PayPal received approval from the Financial Conduct Authority (FCA) on Tuesday (Oct. 31) to offer crypto-asset activities in the United Kingdom. The FCA has implemented stricter rules on marketing crypto assets, causing issues for some companies, Reuters reported Wednesday (Nov. 1). Those wishing to offer crypto assets in the U.K. must demonstrate sufficient safeguards against...
England’s Metro Bank has reportedly secured $1.1 billion from investors following a rocky week. As Bloomberg News reported Sunday (Oct. 8), the funding package is comprised of a £325 million capital raise, comprising £150 million ($183 million) of new equity and £175 million ($213 million) in new MREL issuance. In addition, Metro will...
While brick-and-mortar bank branches have been closing for years, those located within supermarkets are reportedly shutting at a rate that is seven times higher than that of other branches. American banks closed 10.7% of their in-store branches in the year ended June 30, compared to a closure rate of only...
MoneyLion said it recorded rising revenue this quarter after developing new personal finance tools. The financial app released quarterly earnings Tuesday (Nov. 7) showing revenues of $110 million, up 24% from the same quarter last year. Co-Founder and CEO Dee Choubey said the results show the “strength and resiliency” of MoneyLion’s business,...