Wise explores a UK banking license 🇬🇧🏦; Trump family's crypto venture faces market reality 🤷♂️📉; Klarna expands debit-first card to Europe 💳🇪🇺
FinTech is Eating the World, 4 September
Hey Everyone,
Good morning & happy Thursday! Today’s issue is especially interesting as we’re looking into Wise, which now explores a UK banking license (what it’s all about & why it’s a good move + bonus deep dive into Wise inside), Trump family's crypto venture facing market reality (what happened here and what does this mean for the future of FinTech), and BNPL heavyweight Klarna, which just expanded its debit-first card to Europe (why it matters & what to expect next + bonus deep dive into Klarna’s IPO & why you should be bullish on the Swedish FinTech giant). Let’s just jump straight into the fascinating stuff 🌶️
Wise explores a UK banking license 🇬🇧🏦
The news 🗞️ International money transfer company Wise is considering applying for a UK banking license, marking an interesting (yet logical) evolution for the FinTech that recently moved its primary stock listing from London to New York.
According to reports, the company has initiated early-stage discussions with financial services executives over the past two months regarding roles needed to establish banking operations in the UK, though no formal regulatory application has been submitted.
Let’s take a look at this and see why it’s actually a brilliant move.