Remitly Wants to Be Your Bank Now
Hey Payments Fanatic!
Remitly has been moving money across borders for over a decade. Last week, it decided to go further.
The Seattle-based company launched its Global Card, combining direct deposits, fee-free local spending, and global ATM access into one product for immigrant workers and underbanked customers.
Interesting move, the logic behind is: if you already trust Remitly to send money home, why not use it for everything else too?
Scroll down for more Payments news 👇 See you tomorrow!
Cheers,
NEWS
🇮🇳 Flipkart and PayU Finance launch Pay Later, offering flexible credit options directly at checkout across Flipkart, Myntra and Flipkart Minutes. The service provides customers with repayment choices including Pay Later, Pay in 3 and EMI plans, expanding access to digital credit in India.
🌍 Flutterwave to acquire an undisclosed bank in East Africa as IPO talks delay. The company plans to use acquisitions to fast-track its expansion into lending, trade finance and other financial services. Continue reading
🇺🇸 Remitly launches Global Card to expand beyond cross-border money transfers. The new Visa debit card and linked account allow customers to get paid, spend, save, and send money across borders from a single balance. The offering includes direct deposits, peer-to-peer transfers, fee-free local spending and, for eligible customers, the ability to hold funds in U.S. dollars or USDC.
🇺🇸 Dakota applies for a U.S. national trust bank charter. The company has submitted an application to the U.S. Office of the Comptroller of the Currency seeking a national trust bank charter as it expands its financial infrastructure offering. If approved, the charter would allow Dakota to offer digital asset custody, stablecoin issuance and related services to institutional clients.
🇳🇴 Dune became one of the first EU companies to accept stablecoin payments through Stripe, allowing enterprise customers to purchase data products and APIs using digital dollars. The integration enables faster, low-cost, and auditable on-chain payments while reducing friction from FX conversions and wire transfers.
🇰🇷 Shinhan Bank partners with StoneX Payments to enhance its cross-border payment and foreign exchange services. The agreement gives the South Korean bank access to institutional-grade payment infrastructure across more than 140 currencies and 180 countries, with phased integration beginning immediately.
🇺🇸 Global banks test tokenized money for cross-border payments in $1 million BIS pilot. Twenty-eight global banks, including JPMorgan, Citi and UBS, completed the pilot, which processed about $1 million across six currencies, demonstrating blockchain-based settlement using tokenized bank money.
🇦🇪 du Pay has launched Flexi Cash Loan, a new digital lending service that gives eligible UAE customers instant access to cash loans of up to AED 5,000 through its app. The product aims to expand access to short-term credit with a fast, paperless, and transparent borrowing experience.
Want your message in front of 315.000+ FinTech fanatics, founders, investors, and operators?
Shoot me a message on LinkedIn or send me an e-mail.
Comments ()