StoneX to Adopt Swift Payment Pre-validation Service LeapRate

December 27, 2023 BY Sam Boughedda

StoneX to Adopt Swift Payment Pre-validation Service

Cross-border payments have notoriously been plagued by complexities, including regulatory hurdles, bank downtime, and rising competition. In addition, inaccurate beneficiary details alone account for nearly a third of failed cross-border transactions, incurring significant costs and delays, according to the financial services company. Recognising the challenges, Swift said it has introduced its Payment Pre-validation service, which…

December 20, 2023 BY Simon Mugo

Revolut Generates $2Bn in Revenues, Adds 40m Clients Globally

Despite a challenging year for fintech companies, Revolut has experienced substantial growth, driven by an influx of new customers. The startup attracts nearly 300,000 users weekly, expanding its global customer base to nearly 40 million. This impressive growth comes amidst stiff competition from traditional banks and other fintech startups. The latest financial developments offer reassurance…

December 18, 2023 BY Simon Mugo

Zenfinex Raises $15 Million for Its Proprietary Trading Tech

Now operating its consumer services under the Taurex brand and its business-to-business services as Zenfinex, the group is planning a significant investment in its own technological developments following the recent influx of funds. The investments include the development of a new mobile app and an enhanced web platform, as shared with Finance Magnates. The launch…

December 15, 2023 BY Simon Mugo

eToro Adds Almost 700 US Stocks to Its Tradable Assets Portfolio

The expansion not only offers a broader range of stock options to eToro's users but also aligns with the company's mission to provide cost-effective trading solutions. The users now have the chance to diversify their investment portfolios more robustly by adding these stocks. The expansion covers a variety of new stocks, thus broadening investment choices…

December 13, 2023 BY Simon Mugo

oneZero’s CEO Announces Plan To Launch Innovative Tools in 2024

Andrew Ralich, the CEO of oneZero, highlights that these developments are part of four key themes planned for the next year. These include advancements in artificial intelligence (AI) for analysing foreign exchange (FX) data, strategies to capitalise on market flow, and adapting to the T+1 settlement shift in North America. Ralich emphasises the importance of…

December 12, 2023 BY Elizabeth Anderson

Citigroup Inc. announces new investment into Colombian fintech Supra

According to a press release, Citi’s cross-border payment solutions will help the fintech expand across Colombia, with a potential reach into other neighbouring countries. Supra has also received backing from early-stage capital investor Far Out Ventures and the early-stage capital management fund H2O Capital Innovation. Don’t miss out the latest news, subscribe to LeapRate’s newsletter…

December 05, 2023 BY Elizabeth Anderson

Adyen partners with Klarna to streamline online card payments

As of December, Klarna had 150 million consumers and 500,000 retail partners worldwide. The existing partnership between the two companies supported interest-free Pay Now and Pay Later options for Adyen customers. Focusing on a new strategy, this refreshed agreement establishes Adyen as an acquiring bank on behalf of Klarna. It will come into effect in…

December 04, 2023 BY Simon Mugo

Plus 500 Expands Its US Presence by Joining FIA

This membership with the FIA, established in 1955, is a strategic step for Plus500. The FIA advocates for the futures, options, and derivatives markets and includes various members such as futures commission merchants, principal traders, clearing firms, exchanges, and trading firms. Plus500's membership aligns them with other significant market players in these fields. David Zruia,…

November 27, 2023 BY Simon Mugo

Tiger Brokers Parent, Up Fintech, Adds 24,604 Customers in Q3

The company's impressive financial results underscore its commitment to providing innovative solutions to its growing customer base. In the latest financial highlights, UP Fintech witnessed a remarkable 26.6% year-over-year increase in total revenues, reaching an impressive $70.1 million. Meanwhile, net revenues also experienced notable growth, rising by 13.5% to $58.0 million. The standout achievement, however,…

November 07, 2023 BY Elizabeth Anderson

Ebury announces plans to launch IPO in 2025

Santander (SAN.MC) owns the majority stake in Ebury. At a funding drive last year, it increased this control to 67%. Presently, Ebury, a UK-based firm, is valued at £900m. Ebury specialises in payments, cash management, and business-based trade finances. Lobato further said the company’s latest financial results, which will be published soon, reflect spiked growth.…

Category: Fintech