Weekly News Highlights – 26 August 2021

This week’s fintech news has been marked by new developments in terms of crypto, partnerships deals, payments and NFT. Discover the latest updates and enjoy the materials!

PayPal brings crypto services to the UK (Finextra)

PayPal‘s millions of users in the UK can now buy, hold and sell cryptocurrency, although the company is stressing that Brits should research the risks involved. The UK is the second country where PayPal is offering the crypto service, following the US, where it launched earlier this year. Read more

Paysafe to Acquire viafintech (Business Wire)

Paysafe, a leading specialized payments platform, announced that it has signed a definitive agreement to acquire market-leading German fintech company, viafintech, in an all-cash transaction. For Paysafe, this latest acquisition not only boosts its growth opportunities in Germany, a critical market for its international merchants, it also creates revenue-generating opportunities to cross-sell viafintech’s alternative banking and payments solutions to its merchants around the world. Read more

Amazon’s fintech deal a ‘wakeup call’ for wealth managers (Money Marketing)

Amazon has invested in Indian fintech start-up Smallcase, laying the foundations for an incursion into the wealth management space. The investment was made as part of a $40m (€34m) Series C funding round, led by Faering Capital. Read more.

Brazilian FinTech Nubank Readies For IPO, Valuation Could Top $55B (PYMNTS)

Nubank, a Brazil-based FinTech that has amassed more than 40 million clients in Latin America in part by looking for business among constituencies ignored by traditional banks, could be worth more than $55 billion (€46.8b) when it holds a planned initial public offering (IPO). Read more.

New banking challenger W1tty secures UK license (altfi)

Despite concerns the neo banking space is overcrowded, a number of new challengers are launching into the UK market . W1tty, a new fintech app, has secured an electronic money institution (EMI) license from the UK’s Financial Conduct Authority (FCA), ahead of a launch in 2022. Read more.

Google ties up with fintech to let its users open FDs on GPay (The Mint)

Google has teamed up with Setu, a fintech specializing in providing application programming interfaces (APIs), to allow its users to book fixed deposits (FDs) through Google Pay. Setu has already created a beta version for the API. Read more.  

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