Shein’s advisers are pitching the fast-fashion giant to investors at a valuation below $30 billion for its Hong Kong IPO, a roughly 70% drop from the $100 billion-plus valuation it hit in a 2022 private fundraising. Internally, Shein set a target of $3…
South Africa has proposed banning corporate cross-border stablecoin transactions, in draft rules released jointly by the Reserve Bank and National Treasury. It is one of the most aggressive attempts by any emerging economy to force borderless digital t…
Nik Storonsky wants a bigger slice of Revolut, and he has picked an ambitious price. The cofounder and chief executive is in talks over a new share award, the Financial Times reported. It would grow his stake if the fintech reaches a $500 billion valua…
A businessman in Sussex watched £14,244 drain out of his Metro Bank account. The money went on credits for Claude, the AI chatbot he already paid to use. Two things failed at once. Criminals had turned a chatbot into a way to cash out stolen cards. And…
The AI memory shortage has reached the phone-shop counter. T-Mobile is rolling out financing that lets customers walk out with a new handset for nothing down. It does this by spreading not just the device but its taxes and fees over three years. The re…
Two former Nubank executives have raised $85m to build an AI wealth adviser in Brazil. Their backers call it the largest seed round in Latin American history. The startup, Decade, came out of stealth on Tuesday with money from Greenoaks, Benchmark and …
The race to modernize cross-border payments is increasingly shifting toward emerging markets, where businesses continue to face high costs, settlement delays, and fragmented financial infrastructure despite growing international trade. Australian finte…
Visa is acquiring Tel Aviv-based fraud detection startup BioCatch for $2.4 billion in cash from private equity firm Permira and other investors. BioCatch’s platform analyses keystroke timing, touchscreen pressure, swipe patterns, and device handling to…
Robinhood is launching a second publicly traded closed-end fund that will invest in private companies from the Y Combinator ecosystem. Robinhood Ventures Fund II filed to offer 7.6 million shares at $25 each, with pricing expected after market close on…
Revolut is handing its customers free access to ChatGPT, the result of a new partnership with OpenAI. The fintech, which says it now serves more than 75 million people worldwide, is bundling OpenAI’s ChatGPT Go into its subscription plans, giving anywh…