Airwallex ranks third in personal finance in Fast Company’s Most Innovative Companies 2025. Here’s why the fintech disruptor is making waves in global finance.Airwallex’s Ascent: Fintech’s Heavyweight Earns Its StripesWhen Fast Company drops its annual World’s Most Innovative Companies list, it’s a big deal. The title is one of the world’s engaging contemporary tech and business sites. And this year, fintech powerhouse Airwallex has bagged the #3 spot in the Finance & Personal Finance category, behind RobinHood and Nubank—a ranking that cements its status as a global game-changer.“Innovation is at the core of Airwallex’s DNA. When building Airwallex, we didn’t enhance an existing system but orchestrated a complete rethinking of how global businesses move and manage money,” said Jack Zhang, CEO and Co-founder of Airwallex in a statement. “This recognition reaffirms what we’ve always believed: real innovation means solving the biggest challenges in global business, not just making incremental changes.” “Our list of the Most Innovative Companies offers both a comprehensive look at innovation today and a playbook for the future,” said Fast Company editor-in-chief Brendan Vaughan. “This year, we recognize companies that are harnessing AI in deep and meaningful ways, brands that are turning customers into superfans by overdelivering for them, and challengers that are introducing bold ideas and vital competition to their industries. At a time when the world is rapidly shifting, these companies are charting the way forward.” But what exactly makes Airwallex special, according to Fast Company? Why is it considered one of the most innovative companies in finance? And why should we care that Fast Company is the one handing out the kudos? Let’s break it down.Airwallex: The Cross-Border Payments DisruptorIf you’ve ever tried to send money internationally, you know the drill: high fees, sluggish transactions, and enough red tape to make you reconsider doing business overseas. Enter Airwallex, the fintech company tackling these problems head-on.Founded in 2015 in Melbourne, Australia, Airwallex provides businesses with seamless, borderless financial solutions—from multi-currency accounts to foreign exchange and global payouts. Whether it’s a startup looking to expand internationally or an enterprise juggling multiple currencies, Airwallex makes global transactions feel as smooth as sending a Venmo request after a Dutch dinner.So why the big Fast Company nod? Airwallex’s innovation stems from its ability to simplify cross-border finance in a way that legacy banks never could. With its API-powered platform, businesses can manage international payments with greater efficiency, lower costs, and minimal friction. In a world where e-commerce is booming and businesses are going global faster than ever, that’s a serious advantage.As the world shifts and industries transform, the World’s Most Innovative Companies aren't just keeping up—they're setting the pace. pic.twitter.com/88jXc2ui3Q— Fast Company (@FastCompany) March 18, 2025The Tech Behind the Hype: Why Airwallex Stands OutLanding a top-three spot on Fast Company’s list isn’t just about being a cool fintech startup—it’s about proving that you’re fundamentally changing the industry. Airwallex has done exactly that by:· Making international payments ridiculously easy – Airwallex’s platform allows businesses to hold and convert money in over 60 currencies, cutting out the inefficiencies of traditional banking.· Speeding up transactions – While legacy systems take days, Airwallex delivers near-instantaneous transfers.· Keeping fees transparent – No hidden costs, no bank markups, just real-time FX rates.· Embracing partnerships – Airwallex has inked deals with major players, including Visa and Xero, to expand its reach.These innovations aren’t just fancy fintech jargon—they translate into real savings, efficiency, and scalability for businesses worldwide. And that’s exactly the kind of game-changing impact that earns you a place on Fast Company’s list.Why Fast Company’s List Actually MattersNot all awards and rankings are created equal. When a publication like Fast Company hands out an innovation award, it carries weight. Why? Fast Company doesn’t rank companies based on revenue or hype—it evaluates them on real impact, ingenuity, and forward-thinking strategies.Every year, Fast Company’s team of editors and reporters analyze thousands of businesses across industries, looking for those that are redefining their fields. Making the cut isn’t just about having a flashy marketing campaign; it’s about proving that your business is actively reshaping the market.Past winners in the finance space have included fintech juggernauts like Stripe and Square—companies that have fundamentally altered the way people and businesses interact with money. By ranking Airwallex at #3, Fast Company is signaling that it sees this company as a major force in the future of global finance.The Bottom Line: Airwallex’s Future Looks BrightFor Airwallex, this isn’t just another trophy to put on the shelf—it’s a sign that the fintech disruptor is here to stay. As businesses continue to globalize, the demand for efficient, cost-effective cross-border financial solutions will only grow. And Airwallex, with its relentless focus on innovation, is perfectly positioned to capitalize on this shift.By securing a top-three ranking on Fast Company’s Most Innovative Companies list, Airwallex has proven that it’s not just riding the fintech wave—it’s helping shape the future of finance.The time of outdated, expensive international transactions might just be coming to an end.For more stories of fintech and innovation, visit our fintech section. This article was written by Louis Parks at www.financemagnates.com.

eToro has expanded its services in Spain by introducing futures trading for new users. This move provides them with more opportunities to diversify their investment strategies and access a broader range of financial products. Futures trading allows users to plan their investments with contracts that have defined expiry dates, offering more structure to their trading activities.Futures Trading in Spain with Diverse Market OptionsThe available futures contracts on eToro include several well-known products, such as the Micro WTI $OIL Future, $NSDQ100, $GOLD, NATGAS, $SPX500, and DJ30. These contracts allow traders to tap into various markets, including commodities, indices, and energy sectors.It is important to highlight that futures instruments carry a significant risk of losing money. As eToro has stated:"Futures are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how futures work, and whether you can afford to lose more than your original investment."eToro Futures Contracts Offer DiversificationAccording to eToro, Futures trading offers several advantages. It enables diversification, giving users access to markets they might not have engaged with otherwise. Additionally, it allows for leverage, where users can amplify their exposure with relatively smaller investments. The defined expiry dates of the contracts provide flexibility in planning trades. According to eToro, it ensures transparency by facilitating trades directly through regulated exchanges such as CME and ICE.Expanding Deposit Options and Securing Regulatory Approval in EuropeMeanwhile, eToro has introduced new deposit options for its European users and secured regulatory approval to expand its operations. Customers can now deposit funds via credit cards or bank transfers in eight local currencies, as reported by Finance Magnates.eToro (Europe) Ltd has received approval from the Cyprus Securities and Exchange Commission to operate under the Markets in Crypto-Assets Regulation. This regulation standardizes cryptocurrency trading rules across the EU. The platform also adheres to MiFID, which governs financial markets in the region.The newly supported currencies include Swedish Krona, Norwegian Krone, Danish Krone, Swiss Franc, Hungarian Forint, Polish Zloty, Czech Koruna, and Romanian Leu. Additionally, eToro has reduced foreign exchange fees, starting at 1%, to improve flexibility and lower transaction costs. This article was written by Tareq Sikder at www.financemagnates.com.

Fintech giant Revolut reportedly partners with Spanish authorities to allow users to pay taxes, while expanding its payment solutions with Revolut Terminal.Revolut Tackles Taxes in Spain?In a move that blends fintech with bureaucracy, Revolut is allegedly partnering with the Spanish government to allow its users to pay taxes directly through the app. According to Murcia Today, the global fintech is enabling customers to pay their state taxes, personal and business, without wading through the usual mountain of paperwork.While details remain a bit murky, Murcia Today reports that Revolut's partnership with Spain's tax authorities is part of a broader strategy to simplify financial services for residents. If confirmed, this move could make Revolut a go-to app for Spanish taxpayers seeking a streamlined payment process.“This is a fundamental milestone for us in our strategy to become a leading bank,” said Eduardo Perez Toribio, General Manager, Revolut Bank Sucursal en España, according to the report.Spain, known for its robust tax system (and red tape), may find this partnership a welcome solution. The ease of integrating Revolut's digital banking services with tax payments could offer a significant boost to the app's user base in the country.Revolut TerminalAs if conquering taxes wasn’t enough, Revolut has also rolled out its Revolut Terminal in Spain. This point-of-sale (POS) device is designed to provide businesses with a flexible and efficient way to process payments. Revolut Terminal offers contactless payments, chip and PIN transactions, and digital receipt management, aligning with the growing trend toward cashless commerce.Revolut has announced the arrival of its point-of-sale (POS) product Revolut Terminal in Spain. I see signs that Revolut is also preparing to introduce Revolut Terminal in Belgium and the Netherlands. https://t.co/QvBz3enfQV— Max Karpis (@maxkarpis) March 13, 2025Spain's hospitality and retail sectors stand to benefit the most from this new solution. Revolut Terminal aims to make transactions faster, easier, and more transparent for both customers and business owners.By introducing Revolut Terminal in Spain, the fintech firm is clearly betting big on the country's digital payment landscape. As cash usage continues to decline across Europe, businesses are increasingly seeking modern solutions to accommodate evolving consumer preferences.More Than a Spanish AffairBoth moves reflect Revolut's larger ambition: global domination. The company's strategic expansion has been marked by aggressive product rollouts, licensing deals, and regulatory approvals across key markets. From its roots as a fintech maverick to becoming a banking behemoth, Revolut has been on a relentless growth trajectory.The company’s decision to expand tax payment options and introduce Revolut Terminal in Spain is part of its broader mission to capture market share across Europe and beyond. Revolut's growth reflects a larger fintech trend: traditional banking systems are facing stiff competition from tech-driven solutions that offer convenience and transparency.For Revolut, Spain, along with Ireland and Poland, represents a key foothold in southern Europe, a region ripe for fintech disruption. As digital payments gain traction in the region, Revolut's combination of streamlined tax services and business payment solutions could help it solidify its presence in the market.A Fintech Future in Spain?According to Statista, Spain's digital banking market is poised for significant growth, with Net Interest Income expected to reach $18.40 billion by 2025. However, despite this increase, the market is projected to experience a slight compound annual decline of -0.23% from 2025 to 2029, bringing the total volume to $18.23 billion by 2029. This reflects a stabilization phase after rapid early expansion. Spain’s fintech sector continues to flourish, with several homegrown startups making their mark and driving innovation in the digital banking space.Revolut’s latest moves underscore its commitment to innovation, convenience, and expansion. By reportedly allowing users to pay their taxes through the app and introducing Revolut Terminal for businesses, the fintech firm is carving out a significant niche in Spain’s financial landscape.Whether you’re a Spanish taxpayer dreading paperwork or a business owner keen to upgrade your payment solutions, Revolut seems determined to be part of the solution. One thing’s clear: Revolut isn’t just chasing tapas — it's serving up a fintech feast.For more stories of fintech, visit our dedicated section. This article was written by Louis Parks at www.financemagnates.com.

eToro has introduced new deposit options for its European users while securing regulatory approval to expand its operations. Customers can now deposit funds using credit cards or bank transfers in eight local currencies.eToro (Europe) Ltd has obtained approval from the Cyprus Securities and Exchange Commission (CySEC) to operate under the Markets in Crypto-Assets Regulation (MiCA). This framework standardizes cryptocurrency trading rules across the EU. The platform also complies with MiFID, which governs financial markets in the region.eToro Supports New Currencies, Reduces FeesThe newly supported currencies include Swedish Krona (SEK), Norwegian Krone (NOK), Danish Krone (DKK), Swiss Franc (CHF), Hungarian Forint (HUF), Polish Zloty (PLN), Czech Koruna (CZK), and Romanian Leu (RON). Additionally, eToro has lowered foreign exchange (FX) fees, starting at 1%, to enhance flexibility and reduce transaction costs.eToro Expands UK ISA Options and Files for IPOeToro has expanded its offerings in the UK by introducing a new DIY Individual Savings Account (ISA) option. This allows investors greater flexibility in managing their tax-efficient investments. The DIY ISA enables clients to select from over 1,000 assets, including UK stocks, ETFs, mutual funds, and bonds, giving them the ability to build and manage their own portfolios. This new option adds to eToro's existing managed ISA, powered by Moneyfarm, which offers professional portfolio management. The collaboration ensures smooth transfers and access to expert guidance, aiming to provide UK investors with the choice between self-directed investing or professional management.In addition to this, eToro Group has filed a draft Registration Statement on Form F-1 with the US Securities and Exchange Commission (SEC) for its planned initial public offering (IPO). While the number of shares and the price range have not yet been disclosed, the offering will proceed once the SEC completes its review, subject to market conditions. This follows eToro's previous attempt at going public through a $10.4 billion SPAC merger in 2021, which was later abandoned due to market challenges. This article was written by Tareq Sikder at www.financemagnates.com.

Robinhood expanded its trading offerings with a new prediction markets hub to enable users trade on the outcomes of major events. Initially, traders can speculate on the Federal Reserve’s interest rate decisions and upcoming college basketball tournaments, the company mentioned.“We believe in the power of prediction markets and think they play an important role at the intersection of news, economics, politics, sports, and culture,” commented JB Mackenzie, VP & GM of Futures and International at Robinhood. “We’re excited to offer our customers a new way to participate in prediction markets and look forward to doing so in compliance with existing regulations.” New Trading Opportunity for Robinhood UsersAccording to the announcement, Robinhood Derivatives, LLC (RHD) has introduced a standalone prediction markets hub within its app. The feature enables users to engage in event-based trading by purchasing contracts tied to real-world outcomes.Starting today, you can now trade contracts on the men's and women's college basketball tournaments. See you at tip-off: https://t.co/WXpUDpYBJO pic.twitter.com/fRF6xhr0Xd— Robinhood (@RobinhoodApp) March 17, 2025At launch, the hub will support trades on the upper bound of the Federal Reserve’s target interest rate for May and the men’s and women’s College Basketball Tournaments. Robinhood’s prediction markets hub operates through KalshiEX LLC, a regulated exchange overseen by the Commodity Futures TradingCommission (CFTC).By introducing this new trading feature, Robinhood now aims to provide customers with a new way to engage with events that align with their interests. The company emphasized that prediction markets operate within a regulated framework, ensuring transparency and liquidity.The company stated that it has been in close discussions with the CFTC and intends to maintain compliance while expanding its offerings. The new feature aligns with Robinhood’s broader mission to make financial markets more accessible.Regulatory ComplianceRobinhood’s move into prediction markets underscores a growing trend where financial platforms integrate real-world events into trading strategies.While the initial offerings focus on interest rates and sports, the firm expects to expand into elections, corporate earnings, and geopolitical developments. The prediction markets hub is rolling out now and will reportedly be available to all eligible users across the U.S. in the coming days. Last month, Robinhood suspended Super Bowl event contracts only a day after listing them, reportedly following a request from the CFTC. Amid the growing popularity of sports betting, the CFTC lost its court case with Kalshi last year over its offering of political event contracts. These contracts allowed multiple US platforms to offer event contracts on the outcome of US Presidential elections. However, the watchdog appealed the decision. This article was written by Jared Kirui at www.financemagnates.com.

As Revolut gears up to become a fully licensed UK bank, it's on a hiring spree, aiming to transition from a disruptor to your primary banking partner.Revolut's Recruitment Rampage: Staffing Up for Banking GloryRevolut, the fintech darling that made traditional banks sweat with its sleek, app-first approach, is now playing an even bigger game. After years of shaking up global finance, the company has set its sights on full-fledged UK banking status. But becoming a bank isn’t just about slapping a new title on the door—it requires a massive operational upgrade. Enter Revolut’s latest power move: a full-blown hiring spree.Revolut UK hiring a hundred new bank staff, from regulatory reporting analysts to financial risk controllers, as it prepares to exit the bank mobilization phase in July. CEO Francesca Carlesi told Bloomberg that the bank went from 35 to over 100 staff members through hires and… pic.twitter.com/G43ULLoaR8— Max Karpis (@maxkarpis) March 13, 2025The company is recruiting more than 100 new employees to bolster its banking operations in the UK, a clear signal that it's gearing up for the final stages of securing a full banking license, according to Bloomberg. Revolut has already made banking plays in Europe, holding a license in Lithuania that allows it to operate across the European Economic Area (EEA). But the UK, one of the world’s most tightly regulated financial markets, has been a harder nut to crack.According to Bloomberg, the company is hiring 100 new employees across roles such as regulatory reporting analysts and financial risk controllers as it moves past operational restrictions imposed by the UK central bank. Since obtaining a restricted banking license last summer, the London-based fintech has grown its UK banking division from 35 to over 100 employees through both new hires and internal transfers, according to Francesca Carlesi, Revolut’s UK CEO. Carlesi added that the UK banking unit is expected to reach around 200 staff members by the end of the year. The digital challenger bank recently secured its long-awaited UK banking license.At the time of writing, there were 57 open jobs at Revout listed on LinkedIn, filtered by location, London. The positions included Product Owner, Credit Analytics Manager, Group Head of Sanctions (Risk), Acquiring Sales Executive (Enterprise), FinCrime Risk Manager (KYB), Legal Counsel (Private Bank), Regulatory Strategy Lead and more. While it’s impossible to confirm that these hires are (all) related to the company’s UK moves, it certainly seems as if things are happening in London.This hiring push follows years of back-and-forth with the Bank of England and UK regulators, who have scrutinized Revolut’s internal governance, compliance processes, and financial reporting. Now, with key roles being filled and a clear regulatory roadmap, the fintech giant is betting big on its future as a fully licensed British bank.From Disruptor to Dominator: The CEO’s VisionFrancesca Carlesi, Revolut’s UK CEO, recently shed light on the company’s ambitions at the MoneyLive Summit in London. Her message? Revolut isn’t content with being a flashy alternative bank—it wants to be the bank for millions of Brits.“We want to move from being a disruptor to being a primary banking partner,” Carlesi declared, emphasizing that the fintech’s long-term goal is to become the go-to institution for everyday banking needs. “It’s about deepening the relationship with our customers, it’s about not just having a Revolut card in your wallet when you travel but making sure Revolut comes top of mind for any financial needs,” she said.Revolut UK CEO stresses Revolut's ambition to shift from “disruptor” to primary bank https://t.co/Nt2zKBgDr1 pic.twitter.com/BgKS5Vg1Pj— Tech.eu (@tech_eu) March 10, 2025Revolut has long been the bank you use when you travel or the app you keep for managing different currencies. But Carlesi’s comments make it clear that the company is positioning itself as a viable alternative to high-street banking, capable of handling salaries, savings, mortgages, and business banking—all under one digital-first roof.But to do that, it needs a full banking license. And that’s where things get complicated.The Regulatory Rumble: Revolut vs. The EstablishmentThe UK’s financial regulators have never been ones to roll out the red carpet for disruptors, and Revolut has had its fair share of run-ins with the powers that be.One of the biggest hurdles? Compliance concerns. The Bank of England has scrutinized Revolut’s ability to meet the rigorous oversight and reporting standards required of traditional banks. There have been whispers of concerns over financial controls, risk management, and even accounting practices—issues that have delayed the licensing process.And then there’s the ongoing battle over interchange fees. Revolut has clashed with regulators over the fees it collects when customers use their cards, with critics arguing that the fintech’s structure allows it to exploit loopholes in the UK’s payment rules.Fintech News ?: @RevolutApp and @Visa Challenge UK Proposal to Cap Interchange FeesRevolut and Visa reportedly filed legal challenges against the U.K.’s Payment Systems Regulator (PSR), seeking to overturn the regulator’s proposed cap on interchange fees on cross-border… pic.twitter.com/vSNvMbt9ZP— Sam Boboev (@samboboev) March 11, 2025Yet, despite these challenges, Revolut remains undeterred. It has worked extensively with regulators to tighten compliance measures and strengthen governance frameworks. The current hiring spree is part of that effort, ensuring that the company has the right personnel in place to navigate the increasingly complex world of UK banking regulations.“We have been in constant and open dialogue with our regulators, to ensure our mobilization meets the highest standards,” Carlesi said. “We’re in no rush, as getting this right matters more, so once everyone is ready, we’ll launch the UK bank and begin to operate as one of the UK’s newest banks.”Mobilization Mode: The Final CountdownRight now, Revolut is – in its own words, “mobilizing”, where it’s build out its banking infrastructure while working closely with a limited number of customers to test its systems before going fully live. Think of it as the final dress rehearsal before stepping onto the big stage. If all goes to plan, Revolut expects to complete this phase by July of next year.Once mobilization wraps up, Revolut will shift its millions of UK customers onto its new, fully licensed banking entity. This will bring a host of benefits, including access to FSCS-protected deposits and a wider range of financial services.Of course, all of this hinges on regulators giving Revolut the green light. But with the hiring spree in full effect and operational upgrades underway, the fintech appears more prepared than ever to take on the UK’s banking elite.The Big Picture: A Fintech Force to Be Reckoned WithRevolut isn’t going away. With over 50 million customers worldwide and more than 10 million in the UK, the company has already built an empire that most challenger banks can only dream of.Its aggressive expansion strategy, coupled with its commitment to innovation, positions it as a serious threat to traditional banks. Whether regulators approve its full banking license or throw more hurdles in its path, one thing is clear—Revolut is on the up.And if it gets that final stamp of approval? The UK’s banking landscape may never look the same again.For more stories around the world’s most impactful fintech firms, visit our fintech section. This article was written by Louis Parks at www.financemagnates.com.

A court in Poland has ordered the three-month detention of Robert Górny, a former board member of Polish online currency exchange Cinkciarz.pl, as part of a widening fraud investigation that has also implicated the company's president, Marcin Pióro.However, since he is currently outside the country, no temporary detention was applied. According to the prosecutor’s office spokesperson, the charges against the two carry a potential penalty of up to 25 years in prison.Cinkciarz.pl Former Board Member Detained in $12 Million Fraud InvestigationThe Regional Court in Poznań, Poland, approved the prosecutor's request for temporary arrest on March 12, 2025, after Górny was apprehended by officers from the Central Bureau of Investigation and the Central Bureau for Combating Cybercrime, working alongside the police.Prosecutors have charged Górny participating in a fraud scheme that allegedly misled numerous individuals, causing financial losses exceeding 49 million Polish złoty (approximately $12 million). According to the Poznań Regional Prosecutor's Office, the suspect allegedly deceived customers about key aspects of contracts made through the Cinkciarz.pl mobile application, including the actual destination of funds collected from victims through online currency exchange and payment services.The investigation claims these funds were diverted to finance operational activities of companies within the Conotoxia Holding Capital Group instead of being used for their intended purpose.“Robert G., questioned by the prosecutor as a suspect, did not plead guilty to the alleged offense and provided a statement in which he presented his defense strategy,” the prosecutor’s office commented.The court, in its written justification for the detention order, agreed with the prosecutor that the evidence gathered substantially supports the likelihood that Górny committed the alleged crime.Until recently, Górny was a board member of Cinkciarz.pl sp. z o.o., as stated in the prosecutor's press release. However, Polish police now refer to him as a former member, which aligns with the current information on the fintech’s website, where his name no longer appears. Meanwhile, Górny's LinkedIn profile states that he has worked for the past 14 years at a "Poland FinTech Company" in Zielona Góra, which most likely refers to Cinkciarz.pl, as the company is headquartered in that Polish city.Cinkciarz.pl President President Also ChargedProsecutors have also issued charges against Pióro, the President of Cinkciarz.pl's Management Board, who is currently outside Poland. “The prosecutor issued a decision to press fraud charges against Marcin P., the CEO of Cinkciarz.pl sp. z o.o. However, no procedural actions have been carried out against him due to his presence outside the country,” the Polish Police commented in a separate statement.Both suspects face potential sentences of up to 25 years in prison if convicted.Regulatory ActionsThe investigation follows the Polish Financial Supervision Authority's (KNF) October decision to revoke the payment services license of Conotoxia, a company owned by Cinkciarz.pl. Prior to this action, customers had complained about delays in currency exchange transactions and money transfers.By January 2025, approximately 1,200 affected Cinkciarz.pl customers had filed complaints with the prosecutor's office. In December, prosecutors blocked 328 bank accounts belonging to the company.The Poznań Regional Prosecutor's Office has described the case as "developing," suggesting further actions may be forthcoming as the investigation continues. This article was written by Damian Chmiel at www.financemagnates.com.

Airwallex, the fintech heavyweight, is banking on creatives, splashing cash in F1, and making global plays with strategic acquisitions.Lights, Camera, Formula 1: Airwallex Gets in the Fast LaneWhile Airwallex is busy building out its fintech ecosystem for creatives, it’s also flexing its own creative muscles. Enter: Formula 1. Because nothing says "cutting-edge fintech" quite like slapping your brand on the world’s fastest (and most expensive) billboard.We’re now an Official Partner of the @McLarenF1, Formula 1 team. ?️United by our passion for engineering, speed, and precision, Airwallex and McLaren Racing are joining forces on and off the track. Read the full story here ? https://t.co/RA0kCwmpF3 pic.twitter.com/iEfkN69KF1— Airwallex (@airwallex) February 5, 2024Airwallex isn’t just making waves in fintech—it’s merging speed, culture, and creativity in spectacular fashion. Ahead of the Australian Grand Prix, the company gifted Oscar Piastri a custom-wrapped McLaren supercar featuring an electrifying design by First Nations artist Reko Rennie. Known for his bold, thought-provoking work that explores Indigenous identity through contemporary art, Rennie transformed the supercar into a canvas of striking pink and blue geometric patterns—a fusion of heritage and high-octane adrenaline.?️ @OscarPiastri's got a question for you - what’s your breakthrough business moment?We’re giving Aussie founders and professionals the chance to win their share of $25K in business grants!? Prizes include:1️⃣ $10K Business Acceleration Grant2️⃣ $10K First Nations Business… pic.twitter.com/tMxPCJazpO— Airwallex (@airwallex) March 4, 2025The company is clearly leveraging the potential (and appeal) of art and creativity on a number of different levels. The overall takeaway being, perhaps, that Airwallex isn’t quite a stuffy as your average payments firm.Banking on the Creators: Airwallex’s Master PlanThe creator economy isn’t just viral stars, YouTubers and TikTok stars hawking dubious supplements anymore, or even crypto—it’s a multibillion-dollar industry that’s reshaping how people work, earn, and manage money. And Airwallex? They’re diving in headfirst. The fintech juggernaut has set its sights on this rapidly growing sector, rolling out a suite of financial products designed to make life easier (and payments faster) for digital entrepreneurs, freelancers, and content creators."Airwallex is building financial tools to connect entrepreneurs, business builders, makers and creators with borderless opportunities,” said Philipp Reichardt, VP of Enterprise, North America at Airwallex. “With this launch, we’re making it easy for platforms to embed financial tools that remove complexity – ultimately empowering creators to focus on what they do best, without getting bogged down in paperwork." Airwallex is arming creators with borderless payments, streamlined multi-currency transactions, and smart financial management tools. It’s a fintech solution for an industry that’s still figuring out how to get paid by international clients without losing chunks of cash to fees and currency conversions. Simply put, Airwallex wants to be the go-to financial partner for creators who work across platforms and continents. You can read all about it here.The Global Expansion Play: CTIN Pay Joins the PartyIf Airwallex’s creative economy push is about attracting digital entrepreneurs, and its F1 strategy is about high-profile branding, its global acquisitions are about something even bigger: global dominance.The company recently acquired Vietnam’s CTIN Pay, a move that strengthens its payment infrastructure across Southeast Asia. With this acquisition, Airwallex gains access to Vietnam’s rapidly expanding digital payments market—one that’s primed for explosive growth. More importantly, it solidifies Airwallex’s position as a global fintech powerhouse, ready to cater to businesses and creatives operating beyond the usual financial borders.Fintech Meets Creativity: The Future Looks BorderlessAirwallex’s pivot toward the creator economy, splashy marketing efforts in F1, and aggressive global expansion all point to one thing: a fintech company that isn’t afraid to think like a creator itself. The company is playing the game with the same entrepreneurial spirit that drives its target audience—leveraging technology, strategic partnerships, and bold acquisitions to stay ahead of the curve.For digital creatives, the message is clear: Airwallex isn’t just another bank trying to cash in on their work. It’s a fintech that can address their particular needs, whether they’re streaming from a laptop in Bali, editing videos in Berlin, or running an e-commerce empire from New York. And if that journey involves a little F1 flash along the way? Well, that’s just good branding.For more stories of fintech, visit our dedicated archives. This article was written by Louis Parks at www.financemagnates.com.

Mastercard is phasing out manual card entry for one-click online payments, according to a statement by the card payment giant today (Wednesday). According to the company, while in-store transactions have become nearly effortless with contactless payments, online shoppers still type in their 16-digit card numbers, expiry dates, and security codes. Mastercard aims to change this as it expects online payments to shift to a one-click experience by eliminating manual card entry entirely by 2030. From Carbon Copies to Digital TokensCredit cards have evolved significantly since their introduction in the 1950s, Mastercard explained. In the early days, clerks reportedly manually verified card numbers, and mechanical “zip-zap” machines imprinted them on carbon paper receipts. Later, magnetic stripes, chip cards, and contactless payments revolutionized the way people pay in stores. However, online transactions haven’t advanced at the same pace, leaving consumers to manually enter card details or store them with multiple merchants, increasing security risks.Storing card details with multiple merchants has led to rising concerns over fraud. Cybercriminals frequently target merchant databases to steal consumer payment data. A 2023 study estimated that online payment fraud losses will surpass $91 billion by 2028. To address this, Mastercard introduced tokenization, a system that replaces actual card numbers with randomly generated tokens. Tokenization in Digital PaymentsMastercard first developed the tokenization standard in 2013, later adopted globally by EMVCo, the industry body for payment standards. According to the company, tokenization enhances security but also improves transaction approval rates and reduces fraud. Today, more than 30% of Mastercard transactions globally are tokenized, with more digital tokens in circulation than physical cards. Tokenization is just the beginning. Mastercard is now working with banks, fintechs, and merchants to introduce a universal one-click checkout button across all online platforms by 2030. The goal is to eliminate manual card entry entirely and make online payments as effortless as tapping a card in-store.Mastercard embeds Click to Pay as an online checkout solution that removes the need to manually enter card details. Additionally, biometric authentication via passkeys will soon replace passwords and one-time passcodes, allowing users to authorize payments with fingerprint or facial recognition, just like unlocking a smartphone. This article was written by Jared Kirui at www.financemagnates.com.

Conotoxia, Inc., the Chicago-based subsidiary of the polish fintech giant Cinkciarz.pl, has notified US law enforcement agencies about alleged criminal offenses committed by employees of the Polish financial regulator KNF and various local prosecutor's offices. The company claims these officials abused their power and deliberately acted to harm the international Conotoxia Holding group, causing estimated losses of “at least several billion Polish zlotys.”Conotoxia Files Complaint Against Polish Regulators in the USThe US company's move comes after a significant setback in Poland, where the Warsaw Administrative Court recently dismissed an appeal by Conotoxia sp. z o.o. against the KNF's October 2024 decision to revoke its payment services license. The court ruled that the Polish regulator had conducted its proceedings correctly, finding that Conotoxia had failed to meet essential requirements for holding a payment services license and did not fulfill obligations related to protecting client funds.In its notification to US authorities, Conotoxia, Inc. stated it "intends to take decisive legal action to punish all those responsible for the damage caused and seek full compensation for the losses incurred." The company also plans to present its case to European Union supervisory authorities and international regulatory institutions.Escalating Regulatory BattleThe dispute between Conotoxia (Cinkciarz.pl) and Polish regulators has intensified significantly in recent months. Following the Warsaw court's decision, Conotoxia harshly criticized the ruling, describing it as confirmation of "a deep crisis of the legal system in Poland" and accusing the court of only superficially addressing their arguments."We are again faced with bureaucrats who feel they can act above the law with impunity and beyond real state control," a company spokesperson stated after the court ruling. The fintech firm has alleged that KNF failed to follow proper procedures, including not notifying the company of collected evidence and denying them the opportunity to respond before issuing its decision.The company has announced plans to appeal to the Polish Supreme Administrative Court, while simultaneously pursuing remedies through US and international channels.Moreover, yesterday (Monday), the company announced that it will "file another legal complaint with the National Public Prosecutor's Office against the Regional Public Prosecutor's Office in Poznań" and the KNF.“We accuse these authorities of knowingly acting to the detriment of the entire capital group, including the US-based Conotoxia, Inc.,” the company announced.Investigation in PolandMeanwhile, the company faces growing customer complaints in Poland, with reports mentioning approximately 1,200 alleged victims and 328 blocked business accounts. Despite being unable to execute currency exchanges due to banks blocking transfers, Conotoxia reportedly continues to demand payment from customers for failed transactions.In a particularly unusual development, the company previously announced plans to produce toilet paper adorned with the letters "KNF" as a thinly veiled mockery of the Polish regulator, claiming this business wouldn't require additional permits.The case continues to evolve as Conotoxia seems to pursue multiple legal avenues across different jurisdictions. Conotoxia Holding Group consist of several separate entities, including Cinkciarz.pl sp. z o.o., Conotoxia sp. z o.o., Conotoxia Ltd. brokerage house (regulated by CySEC) and Conotoxia, Inc. This article was written by Damian Chmiel at www.financemagnates.com.

Regulatory scrutiny of the bank-fintech relationship intensified last spring after middleware provider Synapse collapsed, leaving thousands of online customers’ deposits in the lurch. Last summer, federal banking agencies released an interagency statement providing guidance for banks working with third parties on deposit products, as well as a request for information related to the bank-fintech relationship. In September, the Federal Deposit Insurance Corporation (FDIC) proposed new recordkeeping rules for banks that take deposits from fintech customers. Several consent orders against banks concerning their partnerships with fintechs followed. In the first half of 2024 alone, over a quarter of the FDIC’s enforcement actions were found to have targeted bank sponsors involved in embedded finance partnerships.Evolve Bank at its peak managed around $10 billion for financial technology firms, including Stripe and Affirm. It is in turmoil following the collapse of middleman Synapse. https://t.co/vAUAob2Y3J— The Wall Street Journal (@WSJ) December 26, 2024Though the bank-fintech honeymoon may be over, it’s less certain what will come next. Lumping all fintech providers together and placing additional burdens on the smaller lenders that disproportionately rely on their services isn’t the answer. Done wisely, fewer—and more effective—regulatory bodies and rules would make for a more innovation-friendly environment. Though much remains to be seen, this year may offer something of a clean slate following the flurry of activity in 2024—presenting an opportunity to develop smarter policies moving forward. A New “Regulation-Lite” Framework is Needed 2024 saw plenty of promising bank-fintech regulatory developments. But we also witnessed overregulation and indiscriminate application of rules that sowed further uncertainty. Community banks, in particular, have suffered in the aftermath of Synapse’s failure, as regulatory bodies threatened to paint every institution with the same brush regarding their third-party partnerships. At the same time, some FDIC field examiners have been interpreting rules differently depending on the examination in question.Will Trump's new Chairman of the Federal Deposit Insurance Corporation #FDIC be able to implement appropriate #regulation to avoid another #Synapse happening in the future?Find out more about one of the biggest bankruptcies to hit the #Fintech sectorhttps://t.co/KKX062xHBO pic.twitter.com/8iXXunzrZ0— #DisruptionBanking (@DisruptionBank) February 10, 2025Before advancing any additional regulation, it’s critical that regulators focus their efforts on the real culprit rather than placing all fintech-bank partnerships in the same bucket. In other words, deposit-oriented solutions—and related consumer protection and money laundering risks—should be prioritized, given the complexity of ongoing reconciliations and the potential fallout for consumers (e.g. with Synapse). Other functions, like digital loan participation platforms, should be treated differently, as they represent a healthy model of strong bank-fintech governance and partnership. Once they’ve homed in, regulators should consider a “regulation-lite” framework that encourages ongoing innovation and collaboration while ensuring both parties meet appropriate standards. This could take the form of a relatively simple checklist for both parties that factors in relevant questions, such as: Do you have robust due diligence programs in place (e.g., related to anti-money laundering, know-your-customer, and adequate recordkeeping for deposits received from third-party/non-bank entities)? Do you have full visibility into relevant ledgers and your partner’s financial performance? Do you have a contingency plan in place should the partnership fail? Are roles and responsibilities clearly assigned between you and your bank/fintech partner? Have you identified an appropriate scope and frequency of reporting (e.g. on partner’s performance, risk management audits)?Today, our Board of Directors delayed the deadline under the Sign and Advertising Rule, giving banks more time to update how they display the official FDIC sign on their digital channels, ATMs, and similar devices.Read more⤵️https://t.co/dMuv7xUkVH pic.twitter.com/Gcys3plzzS— FDIC (@FDICgov) March 3, 2025Best Industry PracticesSeveral organizations offer useful blueprints for others to follow. Banking-as-a-service vendor Treasury Prime fully integrates its ledgers with its client banks’ core systems and holds its application programing interface’s underlying code in escrow—so if the company went offline, banks would still have access to the fintech’s database and could continue leveraging its API. Similarly, Chime Financial designs its relationships with banks to protect its customers in case of failure. “Not only does each of our partner banks have complete access to the relevant ledger, they also each have full visibility into Chime's financial performance, enabling them to plan for and anticipate potential disruptions,” Chime said in response to the federal agencies’ RFI last year. “Consequently, our members would be protected in the event of an operational disruption.”The @FDICgov issued a consent order against a bank related to a joint venture involving a banking-as-a-service product. The action is the latest indicating increased scrutiny of banks’ relationships with fintech partners. #FDIC #fintech https://t.co/VYdm5Cocgi pic.twitter.com/yOZDwMrdbG— RESPA News (@RESPANews) December 25, 2023On the bank front, a recent report from law firm Troutman Pepper suggests that compliance teams should focus on “ledgering hygiene” that requires fintech firms to have separate accounts that “more clearly delineate funds for customers, operations, payment fees to third parties, contingency reserves, and network settlement.” More Collaboration Equals More Innovation Fortunately, last year’s tumult stimulated more cooperation and information sharing. This is a positive indicator of where the bank-fintech relationship could be heading. For instance, since launching in the fall of 2024, the Coalition for Financial Ecosystem Standards has worked among its members and alongside regulators to develop standards for third-party relationships.What’s the future of human-to-human banking in this digital age? In our latest episode of the #FDICPodcast, we explore the impact #fintech is having on the world of physical bank branches and old school relationship banking. Listen ?️▶️ https://t.co/UfxgNbrjE9 pic.twitter.com/s59WtkxbaE— FDIC (@FDICgov) January 24, 2023Yet more can be done. As I’ve previously argued, bringing back regulatory sandboxes in this area would allow fintech to gain needed experience in the banking world while fostering continued innovation in a safe, monitored, and risk-averse manner. Though there may be more twists and turns ahead, banks and fintechs need each other more than ever. A regulation-lite framework that fosters innovation, transparency, and proactive engagement among key stakeholders can help both parties reach their full potential. This article was written by Kelly Brown at www.financemagnates.com.

Revolut and Visa take on the UK Payment Systems Regulator over proposed caps on interchange fees, arguing that innovation and competition are at stake.Revolut and Visa Take a Swing at the UK RegulatorWhen it comes to shaking up the financial sector, Revolut has never been one to shy away from a fight. Now, the digital banking giant has teamed up with Visa to challenge the UK Payment Systems Regulator’s (PSR) plan to cap interchange fees on cross-border payments. Their argument? The proposed cap would stifle competition and hinder fintech innovation—two things Revolut holds dear.Revolut and Visa filed legal challenges against the UK payments regulator, PSR, arguing that it has overstepped its powers with a proposed cap on international transaction fees. They asked the court to review and ultimately overturn the PSR’s decision.https://t.co/1WaTpKWxTj— Max Karpis (@maxkarpis) March 8, 2025The legal challenge, filed separately by both companies, contends that the PSR’s move is unnecessary and could have unintended consequences for consumers and businesses alike. Given Revolut’s rapid rise and Visa’s global dominance, this isn’t just another regulatory spat—it’s a battle for the future of fintech.As reported by the Financial times, Revolut released the following statement: “We disagree with the PSR’s assessment and believe it has acted beyond its statutory powers in imposing these caps. We have therefore requested the court to review, and ultimately overturn the PSR’s decision,” says the fintech giant. In the same article, the FT quotes a statement from Visa saying, “We respect the PSR’s role as an economic regulator. This narrow legal action is focused only on the PSR’s legal authorisation and process related to price setting to ensure a fair and thorough process, and give clarity to the industry. This is critical to future growth and investment in the UK.”What’s the Big Deal with Interchange Fees?Interchange fees might not sound exciting, but they’re the lifeblood of many card payment networks. Every time a customer makes a purchase using a credit or debit card, the merchant’s bank (acquirer) pays a small fee to the customer’s bank (issuer). These fees help fund rewards programs, fraud prevention, and overall service improvements.The UK PSR argues that these fees—especially on cross-border transactions—are too high and unfairly burden businesses. Their proposed cap aims to bring down costs for merchants, who would theoretically pass on the savings to consumers. When the PSR announced its proposal to cap interchange fees it stated that both Visa and Mastercard raised interchange fees for online transactions between the EU and the U.K. to 1.15% for debit cards and 1.5% for credit cards, the hike was justified as a means to cover fraud prevention costs and the costs of increased competition.“In this market review we have provisionally found that the fees charged by Mastercard and Visa to U.K. businesses which accept payments from within the EEA are likely too high,” Chris Hemsley, the PSR’s managing director at the time, said in a press release. “In short, at this stage, we do not think this market is working well.”The PSR’s report on the matter can be found here.Revolut’s Case: The Cost of “Fairness”Revolut argues that capping interchange fees could have the opposite effect of what the regulator intends. Lower fees might help merchants in the short term, but they could also force banks and payment providers to scrap rewards programs and introduce new fees elsewhere to compensate. In essence, consumers might end up paying the price.Visa, on the other hand, is defending its turf. The payments giant warns that the proposed cap could distort the market, making it harder for new players to compete. By limiting revenue from interchange fees, fintech firms like Revolut may struggle to reinvest in innovation and expansion.Revolut and Visa argue that the PSR’s decision is rushed, not backed by sufficient evidence, and could ultimately hurt the very consumers it claims to protect.Revolut Targeting South Africa?While Revolut is busy fighting the UK regulator, it seems to have its eyes on new frontiers. According to recent reports, the fintech firm may be setting up shop in South Africa. If true, this would mark a significant step in Revolut’s global expansion strategy.Revolut also hired Tom Morrison as Head of Strategy & Operations in South Africa three months ago.South Africa, with its growing digital banking ecosystem and increasing demand for fintech solutions, presents a lucrative market. If Revolut does make the move, it would be entering a competitive space dominated by both local banks and emerging digital challengers. According to South African consultancy firm KLA, 42.31% of South Africans use their phones for digital banking and mobile phone penetration rates have reached 92%.NEWS: Revolut is setting up operations in South Africa - applying for a full banking license, advisors include Standard Bank according to the source. pic.twitter.com/opzPNwqEUW— Max Karpis (@maxkarpis) March 7, 2025According to KLA, there is a significant move toward mobile payment apps, as explimfied by offerings from FNB and Standard Bank and financial insitutions are increasingly leveraging the blockchain and AI to drive decentralised finance (DeFi) models and enhanced customer service.So, while Revolut takes on regulators in one market, it’s quietly plotting its next big move in another. The question is: will it be able to fight battles on multiple fronts, or will regulatory pressure at home slow down its global ambitions?Fees and FintechRevolut’s legal challenge against the UK’s interchange fee cap is more than just a financial dispute—it’s a showdown over the future of digital banking. If Revolut and Visa succeed, they could preserve the current revenue model for fintech firms and payment providers. If they fail, the PSR’s ruling could reshape the payments landscape in the UK.Either way, one thing is clear: Revolut isn’t backing down. Whether it’s regulators or market expansion, the fintech powerhouse is determined to keep pushing boundaries. And if its rumored South Africa move comes to fruition, Revolut’s ambitions could extend far beyond the UK, no matter what the regulators decide.For more stories of fintech and innovation, visit our dedicated archives. This article was written by Louis Parks at www.financemagnates.com.

Revolut partners with Wizz Air for seamless payments, makes bold moves in Singapore, and CEO Nik Storonsky calls out European startups for lacking ambition.Revolut and Wizz Air: A Match Made in Payment HeavenIn a move that makes life easier for travelers (and potentially harder for banks still clinging to outdated payment systems), Revolut has partnered with Wizz Air to introduce a seamless one-click payment system. The idea is simple: book a flight, click once, and boom—payment done. No more fumbling with multiple payment methods, no more re-entering details. Just pure, frictionless fintech magic.We’re excited to announce the new partnership between @wizzair and Revolut. Wizz Air customers can now check out in 1-click when they use Revolut Pay in the WIZZ app. Learn more about Revolut Pay at https://t.co/xdj0WxjlhIRevolut Pay T&Cs apply. pic.twitter.com/i3xktsx6KY— Revolut Business (@RevolutBusiness) March 4, 2025For Revolut, this partnership isn’t just about making air travel smoother. It’s another step toward embedding itself in consumers’ daily transactions. The company is on a mission to be the go-to payment method for everything, from booking flights to grabbing coffee to investing in stocks—all within its app.Wizz Air, one of Europe’s favorite ultra-low-cost carriers, is also winning in this deal. The airline, notorious for charging passengers for everything but the oxygen they breathe, now offers a super-streamlined payment process. It’s a win-win for the airline and Revolut, and perhaps a loss for traditional credit card providers who are getting cut out of the equation.Singapore: The Next Fintech BattlefieldWhile conquering the European skies with Wizz Air, Revolut is also making aggressive moves in Singapore. Singapore’s digital payment market is set to hit $48.50bn in 2025, according to Statista.The fintech firm is going all-in on expansion, adding new features aimed at attracting more users in the region. This push is part of its broader strategy to tap into Southeast Asia’s growing digital banking market. Since expanding into the region, Revolut has rolled out new wealth management features, such as a robo-advisory service, while continuously improving its multi-currency options for both retail and business customers.We hit our biggest milestones yet ?? 20K newly active businesses join us per month, on average? Over $500M (£380M) in global revenues?? Expanding into 35 countries, with our most recent launch in SingaporeThank you to all our customers. You’ve helped, trusted, and… pic.twitter.com/Q6lV8ViaZg— Revolut Business (@RevolutBusiness) October 8, 2024Revolut launched in Singapore last year.Raymond Ng, CEO of Revolut Singapore and Southeast Asia, emphasized the company's mission to provide customers with a seamless and transparent financial experience. “We want to be an everyday usage app for consumers and businesses,” he said. The fintech firm, which has secured banking licences in the United Kingdom (UK), European Union (EU) and Mexico, is now focusing on product parity between its European and Asian markets while working within regional regulatory requirements.According to a report by the Asian Banker, Revolut is advancing its business banking services with a focus on cash flow management and yield-enhancing solutions tailored for small and medium-sized enterprises (SMEs). Its strategy prioritizes cost-effective cross-border transactions and improved liquidity management tools. Ng emphasized that Revolut will continue refining these offerings to maintain its competitive edge in the fast-evolving digital finance landscape.Singapore, known for its strict but innovation-friendly regulatory environment, is a prime target for Revolut. The company’s approach? Offer more services, make banking as seamless as possible, and keep pushing the boundaries of traditional finance.With plans to roll out more digital banking services, Revolut is eyeing a future where customers rely on its app for everything—savings, investments, payments, and even international transfers. It’s a bold vision, but if any fintech can pull it off, it’s Revolut.Nik Storonsky: European Startups Aren’t Hustling Hard EnoughGiven his company’s eye-catching moves, Revolut’s CEO, Nik Storonsky, is more than happy to speak his mind. And his latest talking point? European startups simply aren’t working hard enough to achieve success.?New, mind-blowing interview with Revolut's Nik Storonsky by @brexhq's @hdubugras. Nik: "Great people don't need how are you?"He talks about his education, early business ventures and ideas, a career in trading, hobbies, the beginning of Revolut, growing the company and… pic.twitter.com/zLbsKKyMAp— Max Karpis (@maxkarpis) March 2, 2025According to Storonsky, many European entrepreneurs lack the hustle, ambition, and work ethic needed to build globally competitive companies. In contrast, he points to startups in the U.S. and Asia, where founders are willing to put in longer hours and take bigger risks to scale their businesses.“I think it is a cultural thing. People are more kind of, you know, protected, entitled, and they value kind of work-life balance much more compared to US or China. As a result, you just don’t have people working hard enough to achieve success,” Storonsky said during a podcast conversation with Henrique Dubugras, founder and chairman of fintech company Brex.Perhaps he has a point. Do European founders need to adopt a more aggressive growth mindset? Or do structural barriers—such as stricter labor laws and conservative investment culture—hold them back? Either way, Storonsky’s words are a challenge to any European startup looking to make it big.Revolut's Playbook: Disrupt, Expand, RepeatRevolut’s latest moves—partnering with Wizz Air and doubling down on Singapore paint a clear picture of its ambitions. This isn’t a company that’s content with just being another fintech player; it’s gunning for dominance across multiple markets and industries.The question now is: what’s next on the disruption checklist?For more stories of fintech, visit our dedicated archives. This article was written by Louis Parks at www.financemagnates.com.

Türkiye’s investment climate is gaining significant traction if a recent report that indicates that global investors are pouring billions into various sectors is anything to go by.The report dubbed Türkiye’s FDI Landscape at a Glance by the Investment Office of the Presidency of the Republic of Türkiye mentioned that the fintech industry in the region stands out, attracting major international backers and setting the stage for future unicorns.Besides that, there is reportedly an influx of foreign direct investment (FDI), credit rating improvements, and new infrastructure projects in the region, which is expected to boost Türkiye’s economic resilience and long-term growth potential.Türkiye’s Fintech Sector on the RiseInvestment Office President A. Burak Dağlıoğlu highlighted Türkiye’s strong fintech ecosystem during the annual Türkiye Entrepreneurship Ecosystem event. He emphasized the country’s potential to produce fintech unicorns, citing the sector’s robust development alongside deep tech, SaaS, and life sciences. Türkiye’s gaming industry also continues to thrive, ranking among the top globally.One major fintech success story is Dgpays, a Turkish financial technology firm that doubled its valuation following significant investment from the European Bank for Reconstruction and Development (EBRD) and Truffle Capital. This marks one of the largest international investments in Türkiye’s fintech sector, reinforcing its status as a key player in global fintech innovation.International credit rating agency Moody’s recently upgraded Türkiye’s outlook from “stable“ to “positive,“ citing the country’s return to orthodox monetary policies. Despite short-term inflation concerns, Moody’s noted improvements in monetary policy effectiveness and economic stability. The agency pointed to tightening measures that could help Türkiye reduce external imbalances and build stronger foreign currency reserves. The EBRD made a record €2.5 billion investment in Türkiye in 2023, significantly increasing its financial commitment from previous years.Türkiye’s FDI Boom and Sectoral Growth This surge in funding was driven by Türkiye’s post-earthquake recovery efforts, with over €800 million already allocated to affected businesses and individuals. A major portion of the investment also focused on supporting small and medium-sized enterprises (SMEs) and advancing the country’s green transition.Türkiye attracted an impressive $11 billion in FDI in 2023 despite a global downturn in investments. According to the Central Bank of the Republic of Türkiye, key contributors included major economies such as the Netherlands, Germany, the UAE, and the United States. Dağlıoğlu emphasized Türkiye’s resilience in attracting investment, noting that while many emerging markets saw declines in FDI, Türkiye’s ability to surpass $10 billion highlights its economic strength. He expects further increases in investments in 2024, driven by strong European and Gulf region collaborations. Türkiye is also making significant strides in technological and entrepreneurial infrastructure. This article was written by Jared Kirui at www.financemagnates.com.

Robinhood took another step in expanding its futures trading capabilities by collaborating with CQG, a provider of trading technology for brokers, commercial hedgers, and exchanges.According to the announcement, the collaboration will integrate CQG’s infrastructure to handle all future order routing for Robinhood’s derivatives customers and improve trade execution.As of the end of January, Robinhood reportedly had 25.5 million funded accounts and $204 billion in assets under custody. The platform has been growing its presence in derivatives trading, and this partnership with CQG now aims to enhance its order execution process. Robinhood and CQGCQG provides technology solutions for market participants ranging from retail traders to major financial institutions and exchanges. Ryan Moroney, CEO of CQG, highlighted the increasing interest in futures and options among retail investors. "There is phenomenal, growing interest by retail investors in futures and options, and we're delighted to play a role in meeting that need. CQG has been a pioneer in offering robust technology and connectivity for the futures industry for 45 years, and we've recently expanded into multiple asset classes,” he said.“We're honored that Robinhood, which has invested considerable resources and ingenuity into its popular, user-friendly mobile app, chose our technology to provide the 'pipes' for its critical ability to route orders rapidly and successfully to trading venues across the globe."With this partnership, Robinhood’s U.S. customers can reportedly access future products from CME Group across major asset classes. These include key U.S. equity indices such as the S&P 500, Nasdaq-100, Russell 2000, and Dow Jones Industrial Average, as well as bitcoin and ether, major foreign exchange currency pairs, key metals, crude oil, and natural gas.Expanding Robinhood’s Trading CapabilitiesRobinhood will reportedly leverage CQG’s application programming interface (API) to manage order routing for futures trades, non-U.S. equity, and equity options transactions. “Implementing CQG will be seamless to our customers while providing a robust backbone to their trading experience. I've personally used and deployed CQG technology and know firsthand the firm's commitment to excellence, resilience, and stability,” said JB Mackenzie, Vice President and General Manager of Futures and International at Robinhood.This move is reportedly part of a broader strategy to solidify Robinhood’s position in the futures market and provide its users with a more seamless trading experience. This article was written by Jared Kirui at www.financemagnates.com.

The Warsaw Administrative Court (WSA) has dismissed Conotoxia sp. z o.o.'s (one of Cinkciarz.pl subsidiaries) appeal against the Polish Financial Supervision Authority's (KNF) decision to revoke the company's payment services license, marking another development in the ongoing regulatory saga.Fintech, in its characteristic style, responds sharply: "The state protects the civil service caste," and announces another appeal, this time to the Supreme Court.Warsaw Court Backs KNF Decision in Conotoxia Payment Services CaseIn a ruling delivered on March 5, the court affirmed the KNF's October 2, 2024 decision to withdraw Conotoxia's authorization to operate as a domestic payment institution. The court found that the KNF had conducted its administrative proceedings correctly and properly established the facts of the case.“According to the WSA, the Commission exhaustively analyzed the grounds for revoking the permit, and comprehensively addressed the arguments raised by the Company,” KNF commented in the official statement published this week.The KNF's investigation reportedly revealed that Conotoxia had ceased to meet one of the essential requirements for holding a payment services license and failed to fulfill statutory obligations related to protecting funds received from payment service users. This situation, according to the regulator, posed a real threat to the interests of the company's clients.Conotoxia, however, strongly disagrees with the court's decision. In a statement, the company criticized the ruling as confirming "a deep crisis of the legal system in Poland" and accused the court of superficially addressing the arguments presented in their appeal.“The State Protect the Civil Service Caste”In a scathing statement, a Cinkciarz.pl spokesperson said, "We are again faced with bureaucrats who feel they can act above the law with impunity and beyond real state control." The company alleges that the court only superficially addressed the charges outlined in their complaint, particularly ignoring what they claim to be procedural violations by the KNF.Central to Conotoxia's grievances is the assertion that the KNF failed to notify the company of collected evidence and denied them the opportunity to respond before issuing its decision. The fintech firm also accuses the KNF of overstepping its authority by imposing obligations not stipulated in the law, describing it as "'law-making' activities, for which it has no competence." Conotoxia argues that the court's reliance on the "stereotype of a professional entity" regarding the KNF is misplaced, citing past controversies involving the regulator."We have repeatedly indicated the phenomenon of mutual protection and avoidance of responsibility by the state authorities," the Conotoxia representative stated. The company claims that “the state protects the civil service caste.”The company has announced its intention to file a complaint with the Supreme Administrative Court, signaling that this legal saga is far from over.Cinkciarz.pl Wants the Money, 1,200 Alleged Victims and… Toilet PaperThe history of the currency exchanger's dispute with the regulator and banks is starting to resemble a soap opera. Initially, the fintech threatened several Polish banks with lawsuits for billions of zlotys (though none of them have likely made it to court yet), then claimed that the prosecutor's office had initiated investigations against the KNF (although in reality, the request to start it was rejected).Meanwhile, the number of dissatisfied customers claiming they want to recover their money is growing. A significant group has gathered around a case being pursued by the prosecutor's office since last year, which mentions allegedly 1,200 victims and 328 blocked business accounts.At the same time, Cinkciarz.pl, which currently cannot exchange currencies as transfer attempts are blocked by banks, allegedly continues to demand payment from customers for failed transactions, sending payment reminders.The fintech doesn't hide this and claims that clients accepted the transaction terms, and it's not their fault that it cannot be executed."The blocking of funds by banks at the request of the prosecutor's office is not a result of our actions but rather a decision made by state authorities, which prevents clients from executing their agreements," Cinkciarz.pl explained in a statement. "In such cases, we expect clients to settle their obligations."The case has become so bizarre that Conotoxia announced that instead of currency exchange, it would start... producing toilet paper, as this doesn't require additional permits. The paper was supposed to be adorned with large golden letters "KNF". And although the fintech claimed it was an acronym for the Polish "I love finance", anyone with average intelligence can see that it's a typical mocking of the regulator. This article was written by Damian Chmiel at www.financemagnates.com.

Airwallex makes waves in Vietnam with its acquisition of CTIN Pay, reinforcing its Asia-Pacific expansion and setting its sights on new markets worldwide.Airwallex Goes Shopping: Vietnam EditionAirwallex, the global fintech powerhouse, is back on a spending spree, and this time, it’s Vietnam that’s caught its eye. The company has just announced the acquisition of CTIN Pay, a Vietnamese payment firm, in a move that cements its grip on the Asia-Pacific market. With an already dominant presence in cross-border payments, Airwallex’s latest buy signals an even bolder push into one of Southeast Asia’s most dynamic digital finance landscapes.Airwallex to Acquire Vietnam’s CTIN Pay in APAC Expansion Move Read here: https://t.co/0pqWGzJO8i#fintech #Vietnam #payments @airwallex— Fintech Vietnam (@FintechVN) March 5, 2025Why Vietnam? Because the market is ripe, the digital economy is booming, and Airwallex is clearly not one to miss an opportunity when it sees one. CTIN Pay, known for its robust payment infrastructure, will plug right into Airwallex’s global network, giving businesses in Vietnam and beyond seamless access to international transactions. The move furthers the company’s presence in Asia-Pacific (APAC) markets, where it holds licenses in Australia, Singapore, Hong Kong, Malaysia, New Zealand, mainland China, and Japan.Ershad Ahamed, newly appointed Head of Southeast Asia at Airwallex, highlighted the significance of the acquisition, saying, “Airwallex’s mission to empower businesses with seamless financial solutions resonates deeply with me. Southeast Asia is a dynamic and diverse market, and I look forward to driving Airwallex’s growth in the region. What excites me most is enabling businesses here to unlock international growth opportunities with confidence by harnessing our robust financial infrastructure.”The Bigger Picture: New Zealand and LatAm MovesAirwallex isn’t just expanding in Vietnam—it’s setting up shop in New Zealand too. The fintech giant recently launched operations in the country, marking yet another strategic move in its relentless global march. Why New Zealand? Because every market matters when you’re building an empire.And speaking of empires, Airwallex isn’t stopping at Asia-Pacific. The company has also been making aggressive moves in Latin America, boasting record profits while expanding into high-growth regions. The fintech firm’s LatAm foray includes key partnerships and acquisitions, further strengthening its ability to process cross-border transactions at scale.Arnold Chan, General Manager, APAC at Airwallex, underscored the company’s broader vision, stating: “Airwallex’s entry into Vietnam is a key step in our strategy to build a truly global financial platform. The fast-growing economy and dynamic business landscape in Vietnam offer immense opportunities. By addressing financial challenges in these markets, we empower local businesses to expand beyond borders. We’re particularly excited about our progress and continued expansion in APAC, the region where Airwallex was born.”What This Means for Airwallex (And the Competition)With CTIN Pay now in its pocket, Airwallex is positioning itself as the go-to name for businesses looking to move money globally with ease. The fintech space is crowded, but Airwallex’s strategy—acquiring key local players while expanding into high-growth markets—puts it ahead of the pack.? Scaling across borders, minus the complexity"With Airwallex’s 60+ licences, we only need 1 account to make payments and track transactions across multiple entities." — Dominic Ong, CFO, @endowus ? Endowus needed a smarter way to manage global finances—without multiple… pic.twitter.com/GL85MuF6IK— Airwallex (@airwallex) February 11, 2025While competitors scramble to keep up, Airwallex is building an interconnected network that makes cross-border payments feel as simple as a Venmo transfer. The company’s war chest is full, and its appetite for expansion shows no signs of slowing down.The Fintech Playbook: Acquire, Expand, RepeatAirwallex’s acquisition of CTIN Pay is a bold statement. The company is on a mission to create a truly international system, and Vietnam is another stepping stone. With fresh New Zealand operations, record profits, and an aggressive Latin American push, Airwallex is proving that the fintech game isn’t about who started first, but who scales the fastest.As traditional banks struggle to keep pace with this digital disruptor, Airwallex’s latest moves make one thing clear: the future of global finance isn’t just digital—it’s Airwallex-shaped. This article was written by Louis Parks at www.financemagnates.com.

eToro has announced the addition of five new cryptoassets: LayerZero, ZKsync, Pyth, EigenLayer, and Swell.This expansion follows the approval of a permit for eToro (Europe) Ltd, a subsidiary of the platform, by the Cyprus Securities and Exchange Commission (CySEC).New Layer-2 and DeFi Assets Launched"We’re pleased to announce the latest additions to our cryptoasset offering," said Omri Ross, Chief Blockchain Officer at eToro.LayerZero enables communication between different blockchains. ZKsync is a Layer-2 solution for Ethereum, speeding up transactions and lowering costs. Pyth provides real-time market data for DeFi platforms. EigenLayer enhances Ethereum’s security and efficiency through restaking. Swell is a staking protocol for Ethereum that integrates with DeFi platforms."We aim to offer our users access to a broad range of cryptos from longer-established, more well-known names through to ‘experimental’ tokens which represent newer projects in the blockchain space," Ross added. New Experimental Cryptoassets Unavailable in Select RegionsEigenLayer and Swell are classified as experimental cryptoassets. These assets are highly volatile, have low liquidity, and may offer new technologies. Other experimental assets on eToro include Toncoin, Pepe, and Official Trump. They carry higher risks, such as stability and liquidity concerns.To manage these risks, eToro has imposed limits on the value of positions users can open in experimental assets, based on their eToro Club tier.eToro has been providing retail clients access to crypto markets since 2013. However, the new cryptoassets are not available to users in the United States, UAE, Germany, or Australia. The platform allows users to buy, hold, and sell real underlying assets from over 100 cryptoassets.eToro Gains CySEC Permit for MiCAThe CySEC permit enables eToro to operate within the framework of the Markets in Crypto-Assets Regulation (MiCA), which regulates the crypto market and establishes clear rules for cryptocurrency trading, as reported by Finance Magnates. It also ensures the platform's compliance with MiFID, the EU directive overseeing financial markets. These regulations are designed to improve investor protection, increase transparency, and enhance regulatory oversight. This article was written by Tareq Sikder at www.financemagnates.com.

Revolut is facing pressure from investors to consider another secondary share sale at a staggering $60 billion valuation, Bloomberg reported. Shareholders are reportedly signaling interest in offloading their stakes while new investors seek a way into the booming fintech. This could mark a significant leap from Revolut’s $45 billion valuation just six months ago, reflecting the renewed enthusiasm in the sector.Surging Valuation Sparks Share Sale TalksSome existing shareholders have indicated they are open to selling their shares at the $60 billion mark, according to sources quoted by Bloomberg. However, Revolut has yet to initiate any formal process, and the company would need to authorize such a sale before it moves forward. The discussions arise as Revolut is poised to report an estimated $1 billion in pre-tax profit for 2024, nearly doubling from the $545 million recorded the previous year.The growing interest in Revolut shares reflects the broader fintech resurgence. Stripe, another major player in the sector, is arranging stock sales at a $91.5 billion valuation, up from $70 billion last year. Revolut’s previous share sale in mid-2023 saw high demand, with early investors and employees selling approximately $500 million worth of stock. The round, led by Coatue, D1 Capital Partners, and Tiger Global, was oversubscribed, prompting a follow-on sale in November. Even then, new investors scrambled to secure shares, highlighting strong market confidence.IPO Plans on the Horizon but Not ImminentDespite the buzz, sources suggest Revolut is unlikely to go public before 2026. The company is leaning toward a U.S. listing, reflecting its global ambitions. In the meantime, its expanding customer base, having surpassed 50 million users worldwide, places it among the largest financial institutions in terms of customer count, rivaling major banks like JPMorgan Chase and Bank of America.With fintech valuations on the rise and investor interest at an all-time high, Revolut finds itself at a pivotal moment. Whether the company authorizes another share sale remains to be seen, but the pressure is mounting as shareholders weigh cashing in on the soaring valuation. This article was written by Jared Kirui at www.financemagnates.com.

Conotoxia Holding's subsidiary Cinkciarz.pl is reportedly urging customers to fulfill payment obligations for currency exchange transactions despite the company's inability to process these transactions due to prosecutor-ordered account freezes.Currency Exchange Giant Cinkciarz.pl Demands Payments The currency exchange service, which has operated for over 14 years, claims the account blockages have caused "tremendous financial losses" for both the company and its clients. In a statement released today (Thursday), Cinkciarz.pl encouraged customers to file complaints with Poland's Financial Supervisory Authority (KNF) and the prosecutor's office, which it blames for the situation."The blockage of accounts and funds made it impossible to execute transactions, causing enormous damage to both the company and its customers," the company said in its statement. "Users are now forced to exchange currencies at much higher rates in banks and other institutions."However, some customers report receiving payment reminders from Cinkciarz.pl, with the company warning of potential liability for damages according to Article 471 of the Polish Civil Code if payments aren't completed.The Exchange Didn’t Happen, but Cinkciarz.pl Wants the MoneyAccording to reports from Bankier.pl and Facebook group members "Scammed by Cinkciarz.pl", customers attempting to exchange currency are seeing their transactions blocked by banks due to actions taken by the prosecutor's office. As a result, the funds are returned to their accounts.However, Cinkciarz.pl is allegedly still demanding payment, sending reminders under the subject line "Send transfer confirmation to this email."The exchange platform expects customers to settle their obligations, arguing that the transaction was initiated and approved. This has led to situations where Cinkciarz.pl is requesting payment for an exchange that never actually took place.|The blocking of funds by banks at the request of the prosecutor's office is not a result of our actions but rather a decision made by state authorities, which prevents clients from executing their agreements,” Cinkciarz.pl explained in a statement. “In such cases, we expect clients to settle their obligations.”“Unfair Market Practice”Legal experts, however, question the validity of these demands. Attorney Paweł Gugała from SG Legal characterized the practice as potentially misleading."The client is not responsible for the fact that Cinkciarz.pl has a blocked account and cannot perform the currency conversion service," Gugała explained in an interview with Bankier.pl. "This type of action constitutes, in my opinion, an unfair market practice."The company is preparing court proceedings in Zielona Góra after filing a complaint with prosecutors in Poznań. Cinkciarz.pl is also drafting motions to change what it calls "disproportionate" security measures that are destabilizing operations.Losses and Alleged Bankruptcy ClaimFinancial reports indicate Conotoxia Holding, Cinkciarz.pl's parent company, has not posted profits for at least eight years. By the end of 2023, according to Bankier.pl, the holding company had accumulated net losses of 191 million zlotys (approximately $48 million) and had outstanding loans totaling 130 million zlotys (about $32.5 million).In January, a customer reportedly filed for bankruptcy proceedings against Cinkciarz.pl in an attempt to recover €50,000, but the case was dropped after the claimant failed to submit required documentation and pay a required deposit.All of Cinkciarz.pl’s current problems began in October, when the KNF revoked the company’s payment license. At the same time, the prosecutor’s office also launched an investigation into the fintech’s activities.From Currency Exchange to Toilet PaperThe company has been unable to process customer withdrawals since October 2024 and has engaged in public disputes with regulators, including a controversial announcement that it would produce toilet paper branded with "KNF" - which the company claimed stood for "I Love Finance the Most" in Polish.Cinkciarz.pl maintains that banks, regulators, and law enforcement are responsible for its current situation, while continuing to insist that customers should fulfill their payment obligations for transactions that cannot be completed.The company also suggested last week that the prosecutor’s office had launched an investigation into the KNF at its request. However, information obtained directly from the prosecutor’s office by Finance Magnates indicated that the request for an investigation had been rejected. This article was written by Damian Chmiel at www.financemagnates.com.