December 2024 – Page 67

Removal of BaFin Restrictions Fuels Growth at N26

The lifting of restrictions by German watchdog BaFin on N26 has resulted in a substantial increase in demand, allowing the digital lender to achieve its...

Sweden’s Riksbank Advocates for Upgrading Retail Payments Infrastructure

Sweden's central bank has announced the need for modernization of the country's retail payment infrastructure to support more instant payments and provide third-party access to...

CFPB Broadens Oversight of Major Tech Payment Applications

The Consumer Financial Protection Bureau (CFPB) has finalized a rule that will enable it to oversee major tech companies like Apple and Google that provide...

Hong Kong Monetary Authority Imposes HK$4 Million Fine on Fubon Bank

Fubon Bank has been fined HK$4 million by the Hong Kong Monetary Authority (HKMA) for breaching the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). The...

Zopa Secures £68 Million in Equity Investment

The funding will drive growth in anticipation of Zopa's flagship current account and GenAI offering set to launch in 2025. The latest funding round was...

Esma Urges Migration to EU T+1 Settlement by 2027

The European Securities and Markets Authority (ESMA) has proposed that the EU transition to a T+1 settlement cycle by October 2027, coordinating efforts with the...

CFTC Advocates for Expanded Use of Non-Cash Collateral via DLT

The Commodity Futures Trading Commission (CFTC) has recommended expanding the use of non-cash collateral via distributed ledger technology (DLT) through its Global Markets Advisory Committee...

Qash Emerges from Stealth Mode and Launches in Colombia

Qash, a Dutch financial inclusion startup, has launched in Colombia with a stablecoin-linked credit card designed for volatile economies. The startup, backed by Antler with...

Crypto Ownership in the UK Sees Steady Increase

According to research from the Financial Conduct Authority, more than one in ten Brits now own cryptocurrency. The regulator reports that 12% of UK adults...

MPs Deliver Scathing Criticism of the FCA

An All Party Parliamentary Group (APPG) of UK MPs has criticized the Financial Conduct Authority (FCA), labeling it as 'incompetent at best, dishonest at worst'...