A major fintech firm has announced many significant changes, including decoupling its payment services from other financial offerings and resuming USDC stablecoin use on Solana, Ethereum, and Polygon networks after six years.
Furthermore, the company plans to introduce new financial and AI features, expanding on its technical prowess and hinting at a strategic shift in its operations.
Meanwhile, Brazilian startup QI Tech has reached unicorn status following undisclosed investments led by General Atlantic. The company also revealed its intention to acquire Singulare, a top fund administration services provider in Brazil, with the acquisition likely to conclude in the third quarter.
The acquisition is part of QI Tech’s ambitious expansion strategy. It will solidify QI Tech’s position in the Brazilian fintech space while widening its scope of services.
Similarly, creator-focused platform Bump has successfully completed a seed funding round with backing from ImpactX, Capitalize, and Serac Ventures. Bump provides useful tools to creators for managing income, securing profitable contracts, and tracking revenue, helping facilitate business growth and financial stability.
Fresh funding will likely see Bump scale its operations, potentially develop new features, and expand its customer base, further underscoring the importance of customized financial tools in the creative realm.
Chilean B2B fintech startup Bennu is also set to extend its operations in Chile and Mexico, a market it entered just a year ago.
Fintech firm resumes stablecoin and plans growth.
Conversely, a newly founded startup in the Philippines has designed a unique service that allows US citizens to remit money back home while smoothly enhancing their credit score.
Ola Financial, a fintech startup based in Bengaluru, has earned the Small Finance Bank license. This development is expected to expedite product deployment and make room for innovation, enhancing their customer service experience.
However, not all fintech ventures have had a smooth run. Hardy, a business finance startup, was forced to shut down due to high-interest rates and a lack of support from VC and partners. Synctera, a banking-as-a-service startup, is expected to be acquired after a financially challenging year. Additionally, fintech firm Lendstar reportedly fell into receivership due to liquidity issues. Cryptaur, a decentralized protocol for social and business interactions, was declared bankrupt due to market volatility and regulatory challenges.
