Issue #8 - New revenue tricks for old FI's.
Crypto profits for mainstream FIs
“A significant portion of their cards were being used to buy crypto assets, and crypto cards were being used to access the assets and convert them to traditional currencies for spending.” Jerusalem Post: Visa, Mastercard are taking crypto. So what’s next?
Banks are getting a piece of the Crypto revenue action thanks to Core systems providers.
Profit pools moving to alternative payment networks.
Banks and vendors aren’t going to miss out on money transfer revenues waiting for SWIFT and other traditional networks to modernize.
Is regulatory pressure motivating banks to find new ways to maintain margins?
Funding, M&A and IPOs
Bloomberg: Cagney’s Figure Valued at $3.2 Billion in Latest Funding Round “The company’s pay business... is still growing as the firm seeks to go after industry giants such as Visa Inc. and Mastercard Inc”
IBSintelligence: Thunes raises US$60 million in Series B growth round (Cross-border APN)
London News Today: ThetaRay Moves to Cloud with $ 31 Million Fundraising. TheataRay spots fraud risk in payments data.
News18: Zeta Becomes Latest Entrant to Unicorn Club With $250 Million SoftBank-Led Funding (software to help banks modernize faster)
Zephyrnet: Pipe hits $2 billion valuation within a year of launch. Pipe’s platform is an exchange for financing recurring revenue businesses.