Today In Payments Around The World: Mynt Looks For Additional Funding; WeTrade Transfer From OTC Could Bring In $121 Million
In today’s top payments news around the world, Mynt is reportedly seeking more funding following a $175 million round, while WeTrade Group is seeking to raise roughly $121 million in its transfer from the OTC board to Nasdaq. Plus, TransferWise is anticipated to file its initial public offering (IPO) with joint coordinators Goldman Sachs and Morgan Stanley.
Globe Telecom’s financial technology division, Globe Fintech Innovations of the Philippines, notched $175 million in additional venture funding in January. Globe Fintech, which is called Mynt, is said to be now looking for more funding — and aiming to get a valuation in excess of $1 billion. Mynt, for its part, runs the GCash digital wallet.
The Chinese online commerce services upstart WeTrade Group is aiming to raise approximately $121 million in its transfer from the OTC board to Nasdaq per an S-1 filed with U.S. Securities and Exchange Commission (SEC). WeTrade, which is listed on the OTC under the WETG symbol, has a $1.7 billion market cap.
TransferWise, a U.K. payments group, will file its expected IPO with joint coordinators Morgan Stanley and Goldman Sachs, two of the largest American banks. The company, which is headquartered in London, is anticipated to blow past 2020’s valuation of $5 billion by the time it files in the U.K. It was started by Kristo Kaarmann and Taavet Hinrikus.
The European Central Bank (ECB) conducted 2021’s inaugural monetary policy meeting and said in a statement that it will stay the course when it comes to processes instituted amid the pandemic to combat its “negative” shock. The ECB’s governing council said eurozone interest rates will remain at record lows, as will other policies put into place amid the pandemic.