Search Results for "Step"
17 results for "Step"
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MrBeast Acquires Youth Fintech Step in Influencer-Banking Deal
YouTube creator MrBeast acquired Step, a youth-focused fintech offering banking products to teens and families. The deal highlights a growing trend of attention-driven distribution strategies intersecting with regulated banking. It signals a new model where influencer reach is leveraged to acquire and scale financial services platforms.
DBS Bank and JP Morgan Partner on Cross-Blockchain Payment Bridge
DBS Bank and JP Morgan's Kinexys division partnered to develop a cross-blockchain payment bridge enabling tokenized deposit transfers for institutional clients. The solution bypasses traditional payment rails, leveraging blockchain interoperability. This marks a significant step in institutional adoption of tokenized payments infrastructure.
OCC Appoints Stephen Lybarger to Oversee Fintech and Stablecoin Chartering
The OCC appointed Stephen Lybarger as Senior Deputy Comptroller for Chartering on September 9, 2025. He will oversee national bank and stablecoin issuer charter applications. The appointment signals the OCC's continued focus on accommodating fintech and crypto-native firms seeking federal bank charters.
OakNorth Receives Fed and NYDFS Approval for US Representative Office
UK-based fintech lender OakNorth received approval from the Federal Reserve and New York State Department of Financial Services to open a US Representative Office. This allows OakNorth to market its products in the US as a stepping stone toward pursuing a full US banking charter.
Synctera Launches BaaS Industry's First Line of Credit Product
Synctera launched the BaaS industry's first Line of Credit product on September 20, 2022, enabling fintechs to offer credit products through its embedded finance platform. The product expands Synctera's toolkit beyond deposit accounts and cards into lending. This marks a significant step in broadening the range of financial products available through BaaS platforms.
Japanese Banks Plan API Gateway for Zengin Payment System by 2027
The Japanese Bankers Association announced plans for an API Gateway to standardize connections to the Zengin interbank payment system, targeting completion by 2027. The initiative aims to ease fintech participation by providing uniform API access to Japan's core payment rails. This represents a significant step toward open banking infrastructure in Japan.
BaaS Startup Unit Raises $100M Series C at $1.2B Valuation
Unit, an Israeli BaaS fintech, closed a $100 million Series C led by Insight Partners, reaching a $1.2 billion valuation and becoming the first BaaS provider to achieve unicorn status. The round included participation from Accel, Better Tomorrow Ventures, Flourish Ventures, Stepstone, and Moving Capital. Funds will accelerate product development including new SDKs, banking front-ends, AWS integrations, and business credit cards.
Teen Banking Startup Step Raises $100M Backed by Celebrity Investors
Step, a teen-focused banking startup, raised $100M in funding backed by celebrity investors including Will Smith and Justin Timberlake. The platform provides banking accounts, debit cards, and financial literacy tools for teenagers, built on BaaS infrastructure through a sponsor bank partnership.
NymCard Launches Fully Public Open APIs for MENA Card Issuing BaaS
UAE-based BaaS provider NymCard launched its fully public Open API platform for payment card processing and issuing. The launch enables fintechs and businesses across the MENA region to integrate card programs via self-service APIs. This marks a significant step toward opening up card-issuing infrastructure in a region with growing fintech demand.
Stripe Launches Treasury Embedded Banking-as-a-Service for Platforms
Stripe launched Stripe Treasury, an embedded business banking API enabling platforms to offer BaaS services to their users. The product partners with Evolve Bank & Trust, Goldman Sachs, Citibank, and Barclays. This marks a significant step in integrating financial services directly into non-bank platforms without Stripe becoming a bank itself.
Step Launches No-Fee Teen Banking App Powered by Evolve Bank & Trust
Step officially launched its no-fee banking app for teens and families on October 2, 2020. The app provides FDIC-insured bank accounts and Visa cards through partner Evolve Bank & Trust. The launch followed a pilot with over 100,000 users, positioning Step as a major entrant in the teen banking segment.
Volante Technologies Raises $35M Growth Equity from Visa, Citi Ventures, BNY Mellon
Volante Technologies, a cloud-based payments and financial messaging solutions provider, raised $35 million in growth equity led by Wavecrest Growth Partners. Strategic investors included BNY Mellon, Citi Ventures, PostePay, and Visa Inc. The company's VolPay platform uses cloud-native microservices to power payment rails for major financial institutions.
Deutsche Bank Signs Strategic Partnership with Google Cloud
Deutsche Bank entered a multi-year strategic partnership with Google Cloud to modernize its technology infrastructure. The agreement covers cloud migration, co-innovation on new products, and digital transformation of banking systems. The deal followed five months of negotiations and represents a major step in Deutsche Bank's digitization strategy.
Goldman Sachs Provides Lines of Credit to Amazon Merchants via Automated Platform
Goldman Sachs partnered with Amazon to offer lines of credit up to $1 million to Amazon merchants through an automated lending platform. The deal represents a significant embedded finance arrangement where Goldman provides banking services directly within Amazon's marketplace ecosystem. This marks a major step in bank-powered embedded lending for e-commerce.
Step Raises $22.5M Led by Stripe to Build No-Fee Banking for Teens
Step, a mobile banking service targeting teenagers, raised $22.5 million in funding led by Stripe. The round supports Step's mission to provide no-fee banking services for a younger demographic. Stripe's lead investment highlights the payments giant's interest in embedded finance and BaaS distribution channels.
Tink Partners with NatWest to Power Open Banking in Mobile App
Open banking platform Tink partnered with NatWest to integrate account aggregation, payment initiation, and personal finance management into NatWest's mobile app. The partnership enables NatWest customers to view accounts and transactions across multiple providers. This is a significant step in embedded finance, leveraging PSD2-enabled open banking for personalized financial insights.
OCC Outlines Evaluation Framework for Fintech Bank Charter Applications
The Office of the Comptroller of the Currency outlined how it would evaluate fintech companies applying for a special purpose national bank charter. This signaled the agency's openness to considering fintech charter applications and established criteria for future applicants. The move was a key step in the U.S. regulatory framework for fintech banking.