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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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Real-time cross-border payments are becoming the new norm (TWIF 8/30)

Real-time cross-border payments are becoming the new norm (TWIF 8/30)
The Grand Tetons at Sunrise, Bandito_Zoidberg

Hello Fintech Friends,

You’re joining 123,000+ other subscribers with impeccable fintech taste.

We're always looking for more great guest writers at TWIF. If you have a burning passion on a particular fintech topic, let us know! We'd love to feature the most interesting ones.

Also – one of my portfolio co's is looking for a Head of Engineering in NYC, focused on B2B sales to banks. Let me know if anyone great comes to mind.

It's almost fall, which for me means time for Unite Summit, MX's Money Experience, Money2020, and TechCrunch Disrupt. What other fintech conference should be on that list?

Please enjoy another week of fintech and banking news below. (👍👎 Have feedback for us? Let us know!)


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💼 Fintech Job of the Week

Sydecar builds tools that remove the headache of organizing private investments for investors so they can focus on making deals. The team is looking to hire a Sr. Tax Manager for $150-175k per year.

Share your job with 2,000+ fintech people in our Slack #hiring-and-jobs channel.

💬 Quote of the Week

🏦 Financial Services & Banking
🚀 Product Launches

Singapore's DBS Bank completed a pilot to use blockchain for programmable government grant disbursements to businesses.

British bank NatWest partnered with card network Visa to launch a new travel rewards credit card, available in the UK for NatWest customers.

China’s use of the renminbi in cross-border transactions reached record highs this year, as it diversifies away from the dollar:

Commonwealth Bank of Australia rolled out near real-time cross-border payments to businesses and consumers receiving international payments from American bank BNY.

The UK plans to delay its next wave of bank reforms until January 2026.

📰 Other News

Revolut signed a global partnership agreement with Visa Direct to offer its customers instant card-based cross-border business transactions.

Nationwide banking customers in the UK were notified that their faster payments will be delayed.

TD Bank is provisioning $2.6 billion in anticipation of anti-money laundering penalties.

What’s the deal with the FDIC’s proposed brokered deposits rules?
The Federal Deposit Insurance Corporation (FDIC) recently proposed significant changes to the rules governing “brokered deposits” at US banks. Specifically, the proposal would change the definition of “brokered deposits,” making it difficult to come up with a succinct legal definition. So a functional definition will have to do: The brokered

💻 Fintech
🚀 Product Launches

Banking-as-a-service provider Unit* launched support for wallets, a way for customers to move and store money for use cases that do not require a traditional bank account.

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Business payments provider Conotoxia introduced multi-currency cards, which can be used to pay in more than 160 currencies.

European stablecoin payments provider Banking Circle launched Eurite, a euro-backed stablecoin.

Canadian business banking platform Vault* launched automated vendor payment functionality designed to increase payment accuracy with enhanced accounting software integrations.

Dynasties in the Making: 15 Companies Cultivating Tomorrow’s Fintech Leaders
By Gilgamesh Ventures and the Wharton School of Business Everyone knows about the PayPal Mafia. Beyond changing how money moves, in the last two decades PayPal has propelled several cohorts of revolutionaries that have reshaped how finance works, including Elon Musk, Peter Thiel, Max Levchin, Reid Hoffman, and others. But

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📰 Other News

Buy-now-pay-later giant Klarna made an adjusted operating profit of $66.1 million in the first six months of the year; revenue also grew 27% year-over year. The company continues to augment and replace more business functions using AI.

Meanwhile, rival BNPL provider Affirm's shares jumped 34% as it reported a per-share loss of 14 cents, while analysts were expecting a loss of 51 cents per share.

Now that third-parties are allowed to develop apps that leverage the iPhone's contactless NFC payments in Europe, PayPal plans to build a mobile wallet with physical payments capabilities for users. PayPal's stablecoin, the PYUSD, also recently crossed $1 billion in market cap. You can see our breakdown of the company's strategy – and where they're headed next – below:

PayPal: A Fintech OG rejoining the Fastlane
A detailed look at PayPal’s origins, early success factors, current product stack, latest releases and reasons to be bullish A quick intro to kick this special Signals edition off: I’m Jas Shah, a reformed engineer and longtime product guy with around two decades of experience building products for and
🤝 Partnership Corner

Embedded finance platform Liberis is partnering with buy-now-pay-later provider Sezzle to promote Sezzle Capital, which makes loans to small to medium-sized businesses.

👎 The Bad News

PrizePool, the provider of a lottery-based savings app, will reportedly shut down.

Kentucky regional bank First & Peoples Bank is facing tens of millions of dollars in loan write-downs from its relationship with fintech US Credit.


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