Fintech Nexus Newsletter

Late Friday, we learned that Synapse has filed for Chapter 11 bankruptcy and that its assets will be acquired by payments infrastructure company TabaPay. This will not come as a surprise to anyone who has been following the slow-moving Synapse saga for the last 12+ months. The company had done multiple rounds of layoffs and had an ongoing dispute with Mercury.

It’s almost a year since those fateful few days that toppled the crypto king from his throne, and at last, Sam Bankman Fried’s trial is over.

Swift announced today that the European Payment Council's awkwardly named One-Leg-Out Instant Credit Transfer scheme (OCT Inst) went live this week and it enables payments to and from Europe to be processed 24 hours a day, seven days a week.

The fintech space, and the tech space more broadly, is enamored with company valuations. The term unicorn arose out of that fascination.

In Congress, anything that helps small businesses typically comes with bipartisan support. But section 1071 of Dodd-Frank is a little complicated.

So far this year we have seen so many negative stories about banking as a service. You could be forgiven that BaaS is dying a slow and painful death.

BaaS fintech Synapse is having a rough year. Synapse and its clients need to be removed from Evolve's platform by December 31.

The Israel-Palestine conflict rages on, and for many fintech workers in Tel Aviv, life has had to continue through the chaos.

In a blog post yesterday describing their 2024 plans, we learned that X will be launching peer-to-peer payments later this year. We know that the company has been slowly obtaining money transmitter licenses as it builds out its payments capabilities. But this is the first time we have heard about concrete plans to launch a payments service.

It has been the talk of the crypto world all week. SEC watchers noticed early this week that the regulator appeared to be getting ready to approve an ETF for funds holding Ethereum.