Latest news with #UKFinancialConductAuthority
Business Wire
6 days ago
- Business
- Business Wire
Clear Junction Launches On-Chain Stablecoin Transfers Service for Regulated Institutions
LONDON--(BUSINESS WIRE)-- Clear Junction, a specialist in global payments and banking infrastructure for regulated financial institutions, has launched a new on-chain stablecoin transfer service as part of its fast-growing digital assets division. The service allows clients to send, receive and convert stablecoins – starting with USDC (Circle) and USDT (Tether) – across the Ethereum, Solana, and Tron blockchain networks. The new solution provides an essential bridge between traditional banking infrastructure and the rapidly evolving world of blockchain-based finance. Share The new solution provides an essential bridge between traditional banking infrastructure and the rapidly evolving world of blockchain-based finance. It is the first product in a wider suite of digital asset services being developed by Clear Junction to meet increasing demand from fintechs, payment service providers (PSPs), and regulated financial institutions. Stablecoins are emerging as key tools in global finance, offering real-time settlement, reduced costs, and increased accessibility for cross-border payments, especially in hard-to-reach markets that still face challenges with correspondent bank networks and financial inclusion. Stablecoin use cases are also emerging in treasury operations, and crypto-fiat liquidity management. However, many institutions still lack compliant, enterprise-grade infrastructure to transact securely and efficiently on-chain. Clear Junction's new product directly addresses this gap. With the rise of digital asset adoption across both developed and emerging markets, the launch positions the company to serve a growing segment of businesses seeking secure access to blockchain-based payments – from crypto exchanges and fintechs to regulated e-money institutions (EMIs) and remittance providers. Clear Junction is one of only a handful of financial institutions dual-licensed by the UK Financial Conduct Authority as both an EMI and a virtual asset service provider (VASP). This unique regulatory status allows Clear Junction to provide one of the most secure and compliant digital asset solutions available today. Built using best-in-class technology and infrastructure support from top-tier liquidity providers, the on-chain product reflects Clear Junction's commitment to enabling seamless interaction between fiat and digital currencies, without compromising on compliance, reliability, or speed. Key features include: Support for Ethereum, Solana, and Tron networks Send, receive, and convert functionality Available via platform interface Full compliance controls and transaction visibility The service is already live and in use by several clients, enabling fast and transparent blockchain-based transfers without the operational complexity typically associated with cryptocurrency settlement. Network and selection of assets will be continuously expanding to support market needs. This stablecoin launch is the first of several initiatives under Clear Junction's digital assets strategy, with more advanced products in development across tokenised settlement, custody, and blockchain-based liquidity management. Dima Kats, CEO and Founder of Clear Junction, says: 'For years, financial institutions have faced a tough dilemma: participate in the digital asset space and risk compliance headaches, or stay out of it and risk falling behind. Clear Junction's on-chain stablecoin product solves that problem by offering a regulated, auditable, and institution-friendly path into blockchain-based payments. 'We're entering a new phase of financial services where fiat and crypto will not compete but coexist. Our new on-chain capabilities give clients the tools to operate confidently at that intersection. 'We've seen stablecoins move from speculative tools to genuine settlement infrastructure, and clients want that optionality. They want the speed and transparency of blockchain with the confidence and compliance of traditional finance. That's exactly what we're building to meet real-world demand, and this feature launch is the foundation of a much bigger roadmap.' The launch comes at a time when the convergence of fiat and digital currency systems is accelerating globally. Central banks, institutional investors, and large corporates are all exploring the role of tokenised assets and stablecoins in future payments infrastructure. Clear Junction's regulated approach ensures that institutions can engage with these innovations while meeting regulatory expectations around AML, KYC, and transaction monitoring. The company's experience in sectors such as crypto, remittances, and high-growth fintech markets gives it a unique vantage point to serve this new phase of financial evolution. About Clear Junction Clear Junction is a global payments solutions provider that was established in 2016. The company was founded by a veteran team of financial professionals with many years of experience in cross-border payments and banking. Over the years, we have worked tirelessly to build and develop our own proprietary technology to facilitate an end-to-end regulated payments solution. We are licensed and regulated by the Financial Conduct Authority and have offices in multiple locations across the UK and Europe.
Yahoo
08-07-2025
- Business
- Yahoo
Finmo receives electronic money institution licence in UK
Fintech firm Finmo has secured authorisation from the UK Financial Conduct Authority (FCA) to operate as an electronic money institution (EMI). With the licence in place, the company aims to establish UK as the core operational hub for its treasury and payments platform. With the EMI licence, Finmo is now permitted to issue electronic money, provide account issuance services, and facilitate both domestic and international fund transfers, as well as foreign exchange transactions. It also allows the company to issue IBANs and directly integrate with the nation's clearing systems, including Faster Payments and the Clearing House Automated Payment System. Finmo CEO and co-founder David Hanna said: "Securing our EMI licence in the UK signals more than just regulatory approval, it's a commitment to serving clients in one of the world's most advanced financial ecosystems. 'From fintechs to mid-sized global companies we're here to empower modern finance and payment teams with greater control, visibility, and confidence in their global treasury operations." The expansion into the UK market aligns with Finmo's "hub-and-spoke" strategy, which seeks to offer services from key regulatory jurisdictions. Additionally, the licence is expected to aid Finmo in scaling its embedded finance solutions and enhancing collaborations with capital market providers for liquidity and FX risk management. Finmo has announced the immediate launch of GBP-denominated accounts and access to Faster Payments for qualifying clients. The company is also increasing its UK-based compliance and operations team to support its services to mid-market enterprises based in the UK, international businesses with cross-border operations, and companies seeking regulated treasury infrastructure. The company recently introduced MO AI, a conversational assistant integrated within its treasury platform, to assist CFOs, controllers, and finance teams in managing workflows. This tool is designed to provide real-time information on balances, payments analysis, transaction initiation, and report generation through command-based interactions. This approval follows Finmo's Series A funding round in February, where the company raised $18.5m, taking its total funding to $27m. "Finmo receives electronic money institution licence in UK " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Korea Herald
08-07-2025
- Business
- Korea Herald
Treasury and Payments Platform Finmo Secures UK EMI Licence, Expands Global Footprint
LONDON and SINGAPORE, July 8, 2025 /PRNewswire/ -- Fast-growing fintech company Finmo has received approval from the UK Financial Conduct Authority (FCA) to operate as an Authorised Electronic Money Institution (EMI). This strategic milestone marks a major step in Finmo's global expansion as it establishes the United Kingdom as a core operational hub for its next-generation, integrated treasury and payments platform. With the EMI licence, Finmo is now authorised to issue electronic money and offer a range of payment services in the UK, including account issuance, domestic and cross-border fund transfers, and foreign exchange transactions. The licence also enables Finmo to issue IBANs, hold safeguarded client funds locally, and integrate directly with UK clearing systems such as Faster Payments and Clearing House Automated Payment System. David Hanna, CEO and Co-founder of Finmo said, "Securing our EMI licence in the UK signals more than just regulatory approval, it's a commitment to serving clients in one of the world's most advanced financial ecosystems. From fintechs to mid-sized global companies we're here to empower modern finance and payment teams with greater control, visibility, and confidence in their global treasury operations." Finmo was founded in 2021 by David Hanna, Akhil Nigam, Richard Oh, Raj Vimal Chopra, and Thomas Kang - financial technology veterans with decades of collective experience across corporate treasury, global banking, payments, and compliance. Finmo's entry into the UK market is part of its hub-and-spoke expansion strategy, designed to serve clients across multiple regions from key regulatory jurisdictions. The licence also supports Finmo's plans to scale embedded finance solutions and deepen partnerships with capital market providers for liquidity and FX risk management. Immediate rollouts under the EMI licence include the launch of GBP-denominated accounts, and Faster Payments access for eligible clients. Finmo is also expanding its UK-based compliance and operations team to support these efforts. This move enhances Finmo's ability to serve UK-headquartered mid-market enterprises, international businesses with cross-border operations, and companies with complex financial requirements looking for regulated, high-performance treasury infrastructure. The company recently launched MO AI, a conversational assistant embedded directly within its intelligent treasury platform. Built for CFOs, controllers, and finance teams, MO AI transforms fragmented, multi-entity workflows into a unified, real-time experience, enabling users to retrieve balances, analyse payments, initiate transactions, and generate reports using command-based prompts. About Finmo Finmo is a global financial technology company transforming the way modern finance teams manage treasury and payments. The company was founded in 2021 by David Hanna, Akhil Nigam, Richard Oh, Raj Vimal Chopra, and Thomas Kang - financial technology veterans with decades of collective experience across corporate treasury, global banking, payments, and compliance. Its intelligent platform integrates payments, FX risk mitigation, liquidity and cash management, and financial system connectivity into a single, secure solution - providing real-time visibility, control, and operational efficiency across global financial workflows. Trusted by fintechs and mid-sized global companies, Finmo holds regulatory approvals in key jurisdictions including Singapore, Australia, New Zealand, Canada, the United States, and the United Kingdom. The company is committed to building a faster, smarter, and more resilient financial infrastructure for the digital economy.
Perth Now
12-06-2025
- Business
- Perth Now
‘Finfluencers' on notice as ASIC warns of high-risk advice
Australia's corporate watchdog has issued warning notices to 18 social media influencers suspected of promoting high-risk financial products without a licence, amid growing concern that flashy online lifestyles are luring young Australians into dangerous investment territory. The Australian Securities and Investments Commission confirmed it had written to a cohort of so-called 'finfluencers' — content creators who post financial tips online — advising them they may be in breach of the Corporations Act by giving unlicensed financial advice and promoting complex products such as derivatives. ASIC Commissioner Alan Kirkland said the warnings were part of a coordinated global enforcement effort and aimed to protect consumers from being misled by popularity masquerading as credibility. 'This action is about making sure people are asking the right questions and are aware of the risks they may be taking if they follow the advice of a finfluencer,' he said. 'Don't let your hard-earned money fund the lifestyles of people whose expertise is making slick social media content, not complex financial advice.' The notices demand that recipients explain what steps they have taken — or plan to take — to comply with the law, including whether they are licensed or authorised to provide financial product advice. ASIC warned it may escalate the matter if it believed further action was warranted. The regulator is particularly concerned that some influencers are using private communication channels such as direct messages to promote investments they are themselves associated with — a practice that may still fall afoul of financial services laws, even if done outside the public eye. 'We are seeing a troubling pattern where these unlicensed finfluencers invite consumers to join their closed communities or forums to learn their so-called secrets to success or to copy their trades,' Mr Kirkland said. 'Finfluencers are on notice that even when advice is provided through private channels, the law still applies.' The warning comes as research from ASIC's Moneysmart program shows that 41 per cent of young Australians now turn to online sources, including finfluencers, for financial advice. It follows a Global Week of Action Against Unlawful Finfluencers, which saw regulators in nine jurisdictions — including the UK, UAE, Hong Kong and Canada — launch enforcement actions, issue warnings, and coordinate educational campaigns to counter the rise in unlicensed social media financial advice. The UK Financial Conduct Authority, which spearheaded the campaign, used its powers to take down websites, run consumer awareness programs and partner with licensed influencers to promote responsible online financial engagement. In 2022, the regulator issued a similar warning and noted that giving unlicensed financial advice could attract penalties of up to five years' imprisonment or fines of $1 million for corzporations. ASIC has already acted against unlawful finfluencing. In November 2022, the Federal Court found that social media personality Tyson Robert Scholz, known online as '@ASXWOLF_TS,' and who flaunted a lifestyle of luxury cars and private jets had contravened the Corporations Act by carrying on a financial services business without a licence. Scholz offered share trading seminars, subscription packages, and individual trading tips through Instagram and a private Discord chatroom called the 'Black Wolf Pit,' charging followers up to $1,500 for access. In its action, ASIC alleged Sholz bilked followers of more than $1.15 million between March 2020 and August 2021. In February last year, Scholz was declared bankrupt for failing to pay $500,000 in court costs. ASIC said investors and consumers can check the credentials of finfluencers out by using ASIC's professional registers search tool, and has warned consumers to be vigilant about who they turn to for financial advice. 'It's important that consumers separate fun from fact when it comes to finfluencer content. Popularity doesn't equal credibility. Check their credentials and whether they're licensed or authorised, before checking your money out,' Mr Kirkland said.
West Australian
12-06-2025
- Business
- West Australian
ASIC warns ‘finfluencers' as global regulators crack down on risky online advice
Australia's corporate watchdog has issued warning notices to 18 social media influencers suspected of promoting high-risk financial products without a licence, amid growing concern that flashy online lifestyles are luring young Australians into dangerous investment territory. The Australian Securities and Investments Commission confirmed it had written to a cohort of so-called 'finfluencers' — content creators who post financial tips online — advising them they may be in breach of the Corporations Act by giving unlicensed financial advice and promoting complex products such as derivatives. ASIC Commissioner Alan Kirkland said the warnings were part of a coordinated global enforcement effort and aimed to protect consumers from being misled by popularity masquerading as credibility. 'This action is about making sure people are asking the right questions and are aware of the risks they may be taking if they follow the advice of a finfluencer,' he said. 'Don't let your hard-earned money fund the lifestyles of people whose expertise is making slick social media content, not complex financial advice.' The notices demand that recipients explain what steps they have taken — or plan to take — to comply with the law, including whether they are licensed or authorised to provide financial product advice. ASIC warned it may escalate the matter if it believed further action was warranted. The regulator is particularly concerned that some influencers are using private communication channels such as direct messages to promote investments they are themselves associated with — a practice that may still fall afoul of financial services laws, even if done outside the public eye. 'We are seeing a troubling pattern where these unlicensed finfluencers invite consumers to join their closed communities or forums to learn their so-called secrets to success or to copy their trades,' Mr Kirkland said. 'Finfluencers are on notice that even when advice is provided through private channels, the law still applies.' The warning comes as research from ASIC's Moneysmart program shows that 41 per cent of young Australians now turn to online sources, including finfluencers, for financial advice. It follows a Global Week of Action Against Unlawful Finfluencers, which saw regulators in nine jurisdictions — including the UK, UAE, Hong Kong and Canada — launch enforcement actions, issue warnings, and coordinate educational campaigns to counter the rise in unlicensed social media financial advice. The UK Financial Conduct Authority, which spearheaded the campaign, used its powers to take down websites, run consumer awareness programs and partner with licensed influencers to promote responsible online financial engagement. In 2022, the regulator issued a similar warning and noted that giving unlicensed financial advice could attract penalties of up to five years' imprisonment or fines of $1 million for corporations. ASIC has already acted against unlawful finfluencing. In November 2022, the Federal Court found that social media personality Tyson Robert Scholz, known online as '@ASXWOLF_TS,' and who flaunted a lifestyle of luxury cars and private jets had contravened the Corporations Act by carrying on a financial services business without a licence. Scholz offered share trading seminars, subscription packages, and individual trading tips through Instagram and a private Discord chatroom called the 'Black Wolf Pit,' charging followers up to $1,500 for access. In its action, ASIC alleged Sholz bilked followers of more than $1.15 million between March 2020 and August 2021. In February last year, Scholz was declared bankrupt for failing to pay $500,000 in court costs. ASIC said investors and consumers can check the credentials of finfluencers out by using ASIC's professional registers search tool, and has warned consumers to be vigilant about who they turn to for financial advice. 'It's important that consumers separate fun from fact when it comes to finfluencer content. Popularity doesn't equal credibility. Check their credentials and whether they're licensed or authorised, before checking your money out,' Mr Kirkland said.
