Standard Chartered has launched SC GPT, a GenAI tool, across 41 markets worldwide as part of its strategy to integrate AI into its business. The tool is designed to improve operational efficiency and client engagement. SC GPT is expected to support over 70,000 employees globally by improving operations and productivity, tailoring sales and marketing efforts to drive revenue, advancing software engineering through automation, and enhancing the way risks are measured, managed, recorded, and reported. Mohammed Rahim, Group Chief Data Officer at Standard Chartered, said: “The tool has been developed with strong governance and ethical AI principles at its core. As…

NMI, an Illinois-based provider of embedded payments infrastructure, has announced the availability of its Tap to Pay solution on the Google Play Store. In collaboration with Mastercard, NMI is expanding its payments technology with a cloud-based acceptance solution. It is the first in the US to offer Cloud Commerce, a software-based system that enables businesses to accept contactless payments on eligible Android devices without additional hardware or setup. With nearly half of all US businesses expected to adopt software point-of-sale (SoftPOS) systems by 2030, merchants are seeking cost-effective and adaptable payment solutions. NMI’s Tap to Pay service allows businesses to…

Mercury, a San Francisco-based fintech company providing banking, credit cards, and financial software, has announced a US$300 million Series C investment round. The round, led by Sequoia Capital, includes both primary and secondary funding, valuing Mercury at US$3.5 billion post-money – more than double its US$1.6 billion valuation in 2021. Other new investors include Spark Capital and Marathon, alongside existing investors Coatue, CRV, and Andreessen Horowitz. “Mercury began with the vision that banking should do more than safely hold money – it should bring all the ways people and businesses use money into a single product that feels extraordinary to…

US President Donald Trump has signed an Executive Order to modernise the way the Federal Government handles payments, eliminating outdated paper-based transactions in favour of fast, secure electronic payments. The White House states that this initiative aims to enhance efficiency, reduce costs, and bolster security across all government disbursements and collections. Effective 30 September 2025, the Federal Government will cease issuing paper cheques for all payments, including intragovernmental transactions, benefits, vendor payments, and tax refunds. Under the Executive Order, all executive departments and agencies must transition to modern electronic funds transfer (EFT) methods, such as direct deposit, debit and credit…

Morgan Stanley Investment Management announced that funds managed by Morgan Stanley Expansion Capital and Morgan Stanley Private Credit have provided US$125 million in senior debt financing to FreshBooks, a provider of cloud-based accounting software for small businesses. This investment will be used to refinance existing debt and support the company’s continued growth. Toronto-based FreshBooks offers SaaS software designed for service-based small and medium-sized businesses (SMBs), with a primary focus on the US and Canadian markets. Functioning as a core operating system for its customers, FreshBooks provides an intuitive platform that facilitates invoicing, payment processing, time tracking, and payroll management. Pete…

Rain, a global card issuing platform powered by stablecoins, has secured US$24.5 million in new funding, led by Norwest Venture Partners. New investors include Galaxy Ventures, Goldcrest, Thayer, and Hard Yaka, while existing backers Lightspeed Venture Partners, Coinbase Ventures, Vinyl Capital, Canonical Crypto, and Latitude Capital also participated. The company has also announced its principal membership with Visa, enabling it to expand card issuance in Europe and strengthen its operations in the US and Latin America. With a vertically integrated issuing stack and Visa principal membership, Rain can sponsor and operate card programmes in multiple countries, with transactions settling in…

The price of the Ripple-linked XRP token surged more than 10% on Wednesday, March 19, afternoon after Ripple Chief Executive, Brad Garlinghouse announced that the Securities and Exchange Commission (SEC) would withdraw its appeal of a prior ruling. Brad Garlinghouse said on the social media platform X that the case against his company “has ended.” “Today is a victory — and a long overdue surrender by the SEC,” he said. In October, the SEC appealed a court decision that determined Ripple’s sales of the XRP cryptocurrency over exchanges were not required to comply with investor-protection laws, The Wall Street Journal…

Tala, a global financial infrastructure company based in California, has secured a US$150 million debt facility with investment management firm Neuberger Berman. The funding will support Tala’s expanding business in Mexico. With an initial committed capital of US$75 million, the facility allows Tala to access up to US$150 million, marking its largest capital markets transaction to date. Since launching in Mexico in 2017, Tala has provided financial services to millions of consumers seeking to build credit and improve economic opportunities. The company plans to use the proceeds to strengthen its lending capabilities and develop its AI-powered financial platform. “We are…

Kraken, a cryptocurrency trading platform has agreed to acquire NinjaTrader, a US-based retail futures trading platform, for US$1.5 billion, subject to certain purchase price adjustments. The acquisition is expected to enhance Kraken’s presence in the US futures market and support its expansion into multiple asset classes, including equities and payments. Founded in 2003, NinjaTrader provides trading tools to nearly two million futures traders and operates as a CFTC-registered Futures Commission Merchant (FCM). Kraken co-CEO, Arjun Sethi, stated, “Traditional markets run on banking systems from the 1950s and post-WWII, exchanges that close at 4 p.m. ET, and settlement delays that take…

Ualá, an Argentina-based neobank operating in Latin America, has secured an additional US$66 million in its Series E funding round, bringing the total raised to US$366 million. The initial close, led by Allianz X, took place in November 2024. The second close included investment from TelevisaUnivision, a major Spanish-language media company. The funding will support Ualá’s expansion in Mexico, Argentina, and Colombia, as well as further development of its digital financial services. Founder and CEO, Pierpaolo Barbieri, stated, “We are proud of the investor demand to be part of our story, which reaffirms their trust in our long-term vision of…

Elon Musk’s social media platform, X, has secured nearly US$1 billion in fresh equity from investors, maintaining a valuation consistent with when Musk took the company private in 2022. Musk personally participated in the fundraising, according to sources familiar with the matter, Bloomberg reported. Some of the funds may be used to reduce X’s outstanding debt, one of the sources said. The deal values X’s equity at approximately US$32 billion. The original Twitter buyout involved at least US$12.5 billion in debt, meaning this latest funding round maintains the company’s overall enterprise value at around US$44 billion – the same as…

Temenos, a Switzerland-based banking technology company, has announced the opening of a new Innovation Hub in Central Florida to support its US clients and advance banking solutions. The company plans to recruit around 200 technology and product developers at the hub, focusing on research and development for US-specific banking solutions, including the use of GenAI. The facility is designed to facilitate collaboration between Temenos, its clients, and partners to develop practical banking solutions. Financial institutions visiting the hub will have direct access to emerging technologies and work alongside Temenos experts. Jean-Pierre Brulard, CEO of Temenos, stated: “This investment is in…

Crypto.com has secured its Virtual Asset Service Provider (VASP) registration from Argentina’s National Securities Commission (CNV), allowing it to offer regulated cryptocurrency products and services in the country. The company will continue working with the CNV to obtain a full operating licence under the new regulations introduced on 14 March 2025. “The Latin American market, particularly Argentina, is experiencing significant growth in cryptocurrency adoption and is a key focus of Crypto.com’s expansion strategy,” said Alain Yacine, President of Latin America at Crypto.com. “We are pleased to have achieved this regulatory milestone and look forward to providing Argentine consumers and traders…

Airwallex, has launched its ‘Shifted Perspectives’ campaign for the 2025 Formula 1 season in collaboration with the McLaren Formula 1 Team and acclaimed First Nations artist, Reko Rennie. As an Official Partner of the McLaren Formula 1 Team, Airwallex has strengthened its partnership through this creative collaboration with Reko Rennie, an internationally recognised Kamilaroi artist. Rennie’s bold and thought-provoking work explores Indigenous identity and contemporary urban culture, aligning with the campaign’s theme of ‘shifting perspectives’. His design for the McLaren Artura incorporates camouflage and graphic diamond patterns, with the diamond shape serving as a tribute to his Kamilaroi heritage, resembling…

XTransfer, a China-based company, specialising in providing foreign trade enterprises is collaborating with Brazil’s Ouribank on payment and foreign exchange services. By integrating Ouribank’s infrastructure, XTransfer can now offer clients expanded local payment and fund collection options. Businesses with an XTransfer account can receive payments in Brazilian Real (BRL) from Brazilian buyers. Buyers in Brazil and Latin America can pay Chinese and global suppliers in BRL via PIX, removing foreign exchange complexities. Beyond traditional trade clients, XTransfer has established partnerships with major e-commerce platforms in Latin America. E-commerce businesses, particularly Chinese clients, can receive payments from Brazil through their XTransfer…

Representatives of former US President Donald Trump’s family have engaged in discussions to acquire a financial stake in the US division of cryptocurrency exchange Binance, The Wall Street Journal reported on March 13. Binance’s billionaire founder, Changpeng Zhao has been seeking a pardon from the Trump administration, citing sources familiar with the matter. In November 2023, Zhao stepped down as CEO of Binance and pleaded guilty to violating US anti-money laundering laws as part of a US$4.3 billion settlement, resolving a years-long probe into the world’s largest cryptocurrency exchange. The Wall Street Journal report also revealed that Binance reached out…

Nirvana Insurance, a California-based AI-driven commercial trucking insurer, has raised US$80 million in a Series C funding round, valuing the company at nearly US$850 million. The round was led by General Catalyst, with continued backing from Lightspeed Venture Partners and Valor Equity Partners. The funding follows a year in which Nirvana exceeded US$100 million in premiums, more than doubling its revenue. The company plans to use the investment to expand and further develop its AI-driven commercial fleet insurance technology. Nirvana integrates IoT data from telematics devices in commercial fleets, having analysed over 20 billion miles of real-world driving. Its AI…

Texas-based neobank Zolve has secured US$251 million in its latest equity and debt financing round. The round was led by Indian private equity firm Creaegis, an existing investor, with participation from HSBC, SBI Investment, and others. This latest funding, the largest in the company’s history, has resulted in a valuation of approximately US$800 million, according to Reuters. The investment comes at a time when venture funding in the United States has remained subdued, while activity in India has seen a notable increase. Creaegis, headquartered in Bengaluru, also led Zolve’s previous financing round in 2024. Zolve aims to address credit challenges…

Mesh, a San Francisco-based crypto payments network, has secured a US$82 million Series B funding round, bringing its total funding to over US$120 million. The round was led by Paradigm, with participation from Consensys (parent company of MetaMask), QuantumLight Capital (founded by Revolut CEO Nik Storonsky), Yolo Investments, and others. Mesh has previously received investment from PayPal Ventures, Galaxy Ventures, and MoneyForward. In a significant development for venture funding and stablecoins, most of the US$82 million investment was settled using PayPal USD (PYUSD) stablecoin. The use of PYUSD enabled instant and secure fund transfers via Mesh’s technology. The key advantages…

Plata, a Mexican digital bank that received its banking license in December 2024, has successfully completed its Series A equity round, achieving a valuation of US$1.5 billion less than two years after its launch and after acquiring over one million active credit card users. The Series A round raised US$160 million and was led by Kora, an investment firm focusing on emerging digital economies, pending regulatory approvals. Other contributors included Moore Strategic Ventures and various investors from the US and Europe. Since its inception, Plata has accumulated US$750 million in debt and equity investment to deploy within Mexico. This investment…