X has been snapping up money transmitter licenses in a number of U.S. states

X has been snapping up money transmitter licenses in a number of U.S. states

Happy Monday FinTech Fanatic,

Let’s start the week with a new episode in Elon Musk’s quest to make X, the social media platform formerly know as Twitter, the ultimate super app.

It seems his journey continues as news broke X has been snapping up money transmitter licenses in a number of U.S. states.

The new payment licences from the states of Arizona, Georgia, Mayland, Michigan, Missouri, New Hampshire and Rhode Island are among the first steps to be taken in a bid to launch its own payment features and thus to realise Elon’s vision to emulate his first business Paypal.

To be continued….

Zilch eyes London IPO

While BNPL grabbed headlines last week, with most notable Klarna announcing its H1 2023 results, Buy Now, Pay Later firm Zilch is exploring options for an initial public offering.

CEO Philip Belamant confirmed the Victoria-based FinTech edges closer to profitability and Zilch has had conversations with officials from the London Stock Exchange as well as the New York Stock Exchange and the US-based Nasdaq, with a decision on where to list yet to be taken.

To be continued, as well…

UPI passes the mark of 10 billion transactions per month

Last, but not least it’s worth mentioning a milestone for Unified Payments Interface (UPI). The instant payments system developed in India by the National Payments Corporation of India (NPCI), has crossed 10 billion transactions for the first time on a monthly basis.

Impressive numbers, to say the least. I wish you the best week ahead and please find the other FinTech news listed below!


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Mercado Pago introduces a new Visa credit card targeted at supporting SMEs in Brazil. This initiative will benefit sellers who are already using Mercado Pago's debit card by offering them an additional credit line starting in September.

Fintech Upgrade moves into auto loans as many banks abandon them. Upgrade plans to target “all types of consumers,” including those with FICO scores as low as 580, the San Francisco-based company said in a statement.


Nubank’s “Caixinhas” Reaches 8.6M Clients in H1 2023. Approximately one year after its launch, it has already established itself as one of the “favorite” investment solutions among the platform’s customers.

Moniepoint hits $12 billion monthly transaction value. Moniepoint currently serves over 1.6 million businesses, and going into personal banking, the fintech is targeting at least 4.8 million retail customers in the first three months.

Deutsche Bank reportedly makes contact with digital investment FinTech Scalable Capital over a potential investment or partnership deal. Neither Deutsche Bank nor Scalable Capital have confirmed the talks.


Robinhood revealed to be third-largest Bitcoin holder with $3B in BTC. This massive accumulation of cryptocurrency catapults Robinhood to the position of the third-largest holder of Bitcoin. The firm also has finalized a deal to repurchase Bankman-Fried’s stake for $605.7 million from U.S. government.


ZeroPay rolls out Alipay+ across South Korea. The partnership will empower Korean merchants, including small businesses, to cater to international tourists, expanding their reach to over 1.4 billion customers from China and Southeast Asia.

Clara has teamed up with Colombia's National Guarantee Fund (FNG) to expand credit access for various businesses in Colombia. This partnership aims to reduce the risk of loan defaults and boost profitability for businesses.

Circle partners with Mercado Pago to launch USDC in Chile. The partnership aligns with Latin America's growing prominence in digital finance, driven by a strong developer community, support for financial innovation, and increasing demand for digital currency as a reliable store of value.

Mangopay and Spryker collaborate to revolutionise online platform development. The collaboration seeks to empower businesses in constructing flawless marketplaces — encapsulating everything from seller onboarding to the crucial payment processing.


CarroYa, a comprehensive mobility platform under Grupo Aval, has acquired FacilPass for $21 million. With this acquisition, CarroYa aims to integrate all of FacilPass’s services into its own app. The goal is to offer customers a seamless, cashless experience for all their mobility-related transactions.


Qashier secures $10m to take POS offerings worldwide. This strategic move is anticipated to significantly boost Qashier’s footprint in the global payments landscape. Read more

OneID secures £1M for bank-verified digital identification in UK. The investment will be used to develop its product further and bolster its mission to make the world a safer place by helping people prove who they are online easily and securely.


N26 CPO Gilles BianRosa steps down, becomes supervisory board member. Until a new CPO is appointed, BianRosa’s responsibilities will be handed over to other leaders in the product team. Read more

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