramp services. The expanded deal makes MoonPay the default provider for buy and sell flows within the wallet, simplifying access to crypto across multiple fiat currencies and payment methods.
🇺🇸 Workday and DailyPay form a strategic partnership to bring on-demand pay to millions of workers. Through this collaboration, employers can give workers, including frontline and hourly workers, real-time access to their money as they earn it.
🇺🇸 Nuvei integrates with Zuora for subscription payments. The partnership enhances Nuvei’s ability to support enterprise recurring revenue at a global scale and provides Zuora’s customers with a robust payments infrastructure to accelerate growth in both established and emerging markets.
🇵🇭 Higlobe and Coins.ph launch first stablecoin-powered payment rail for U.S.–Philippines transfers with lowest cost guarantee. New payments solution set to save businesses and professionals tens of millions in fees. It will deliver the guaranteed lowest-cost, most transparent cross-border payment solution for U.S. businesses paying Filipino freelancers, vendors, and remote teams.
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DONEDEAL FUNDING NEWS
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🌎 Cointel raises $7.4M in strategic round led by Avalanche and Sugafam Inc. This funding solidifies Cointel’s position at the intersection of AI, crypto, and education, building a globally scalable platform that meets the needs of new users, data-driven traders, and everyone in between.
M&A
🇺🇸 Bankrupt FinTech Linqto Inc to sell hard-to-get stakes in private firms. Linqto did not list which securities it would try to liquidate, but said they would come from a portfolio worth more than $500 million. It had acquired the stakes for itself and its customers before the online investment platform shut down and filed for bankruptcy.
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🇮🇱 Kraken announced the acquisition of Capitalise.ai, bringing no-code trading automation to Kraken Pro. By integrating Capitalise.ai’s technology into Kraken Pro, users will soon be able to automate sophisticated strategies across digital and traditional asset classes without writing a single line of code.
🇺🇸 Fifth Third announces acquisition of DTS Connex, adding scale, innovation in cash management. DTS Connex’s technology solutions address the complex and complicated needs of clients seeking to increase efficiency, transparency, and oversight in cash logistics management.
MOVERS AND SHAKERS
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