Gemini Has Obtained Its MiFID II License
Weekly news up to Tuesday, 13th of May 2025
👀 NEWS HIGHLIGHT
Gemini has just received an Investment Firm License from the Malta Financial Services Authority (MFSA). Once we commence business activities, we will be able to offer* regulated derivatives throughout the EU and EEA under MiFID II (Markets in Financial Instruments Directive), a framework regulating the traditional financial markets.
This is a hugely exciting development in our 2025 European expansion, as it puts Gemini one step closer to offering our derivative products to both retail and institutional users in the EU and the EEA.
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NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ DenizBank partners with Konsentus to enhance open banking operations.
⭐️ Scalable Capital launches this summer: Accounts for Kids.
⭐️ Swissquote Seeks to Shake Crypto Link Despite 1,500% Stock Rally.
⭐️ Major change to customers of 30 UK banks after new Post Office deal.
FINTECH
Klarna has postponed its planned U.S. initial public offering (IPO) due to market instability caused by recent tariff policies introduced by former President Donald Trump. The company had intended to raise over $1 billion at a valuation. Meanwhile, Klarna rethinks the AI cost-cutting plan by calling for real people. The company is piloting a new cohort of customer-service agents who can work remotely, aiming to replace outsourced human agents and tap into candidates such as students or rural populations.
Italy's Nexi beats first-quarter core profit expectations. The company is targeting low-to-mid single-digit percentage growth in net revenue and at least a 50-basis-point increase in its core profit margin. Keep reading
Corsair closes $600m continuation and secondary fund to back European FinTech portfolio. Corsair said the fund will enable the companies to continue executing value-creation initiatives such as tech optimisation, go-to-market strategies, human capital enhancement, and bolt-on M&A.
PAYMENTS
Mollie launches payment solutions in Portugal for the growing e-commerce market. Mollie's expansion into the Portuguese market will help businesses, from startups to large corporations, simplify online and in-person payment processing, reporting, fraud prevention, and financing.
Visa Compelling Evidence 3.0: How to save $10M in revenue in one year with Solidgate. This article explores the functionality of CE3.0 and explains why it may serve as a critical component in a comprehensive strategy to safeguard revenue. Read the full article here
REGTECH
Revolut chooses Fourthline as a strategic partner. The partnership was further solidified by Fourthline's exceptional customer-centric approach, which includes dedicated account management and technical support tailored specifically to Revolut's unique operational needs.
XTransfer is officially licensed as EMI by the Dutch Central Bank. This significant milestone demonstrates international recognition of XTransfer's excellence in compliance, security, and service capabilities, and will further accelerate the company's localised development in Europe and its global strategic expansion.
DIGITAL BANKING
Allica Bank completes £5.85 million bridging facility and celebrates record month for bridging finance. The facility, introduced by Arc & Co, was secured against an office building in Marylebone. Together, they have proven how a strong broker-bank relationship can support smooth execution.
SPIN has more than 400,000 users. Launched a year ago by Banco de Portugal, the SPIN service has rapidly gained popularity. SPIN enables users to initiate credit and instant transfers using the recipient's mobile number or business identification number (NIPC) instead of the traditional IBAN.
CRYPTO
Robinhood plans to use blockchain to trade US assets in Europe. It will allow retail investors in Europe to trade US securities such as stocks. The venture will likely be launched through a partnership with a digital-asset firm. Keep reading
PARTNERSHIPS
Tether adds Chainalysis tokenization platform for compliance and monitoring. Hadron by Tether platform users will now have access to risk detection and real-time transaction monitoring, helping them become compliant with regulators. The move comes amid expanding oversight across the crypto industry.
DONEDEAL
Juice raises £25m for founder-focused lending platform. With the new funding in place, Juice says it is on track to reach a £100 million loan book with £25 million annual turnover by 2028. Keep reading
British FinTech startup Ravio raises €10.6 million to modernise compensation data for global workforces. With Series A funding, Ravio will continue its international expansion to help compensation Rewards leaders access modern tooling needed to deploy competitive pay strategies.