Maya Gears Up for $1B US IPO as Emerging Markets FinTech Heats Up
Hey FinTech Fanatic!
Maya is reportedly preparing for Wall Street.
A Philippines-born FinTech exploring a potential US IPO of up to $1 billion... 👀
I’ve been tracking Maya’s evolution for a while. What began as a payments-led ecosystem has methodically expanded into a fully integrated digital bank. Wallet. Acquiring. Credit. Deposits. All anchored in transaction flow.
If this IPO moves forward, it will not just be about capital. It will be a statement about how far emerging market FinTech models have come.
PLDT’s disclosures show Maya Bank reaching 5.4 million customers and originating 68 billion pesos in loans in 2024. That’s meaningful balance sheet activity for a player rooted in Payments.
The story here feels bigger than one company. Southeast Asian FinTechs are increasingly weighing global capital markets while domestic exchanges struggle to keep pace with regional benchmarks.
Meanwhile, competition continues to build. GCash, another major Philippine FinTech, has reportedly pushed its IPO timeline further out. Local regulators, in response, are considering adjustments to listing rules to attract larger issuers.
How about checking out all of today's industry news? 👇 Scroll down and take a look. I'll be back tomorrow with all the latest news.
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FINTECH NEWS
🇵🇭 Digital Bank Maya is said to weigh a US IPO of up to $1 billion. The company involved in digital payments and banking is working with advisers on a listing that may happen as early as this year. Maya, in a statement, said it doesn’t comment on market speculation and is focusing on scaling its digital financial services in the Philippines.
🇺🇸 FinTech lending giant Figure confirms data breach. The company said it is notifying affected partners and individuals and offering free credit monitoring. The hacking group ShinyHunters claimed responsibility and has reportedly published 2.5GB of stolen data after Figure refused to pay a ransom.
🇺🇸 Ramp unveils AI Accounting Agent to speed month-end close. Customers can set what actions the product is allowed to take, from coding and review to syncing transactions into an accounting system. Low-risk transactions can post automatically once required checks are complete, according to Ramp.
PAYMENTS NEWS
🇬🇧 Klarna launches on Google Pay in the UK. Users will be able to manage their purchases seamlessly in the Klarna app, tracking deliveries, handling returns, and managing repayments, all in one place. The integration will make flexible payment options even more accessible for Google Pay users.
🇪🇹 Ethiopia launches national instant payments. EthSwitch now connects 32 banks, 12 MFIs, three PSO and three PII, providing modern card-switch hosting, centralized automated reconciliation, and modern card and shared e-wallet services to its members.
🇲🇹 BVNK secures MiCA licence in Malta. This licence will allow BVNK to offer digital asset services across all EEA member states from our base in the country, where it is already authorised as an e-money institution. Keep reading
DIGITAL BANKING NEWS
🇧🇷 Agibank suffers a security incident involving approximately 5,300 Pix keys. Protected data remained outside the scope of the incident, the authority reported. There was no access to passwords, balances, statements, transaction history, or other information covered by banking secrecy.
🇸🇰 N26 launches account for children aged seven and up in Slovakia. This is a children's debit card designed for children aged seven to 17. According to the bank, the child has their own card, while the parent has full control over the account and payments and can set limits or rules for the card's use.
🇨🇴 Nubank ranks fifth in savings account balances in Colombia. This solidifies its position as the only neobank within the top 10, led by traditional banks. The neobank has managed to reduce the cost of financial services, and that has increased profitability rates, CDs, and high-yield accounts.
BLOCKCHAIN/CRYPTO NEWS
🇪🇺 OKX snags European payments license for stablecoin and crypto card expansion. The license allows OKX to continue offering stablecoin-related payment services across the EU in full compliance with the Markets in Crypto-Assets (MiCA) regulation and the Second Payment Services Directive (PSD2), the company said in a press release.
🇫🇷 Binance France CEO home invasion adds to record crypto attack wave. Police later arrested the suspects after tracking the stolen devices, and Binance said it is cooperating with authorities and strengthening security measures. Additionally, Changpeng Zhao said privacy remains the “missing link” preventing wider adoption of crypto payments, arguing the industry must prioritise stronger privacy features.
🇦🇪 Binance denies sanctions breach claims after $1 billion Iran-linked USDT transactions reported. The allegations said the activity involved USDT transfers on the Tron blockchain and that several senior compliance staff left after raising concerns. Binance has rejected the report, defending its compliance record amid growing scrutiny from regulators and the financial press.
🇦🇪 AEC Wallet enables users to top up AE Coin directly with crypto. Pursuant to this approval, clients of Emirates Currency Investment Company, licensed by the Capital Market Authority, will be able to open accounts within the AEC Wallet and make payments in UAE Dirhams following direct cryptocurrency settlement.
PARTNERSHIPS
🇦🇿 Mastercard and ABB launch Azerbaijan’s first corporate travel & expense card. The new ABB Corporate T&E Card powered by Mastercard is designed to help companies digitize business travel and operational spending, replacing cash and fragmented processes with a secure, transparent, and efficient payment solution.
🇵🇭 PNB and Mastercard roll out tokenized e-wallet payments. The partnership will help to accelerate the rollout of tokenized digital wallet payments, a move aimed at strengthening transaction security while making everyday payments more seamless for Filipino consumers.
🇦🇪 Apaya and NymCard partner to bring open finance–powered real-time payments to UAE Merchants. Through this partnership, Apaya enables merchant adoption through its no-code orchestration platform, while NymCard provides the licensed Open Finance payment infrastructure required to support secure, consent-driven A2A transactions in real-time.
🌏 DBS is the first bank in the Asia Pacific to pilot Visa intelligent commerce for everyday payments. Through this collaboration with Visa, DBS is marking a significant step in translating agentic commerce from concept to reality, as well as establishing the foundations for safe and scalable adoption across the region.
🇦🇪 Liv launches Multicurrency Visa Card, enabling seamless global spending with automatic currency routing. The card allows customers to hold and spend in AED plus major global currencies, including US dollars, British pounds, euros, Canadian dollars, and Australian dollars, all managed in real time within the Liv app.
🇰🇪 Visa and I&M Bank partner to accelerate digital payments in Kenya. The partnership is expected to have a notable impact throughout the region, supporting both economic growth and financial inclusion. Its goals include upgrading payment systems in underserved areas and improving options for cross-border payments.
🇬🇧 TerraPay partners with Sabre Direct Pay to expand instant cross-border payment solutions for travel suppliers. Under the agreement, Sabre Direct Pay will enable agencies, airlines, and hotels to send instant bank transfers through TerraPay’s network.
🌎 Chubb strengthens emerging market growth with Nubank partnership. The firm noted Chubb’s considerable presence in global markets as a significant bonus, predicting stronger long-term growth than rivals due to the company’s position in rising regions such as Asia and Latin America.
DONEDEAL FUNDING NEWS
🌍 Zambian Neobank Lupiya raises $11.2m Series A to expand across southern Africa. The round will be used to strengthen the neobank’s technology infrastructure, expand its product range, and extend operations beyond Zambia into broader Southern and East African markets.
🌎 Tether invests in Hyperliquid frontend Dreamcash, offering perps markets for TSLA, gold, and more using USDT0 collateral. The move comes in the wake of the first USDT0-collateralized real-world asset perpetual markets going live on the popular DEX.
🇮🇳 Otto Money raises $1.3 million in pre-seed funding led by Pravega Ventures. The fresh funds raised will be used to strengthen its AI models, enhance personalization, and expand its goal-based guidance capabilities over the next 12 to 18 months.
🇸🇦 Saudi-based FinTech CASHIN closes SAR 60 million Series A Round led by Impact46. The fresh capital will be used to accelerate product development, expand CASHIN’s customer network across the Kingdom, and further strengthen its artificial intelligence capabilities.
🇸🇦 Madfu raises $25.5 million pre-series A round to expand Sharia-Compliant BNPL Payment Solutions. The newly secured funding will play a central role in executing Madfu’s strategic roadmap for 2025 and beyond. The company plans to accelerate its operational expansion across Saudi Arabia.
M&A
🇸🇬 Japan’s SBI to acquire Coinhako. By integrating Coinhako Group’s decade-long operational expertise and robust digital asset infrastructure with SBI Group’s extensive financial resources and global network, the two entities endeavor to establish a next-generation digital asset powerhouse in Asia.
MOVERS AND SHAKERS
🇺🇸 Robinhood hires Gaëtan Thabot to head crypto partnerships. Gaëtan Thabot joins Robinhood after spending the past year as VP of Sales and Partnerships at Reown and VP Business Development of related crypto payments company WalletConnect.
🇬🇧 FinTech grandee Charlotte Crosswell joins London Stock Exchange board. Appointment comes as the bourse battles a dearth of IPOs and major delistings. Crosswell has joined the LSE, a subsidiary of the wider London Stock Exchange Group, as a non-executive director.
🇺🇸 JPMorgan Chase names Guy Halamish as new COO for its commercial and investment banking division to drive AI expansion. He will be responsible for the oversight of the bank’s expansion of AI tools across these business areas. Read more
🇸🇪 Brite Payments appoints Robin Paulsson as CFO as Fredrik Strömqvist departs. Paulsson is a former finance manager at Klarna, and also brings industry experience from Lendify, KPMG, Movestic, and Nordic management consultancy Capacent, where he served as CFO between 2016 and 2018.
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