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The FCA announced an October 29 settlement with Huobi Global S.A., securing High Court undertakings concerning unlawful UK cryptoasset promotions. HTX no longer operates actively in the UK: consumers cannot deposit, new UK users cannot register, and the platform cannot target or solicit UK consumers. The settlement does not constitute an admission of liability or wrongdoing.
Blockchain Capital led PhotonPay’s $40 million Series C, with SBI Group joining as a new investor. PhotonPay says it will use the funding to expand local clearing, global card issuing, embedded finance and automated execution capabilities within its stablecoin-centered financial platform.
Source: FinextraSpain marks Monzo’s first market launch in continental Europe, extending the bank’s geographic footprint. The launch brings Monzo into competition for Spanish customers’ accounts and everyday banking activity; the supplied coverage does not quantify funded accounts, salary deposits or payment usage.
Source: FinextraWealthsimple raised US$302 million at a US$9.8 billion valuation. The company said new checking-account openings exceeded new investment-account openings for the first time in the second quarter, marking a shift in account acquisition beyond its original investment offering. The figures do not establish how many customers use Wealthsimple as their primary bank.
Source: PYMNTSGalaxy Digital applied to the OCC for a national trust bank charter to bring digital-asset custody, trading, staking and fiduciary investment advisory services under a single federal framework. The proposed structure builds on more than 50 existing licences. Galaxy still needs OCC approval, and the charter would not permit deposit-taking or commercial lending.
Source: Banking Dive“Singapore launched PayNow domestically in 2017. Singapore and Thailand linked PayNow and PromptPay in 2021, allowing users to send money between the countries using recipients’ mobile numbers rather than bank-account details. Source: Monetary Authority of Singapore, “PayNow” — https://www.mas.gov.sg/development/fintech/paynow
Filed under: Payments History · The Long Memory
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