On May 24, the central bank published the final list of CBDC pilot participants. Participants were chosen from a pool of 36 bids made by single companies and consortia, “totaling more than 100 institutions”. The final number of participants is 14; however, some represent groups of companies. For example, the United States-based tech giant, Microsoft; Brazil-based bank, Banco Inter; and the digital technology company, 7COMm, comprise one of the 14 participants.

Read more: Cointelegraph

The post Visa, Microsoft and others join Brazilian CBDC pilot appeared first on FinTech Ranking.

The partnership aims to launch a digital asset exchange and broker in Thailand by Q4 2023.

“Local users can expect access to a trusted and regulated service that prioritizes user security alongside compliance with local regulations,” said Richard Teng, head of Asia, Europe, and MENA at Binance, in a statement.

Read more: The Block

The post Binance joint venture granted licenses in Thailand to open regulated exchange appeared first on FinTech Ranking.

The decision was made by Japan’s cabinet on Tuesday after the nation’s anti-money laundering steps were deemed insufficient by global financial crimes watchdog FATF, the report said.

Read more: CoinDesk

The post Japan to Enforce Tougher Crypto Anti-Money Laundering Laws Next Month appeared first on FinTech Ranking.

Tencent, the lead investor in the fintech’s $70 million Series B extension raise in December 2021, participated in this pre-Series C round and increased its stake to become TymeBank’s third-largest shareholder. TymeBank is majority owned by Patrice Motsepe’s African Rainbow Capital (ARC); the South African fintech is backed by other investors, including the British International Investment (BII), Apis Growth Fund II, JG Summit Holdings (JG Summit), African Fig Tree (AFT) and the Ethos AI Fund.

Read more: TechCrunch

The post South African challenger bank TymeBank raises $77.8M appeared first on FinTech Ranking.

Specifically, today QED is announcing an “oversubscribed” $650 million early-stage fund – its eighth – and a $275 million growth-stage fund (the second of its kind), both of which are aimed at backing fintech companies primarily in the U.S., the United Kingdom and Europe, Latin America, Africa and Southeast Asia. 

Read more: TechCrunch

The post QED closes on $925M to back fintech startups globally appeared first on FinTech Ranking.

The Venmo Teen Account allows parents to monitor transactions, manage privacy settings and send money to their teen. Teens can track their own spending in the Venmo app and may be eligible to receive direct deposits, enabling funds to be paid directly into the Venmo Teen Account from an after-school job, for example.

Read more: TechCrunch

The post Venmo targets young consumers and parents with new teen accounts and debit card appeared first on FinTech Ranking.

The announcement comes months after NY Magazine published an explosive feature on the neobank detailing a lawsuit brought on by three former employees as well as alleged fabrications and inappropriate behavior on the part of Curtis. 

Founded in 2020, Daylight raised a total of $20 million in funding. Anthemis Group led its $15 million Series A in 2022. Other backers include Kapor Capital, Precursor Capital, Clocktower, Financial Venture Studio and Citi.

Read more: TechCrunch

The post Daylight, the LGBTQ+ neobank, calls it quits appeared first on FinTech Ranking.

The new feature, called ‘Split payment’, allows customers “to decide how much of an inbound payment, such as their salary, to put away and where, including their saving Spaces, joint accounts, additional accounts and Kite cards.”

‘Split payment’ users can “organize inbound payments either by value or percentage.”

Funds are then “organized instantly, with no need to make lots of individual transfers of different amounts to different accounts or Spaces.”

Read more: Crowdfund Insider

The post Starling Bank Supports Money Management Tools with “Split Payment” Feature appeared first on FinTech Ranking.

“This decision comes after concerns about the platform’s compliance with local regulatory requirements and protecting investors’ interests,” the regulator said Monday. It added that operating a digital asset exchange without being registered is an offense under section 7(1) of the Capital Markets and Services Act 2007.

Read more: The Block

The post Huobi Global ordered to stop operations in Malaysia by the Securities Commission appeared first on FinTech Ranking.

The fine, imposed by Ireland’s Data Protection Commissioner (DPC), came after Meta continued to transfer data beyond a 2020 EU court ruling that invalidated an EU-U.S. data transfer pact. It tops the previous record EU privacy fine of 746 million euros handed by Luxembourg to Amazon.com Inc in 2021.

Read more: Reuters

The post Meta hit with record $1.3 bln fine over data transfers appeared first on FinTech Ranking.