M0 & Rain Secure Nearly $100M in a Single Day
Hey FinTech Fanatic!
And stablecoins are making headlines again! In just one day, two startups pulled in about $98 million.
First up, M0 raised $40 million in a round led by Polychain and Ribbit Capital. Founded in 2023 by Luca Prosperi and Gregory Di Prisco, the company works behind the scenes to make stablecoins move smoothly across networks like Ethereum and Solana.
On the other side, Rain, the Visa-backed card that makes spending stablecoins easy, grabbed $58 million in a Series B, boosting its valuation nearly six times since March.
Keep reading for the full stories and your daily FinTech dose 👇
See you on Monday!
Cheers,
POST OF THE DAY
🌎 LatAm Stablecoin Payments Landscape v2
ARTICLE OF THE DAY
🇺🇸 Revolut is in talks with Investment Bankers on a possible U.S. Acquisition. The company is also considering reapplying for a U.S. banking license. This comes as Revolut prepares to launch savings products for U.S. consumers and ramps up marketing efforts, including a recent New York subway campaign. Gaining a license or acquiring a bank would give Revolut greater control over its U.S. operations.
FINTECH NEWS
🇦🇪 FinTech Platform Botim adds in-app gold investing for UAE users. The feature enables users to purchase and manage digital gold in increments of 0.1 grams directly through the Invest section of the app. The service also includes access to O Gold’s Gold Earning (Leasing) Programme, which offers an annual return of 3% in gold.
🇮🇩 Indonesian FinTech startup Wagely is profitable with $120M payouts. Wagely, a Jakarta- and Dhaka-based earned wage access platform, reported reaching profitability and disbursing over US$120 million in wages since its launch. The company said it has processed more than 3.5 million wage transactions to date.
FINTECH RUNNING CLUB
🇵🇪 Meet more of us in Lima on September 19th!
PAYMENTS NEWS
🇺🇸 Stablecoins face last-mile trouble with Phil Bruno, Chief Strategy and Growth Officer at ACI Worldwide. He emphasized the promise and challenges of stablecoins. Writing on behalf of ACI, he noted that while stablecoins offer solutions to inefficiencies in international payments, such as high costs and delays, they face a significant obstacle known as the "last mile" problem.
🇨🇴 Félix Pago arrives in Colombia with a digital remittance service via WhatsApp. Manuel Godoy, CEO and co-founder of Félix Pago, stated that Colombia is one of the main recipients of remittances in Latin America, and that a fast, affordable, and accessible solution has the potential to transform the experience of thousands of Colombian families.
🇺🇸 Expensify announced a suite of powerful updates to Expensify Travel. The platform now supports central billing, event management, and enhanced employee itineraries, designed specifically to simplify corporate travel planning and reduce T&E costs.
REGTECH NEWS
🇺🇿 Eurasian Bank loses licence in Uzbekistan over capital shortfall and regulatory breaches. A liquidation commission will be formed to oversee the closure. From the day its licence was revoked, the institution has been prohibited from accepting deposits, issuing loans, or engaging in any other banking activity.
🇺🇸 TransUnion data breach hits 4.4 million consumers. In reporting the violation to law enforcement agencies, TransUnion states that the hackers penetrated its defences via a third-party application that stored customers’ personal data for its US consumer support operations.
🇬🇧 Almost 5,000 fake FCA scam reports in the first six months of 2025. Scammers aim to steal money by getting people to hand over funds or sensitive information, such as bank account PINs and passwords. 480 victims were duped into sending money to the fraudster. The majority, almost two-thirds, of reports came from people 56 years old or above.
DIGITAL BANKING NEWS
🇪🇬 Egypt’s first digital bank, Onebank, is to open for business in 2026. The bank aims to attract 800,000 customers in its first year. It is targeting deposits of EGP40 billion ($822 million) over that period. The CEO, Sherif ElBehery, said that Onebank’s initial focus would be on retail banking, and the business would start targeting corporate clients after 18 months.
BLOCKCHAIN/CRYPTO NEWS
🇻🇳 Vietnam greenlights crypto-to-fiat Sandbox Trial in Da Nang. Da Nang has cleared Basal Pay, a crypto-to-fiat conversion platform developed by AlphaTrue Solutions JSC, to operate in the city’s controlled FinTech sandbox. AlphaTrue designed Basal Pay to comply with global standards.
🇦🇪 UAE digital bank Zand offers CoinMENA users seamless fiat to crypto integration. Clients will be able to transfer funds between their Zand Bank account and CoinMENA wallet. Zand’s AI and blockchain infrastructure will ensure efficient banking services for CoinMENA users.
🇺🇸 Stablecoin Groups Circle and Paxos test new tech to verify crypto payments. The firms partnered with Bluprynt to use cryptography and blockchain technology to provide issuer verification when stablecoins are released by a company. The pilot provided a way to trace back a token to the verified issuer, using Bluprynt’s technology.
🇪🇺 Young Platform to launch Europe’s first crypto-native neobank under MiCA framework. The launch comes as digital banking grows rapidly worldwide, with the neobanking market valued at $143.29 billion in 2024 and forecast to reach $3.4 trillion by 2032. Europe leads the sector with a 37.75% share.
🇺🇸 Lygos aims to banish ghosts of crypto lending collapse with a non-custodial bitcoin model. By enforcing agreements directly on the Bitcoin layer 1, Lygos said it can restore confidence with transparent, enforceable contracts and no reliance on custodians.
PARTNERSHIPS
🇬🇧 Allica Bank to sponsor rising motorsport star Daniella Sutton. Sutton, who currently races in the BRSCC Fiesta Junior Championship and has ambitions to step into FIA Formula 4. Allica said the partnership reflects its commitment to supporting those who take bold steps forward, whether on the track or in business.
🇮🇳 Mastercard and Infosys collaborate to scale cross-border payments. The solution’s seamless integration will create an efficient pathway for financial institutions to access Mastercard Move's cross-border capabilities in a fraction of the typical implementation time and without the intensive resourcing traditionally needed for integration projects.
🇲🇾 MBSB Bank launches Get- Global Easy Transfer, and becomes the first bank to partner with the Wise platform in Malaysia. With this launch, Wise's global infrastructure for banks and enterprises enables customers to send money abroad in a simpler, faster, and more transparent way, directly through the Bank’s M Journey retail banking app.
DONEDEAL FUNDING NEWS
🇨🇠Crypto startup M0 raises $40 million to build out a stablecoin network. M0 aims to onboard as many stablecoin issuers onto its network as possible. That includes the crypto wallet MetaMask, which recently announced the launch of its stablecoin in partnership with M0.
🇺🇸 Atomic raises $30 million to accelerate global expansion of its embedded investing platform. The financing will accelerate Atomic’s regulatory expansion and scale its investing platform across banks, insurers, FinTechs, and consumer brands. Read more
🇮🇳 Banking infrastructure startup TransBnk raises $25 million. The company aims to enhance its technology and product teams while capitalizing on banks' transition to modular, opex-led technology stacks. TransBnk's platform connects FinTechs and corporates with multiple banks through its API-driven system.
🇺🇸 Stablecoin card startup Rain raises $58 million led by Sapphire Ventures, just months after its last fundraising round, demonstrating once again investor enthusiasm for crypto startups flowing from congressional passage of stablecoin legislation in July.
M&A
🇬🇧 Barclays to sell Entercard stake to Swedbank for $273 million. Swedbank will buy out Barclays' stake in Entercard, which provides consumer credit in the Nordics, at the 2.6 billion crown book value estimated in March, and will pay in cash. Keep reading
🇩🇪 Berlin-based FinTech platform topi is acquired by PEAC Solutions. The acquisition will further expand PEAC Solutions’ suite of online finance offerings as well as their capabilities in the fast-growing ‘Hardware as a Service’ (HaaS) segment of the asset finance market.
🇨🇦 Wealthsimple acquires Fey to bolster its investment research capabilities. The financial terms of the transaction were not disclosed. Wealthsimple stated the acquisition of Fey’s three-person team and technology positions the financial services provider to bridge the gap between basic trading apps and complex brokerage platforms.
Want your message in front of 100.000+ FinTech fanatics, founders, investors, and operators?
Shoot me a message on LinkedIn or send me an e-mail.
Comments ()