Zurich, 26 January 2022 – Today, UBS and Wealthfront, an industry-leading, automated wealth management provider serving the next generation of investors, signed an agreement whereby UBS would acquire Wealthfront in an all-cash transaction valued at $1.4 billion. Through this acquisition, UBS will accelerate its growth ambitions in the US, broaden the firm’s reach among affluent investors and expand its distribution and capabilities.

SoFi Technologies Inc. is buying Technisys SA for $1.1 billion, the latest in a series of mergers to make the lender a one-stop financial shop. 

The all-stock acquisition represents 10% of SoFi's market value. SoFi now owns its core-banking platform, which powers mobile banking apps, opens accounts, and tracks consumer deposits. 

Chime confirmed it is firing 12% of its staff. This makes a total of 160 individuals. Britt and co-founder Ryan King are recalibrating marketing budget, reducing contractors, altering workspace demands, and renegotiating vendor contracts, according to the memo. 

Opendoor announced 18% layoffs. About 500 employees. Opendoor co-founder and CEO Eric Wu called their publicly traded real estate fintech "one of the most challenging real estate markets in 40 years." 

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.