Nubank's €42M Banking License Hack?
Hey FinTech Fanatic!
The Brazilian subsidiary of Caixa Geral de Depósitos is getting closer to being sold.
This time, it's the Brazilian Nubank that is moving forward with the deal, which is expected to be worth 250 million Brazilian reais (42 million euros), a deal potentially closing by the end of 2026.
This move aligns with what we've discussed before in this newsletter: rather than navigating the lengthy, regulatory-heavy process of securing a full banking license independently in Brazil, Nubank could fast-track its expansion by absorbing CGD Brasil's existing license and operations.
Integrating CGD Brasil, a smaller player with established banking credentials, could unlock traditional deposit-taking, lending, and investment services, supercharging Nubank's product suite amid fierce competition from players like Itaú and Bradesco.
As cross-border M&A heats up in FinTech, this deal underscores how incumbents' subsidiaries are becoming prime targets for agile disruptors.
We'll track developments closely. Could this be the catalyst for Nubank's next growth phase?
See what else is happening in FinTech today. 👇See you tomorrow!
Cheers,
#FINTECHREPORT
📉 FinTech deal count falls to a multi-year low in Q1 2026.
FINTECH NEWS
🇫🇷 Worldline completes divestments and revenues beat expectations. The divestment programme aims to streamline Worldline's cumbersome portfolio of businesses and help it return to growth. Worldline is now worth only a fraction of the market value it had at its pandemic peak.
🇺🇸 FIS launches new platform giving banks control over digital money. Lyriq keeps tokenised deposits, stablecoins, and other digital assets on issuing bank balance sheets, integrates with existing core banking systems regardless of provider, and enables 24/7 settlement with transactions that complete fully or fail cleanly.
PAYMENTS NEWS
🇬🇧 LemFi announces a £100 million commitment to the UK economy and establishes London as our Global Headquarters. The investment will support hiring, technology development, and compliance infrastructure, reinforcing the company’s global growth and its role in cross-border financial solutions.
🇺🇸 Corpay launches AI capabilities to modernise spend management. These innovations bring practical, high-impact AI into everyday financial workflows to help companies move faster, reduce manual work, and make more informed decisions. Keep reading
🇺🇸 SumUp expands its core product ecosystem to empower millions of U.S. small businesses. The company’s product lineup brings together everything a business needs under two clear pillars: Run Your Business and Take Payments. These updates give merchants a clearer picture of their business, and more control over how they grow it.
🇺🇸 Square brings Managerbot to more sellers, giving Main Street an intelligent business agent. Managerbot provides sellers with a powerful, proactive tool that monitors operations, surfaces insights, automates routine tasks, and protects their businesses.
🇭🇰 ZEN.COM secures Hong Kong license. The MSO license enables ZEN.COM to expand its financial services in the region and further strengthen relationships with global partners, particularly in e-commerce and cross-border payments. Continue reading
DIGITAL BANKING NEWS
🇲🇽 Revolut wants to compete with GBM and Bitso with a global investment platform. Revolut Markets seeks to expand its offering in Mexico and position itself as a relevant player in the digital retail investment segment. According to a statement, the application will have access to more than 2,000 stocks and exchange-traded funds (ETFs) from the US market.
🇬🇧 Airtel targets $2bn London IPO for mobile money unit. The listing would be a boost for the LSE, which has recently seen local FinTechs such as Klarna, Wise, and Revolut either pick or at least explore New York for IPOs. Read more
BLOCKCHAIN/CRYPTO NEWS
🇺🇸 Visa accelerates stablecoin momentum. Visa has expanded its stablecoin settlement pilot by adding five new blockchains, Base, Canton, Polygon, Tempo, and Arc, bringing total support to nine networks. The move strengthens Visa’s multi-chain strategy as stablecoin settlements scale, reaching a $7 billion annualised run rate.
🇺🇸 Polymarket is seeking CFTC approval to establish its crypto exchange in the United States. This initiative would allow it to expand its regulated presence in the country beyond intermediate access through QCX. The approval could offer Americans direct on-chain access to global prediction markets. Additionally, Polymarket’s new network goes live. The update aims to support higher trading volumes, introduce new fee structures, and evolve the platform toward a more advanced trading environment.
🇦🇹 KuCoin EU hires anti-money laundering talent to appease Austrian regulator. KuCoin EU appointed Carmen Kleinhans as anti-money laundering officer (AMLO), alongside the expansion of its broader AML function. The exchange also hired Austrian compliance veterans Stephan Klinger and Bernd Träxler as deputy anti-money laundering officers.
PARTNERSHIPS
🇺🇸 Bloxley partners with Equals Money | Railsr to power European financial infrastructure. Through the partnership, Bloxley will integrate Equals Money's multi-currency account capabilities, international payment rails, and enterprise-grade security features into its platform, creating reliable, compliant, modern payment experiences for its customers.
🇺🇸 Innovative Payment Solutions has partnered with FINAP Worldwide to form FINAP USA, a jointly owned entity that will commercialise integrated banking and payments platforms across North America. The venture combines IPSI’s U.S. infrastructure with FINAP’s global technology to expand into high-growth FinTech sectors.
🌏 Thunes and WireBarley launch real-time payment solution for 1.1 million users across Asia and Beyond. By integrating with Thunes’ Direct Global Network, WireBarley’s 1.1 million users gain access to enhanced payout capabilities and faster remittance services across seven sending countries and 520 payout corridors.
🇳🇱 bunq and Blockrise partner to provide users with secure access to Bitcoin services. The service will help provide users with better, safer products by handling complex compliance and security requirements so they can innovate faster. Read more
🇺🇸 Sokin and Adyen partner to give US businesses a single solution for ecommerce payments and treasury operations. Businesses can accept payments through Sokin’s checkout and payment links functionality across more than 35 payment methods, over 170 countries and territories, and charge and settle in multiple currencies.
🇺🇸 MoneyGram modernises retail solutions globally with Stripe, advancing a unified, omnichannel experience. The launch upgrades its global retail footprint with a modern payments infrastructure and the best point-of-sale technology in the industry.
DONEDEAL FUNDING NEWS
🇺🇸 NUVA Digital raises US$5.2M. The fresh capital will accelerate development of the NUVA platform and fuel its growth, including expansion of the curated vault marketplace, additional issuer integrations, multi-chain deployments, institutional tooling, and preparation for the NUVA utility token launch.
🇮🇳 Sahamati secures Rs 50 crore in funding from large banks, AMCs, stockbrokers, and FinTechs. The funding will enhance the data sharing platform´s infrastructure and participation. The investment supports the development of a robust framework for financial data management, placing consumers in control of their information.
🇱🇹 YamSoft launches AI-powered payment capabilities following €2.35M EU innovation grant. The grant has enabled YamSoft to develop and deploy advanced AI capabilities now available to payment service providers and FinTech operators across Europe.
🌎 Tether leads Belo's $14 million raise to expand stablecoin payments across Latin America. By combining payments, foreign exchange, and cross-border transfers in one app and relying on stablecoin infrastructure, Belo aims to lower costs and friction in Latin America’s fragmented financial systems and serve users underserved by traditional banks.
🇺🇸 Bullish to invest over $19 million in finance platform Mezo. The initiative enables institutions to generate yield on Bitcoin holdings through secure vaults and collateralised lending. Continue reading
🇺🇸 Solana Ventures leads $18 million round in Squads to scale its stablecoin platform Altitude. Built on Solana, Altitude enables businesses to manage finances and payments using stablecoins, positioning itself as an alternative to traditional banking infrastructure.
M&A
🇮🇹 CVC weighs €9bn bid for Italian payments group Nexi after a sharp share price decline, though any deal would depend on support from the Italian government due to political sensitivities and control of financial infrastructure. Read more
🇳🇬 MTN Group to acquire 60% stake in MTN Nigeria’s MoMo and Y’ello Digital for N95bn. The move aims to consolidate ownership under a new holding structure while reducing MTN Nigeria’s exposure to loss-making FinTech operations.
🇧🇷 CGD Brasil is closer to being sold. Nubank wants to close the deal for 42 million by the end of the year. The deal would support Nubank’s expansion in Brazil as it works toward securing a full banking license, while CGD moves forward with divesting its local operations.
🇮🇱 Crypto Firm MoonPay bets $100 million for institutional push. MoonPay Inc. has acquired Sodot, an Israeli crypto security startup, as part of a plan by the crypto payments firm to launch a new unit focused exclusively on catering to institutional demand for digital assets.
MOVERS AND SHAKERS
🇬🇧 CAB Payments Non-Executive Director Kushagra Saxena to step down. Saxena is stepping down from the board to take up an executive position at another organisation. During his time on the board, Saxena advised the company across a range of strategic areas, including its digital, technology, and stablecoin strategies.
Want your message in front of 275.000+ FinTech fanatics, founders, investors, and operators?
Comments ()