The Mauritius-based firm said the licence marked a “significant step” in its strategy to establish a regulated presence in the UK, one of the world’s largest financial hubs with an estimated 19 million active traders in 2024. “We’re incredibly proud to take this step,” said Gareth Derbyshire, spokesperson for Ultima Markets. “Becoming FCA-regulated reflects our…
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Under the terms, Western Union will pay $16 per Intermex share, representing a premium of around 50% to its 90-day volume-weighted average price. The transaction, unanimously approved by both companies’ boards, is expected to close by mid-2026 subject to shareholder and regulatory approvals. Western Union said the acquisition would strengthen its U.S. retail platform, enhance…
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The London-listed fintech group posted revenue of $415.1m for the six months to June 30, up 4% from $398.2m a year earlier. EBITDA edged 1% higher to $185.1m, representing a margin of 45%. Active customers rose 2% to 179,931, while the average revenue per user increased 2% to $2,307. Average deposits per active customer more…
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The Australian Securities and Exchange Commission said Monday that the Federal Court has ordered iSignthis Ltd, now trading as Southern Cross Payments Ltd, to pay a $10 million penalty for breaching disclosure laws, while its former CEO, Nickolas John Karantzis, has been fined $1 million and banned from managing corporations for six years. According to…
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The approval enables TransferMate Pte. Ltd. to expand its services in Singapore, allowing clients to store funds in dedicated local Global Accounts. The company stated that this enhancement will make it easier for customers with Asian operations to transfer money in and out of the region, convert currencies, and manage payroll and supplier payments from…
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OTP Bank is one of Hungary’s largest commercial banks and part of OTP Group, a leading banking group in Central and Eastern Europe undergoing significant growth. Its decision to join CLSSettlement is said to reflect the increasing adoption of payment-versus-payment (PvP) settlement solutions among financial institutions seeking to reduce foreign exchange settlement risk, enhance operational…
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Pugh was found guilty at Southwark Crown Court of one count of conspiracy to defraud. He had earlier pleaded guilty to carrying out unauthorised regulated activity and breaching sections 19 and 21 of the Financial Services and Markets Act 2000. Through his fraudulent Imperial Investment Fund (IIF), Pugh is said to have targeted 238 investors,…
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According to FINRA, in July 2021, Goldman acted as lead underwriter for an IPO that raised approximately $700 million. Around 13.5% of the proceeds, $96 million, were used to repay a loan from a Goldman affiliate. FINRA said this constituted a conflict of interest, requiring the involvement of a qualified independent underwriter (QIU) to oversee…
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Anchorpoint is said to have lodged an expression of interest with the Hong Kong Monetary Authority (HKMA) on 1 August, the day the Stablecoins Ordinance came into effect, signalling its intent to apply for a stablecoin issuer licence. The venture aims to develop a business model for issuing and advancing regulated stablecoins in the city.…
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The San Francisco-based blockchain company said Rail’s technology will enhance Ripple Payments’ network, which already offers broad payout capabilities, liquidity in digital assets, and more than 60 licences for compliant payment flows. Rail adds virtual accounts and automated back-office infrastructure to streamline customer operations. “Stablecoins are quickly becoming a cornerstone of modern finance, and with…
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