The Weekly Wrap: all you need to know by Friday COB | March 13th

By Puja Sharma

The Weekly Wrap is published every Friday and recaps the week’s main stories and deals, as well as upcoming events and announcements for Prime subscribers only.

The Big Story

Revolut Bank UK has received regulatory approval from the Prudential Regulation Authority (PRA) to exit the mobilisation phase and launch as a bank in the UK. The launch comes with an existing base of 13 million UK customers and follows Revolut’s recent commitment to invest £3bn ($4bn) and create 1,000 high-skilled jobs in the UK.

This milestone means that Revolut Bank UK Ltd will be able to start offering accounts as a fully licensed bank for both retail and business customers. It enables Revolut to offer deposit accounts protected by the FSCS on eligible deposits and paves the way for a wider range of services in the future, including lending and other products.

Revolut will gradually begin the process of rolling out current accounts to new customers in a few days, starting with a small group and expanding over the coming weeks to ensure a smooth user experience. For existing customers, nothing changes immediately, and customers’ Revolut app and cards will continue to work as normal. Customers will be notified in the coming days about the migration to the new bank, a process that is expected to take a few months in total.

The launch of Revolut’s UK bank unlocks the next phase in the company’s growth trajectory. The company recently announced a global £10bn ($13bn) investment over five years, in addition to creating 10,000 new jobs as it expands its global footprint. The company is now in the scaling phase of its commitment to launch in 30 new markets by 2030, with key licensing announcements in the Americas this year and significant expansion progress in other key regions throughout 2025.

Deals of the week

• Nasdaq, Seturion partner to enable tokenised securities settlement
• Global Settlement Holdings acquires InvestReady and Accreditoken
• AMINA Bank partners with 21X for digital asset trading platform
• BIDC upgrades payments infrastructure with BPC SmartVista
• Finastra taps FraudAverse to boost fraud protection in payments
• RenoFi raises $22m to scale renovation-focused lending platform
• SumUp partners with Sage to support UK digital tax reporting
• Tencent Cloud powers iyzico’s payment infrastructure for Europe push
• Federal Bank unveils WealthTech platform for UHNI clients

Be on the lookout for

India has recently engaged in discussions with Ant Group, a Chinese FinTech company, to explore deeper cooperation in the digital economy. The talks focused on opportunities in financial technology, healthcare innovation, and broader digital transformation. Both sides emphasised that advanced technology can play a crucial role in driving inclusive growth and sustainable development.

The meeting came shortly after India relaxed foreign direct investment rules for Chinese firms, signalling a more open environment for cross-border collaboration. This policy shift creates new possibilities for partnerships in areas such as digital finance, where China has significant expertise, and where India is rapidly expanding its infrastructure.

The dialogue highlighted the importance of building prosperity through collaboration, not only for the two countries but also for the wider Global South. By working together on cost-effective and scalable digital solutions, India and China could help other developing nations accelerate their digital transformation and bridge economic gaps.

The discussions underscored FinTech innovation as a key driver of financial inclusion, with potential to reshape services, improve accessibility, and strengthen economic resilience. Both sides expressed a shared vision of using technology as a tool for sustainable progress, reinforcing the idea that digital cooperation could become a cornerstone of future economic ties.

In essence, the talks represent a step toward stronger bilateral relations, with digital partnerships offering mutual benefits and the potential to serve as a model for other developing economies. This engagement reflects a growing recognition that collaboration in technology and finance can be a pathway to shared prosperity.