Weekly News Highlights - 16 September 2021

Weekly News Highlights – 16 September 2021

New partnerships, acquiring, Bitcoin, crypto and e-wallets  for this week! Absorb the latest insights from fintech and stay up to date with current developments.

Goldman Sachs is acquiring buy now, pay later fintech GreenSky for $2.2 billion (CNBC)
Goldman Sachs is acquiring fintech lender GreenSky for $2.24 billion as the investment bank pushes further into consumer finance. The all-stock deal for GreenSky, called the biggest fintech platform for home improvement loans in a release announcing the deal, is expected to close by the first quarter of 2022. Read more.

MoneyLion to Offer Crypto Investment Ahead of SPAC Merger (The Fintech News)
US-based neobank MoneyLion announced the launch of its new cryptocurrency capabilities, enabling customers to buy and sell digital currencies within its app. MoneyLion said that eligible customers will initially be able to buy and sell Bitcoin and Ethereum, as well as round-up their debit card purchases in Bitcoin. In the coming months, the neobank plans to add more cryptocurrencies and related features to the offering. Read more.

GIC-backed fintech Pagaya to go public via $11.4 billion Spac deal (The Stairs Times)
United States-Israeli fintech Pagaya agreed to go public through a merger with special-purpose acquisition company (Spac) EJF Acquisition Corp in a deal with an enterprise value of US$8.5 billion (S$11.4 billion). The deal will result in gross proceeds of US$288 million from cash held in the blank-cheque firm’s trust and a US$200 million private investment in public equity (PIPE) from entities affiliated with EJF Acquisition. Read more.

Nubank partners with SoftBank-backed lending fintech Creditas (Reuters)
Brazilian financial startup Nubank has formed a partnership with SoftBank-backed lending fintech Creditas to offer loans to its clients. Nubank said it may become a minority shareholder in Creditas with up to a 7.7% stake in the fintech in the next two years. The companies did not disclose the deal value. Read more.

Citi, BNY Mellon and Verizon team on real-time bill payments (Finextra)
Citi has joined forces with BNY Mellon and wireless network operator Verizon to launch a real-time bill payment service for retail customers. Tapping BNY Mellon’s new real-time electronic bill and payment service, Verizon customers with Citibank accounts can now pay their bills immediately, at any time of day, 365 days a year. Read more.

Finastra adds first bitcoin wallet to banking app store (Finextra)
Allied Payment Network has launched a bitcoin wallet app for banks and credit unions on Finastra’s FusionStore. Built with Nydig, the Allied app will enable financial institutions to offer their customers and members the ability to buy, sell and hold bitcoin via a compliant, secure and turnkey platform. Read more.

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