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Hello TWIF UK & Europe friends,
Please find another week of fintech news, financings and exits below.
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Funding 💸
Highlights below of deals since the last post in the fintech space across the UK & Europe. Deal data powered by Dealroom.
🇬🇧 SMB lender Propel Finance has raised £1.5bn in funding to support businesses in UK.
🇬🇧 Open banking payment provider Yaspa raised a $12m round from Techstars, Metavallon VC and Discerning Capital.
Challenger Banking 🚀
🇪🇺 French business bank Qonto has applied for a French banking licence.
🇬🇧 Credit card startup Yonder is launching premium debit cards.
🇬🇧 Cross-border transfer provider Wise has applied for a national trust bank charter.
🌍A group of tech billionaire s launching Erebor, a new bank to fill the void left by SVB.
Digital Assets ₿
🇪🇺 Stablecoin infrastructure provider Paxos has launched its USDG stablecoin in Europe.
🇪🇺Crypto exchange Gemini has launched tokenized stocks in Europe.
🇪🇺Crypto exchange Bitvavo has secured a MiCA license in Netherlands.
🇪🇺 Kraken and Bybit launched tokenized stocks powered by Backed Finance.
🇪🇺 Deutsche Bank is to launch a crypto custody service in 2026 in partnership with Bitpanda. German banking group Sparkassen will also add a crypto trading service.
🇪🇺 UniCredit will offer a new product tied to BlackRock's Bitcoin ETF according to Bloomberg.
🇪🇺 Deutsche Bank, Galaxy Digital and Flow Traders will launch a German-regulated stablecoin.
🇪🇺 Italian bank Banca Sella is internally trialling a stablecoin custody pilot with Fireblocks.
🌍 Stablecoin issuer Circle has applied for a national trust bank charter to oversee its USDC reserves. It is also to launch Gateway, a way to unify USDC balances across multiple blockchains.
🌍 Robinhood has launched tokenised stocks and its own blockchain.
🌍 Coinbase is to offer perpetual-style futures in the US later in July. It also acquired token management platform LiquiFi.
🌍 Digital asset custodian Anchorage is to stop supporting USDC and AUSD whilst continuing to support its own stablecoin, USDG.
🌍 Digital asset market maker Wintermute secured a bitcoin credit line from Cantor Fitzgerald.
🌍 Ripple has also applied for a a national banking licence.
🌍 Tokenization platform Ondo Finance is to acquire SEC broker Oasis Pro.
Traditional Banking 🏦
🇪🇺 Banco Sabadell sold its TSB unit to Santander for £2.85bn..
Fintech Infrastructure 🚧
🇬🇧 Open banking platform Tink signed wealthtech Chip as a customer for its PIS products.
🇬🇧 Payments infrastructure provider OpenPayd is to collaborate with Ripple.
Payments 💰
🇪🇺 Belgian authorities have opened an investigation into Worldline after earlier allegations about money laundering.
🇪🇺 Viva has launched Tap to Pay on iPhone in Spain.
🇬🇧Open banking platform TrueLayer is launching its Pay by Bank offering in France and Germany through a partnership with Stripe.
🌍 Affirm is partnering with a company that providers in-game payments.
🌍 Early Warning, the bank owned group that owns Zelle, have been pitching it to the Treasury department as a replacement for checks.
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