The Front Page of Global Fintech

The largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

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The Front Page of Global Fintech

The the largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

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FTX sells off subsidiary at 95% discount (TWIF 2/18)

FTX sells off subsidiary at 95% discount (TWIF 2/18)
Struggle Inc, Literally Outside

Hello Fintech Friends,

We have a new whitepaper coming out with our partner Visa in the next few weeks, but in the meantime, you can find our latest collaboration, What lies ahead for bank and fintech partnerships? below -

By the way, coming to Fintech Meetup in March? Drop by our Happy Hour with Gainbridge, or our community friend Nicole's Women in Fintech breakfast!

TWIF Vegas Happy Hour with Gainbridge · Luma
Who: Gainbridge and Fintech’s best operators, investors, and founders What: Fintech Happy Hour with an open bar & light bites Where: Restaurant & Bar in The Venetian Resort, Las…
Women in Fintech Breakfast · Luma
Kick off the second day of Fintech Meetup with an exclusive gathering of female FinTech founders, investors, and executives as we take a unique “behind the scenes” look at the ever-changing…

Please find another week of fintech exits and deep reads below. (👍👎 Have feedback for us? Let us know!)

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📖 Reads of the Week

Most of this week's top reads are on payments and – specifically – stablecoins, which helped drive 78% YoY growth in Coinbase's 2023 revenues.

Payfac in 1,000 words
Payfac is the model behind fintech’s biggest successes, from Stripe and Square, to Shopify, Uber, and more. It’s a critical but misunderstood topic, so here’s an explainer in 1,000 words.
The programmable fintech stack
A letter to USDC, Base, & Daimo
Public information and stablecoin runs
We provide a global games framework to study how the promise of par convertibility by various types of stablecoins breaks down.
U.S. Federal Reserve Gov. Waller Says DeFi Could Boost Dollar’s Global Strength
Despite some fears in government circles that crypto could undermine the dollar, the Fed governor said that the use of dollar-dependent stablecoins can boost the dollar’s reach.
Making Sense of Tether on Tron
CardsFTW #92: Traditional Programs, Modern Platforms
Plus, why did Expensify send me a card?

☯️ Exits
🤝 M&A - Fintech
  • Enterprise blcokchain and crypto provider Ripple announced that it has agreed to acquire Standard Custody & Trust Company, a regulated platform for digital assets, to expand its licenses.
  • Bankrupt crypto exchange FTX's debtors estate filed to sell its subsidiary Digital Custody, which it acquired in 2022 for $10 million, to CoinList for $500,000.
  • Israeli HR management platform HiBob will acquire the UK's Pento, which specializes in cloud-based payroll systems, for $40 million in stock and cash.
  • Avenu, a provider of revenue recovery and administrative solutions for state and local governments, will acquire Judicial Innovations, a provider of cloud-based payment and case management solutions.
  • Private equity firm Nordic Capital will acquire Zafin, a Canadian core modernisation and transformation SaaS for banks and credit unions.
  • Virgin Money will take full ownership of its own digital wealth management platform, buying out joint investor abrdn for £20 million.
  • American global electronic payment services provider Euronet will acquire Infinitium, a digital payments company and provider of risk management and payments authentication services based in Singapore.
  • Global consulting firm Oliver Wyman reached an agreement to buy Innopay, a leading consultancy specialised in digital transactions.
  • Stockpile, a financial learning platform for kids and parents, acquired the tech and IP of Investables, an alternative investing platform.
  • Carbon, a pan-African banking provider for small businesses, acquired Vella, an American provider of cross-border payments, crypto transactions, and SMB banking for Africans.
  • American payments provider Global Payments is close to acquiring Takepayments, which provides payment services for UK merchants, and which generated revenues of £52.7 million, for over $250 million.

🏦 M&A - Bank and FinServ
  • UK bank Barclays is in the early stages of considering a bid for Société Générale's UK private bank.

🌎 Fintech Around the World

China travel: cashless-society shift hits foreign tourists who really want to open wallets and spend

Navigating the Fintech Wave, From Santiago to Global Success

Africa: where payments are unlocking digital commerce

Africa-focused funds find their feet amid a downturn

Unfinished Business: Herbert Wigwe and the story of Nigerian banking

📚 Deeper Reads & Features

A dating app with credit scores: what’s not to love?

Do A2A Payments Make Sense for Retail?

Payments startups face pivotal year

The ultimate guide to willingness-to-pay

The Forbes Fintech 50

CLEAR’s Approach to Reusable Identity in Financial Services

Older Americans demonstrate more digital financial literacy than younger peers

Klarna’s CEO embraced AI by telling OpenAI’s Sam Altman, “I want Klarna to be your favorite guinea pig”

JPMorgan Chase Is Adding Branches—The Rest Of The Industry Shouldn’t

Sequoia is pressuring its former leader to leave his Klarna board seat

European banks are challenging the challengers

If You Could Send Money To A Blue Tick, I Might Just Get One

Why fintechs want the CFPB—not states—to rule on earned wage access

Will 2024 Be The Year That Generative AI Comes To Financial Services?

Dog Owner Frantic Over Missing Senior Pet Finds 'Popular' Pup Making Friends at a Milwaukee Bar

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