Short Takes: $60B Waddell Reed sold for 0.50% of AUM; TikTok influencer neobank Step raises $50MM; Monzo gets £60MM and Moov $27MM; SEC office for Digital Assets and Stablecoin Bill

Hi Fintech Architects --

Welcome back to the subscribers-only letter! You are the best.

Here are the top updates hitting our radar:

  1. Monzo, the UK challenger bank, picks up additional £60M in funding (link here) and Revolut, Europe’s $5.5 billion digital bank, quietly broke even in November (link here)

  2. Teen banking service Step raises $50M, adds TikTok star Charli D’Amelio to investor list (link here)

  3. Singapore to have 4 digital banks, with Grab-Singtel and Sea getting digital full bank licences (link here)

  4. Digital startup bank Digit takes on robo-investing (link here)

  5. Stripe will offer bank accounts, with help from Goldman Sachs and Citi(link here)

  6. Visa Partners With Ethereum Digital-Dollar Startup That Raised $271 Million (link here)

  7. SEC Announces New Standalone Office Dedicated To Digital Assets And Blockchain (link here) and US Representative Rashida Tlaib, a progressive first-term lawmaker, has cosponsored a bill requiring stablecoins like Facebook's Libra to be issued by banks. (link here)

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