An impartial party determines a 409A, which affects Stripe's common shares. If Stripe goes public, their preferred shares will be changed into common shares, devaluing their holdings. 

Stripe's current valuation is $74bn, down from $95bn, with an internal share price of $29. On 30 June, the payments processor emailed its share drop. 

Stripe follows several major fintech startups that have suffered severe devaluations since 2022. Klarna, a popular BNPL provider, closed a $800m investment round at a $6.7bn valuation, a sharp drop from its $46bn valuation last year. 

CellPay, a leading telecommunications company that provides services through its telco and bill payment platform, and MoneyGram International, Inc., a global leader in the ev

Payworld, one of Bharat’s leading fintech platforms is on a mission to bridge the Digital Financial Divide between India & Bharat. In the year 2022, Payworld crossed the milestone mark of being associated with one million retailers across Bharat, who are now serving their communities in semi-urban, rural, and underbanked communities in urban India.

Onramp.money, a major payments service provider for crypto players in India, has announced an integration with Jump.trade, a leading NFT marketplace in Asia. Via onramp.money, users on the platform will now be able to purchase and trade non-fungible assets and digital collectables using INR, simplifying the process of onboarding the untapped masses onto Web 3.0.

OKX, the world’s second-largest cryptocurrency exchange by trading volume, today announced a strategic partnership with DappRadar, a global app store for decentralized applications (DApps), to offer OKX users new ways to connect, discover, and interact with Web3.

Japan-based fintech Smartpay has launched Smartpay Bank Direct, the country's first digital consumer finance service that allows customers to pay for online instalment purchases straight from their bank accounts. Smartpay Bank Direct emphasizes user security while delivering convenience for the consumer, through a network of 67 partner banks across Japan. Smartpay is Japan's first digital consumer finance company to utilize Japan's open banking system.

Akulaku ("the Company"), a leading banking and digital finance platform in Southeast Asia, today announced a $200 million investment from Japanese megabank Mitsubishi UFJ Financial Group (MUFG). The investment provides additional support for Akulaku's projected growth as it advances towards its mission of providing banking services across Southeast Asia with an emphasis on reaching underserved customers and markets.

LexisNexis® Risk Solutions announced today that its suite of payment reference and validation solutions— LexisNexis® Bankers Almanac® Payments — has been named the Best Payment Solution at the AMTD DigFin Innovation Awards. The 2022 AMTD DigFin Innovation Awards, organized by DigFin, recognizes outstanding industrial leaders that excel in the fields of asset management, insurance, capital markets, banking and payments.

On Tuesday, the Securities and Exchange Commission (SEC) fined 16 of Wall Street's major financial organisations $1.1 billion for failing to supervise employee correspondence. 

Barclays Capital, Citigroup, Morgan Stanley, Goldman Sachs, and Bank of America will pay SEC recordkeeping law penalties. These companies' investment banking executives, equity, and debt traders have violated the Securities Exchange Act of 1934 by using unmonitored personal devices to discuss business.

SEC Chair Gary Gensler stated: 

Three months after its CEO, Vishal Garg, fired over 900 employees on a Zoom call, Better.com announced on Tuesday that it will terminate more than a third of its staff this week. 

When mortgage rates were low and the online lending business developed, the SoftBank-backed company, which has just over 9,000 employees in the US and India, quadrupled in size. However, real estate market fluctuations and the likelihood of a Federal Reserve rate hike this month have hurt it.