January 2025 – Page 94

Klarna to Implement AI Technology, Reducing Workforce by Half

Klarna reported a 27% revenue increase in the first half of 2024, driven primarily by its significant implementation of AI. CEO Sebastian Siemiatkowski indicated that...

Former Revolut Executives Launch Digital Wallet

A group of former staff from Revolut, Coinbase, and Spotify has launched Zeal, a digital wallet designed for managing cryptocurrency and interacting with web3 and...

Blockchain Organizations File Lawsuit Against US IRS Over New DeFi Regulations

The US Internal Revenue Service (IRS) and Treasury are being sued by several blockchain trade groups in response to new regulations for crypto brokers. The...

WhatsApp Pay Now Accessible to All Users in India

Meta-owned WhatsApp has received approval to launch its peer-to-peer (P2P) payments service for all users in India. Leveraging India's Unified Payments Interface, WhatsApp Pay allows...

Uzbek Mobile Bank TBC Secures $10 Million Funding from Impact Investor responsAbility

TBC Bank is looking to expand its microlending business and enhance financial inclusion in Uzbekistan, the largest country by population in Central Asia. The bank,...

Swift Chosen to Develop National Confirmation of Payee Service in Australia

Financial messaging co-operative Swift has been engaged by Australian Payments Plus (AP+) to develop a confirmation of payee service aimed at mitigating the risk of...

Barclays Makes Investment in WealthOS

Barclays has led a £2 million seed funding round for WealthOS, a cloud-native and API-driven core wealthtech startup. The round also saw participation from VC...

EU Achieves Political Consensus on Cryptocurrency Capital Regulations

The European Union has reached a "political agreement" on new capital adequacy rules for banks regarding digital assets. The announcement was made by the European...

Amazon Backs Indian BNPL Company Axio with $20 Million Investment

Indian buy now, pay later firm Axio has secured a $20 million equity investment from Amazon's Smbhav Venture Fund. Axio was formed through the merger...

Wealthtech Prosper Unveils Crowdfunding Initiative

Prosper, a UK wealthtech company founded by alumni of Tandem and Nutmeg, has initiated a crowdfunding campaign on Crowdcube. The startup aims to follow in...