Papaya Global Explores Sale at Up to $𝟰.𝟱 𝗕𝗶𝗹𝗹𝗶𝗼𝗻 Valuation
Hey FinTech Fanatic!
Papaya Global is reportedly in advanced discussions around a potential sale, with valuations ranging between $3.5B and $4.5B.
Talks are said to involve private equity firms and enterprise software giants like SAP and Oracle.
The bigger driver here is B2B. Revenue came in just over $100M last year, with a $200M target this year and profitability in sight.
Its platform enables businesses to pay employees and contractors across 160 countries and 130 currencies.
Growth has been supported by partnerships and acquisitions, including a global collaboration with dLocal, focused on improving payroll payments in emerging markets.
Co-Founded and led by Eynat Guez, Papaya Global has quietly built one of the most scaled cross-border payroll platforms out there.
Curious where FinTech is heading next? Dive into today’s updates 👇
I’ll be back tomorrow with more stories shaping the FinTech industry.
Cheers,
FINTECH NEWS
🇺🇸 Papaya Global considers a sale with a valuation up to $4.5 billion amid B2B growth. The company is negotiating with multiple international parties, including a private equity fund and enterprise software firms such as SAP and Oracle. The company’s cross-border payroll software operates in 160 countries and supports 130 currencies.
🇩🇪 Trading 212 now offers automatic tax withholding in Germany. The new feature simplifies tax handling by automatically applying relevant taxation in real time. Necessary information and data on all investment activities are available in real time.
🌏 UK FinTech Permutable AI expands into the Asia Pacific. The expansion follows increased engagement from investment firms, commodities and energy desks, and risk teams that require timely macro and commodity intelligence to understand how geopolitical events, policy decisions, and narrative shifts influence financial markets.
PAYMENTS NEWS
➡️ Payments companies with key stablecoin offerings announced in 2025 👇
🇧🇷 Visa Conecta receives approval from the Central Bank to operate in the foreign exchange market. This means that the company can now operate in the buying and selling of foreign currencies, expanding the scope of services within the payments sector.
🇺🇸 PayPal Ads launches Transaction Graph Insights and Measurement to improve commerce advertising outcomes. PayPal's Transaction Graph helps identify high-intent shoppers as PayPal is the only platform connecting search, shop, and share signals across more than 430 million consumer accounts and tens of millions of merchants.
🇦🇪 RAKBANK secures in-principle approval for AED-backed stablecoin. RAKBANK said the proposed stablecoin is designed to combine the security and trust of traditional banking with the efficiency and programmability of blockchain technology.
🇧🇷 PicPay requests authorization to have its own bet. The operation in this segment will be through Nosso Time iGaming. PicPay stated that the goal of Nosso Time iGaming is to operate in sports betting at major events, taking all necessary precautions regarding responsible gaming and financial education.
🌎 Makachain and Estable.IO collaborate to simplify stablecoin payments for everyday use. The collaboration aims to provide technology solutions for crypto and stablecoin-related adoption with public and private sector institutions, including initiatives in Argentina and other Latin American countries.
DIGITAL BANKING NEWS
🇺🇸 Dutch FinTech Bunq reapplies to become a bank in the US. The company stated that it submitted its application for a national bank charter to the Office of the Comptroller of the Currency on Tuesday. Continue reading
🇲🇽 Mercado Pago strengthens its digital payments network in anticipation of increased demand due to the World Cup. The company is reinforcing its commitment to the digitization of cash in Mexico with a strategy focused on the deployment of payment infrastructure. Additionally, Mercado Pago launches a new credit scoring tool in Brazil. The feature promises to provide a clear view of each user’s score and indicate concrete recommendations for measures that can improve conditions within the digital bank’s ecosystem.
🇦🇷 Ualá launches new insurance products. Ualá announces the addition of Life and Personal Accident Insurance to its ecosystem, offering a 100% digital experience accessible through the app. These policies will be provided by Allianz, a global leader in insurance, and will be rolled out gradually.
🇪🇸 CaixaBank creates Artificial Intelligence Office. CaixaBank has established an Artificial Intelligence Office to ensure that all corporate projects involving AI comply with regulations, ethical standards, and provide real business value. Keep reading
🇧🇷 The Central Bank's tool prevents the opening of 111,000 suspicious accounts. BC Protege+ prevents the opening of accounts and the inclusion of account holders without authorization and has already responded to 33 million inquiries made by financial institutions.
BLOCKCHAIN/CRYPTO NEWS
📈 Visa analytics across six crypto cards show spend volume rising from $14 million at the start of 2025 to $91 million by year-end, a 550% increase that underscores the growing role of crypto and stablecoins within Visa’s payments ecosystem.
🇺🇸 Ripple reaffirms no IPO plans, citing strong balance sheet and growth focus. Ripple President Monica Long said the company has no plans to pursue an IPO, emphasizing its robust financial position and preference for expanding privately through acquisitions and product development.
🇬🇧 Lloyds Bank completes the UK’s first gilt purchase using tokenized deposits. The purchase illustrates how tokenization can transform traditional banking, turning real-world assets into digital forms that can be purchased, sold, or transferred instantly, Lloyds said in a press release.
🇺🇸 Jupiter launches Native Stablecoin JupUSD, backed by BlackRock‑Linked Assets. The move highlights growing competition among stablecoin issuers on reserve quality, transparency, and yield generation, while enabling DeFi-native use across trading and lending.
🇺🇸 Coinbase research chief warns 33% of Bitcoin supply faces quantum risk. David Duong, Global Head of Investment Research at Coinbase, warned that about 32.7% of Bitcoin’s total supply could be vulnerable to future quantum computing attacks, citing analysis based on research from Project 11.
🇺🇸 J.P. Morgan’s JPM Coin set for native issuance on Canton blockchain. This innovation helps meet the growing demand from both digitally native and traditional firms seeking faster, easier, and more secure money movement on public blockchain infrastructure.
🌎 Tether launches Scudo Denomination to enable everyday XAUt gold payments. It is a gold-backed crypto, which represents the ownership of physical gold. As gold prices have reached record highs, Tether aimed for everyday payments in gold, expanding its token use case beyond a traditional store of value.
PARTNERSHIPS
🇺🇸 Nuvei and FreedomPay announce partnership to unify enterprise payments globally. By integrating FreedomPay's platform with Nuvei's scalable payments infrastructure, merchants gain a single solution for creating frictionless checkout experiences that are secure, connected, and insight-driven.
🇺🇸 Crypto.com and Stripe partner to enable better crypto payments. Crypto.com is the first cryptocurrency platform to be integrated with Stripe for direct payments from a balance. Now customers will be able to check out and pay with their preferred cryptocurrency, in addition to the ability to pay with stablecoins.
🇰🇷 Crypto.com and Kyobo Lifeplanet collaborate to accelerate digital asset adoption in Korea. The partnership will explore new ways to expand access to digital assets and enhance customer value through integrated, digital‑first financial experiences.
🇺🇸 Modulr expands to the U.S. with FIS partnership to power real-time payments for banks. This partnership builds on FIS’s broader modernization strategy, reinforcing its commitment to simplifying and optimizing how money moves across the entire money lifecycle.
🇸🇬 10x Banking & audax join forces to speed bank upgrades. The companies intend to target banks seeking to launch new digital propositions while upgrading legacy systems incrementally, rather than through large-scale replacements. Keep reading
🇺🇸 Fiserv and Wink partner to bring biometric payments to Clover platform. The partnership will incorporate Wink's face and palm recognition technology into Clover's payment system, allowing merchants to offer checkout experiences that use biometric authentication instead of physical payment cards or devices.
🇨🇦 Tether and Rumble launch Rumble Wallet, bringing self-custodial crypto payments to millions of creators and users. At launch, Rumble Wallet supports Tether USD, Tether Gold, and Bitcoin, allowing audiences to tip creators natively in crypto and to make direct, borderless payments without relying on traditional financial intermediaries.
DONEDEAL FUNDING NEWS
🇺🇸 Barclays has invested in Ubyx as tokenized infrastructure advances. Ubyx is building a common settlement framework to enable tokenized money to move between issuers and institutions, supporting the exchange and redemption of tokenized funds at par value.
🇧🇪 FinTech Payhawk seeks $2 billion valuation in funding round. The company is in talks to raise more than $100 million. The talks are at an early stage, and the financing and valuation figures could change. Read more
M&A
🇹🇷 Revolut in talks to buy digital bank FUPS for Turkey debut. In the event of an agreement between the two banks, the acquisition will be subject to approval by the Turkish banking regulator, known by its Turkish initials BDDK. Read more
🇬🇧 SmartSearch Completes acquisition of Credas to enhance digital compliance solutions. The combined business will deliver enhanced flexibility and innovation, helping regulated firms across sectors such as financial services, legal, accountancy, property, and insurance to manage risk and meet evolving KYC and AML requirements.
🇦🇪 Zilch buys Lithuanian lender Fjord Bank to secure European banking licence. An EU banking licence will enable Zilch to passport consumer credit products across all of the countries by giving notice to each regulator. Continue reading
🇺🇸 SmartMoving acquires Remedy Payments to bring profit-focused payments into the core platform. By combining Remedy’s payments infrastructure with SmartMoving’s operational system of record, payments can be connected directly to how jobs are sold, scheduled, and completed.
🇺🇸 Fireblocks acquires crypto accounting platform TRES in $130M cash and equity deal. The acquisition aims to expand Fireblocks’ infrastructure to meet rising compliance and operational demands from enterprise clients. Keep reading
MOVERS AND SHAKERS
🇺🇸 Panacea Financial strengthens executive team to power next phase of scaled growth. Panacea Financial announced the appointments of Anna Khayet as Chief Marketing Officer, Robin Garrison as Chief Compliance Officer, and Tal Frank as Head of Student Financial Services.
🇬🇧 Cred appoints Matt Trueman as CEO. Trueman will be responsible for significantly scaling up new accounts and lending in 2026, expanding the reach of Cred’s industry-leading Credit on Demand proposition. In addition to this, Trueman will lead the development of Cred’s AI-powered credit co-pilot.
🇮🇳 Shalini Pillai Banerjee quits Microsoft to join Pine Labs as CMO. At Pine Labs, Banerjee is expected to bring her blend of large-scale brand-building experience to a company navigating intensifying competition in the fast-evolving digital payments market.
🇦🇪 Binance names Tarik Erk its Regional Head for MENAT and Senior Exec Officer, Abu Dhabi. Erk brings more than a decade of experience spanning regulatory compliance, market expansion, product launches, and government affairs across the digital asset and financial services sectors.
🇧🇷 Stone has appointed Mateus Scherer as CEO. According to Stone, the changes maintain the focus on continuity and execution from recent years. As the company enters its next chapter, it remains focused on disciplined execution, strong governance, and creating long-term value for shareholders.
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