Update: Adds background. Jesse Powell, the CEO of the first U.S. cryptocurrency exchange to receive a banking license, is stepping down. Powell made history on Sept. 16, 2020, when his San Francisco-based Kraken cryptocurrency exchange became the first crypto industry firm to receive a...
Financial intelligence platform Brightflow AI has announced $19 million in new funding, comprised of a $15 million Series A round and $4.2 million from a seed round. The company will use the new funding to boost its platform, hire new talent and provide faster growth...
Puerto Rico’s FV Bank has launched a service for account holders that lets them instantly convert Circle’s USD Coin into U.S. dollars upon deposit. “This service will greatly reduce the friction of domestic, and especially, international settlements as the money transfer process becomes dramatically faster...
Citigroup is planning to end its retail banking operations in the U.K., shifting its focus to its wealthiest clients. According to a news release Wednesday (Sept. 21), the banking giant said it was inviting its wealthier customers to begin using its private banking services as...
Today in B2B payments, Cleareye.ai and J.P. Morgan partner on trade finance, Taulia and Standard Chartered collaborate on working capital finance solutions, and Suuchi GRID and Bankamoda team on supplier financing in Latin America. Plus, Sequence comes out of stealth and raises $19 million to...
U.K. newspaper The Independent has transformed its eCommerce service through a new partnership with digital payments firm Bolt, the publisher announced in a Wednesday (Sept. 21) press release emailed to PYMNTS. The Independent has been increasingly diversifying its revenue streams in recent years and became...
If the U.S. is to maintain its economic and political leadership in the 21st century, one thing it cannot do is lose control of the international arena. That was the overall message that emerged from a Sept. 20 House Financial Services Committee hearing on the...
Japan’s Rakuten Group has tapped Goldman Sachs and Daiwa Securities to oversee an initial public offering (IPO) for its banking unit. That’s according to a Wednesday (Sept. 21) report by Bloomberg News, citing sources familiar with the matter. The sources say Rakuten — whose businesses...
Sequence has come out of stealth and announced that it has raised $19 million to build “the finance operations platform of the future” for B2B Software-as-a-Service (SaaS) companies. The company is building a platform that will help companies manage pricing models, data about customer usage...
