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Latest Results from /wholesale

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BofA CEO says bank prepared to launch own stablecoin

Bank of America will look to launch its own dollar-backed stablecoin if US lawmakers make it legal to do so, says CEO Brian Moynihan.

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Ramp valuation hits $13 billion

Finance automation and corporate credit card platform Ramp has hit a $13 billion valuation after investors purchased $150 million in secondaries from employees and early backers.

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Behavox buys Mosaic Smart Data

AI insights company Behavox has acquired Mosaic Smart Data, a vendor that helps financial institutions extract actionable intelligence from their transaction data. Terms of the deal were not disclosed.

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BNY and OpenAI strike deal to develop AI platform

US-based investment bank and global custodian BNY has agreed a deal with OpenAI, the creator of generative AI platform ChatGPT, to help with the development of the bank's proprietary AI platform Eliza.

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Flanks raises €14m to automate wealth management

Barcelona-based wealth management platform Flanks has raised €14 million in an equity round led by Motive Ventures.

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Indian government signs MoU with Paytm to promote fintech

India-based payments giant Paytm is collaborating with the Indian government in an initiative designed to boost the growth of fintech startups in the country.

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GoCardless partners Pipe to offer SMEs capital financing

Bank payments fintech GoCardless has teamed up with embedded finance firm Pipe to offer small businesses direct access to capital financing.

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Treasury management fintech Embat buys Necto

Madrid-based treasury management startup Embat has acquired Necto, a US bank API connectivity specialist. Financial terms were not disclosed.

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Taurus launches private token standard for banks

Swiss blockchain startup Taurus has released what it describes as an open-source token standard for debt and equity transactions in a move designed to boost the digital assets market.

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Asia to dominate global fintech market – report

Asia could account for almost half of global fintech transactions by the end of the year as it continues to outpace other regions, according to recently published research.

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UK Government mulls abolishment of Payment Systems Regulator

The UK Government is considering scrapping the Payments Systems Regulator and folding it into the Financial Conduct Authority.

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DBS to shrink workforce by 10%

Singapore's DBS Group expects to dispense with 4000 contract and temporary emloyees over the next three years as AI takes centre stage.