First Abu Dhabi Bank Joins CIPS as MENA’s First Direct Participant
Weekly news up to Monday, 23rd of June 2025
👀 NEWS HIGHLIGHT
Revolut, one of the biggest neobanks in the world, is continuing its pursuit of creating its own stablecoin, sources familiar with the matter told Decrypt.
The development comes amid a growing list of non-crypto companies now considering issuing their own stablecoins as the regulatory environment shifts in the United States and around the world.
📰ARTICLE OF THE WEEK
The UK stands as Europe's unrivaled leader in neobank innovation in 2025.
Check this out👇 Any neobanks missing on this market map?
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🔦 DIGITAL BANKING HIGHLIGHTS
⭐️ First Abu Dhabi Bank joins CIPS as first direct participant from MENA.
⭐️ Salt Bank Appoints Vikram Tikoo as Chief Technology Officer.
⭐️ Revolut announces changes in Romanian branch management team.
⭐️ Lunar becomes first Nordic bank to process Visa cards on Pismo’s cloud-native platform.
Discover FinTech innovation across APAC. Stay informed with weekly updates—join now!
🌎 REGIONAL HIGHLIGHTS
UK 🇬🇧
Revolut adds Solana to boost crypto access. By integrating Solana, Revolut is giving users access to a network built for speed, low fees, and smart contract functionality, the tools that power decentralized apps and digital finance. Keep reading
Revolut will soon launch its AI financial assistant, according to UK CEO Francesca Carlesi, who noted that fierce competition was boosting the FinTech industry, while leading to convergence between new players and established banks. “FinTech is not just about new small startups starting to attempt to do something,” she said.
Monzo partners with BlackRock to offer 11 ETFs designed to attract more investors. The new ETF offering will be rolled out to new customers from today and will be available to existing customers in the coming weeks. Read more
Experian welcomes Monzo to the support hub. As part of Experian Support Hub, more than 12 million Monzo UK customers will now be able to share their access and support needs with them and multiple businesses in an accessible, simple, and standardised way.
Pixpay targets €14 million in ARR by the end of 2025. The neobank for teens, acquired by British firm GoHenry in 2022 for £17.4 million, announces a redesign of its offerings, its upcoming launch in Germany and Benelux, as well as the rollout of a financial education coach.
UBS invests in UK FinTech Icon Solutions to shape the future of payments technology. The collaboration helps UBS drive innovation at scale and enhances its capabilities for seamless instant payments and advanced transaction processing. Continue reading
OnePay adopts Flagright’s AI-Powered AML and transaction monitoring platform. OnePay will gain real-time oversight of all customer transactions, including domestic transfers, card activity, and international payments. This partnership supports OnePay’s efforts to strengthen its compliance operations as it scales its services and navigates evolving regulatory expectations across the UK and EU.
EUROPE 🇪🇺
Klarna challenger Zaver becomes a bank. The company has been granted a license for financing activities by the Swedish Financial Supervisory Authority. This authorization allows Zaver to provide payment services under the Swedish Payment Services Act and the European PSD2 regulations.
N26's Comeback: CEO Valentin Stalf on Rebuilding After Regulatory Setbacks. Stalf reflects on challenges faced by the neobank, including regulatory setbacks from BaFin and slowed growth. With restrictions lifted, N26 aims to regain momentum with a renewed focus on operational excellence and sustainable growth.
Revolut crackdown possible, government would tighten neobanks with new tax. The legislation would tighten the rules for paying the transaction fee and eliminate the loophole that neobanks have been able to rely on so far. According to the new definition, any operation that reduces the user's account balance may be subject to the fee, even if it is just an internal transfer.
USA 🇺🇸
JPMorgan to pilot deposit Token JPMD on Coinbase-linked Blockchain. JPMorgan will move a fixed amount of JPMD from the bank’s digital wallet to the biggest US crypto exchange, Coinbase, Naveen Mallela, global co-head of the bank’s blockchain division Kinexys by JPMorgan, said in an interview.
LATAM
Openbank welcomes over 100,000 customers in Mexico. According to Matías Núñez Castro, CEO of Openbank Mexico, “Reaching this milestone of 110,000 customers in under four months confirms the great potential of our 100% digital banking model in the Mexican market. This is the first step of a clear strategy: to make Openbank the most empathetic, efficient, and approachable digital banking model in Mexico.”
Payments at Nubank can be made via voice and audio. The new feature allows users to make transfers simply by speaking or typing phrases such as “send X reais to Fulano”. The feature uses AI to understand commands and process the operation, reducing the time spent carrying out a Pix by up to 60%.
Nubank is the main bank for 21.7% of Brazilians. Okiar Consultancy surveyed more than a thousand Brazilians to analyze users' relationships with financial institutions. The survey revealed that each Brazilian has, on average, four bank accounts, highlighting the multiplicity of options available on the market.
ASIA
Bank Muamalat taps Backbase for AI-driven Islamic banking. By harnessing Backbase’s AI-powered Banking Platform, ATLAS delivers a faith-aligned digital experience with seamless onboarding, DuitNow integration, Shariah-compliant financing, and personalised servicing, setting a new benchmark for Islamic financial services in the region.
Vivid is now available for Swiss customers. Swiss people can finally make purchases across the EEA in euros without exchange rates, giving them peace of mind wherever they shop. Vivid expansion to Switzerland is a step forward in its mission to make money management simpler and more rewarding for everyone.
K-Bank launches third attempt at IPO, targeting $3.6 billion valuation. This is similar to the valuation it aimed for during its previous IPO attempt, based on the upper end of the indicative price range, and the company is once again seeking investors at that level.
Kakao Bank wins approval for Thailand's first virtual bank. Thailand's central bank said the digital lenders are expected to enhance customer experience, increase efficiency, and drive healthy competition through innovation and better pricing.