💸 Kraken’s Money Play

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Hey Fintech Explorers—Welcome back to Money Explored, your essential Sunday newsletter to stay ahead in fintech!

From Kraken’s bold banking play to Apple’s EU reckoning and Fiserv’s stablecoin debut—things are heating up on all fronts.

Here’s what we’re diving into:

• Kraken drops its all-in-one global money app. 💸

• Apple bows to EU pressure with App Store changes. 🔄

• Fiserv teams up with PayPal and Circle for a stablecoin play. 💰

Plus: A major crypto player gets an EU upgrade, a Spanish bank quietly disrupts Germany, and BNPL just got real with your credit score.

It’s all happening—and that’s just the start…

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Let’s dive in!

🌎 3 Major Stories

Dive into this week’s top Fintech developments.

Kraken Unveils Krak App: Your Money, Revamped! 💸

The Big Story 📰: Kraken has officially launched the Krak app, a revolutionary all-in-one global money platform designed to integrate crypto payments with traditional finance. Announced on June 26 from Cheyenne, Wyoming, the app enables users to manage over 300 fiat and digital assets, send money across 110 countries, and earn rewards—all from one interface. With user-friendly features like "Kraktags," personalized IDs for peer-to-peer payments, Kraken aims to replace outdated banking systems. Users can earn up to 4.1% on USDG stablecoin holdings, with other digital assets offering even higher rates. This move marks Kraken's commitment to reshaping financial interactions in a digital-first world.

Key Takeaway ⚡️: The launch of the Krak app signifies a major trend toward a streamlined and modernized financial ecosystem. With Kraken's intent to eliminate traditional banking inefficiencies, this app could shift how users manage their money globally, especially for millennials and Gen Z seeking flexibility. Moreover, as Kraken plans to expand into lending and credit services, the app is poised to become a pivotal tool in financial management, highlighting the growing integration of cryptocurrencies with mainstream finance. For fintech enthusiasts and investors, Krak sets an exciting precedent for the future of personal finance.

Apple's App Store Shake-Up After €500M Fine 🔄

The Big Story 📰: Apple Inc. is taking steps to alter its App Store practices following a hefty €500 million ($580 million) fine from EU antitrust regulators. Facing pressure, the tech giant must submit a new proposal by June 26 that will allow third-party developers greater flexibility in directing customers to make purchases outside of Apple's ecosystem. This potential change signals Apple's effort to comply with strict EU regulations while still maintaining its market power. If implemented effectively, these modifications could pave the way for increased competition among app developers and potentially reshape the App Store landscape.

Key Takeaway ⚡️: Apple’s commitment to revamping its App Store practices is a significant response to growing regulatory demands and reflects the ongoing tensions between tech giants and regulatory bodies. For fintech developers and businesses, this shift means more freedom in customer engagement and purchasing strategies, fostering a potentially more vibrant app marketplace. As the EU pushes for transparency and competition, companies in the fintech realm should be on alert for new opportunities created by these changes, enabling them to better navigate their interactions within the Apple ecosystem and beyond.

Fiserv Unveils Own Stablecoin with PayPal & Circle 💸

The Big Story 📰: Fiserv Inc. is making waves in the fintech world by launching its own stablecoin, FIUSD, while teaming up with notable players in both traditional and crypto payment sectors, PayPal and Circle. This strategic move aims to provide innovative solutions for financial institutions and merchants in Fiserv's vast banking technology ecosystem. The company plans to roll out the FIUSD stablecoin by the end of this year. Their announcement was met with a positive market reaction, as shares of Fiserv increased by 2.3% to $167.06, indicating investor confidence in this new direction and potential growth.

Key Takeaway ⚡️: Fiserv's entry into the stablecoin arena highlights a significant trend of traditional finance merging with cryptocurrency initiatives. By collaborating with established players like PayPal and Circle, Fiserv is poised to offer cutting-edge products that enhance the payment experience for financial institutions and merchants alike. This development is crucial for investors and industry professionals as it signals an increasing acceptance of digital assets in mainstream finance. As stablecoins become more prominent, the implications for payment efficiency, operational costs, and regulatory considerations will shape the competitive landscape in the fintech sector, urging companies to adapt swiftly.

🔍 What Else We’re Watching

Keep an eye on these evolving Fintech Narratives.

• Bitvavo's EU License Boosts Crypto Ambitions 🚀: Bitvavo has clinched a MiCA license from the Dutch Authority for the Financial Markets (AFM), enabling it to operate across the EU with nearly 2 million users. This makes Bitvavo one of the first exchanges under the new regulatory framework set to standardize crypto operations across Europe. The license allows Bitvavo to streamline services without the hassle of navigating country-specific regulations, positioning it as a formidable player in the European crypto market. As MiCAR brings clarity to the space, Bitvavo is gearing up for significant growth.

• BBVA Unleashes Fully Digital Bank in Germany 🇩🇪: BBVA has officially launched its all-digital bank in Germany, offering a robust value proposition that includes an interest-bearing checking account with a 3% return for the first year and a cashback debit card. The service is entirely fee-free, combining the convenience of digital banking with the reliability of a universal bank. With high hopes of attracting Germany’s tech-savvy consumers, BBVA aims to replicate its success in Italy, targeting one million customers by 2026. The launch signifies BBVA's commitment to redefining banking experiences across Europe.

• BNPL Loans Affecting Credit Scores! 📈: FICO is shaking things up by incorporating Buy Now, Pay Later (BNPL) loans into credit scores starting fall 2025, reflecting a significant shift in lending practices. This could affect Americans' borrowing capabilities, like securing loans or rentals. While younger generations, especially Gen Z and Millennials, are heavy users of BNPL, responsible use can potentially boost credit scores. However, it's a double-edged sword; those who misuse these services risk harming their credit standing. As always, experts like NerdWallet urge consumers to proceed with caution and understand all terms before jumping in.

💸 Major Money Moves

Tracking big market shifts in Fintech this week.

• Finom Nets €115M as Fintech Boom Surges 🚀: Amsterdam-based Finom, a challenger bank focused on small and medium-sized businesses (SMBs), has successfully raised €115 million in its Series C round. This funding follows a recent €105 million boost from General Catalyst. With ambitions to reach 1 million customers by 2026, Finom aims to simplify finance for European SMBs through a platform that combines banking and AI-enabled accounting. Unlike typical VCs, General Catalyst provided growth funding without taking equity, allowing Finom to pursue opportunistic acquisitions and expand into core European markets. Finom is on a path to shake up the banking landscape for SMBs.

• Spinwheel Secures $30M to Transform Debt Management! 💸: Consumer debt fintech Spinwheel has raised $30 million in Series A funding to revolutionize its agentic AI platform. With this capital, Spinwheel aims to accelerate product development, enhancing core solutions like automating payment setups using just a user's phone number and birth date. As debt levels soar to a staggering $19.5 trillion, Spinwheel is prioritizing efficiency in lending processes while helping consumers better manage their financial liabilities. The company's AI technology already connects over $1.5 trillion in consumer debt, boasting a remarkable 760% revenue rise in just 18 months.

• Goldman Sachs & Citadel Fuel $135M Crypto Surge 🚀: Digital Asset, a regulated player in the crypto space, has secured $135 million in a funding round that saw participation from big names like Goldman Sachs, Citadel Securities, and Tradeweb. This investment marks a pivotal moment as traditional financial institutions embrace digital assets, which were once viewed as high-risk ventures. CEO Yuval Rooz emphasized that the funding will bolster the Canton Network, an open-source blockchain designed for compliant asset management. With trillions in tokenized assets already supported, this funding positions Digital Asset as a key player in shaping the future of institutional finance.

Thanks for reading and have a relaxing Sunday,

Derek,
Editor, Money Explored.