NEWS 01 BANKING CIRCLE: Formerly a financial utility, Banking Circle has received a banking license, making it a financial infrastructure for banking and payments regardless of size and borders. Legacy free systems allow minimal client investment in internal infrastructure.
02 MONZO BANK: A UK based challenger bank has officially launched business bank accounts. After a trial period over the last 12 months that saw early access given to 2,500 business customers. Monzo is offering two versions of its business bank account, a free, and premium paid account, aimed at sole traders and SME’s.
03 REVOLUT LAUNCHES IN THE US: The European fintech startup launched in the US on March 25th partnered with Metropolitan Commercial Bank for banking infrastructure. Some features enjoyed by EU customers aren’t yet available in the US, such as purchasing cryptocurrencies or investing in the stock market.
04 VISA PARTNERS WITH PAGA: Founded in Lagos, Nigeria, Paga has a network of over 14 million customers transferring money, paying bills, and shopping on their mobile app. N ow partnered with Visa and with access to more merchants, Paga aims to expand and implement a model to other emerging markets not only in Africa but also in Asia and Latin-America.
05 INDIA LIFTS BANKING BAN ON CRYPTOCURRENCY: The Supreme Court of India struck down the Reserve Bank of India’s April 6th 2018 circular, citing it as unconstitutional. RBI was concerned over risks relating to foreign exchange, money laundering, and the financing of terrorism.
06 COINBASE A VISA PRINCIPAL MEMBER: Based out of San-Francisco, the crypto exchange can directly issue Visa debit cards. N ow available in 29 countries, and expanding, customers can spend 9 different cryptocurrencies at any Visa acceptance point - for a 1.49% conversion and 1% transaction fee.
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