Coinbase's CEO warns investors of a long crypto winter lasting longer than 12 or 18 months. Armstrong hinted that while he hopes the bear market wraps up in that time, the largest U.S. crypto exchange is preparing for an even more extensive downturn. Link here
Zip’s loss widens as inflation chokes. BNPL operators have seen their valuations collapse as reduced customer spending and rising interest rates have squeezed margins. Link here
Solarvest unveils the first renewable energy fintech platform in Malaysia. Powervest aims to create a digitalised experience for its clients, enabling a seamless onboarding process. Link here
Belfrics launched its operation in Mexico, serving the country’s growing blockchain, crypto, and digital asset market. Introducing a blockchain-based wallet and remittance solution. Link here
Ripio’s prepaid crypto card launched in Brazil. Payments can be made in any of 28 different cryptocurrencies, and the debit card also offers 5% cashback rewards in bitcoin. Link here
Webx and Paymob will be launching Webx Pay in Pakistan. WebxPay guarantees to cut the merchant’s payment setup time by offering access to comprehensive payment services. Link here
India lifts its ban on AmEx issuing new cards. The firm has now demonstrated "satisfactory compliance" and the restrictions have been lifted immediately. Link here
Visa issued over 4B in network tokens through its security technology Visa Token Service, outpacing the total number of its physical cards in circulation. Link here
Mastercard partnered with Binance. The “Binance Card” will be able to be used in more than 90 million stores where Mastercard is accepted, both in-store and online. Link here
GHL partnered with Ablr to offer BNPL services. Through this, GHL’s merchant network can provide businesses and consumers with additional flexible payment options. Link here.
South Koreans have grown technologically. Koreans leveraging mobile financial services increased to 65% in 2021, up from 57.1% before the pandemic. Link here
Top Investors in European FinTech 2022. This list covers investments in the following sectors: InsurTech, PropTech, Blockchain & Crypto, WealthTech, PayTech, RegTech, etc. Link here
The Global AI market size is expected to reach $4B. AI is widely used in fin organizations to improvise their precision levels and instant query resolving through digital banking channels. Link here
SME lender Capital on Tap secured £200 million. Capital on Tap has more than 200,000 users that have spent over £4BN. The facility comes shortly after the fintech was given a £153.6M investment. Link here
SageWealth raised €500K in a pre-seed round. The start-up’s digital wealth platform is explicitly sustainability-focused and aimed at the Millenial and Gen Z demographics. Link here
Deel launched Instant Card Transfer for contractor payments. Deel now offers contractors in certain countries the option to get paid instantly and directly to their bank accounts using their cards. Link here
TajBank is to launch a digital banking app developed by Nigerian software engineers to attract more customers to its platforms as it seeks to grow its operations. Link here
Atom Bank says its 4-day work week was great. After becoming the first UK bank to test it, Atom Bank saw improved productivity, job satisfaction, retention, and customer goodwill, it said. Link here
NatWest’s menopause support app for employees offers personalised advice, information, and structured well-being support programmes from expert practitioners. Link here
SMBC expanded US operations with Jenius Bank, a digital consumer banking business. Jenius will operate as a division of Manufacturers Bank, a California-based bank. Link here
Ebanx is coming to Mexico City. In its 6th edition, experts will meet to discuss digital business opportunities due to the evolution of alternative payment methods. Link here
BSP green lights all six digital banks to launch full operations. In the first Q of 2022, the BSP authorized Tonik Digital Bank and Maya Bank to operate as digital banks. Link here
SCSB adopted Temenos' platform to help financial institutions worldwide deploy next-generation banking technology and take advantage of new pockets of profitability. Link here
Paysend partnered with Currencycloud, to expand the capabilities of Paysend biz, its new digital end-to-end payments solution created to help SMEs take control of their financial health. Link here
Citi appointed Aveline San as CEO. She is responsible for fostering key client and regulatory relationships in Hong Kong & Macau markets, reporting to Tim Monger. Link here
Non-bank lender Bridgit appointed Stephen Doyle as head of distribution. He has +25 years of experience in the financial services industry, of which 20 years were directly in aggregators. Link here
This ends Your Daily Fintech News. Let me know if there are any questions or comments. Until the next!
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2yMastercard partnership with Binance 🔥