Real-time cross-border payments are becoming the new norm (TWIF 8/30)

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Below you can read another week full of fintech and banking news. (👍👎 Do you have any feedback for us? Let us know!)

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💼 Fintech job of the week

Sydecar builds tools that take the headache out of organizing private investments for investors, so they can focus on closing deals. The team is looking for a Sr. Tax Manager for $150-175k per year.

Share your job with over 2000 fintech people in our Slack #hiring-and-jobs-channel.

💬Quote of the week

🏦 Financial services and banking

🚀 Product Launches

Singapore’s DBS bank has completed a pilot to use blockchain for programmable disbursements of government subsidies to companies.

British bank NatWest in collaboration with map network Visa to launch a new travel benefits credit card, available to NatWest customers in the UK.

China’s use of the renminbi in cross-border transactions reached record highs this year as the country moves away from its reliance on the dollar:

Commonwealth Bank of Australia has rolled out near real-time cross-border payments for businesses and consumers receiving international payments from U.S. banks BNY.

The UK plans to delay the next wave of banking reforms until January 2026.

📰 Other news

Revolution has signed a global partnership agreement with Visa Direct to offer its customers direct cross-border business transactions with cards.

National Bank customers in the UK were informed that their accelerated payments would be delayed.

TD bank sets aside $2.6 billion to prepare for anti-money laundering sanctions.

What do the FDIC’s proposed rules mean for brokered deposits?

The Federal Deposit Insurance Corporation (FDIC) recently proposed significant changes to the rules governing brokered deposits at U.S. banks. The proposal would specifically change the definition of brokered deposits, making it difficult to come up with a concise legal definition. So a functional definition will have to suffice: The brokered deposits

💻 Fintech

🚀 Product Launches

Banking as a service provider Unit* launched support for wallets, a way for customers to move and store funds for applications that don’t require a traditional bank account.

Business Payments Provider Conotoxia introduced multi-currency cards, which allow payments in over 160 currencies.

European stablecoin payment provider Banking circle launched Eurite, a euro-backed stablecoin.

Canadian business banking platform Safe* launched an automated payment functionality for suppliers, designed to increase payment accuracy with enhanced integrations with accounting software.

Dynasties in the Making: 15 Companies Cultivating Tomorrow’s Fintech Leaders

By Gilgamesh Ventures and the Wharton School of Business Everyone knows about the PayPal Mafia. In addition to changing the way money moves, PayPal has, over the past two decades, spawned several groups of revolutionaries who have reshaped the way finance works, including Elon Musk, Peter Thiel, Max Levchin, Reid Hoffman, and others. But

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📰 Other news

Buy now pay later giant Klarna posted adjusted operating profit of $66.1 million for the first six months of the year; revenue also grew 27% year-over-year. The company continues to expand and replace more business functions with AI.

Meanwhile, the competing BNPL provider To confirm Shares rose 34% and reported a loss of 14 cents per share, while analysts had expected a loss of 51 cents per share.

Now that third parties in Europe are allowed to develop apps that use the iPhone’s contactless NFC payments, PayPal plans to build a mobile wallet with physical payment options for users. PayPal’s stablecoin, PYUSD, also recently surpassed $1 billion in market cap. Here’s our breakdown of the company’s strategy – and where they’re headed next:

PayPal: A Fintech OG Rejoining Fastlane

A detailed look at PayPal’s origins, early success factors, current product stack, latest releases, and reasons to be optimistic. A quick introduction to kick off this special Signals edition: I’m Jas Shah, a reformed engineer and seasoned product guy with about two decades of experience building products for and

🤝 Partnership Corner

Embedded financial platform Liberians works with a buy-now-pay-later provider Sadness to promote Sezzle Capital, which provides loans to small and medium-sized businesses.

👎 The bad news

Prize poolthe provider of a lottery-based savings app, will reportedly be closed.

Kentucky Regional Bank First & People’s Bank faces tens of millions of dollars in loan write-offs over its relationship with fintech American credit.

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