The market for tokenized real-world assets has grown significantly overt the past years and is projected to accelerate even further over the next decade. Between 2025 and 2033, the market is expected to achieve a compound annual growth rate (CAGR) of 53%, soaring from US$600 billion to US$18.9 trillion, according to a new report by digital asset infrastructure provider Ripple, and Boston Consulting Group (BCG). This surge is being fueled by increased regulatory clarity in major markets, the maturation of technological infrastructure, and continued strategic investments activity by banks. The potential of asset tokenization Asset tokenization is the process of…

Marshmallow, a London-based motor insurer for people who have recently emigrated to the UK, has raised €79.4 million in funding. This follows a Series B round three years ago, during which the company’s valuation nearly doubled to over €1.7 billion. The funding round was backed by Portage, BlackRock, and Columbia Lake Partners. The capital, a combination of equity and debt, will help Marshmallow expand its product range and support plans for international growth. Oliver Kent-Braham, Co-CEO and Co-founder of Marshmallow, stated: “Our ambition is to become a one-stop-financial-shop for newcomers so they feel as though it’s easy to move to,…

Volt, a real-time payments platform, has announced a new open banking partnership with Sumsub, a full-cycle verification provider. Under the agreement, Volt will support Sumsub’s Penny Drop Verification process, which directs users to their banking app after scanning an identity document. As part of the verification flow, users will be asked to make a €0.01 payment via Volt’s hosted checkout, which will be refunded in real time. Volt’s Matchmeter, an Account Information Services (AIS) tool, will then verify whether the account holder’s name matches the name on the submitted identity document. The collaboration uses Volt’s Payment Initiation Services (PIS) and…

Global Pay by Bank platform Banked has announced its acquisition of the UK-based consumer payments app VibePay, a move aimed at accelerating the adoption of Pay by Bank services through enhanced consumer and merchant incentives. VibePay connects users, brands, sellers, and banks via real-time messaging and instant payments. The acquisition is intended to address what Banked describes as a gap in the current payment ecosystem. According to Banked, while debit cards accounted for 86% of card payments in the UK in 2023, users received less than 2% of the rewards typically offered in credit card incentive schemes. By combining Banked’s…

Quantum computing presents an emerging threat to Switzerland’s financial sector, but despite its growing relevance, there is currently no dedicated quantum-safe framework. To address this gap, the Swiss Financial Innovation Desk (FIND), an independent unit within the Swiss State Secretariat for International Finance tasked with promoting financial innovation in the country, has proposed an action plan for Switzerland’s financial institutions to implement. This plan is designed to help financial institutions in Switzerland to mitigate quantum risks and position the country as a global leader in quantum-safe financial services. FIND’s action plan for a quantum-safe future FIND’s action plan, outlined in…

Lloyds Banking Group has successfully migrated its core machine learning (ML) and GenAI platforms to Google Cloud’s Vertex AI. The announcement was made during the Google Cloud Next conference in Las Vegas, marking a significant step in Lloyds’ broader strategy to deploy impactful AI use cases at pace, according to the bank. The migration involved moving 15 modelling systems, which include hundreds of individual models, from on-premise infrastructure to the cloud. Lloyds stated that more than 300 data scientists and AI developers across the group are now using the new platform, which has already driven the development of over 80…

Inventx, an IT and digitalisation partner for Swiss banks and insurance companies, has completed the transformation of Visana’s IT infrastructure. Visana, an insurance provider, outsourced its IT operations, including business applications, to Inventx. The project introduced a modern platform aimed at improving performance, stability, and quality. The transformation included setting up a new infrastructure, migrating over 100 applications, and coordinating more than 50 external service providers. The transition also involved organisational and procedural changes. With the project now completed, Visana and Inventx are entering a new phase of long-term collaboration. Planned initiatives include the development of a new service portal,…

Hamburg-based FINEXITY, a platform for digital assets, has announced the acquisition of Swiss company Crowdli AG. Alongside its subsidiary Crowdlitoken, Crowdli specialises in tokenised real estate investments. The acquisition was completed through a contribution in kind, in exchange for newly issued shares. Through the agreement, FINEXITY AG will take over Crowdli and its operational subsidiaries based in Liechtenstein and Switzerland. As a result of the transaction, Crowdli’s existing shareholders will become shareholders in FINEXITY. This addition of 39 new shareholders expands FINEXITY’s shareholder base to more than 100, all of whom share an interest in the company’s long-term strategy. The…

TransferMate, a provider of embedded B2B payments infrastructure as a service based in Kilkenny, Ireland, has announced the appointment of Gary Conroy as its new CEO. He will succeed Sinéad Fitzmaurice, who will step down from her role this summer but remain involved with the company. Sinéad has been CEO since 2019, overseeing the company’s significant growth and expansion. Sinéad’s professional relationship with TransferMate’s founder, Terry Clune, spans over two decades, beginning with her role as CFO at Taxback before moving to TransferMate as CFO and later succeeding Clune as CEO. “I want to thank Sinéad for her outstanding work…

Mastercard has entered into a partnership with Kraken to enable real-world Bitcoin and cryptocurrency payments across the UK and Europe. The collaboration will allow Kraken users to spend their digital assets at over 150 million merchants worldwide that accept Mastercard, marking a move towards greater integration of cryptocurrency into everyday transactions. “Mastercard is committed to driving innovation and expanding the possibilities of digital payments,” said Scott Abrahams, Executive Vice President of Global Partnerships at Mastercard. “Our partnership with Kraken is a concrete demonstration of this, as we work together to unlock the true potential of cryptoassets for everyday use.” Kraken…

Hawk, a Germany-based provider of AI-driven anti-money laundering (AML), screening, and fraud prevention solutions, has secured US$56 million in Series C funding. The company, which supports over 80 clients globally – including Tier 1 banks, mid-sized financial institutions, and fintech firms – will use the funds to drive product development and expand its presence internationally, with a particular focus on the United States. The funding round was led by One Peak, with participation from existing investors Macquarie Capital, Rabobank, BlackFin Capital Partners, Sands Capital, DN Capital, Picus, and Coalition. Hawk’s technology aims to address limitations in traditional rules-based AML and…

Though Europe has emerged as a hotspot for fintech innovation and the creation of billion-dollar startups in the sector, profitability remains elusive for many. According to an analysis by Sifted, a media focused on the European startup ecosystem backed by the Financial Times (FT), only 13 of Europe’s 66 fintech unicorns are profitable fintech companies. This showcases that many of these startups are prioritizing rapid growth over sustainable revenue. These companies are also facing high customer acquisition costs, intense competition, and the challenge of monetizing services in markets where consumers expect free or low-cost financial tools. The following 13 fintech…

French accounting fintech Pennylane has raised €75 million in its latest funding round, doubling its valuation to €2.2 billion, CNBC reported. The round was led by Sequoia Capital, with participation from Alphabet’s CapitalG, Meritech, and DST Global. Founded in 2020, Pennylane offers an all-in-one accounting platform designed specifically for SMEs. The software includes tools for expensing, invoicing, cash flow management, and financial forecasting. Chief Executive and Co-Founder, Arthur Waller. explained, “We came in tailoring a product that looks a bit like [Intuit’s] QuickBooks or Xero but adapting it to the needs of continental accountants, starting with France.” The company currently…

Changing customer expectations and technological advancements are reshaping the commerce landscape, transforming how businesses engage with payments and consumers. Among the most significant commerce and payments trends to watch for in 2025 are the rise of artificial intelligence (AI), embedded finance and payment orchestration, according to a new report by Global Payments, a American fintech company specializing in payment technology and services to merchants, issuers and consumers. This report draws from Global Payments’ research and conversations with industry experts from leading financial institutions, businesses and payment networks. It also draws from a proprietary survey of 600 global professionals involved in…

Thredd, a London-based global payments processor, has announced the appointment of Simeon Lando as Chief Marketing Officer (CMO) to support its international expansion and business growth. Lando brings over 25 years of experience in B2B marketing, having held leadership roles at Form3, Finastra, Oracle, PayPal, and Barclaycard. His expertise in enterprise technology and payments marketing will contribute to Thredd’s global strategy. Jim McCarthy, CEO of Thredd, stated: “We have strengthened Thredd’s position for its next growth phase by bringing in a talented new leader. I am pleased to welcome Simeon as our Chief Marketing Officer. His extensive experience in building…

Zurich-based impact investor BlueOrchard Finance has provided US$20 million in debt financing to TBC Bank Uzbekistan (TBC UZ), the country’s largest digital bank. This latest investment increases BlueOrchard’s total funding commitment to TBC UZ to US$45 million, following an initial US$25 million agreement signed in August 2024. The funds will support the bank’s lending expansion, with a particular focus on SMEs in Uzbekistan. Philipp Mueller, CEO of BlueOrchard, said: “We are looking forward to deepening our relationship with TBC, whose mission to expand financial inclusion in Uzbekistan closely aligns with our values. We are confident that this additional funding will…

Bank Frick, based in Liechtenstein, is expanding its international presence with plans to open a branch in Dubai’s finance and growth market. The bank has applied for a category 4 licence from the Dubai Financial Services Authority and expects to receive it in 2025. The new branch will be located in the Dubai International Financial Centre (DIFC). Edi Wögerer, CEO of Bank Frick, explained, “Dubai has successfully positioned itself as a blockchain and crypto hub in recent years, but is also becoming increasingly attractive for asset managers and family offices. At the same time, Dubai is a growth market and…

The latest data from the International Energy Agency (IEA) shows that global energy consumption grew significantly in 2024, increasing by 2.2% — almost twice the pace observed over the past ten years. This rise was largely driven by soaring electricity demand, spurred by extreme weather conditions, industrial activity, and ongoing advances in electric transport and digital infrastructure. Although developing nations contributed the largest share of this growth, energy demand in Europe also saw a notable rebound — marking its first year of growth since 2017. This turnaround comes after multiple years impacted by pandemic aftershocks, unstable energy markets, and renewed…

Zepz, the global payments group headquartered in London and the parent company of WorldRemit and Sendwave, has secured a total of US$165 million in revolving and term facilities. The US$110 million revolving credit facility was led by HSBC Innovation Banking, while HSBC Private Credit acted as the sole underwriter for the US$55 million term facility. This financing strengthens Zepz’s financial position and equips it with the resources to capitalise on new market opportunities. Led by HSBC, these facilities replace a previous US$80 million arrangement and build upon a decade-long partnership between Zepz and HSBC Innovation Banking UK. Zepz operates two…

Revolut, the UK-based neobank, announced on April 1 that over one million private customers in Switzerland are now using its services. The company opened a local office in Switzerland just last year, which now allows it to engage directly with clients in the country. To date, Revolut has attributed its growth to organic factors, driven by referrals and word of mouth rather than large-scale marketing campaigns. As finews.com reported, the company’s expansion has been primarily through this organic approach. Roughly one in six Swiss residents between the ages of 20 and 64 has signed up with Revolut. For comparison, local…