Plaid’s IPO Clock Is Ticking, But on Its Own Terms
Hey FinTech Fanatic!
After years of speculation, Plaid’s next big move seems less about “if” and more about “when”.
Plaid’s CFO said the FinTech, best known for connecting users’ bank accounts to other apps, has “earned the right to pick our time” for a public debut.
A bold statement that reflects not just profitability, but endurance in a FinTech market that’s seen its share of turbulence.
As IPO preparations continue, Seun Sodipo, the company’s CFO, is focused on growth, and the FinTech company is seeing results: Annual recurring revenue last year climbed 40% from the year earlier, to more than $500 million.
Plaid has shown financial maturity and patience amid shifting market sentiment. Their timing could set the tone for the next wave of FinTech IPOs.
👇Scroll down to read what else is moving in FinTech today.
Cheers,
INSIGHTS
🌍 Four Different Types of FinTech Markets in Africa.
FINTECH NEWS
🇺🇸 Kalshi secures license to offer margin trading to institutional investors. The license allows it to operate as a futures commission merchant. The move is designed to make Kalshi more appealing to institutional investors, and could be rolled out first for new products rather than core event contracts.
🇺🇸 Plaid CFO, Seun Sodipo, says FinTech company has earned the right to ‘pick our time’ for IPO. As IPO preparations continue, Sodipo is focused on growth, and the FinTech company is seeing results: Annual recurring revenue last year climbed 40% from the year earlier, to more than $500 million, according to Plaid.
PAYMENTS NEWS
🇩🇪 DashDevs took the stage at Merchant Payments Ecosystem 2026 in Berlin, where CEO Igor Tomych joined a panel on open banking and interoperability. The session explored regulation, AI’s impact on finance, and the challenges of achieving seamless data exchange across financial ecosystems.
🇷🇺 Visa is applying for trademark registration in the Russian Federation. Visa filed trademark applications in Russia to protect its brand and technologies, but a return to the market remains unlikely in the near term due to ongoing U.S. sanctions and regulatory barriers.
🇺🇸 Visa and payment firms warned by US regulator on debanking concern. The move comes amid growing scrutiny over “debanking” practices and concerns about access to financial services. Read more
🌏 Cambodia and Singapore complete full interoperability of cross-border QR payment linkage. The service allows users to view transparent foreign exchange rates before confirming payment, ensuring clarity and confidence in every transaction. Payments are completed instantly without the need for cash exchange.
🇷🇺 Russia orders mobile operators to disable Apple account payments to limit VPN access. The measure is intended to limit Russians’ ability to pay for VPN services, which are widely used to bypass internet restrictions. Continue reading
🇬🇧 PayPoint splits its business into four independent units, with clearly defined operating structures, a greater focus on growth opportunities, and a more accountable operating culture. This will enable a more focused portfolio of businesses and better harness the Group’s collective capabilities.
DIGITAL BANKING NEWS
🇵🇭 UNO Digital Bank achieves milestone, breaks even in February. The bank has expanded credit access in the Philippines through real-time underwriting and strong risk management, while continuing to scale its loan portfolio and digital payment services.
🇧🇷 Brazilian company BTG suffers an attempted hacker attack and suspends operations with Pix. BTG said in a statement that it identified unusual activity related to Pix on Sunday morning. The bank clarifies that there was no access to customer accounts and that account holders’ data was not exposed.
🇺🇸 Wells Fargo reaches major digital milestones, underscoring growing customer adoption of its mobile banking platform and AI‑powered virtual assistant, Fargo®. Fargo has now supported customers through more than 1 billion interactions, achieved in less than three years since its launch.
🇬🇧 Wise launches UK current account to take on high street banks. Designed for people with international needs, the new current account comes with a Travel Hub. It includes a new Airport Lounge Pass feature to make international travel more convenient. Customers in the UK and other select markets can now purchase a one-off lounge access pass in a few clicks within their Wise app.
BLOCKCHAIN/CRYPTO NEWS
🇺🇸 Coinbase XRP listing scandal resurfaces as fee claims ignite new fallout. Coinbase is facing renewed scrutiny over its listing of XRP, following allegations that the exchange may have requested listing fees, claims it has previously denied. The debate has reignited broader concerns about transparency in token listing practices across the crypto industry.
🇺🇸 Ripple turns to AI to stress-test the XRP Ledger as institutional use cases scale. Ripple is prioritizing security by dedicating the next XRPL release solely to fixes and hardening, tightening amendment standards, and expanding collaboration and audits as it pursues larger institutional and real-world asset use cases.
🇺🇸 Binance Pay reaches 21m+ merchants signaling mainstream shift in crypto payments. Binance Pay enables transfers without gas fees, allowing users to send funds directly while selecting preferred assets or adjusting payment order during checkout.
PARTNERSHIPS
🌎 VaulFi and Noah launch first direct-to-bank stablecoin bridge for North Africa. The partnership leverages Noah’s regulated settlement engine to provide VaulFi users with dedicated virtual bank accounts. The collaboration replaces slow, costly traditional transfers with real-time settlement into digital euros and dollars.
🇺🇸 Wirex and Crossmint announce card integration to connect stablecoin wallets and real-world spending. The two companies have directly connected Crossmint's smart wallet and stablecoin orchestration infrastructure with Wirex's card issuance platform, giving FinTechs a single connected stack that takes users from stablecoin balance to real-world spending.
DONEDEAL FUNDING NEWS
💰 Over the last week, there were eight FinTech deals in Europe, totaling €66.9m in disclosed funding, including four transactions in the UK, one in France, one in Germany, one in Ireland, and one in Sweden.
🇨🇴 Cifrato raises over $1m seed round. The funds will be used to strengthen operations in Colombia, expand integrations with ERP and POS systems, and develop new AI-powered features, such as bank reconciliation. Read more
🇺🇸 Astriax receives $30m investment from Wintermute to advance AI-led on-chain trading. The participation of Wintermute also plays a crucial role as such a strategic backing often delivers capital and market expertise along with technical collaboration and liquidity insights
🇬🇧 Maven North East Strengthens Support for FinTech Specialist, Kani. The transaction will enable Kani to invest in new product development to prepare for upcoming regulations requiring firms to provide audit-ready reconciliation of client funds across the UK and global payments markets.
🇩🇪 Midas closes $50M Series A to scale on-chain investment products. The funding will support further development of MSL within an open liquidity architecture designed to enable instant redemptions across on-chain investment products. Continue reading
🇺🇸 Skillsvest raises Rs 5.5 Cr pre-seed round led by Plug and Play Ventures. The proceeds will be used to scale student financing, strengthen regulatory readiness, and expand partnerships. Skillsvest offers a “pay only if you earn” model for students pursuing international master’s programmes.
🇺🇸 Ex-Blackstone staffers raise $25 million for startup Valinor, which aims to put private credit on the blockchain. The firm plans to use the new injection of capital to hand out more loans to more customers and hire more staff. Keep reading
🇰🇪 Kenya-Based FinTech Startup 4G Capital raises $2m to expand SME lending and financial inclusion across East Africa. This financial boost will empower 4G Capital to enhance its proprietary “touch-tech” model, an innovative approach that merges digital lending platforms with the essential human support provided by local field officers.
M&A
🇵🇱 SIBS has completed the acquisition of ITCARD after obtaining all the necessary regulatory approvals in Poland. The operation will allow SIBS to strengthen its omnichannel solutions offering, combining expertise across the entire payments value chain and consolidate its position as one of the leading international players in the sector.
MOVERS AND SHAKERS
🇺🇸 Nino Galluzzo has joined Tempo as Creative Director. Galluzzo has joined Tempo to lead creative and brand, marking a new chapter as the Stripe- and Paradigm-incubated company builds out its vision and identity.
🇦🇺 EML Payments appoints Adam Olding as Global CEO. With over 25 years of experience in payments, financial services, and corporate governance, Olding brings a wealth of expertise to the position. In his new capacity, Olding will assume responsibility for day-to-day management and lead the executive leadership team in executing the company's growth priorities.
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