Dutch neobank Bunq has been hit with a €2.6 million fine for “serious deficiencies” in its anti-money laundering (AML) controls. Regulators flagged inadequate transaction monitoring and gaps in customer due diligence, raising concerns about compliance robustness across the fast-growing neobank sector. The penalty underscores increasing regulatory scrutiny on fintechs as they expand rapidly, often outpacing risk and compliance frameworks. For Bunq, the fine is both a financial and reputational setback at a time when trust is critical to attracting customers. The case also sends a signal to the broader industry that regulators are stepping up enforcement around AML obligations. Neobanks and fintechs with aggressive growth strategies will likely face heightened oversight going forward.
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Insight of the Day
The Great Stablecoin Chain Grab: Circle’s Arc vs. Stripe’s Rumored “Tempo”
The payments world is watching. If Circle and Stripe prove custom blockchains can meaningfully reduce costs and speed settlement, expect others to follow. MastercardNet? PayPalChain?
Imagine sipping coffee with a fellow fintech nerd when they drop this bombshell, “Did you hear Stripe and Circle are both building their own Layer-1 blockchains?” It sounds crazy, but it’s true. In the past few months, payments giant Stripe (yes, that Stripe) and stablecoin issuer Circle have each unveiled plans for custom L1 blockchains – Stripe’s project reportedly called “Tempo” and Circle’s chain known as “Arc.” This is like Visa and PayPal each deciding to build their own version of Ethereum. What’s going on here, and why now? Let’s break it down.
Curated News
💳 Payments
TSB Warns Music Fans After Surge in Scam Losses
TSB data shows Oasis and Taylor Swift fans were frequent targets of scammers, with many losing money to ticket fraud. The bank is urging stronger consumer awareness and faster fraud prevention measures from platforms handling ticket sales.
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🏦 Banking
AI-Powered Ryt Bank Launches in Malaysia
Ryt Bank, a fully AI-driven institution, has launched in Malaysia, offering personalized banking experiences powered by artificial intelligence. The move highlights the growing role of AI in transforming customer service and operational efficiency in traditional banking.
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Citigroup Shares Sink Amid Stablecoin Outflow Concerns
Citigroup shares dropped to 75th in trading volume following warnings of potential outflows tied to stablecoins and wider risks to the banking sector. The development highlights how crypto-linked liquidity concerns are spilling into traditional banking markets.
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💸 Fintech
CredRight Secures $10M to Expand Loan Portfolio
Indian fintech CredRight has raised $10 million in a Series B round to expand its loan portfolio for small businesses. The funding underscores continued investor appetite for inclusive credit solutions in India’s fast-growing fintech sector.
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Tin Men Leads $18.1M Round for SG Fintech Firm
Singapore-based fintech secured $18.1 million in Series B funding led by Tin Men Capital, fueling expansion of its financial services offerings. The raise reflects Southeast Asia’s strong fintech investment momentum.
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Estonian Startup Creem Raises $1.9M Pre-Seed
Estonian fintech Creem closed a $1.9 million pre-seed round to build out its early-stage financial platform. The raise demonstrates growing investor interest in Baltic fintech innovation.
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🪙 Crypto
Robinhood Battles States Over Prediction Markets
Robinhood is suing multiple U.S. states in a bid to legalize turning sports bets into Wall Street-style trades. The outcome could reshape the regulatory landscape for prediction markets and alternative trading products.
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Pantera Capital Plans $1.25B Solana Treasury Firm
Crypto investment giant Pantera Capital is eyeing a $1.25 billion raise to launch a Solana-focused treasury management firm. If successful, the move could cement Solana’s position as a core blockchain for institutional finance.
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Medical Device Firm Surges After Solana Pivot
A medical device company’s stock spiked after it announced a pivot to managing a $400 million treasury on Solana. The shift reflects the growing corporate interest in leveraging blockchain for treasury and balance sheet strategies.
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Crypto Market Hit by $900M Liquidations
Bitcoin, Ethereum, and Dogecoin all fell sharply as liquidations topped $900 million across exchanges. The selloff underscores the persistent volatility and leverage risks in the digital asset market.
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Metaplanet Joins FTSE Japan, Keeps Buying Bitcoin
Japanese investment firm Metaplanet has been added to the FTSE Japan index while continuing its Bitcoin accumulation strategy. The listing could broaden institutional exposure to Bitcoin through traditional equity channels.
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BitMine’s Ethereum Stash Nears $8B
Mining company BitMine’s Ethereum reserves approached $8 billion following ETH’s all-time high. The milestone positions BitMine as a major institutional player in Ethereum’s evolving ecosystem.
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Ripple’s Banking Ambition Could Send XRP to $50
Analysts suggest XRP could surge to $50 if Ripple secures a U.S. banking charter. Such a move would legitimize Ripple as a regulated banking entity and potentially unlock massive utility for XRP.
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🌍 Other
OCBC Uses Blockchain for $1B US Commercial Paper
Singapore’s OCBC has launched a $1 billion blockchain-based digital commercial paper program in the U.S. The initiative demonstrates how banks are adopting blockchain to improve efficiency in capital markets.
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AirTrunk Secures $10.4B for Green Data Centres
Data centre operator AirTrunk closed $10.4 billion in green financing to expand sustainable infrastructure across Asia-Pacific. The deal is one of the largest financings of its kind, underscoring the growing intersection of finance and climate strategy.
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Blitz Raises Pre-Series A for EV Logistics in Indonesia
Indonesian EV logistics startup Blitz secured a pre-Series A round to scale its delivery fleet. The funding reflects rising investor interest in green mobility solutions across Southeast Asia.
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Temu Parent Pinduoduo Reports $14.5B Q2 Revenue
Pinduoduo, parent of Temu, posted $14.5 billion in Q2 revenue, up 7% year-on-year. The results highlight the continued strength of Chinese e-commerce players despite regulatory and competitive pressures.
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Australian AI Startup Apate Raises $1.6M Seed
Sydney-based AI startup Apate secured $1.6 million in seed funding from Investible. The funding will accelerate development of its financial risk detection platform.
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