Banking Infrastructure

Starling Bank has given children aged between 6 and 16 access to an account that will enable them to view their balance and transactions and receive spending notifications.

Earlier this month, El Salvador became the first ever country to make bitcoin legal tender, alongside the US dollar. While this may spell good news for those who trade in the cryptocurrency, is El Salvador the first of many countries to legalise bitcoin or will it be a one-off?

Australian business banking alternative Zeller has secured A$50m from a recent funding round to supercharge the development of its integrated business banking platform.

Viva Republica, the Seoul-based FinTech company operating mobile financial app Toss raised $410m in fresh funding, which values the company at $7.4bn.

UK open banking platform TrueLayer has launched a new Verification API to make the onboarding process for its customers easier.

Open platform that accelerates collaboration in financial services Finastra has established a new partnership with information and communications technology (ICT) systems integration company Uni Systems to help European financial institutions undergo digital transformation.

A pilot program by UK micropayments firm Shrap has begun two pilot programs in Essex and Denny, Scotland to trial and test scalable solutions to help keep cash sustainable.

The World Bank has declined to help El Salvador with the integration of Bitcoin into its currency system highlighting concerns around the environment and transparency.

The Bank of England (BofE) FinTech chief has said the introduction of a central bank digital currencies (CBDC) doesn’t require a trade-off between privacy and tackling financial crime.

FinTech startup MFast raised $1.5m in a pre-series A funding led by Do Ventures.