Anchor Secures Regulatory Win Across Nigeria and Canada
Hey Digital Banking Fanatic!
Anchor, a Nigerian banking and payments infrastructure platform, has announced the acquisition of key regulatory licences in Nigeria and Canada, marking a significant milestone in its expansion strategy.
As Nigeria’s FinTech industry continues to mature, infrastructure providers like Anchor, who recently crossed the $2.5 billion transaction milestone, are becoming increasingly important.
The MFB licence in Nigeria will allow Anchor to offer deposit-taking and other microfinance services directly, while the IMTO licence enhances its ability to facilitate international remittances.
The Canadian MSB registration effectively plants a flag in North America, creating smoother corridors for businesses operating between Africa and global markets, while providing a compliant bridge for cross-border B2B payments and payroll for international teams.
By investing heavily in compliance and licensing, it is clear that Anchor is playing the long game.
More from the world of digital banking below. 👇 See you tomorrow.
Cheers,
INSIGHTS
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NEWS
🌎 Anchor secures Nigerian and Canadian licenses as it crosses $2.5 billion in transactions. These approvals strengthen the company’s compliance framework and enable it to offer more robust embedded financial services across borders. Segun Adeyemi, CEO and Co-founder, highlighted the importance of these licences in building reliable infrastructure for the next wave of FinTech innovation.
🇬🇧 Revolut is making progress toward becoming the first digital bank and generating excitement in the market. The British-based neobank estimates it will complete strengthening its local team and implementing the necessary infrastructure to operate by the end of the year.
🇪🇸 Revolut aims for 15 million customers in Spain by 2029 as it evolves into a full-service banking player. Revolut is rapidly expanding in Spain, reaching 6.3 million customers and positioning itself to compete directly with major banks like BBVA and Santander.
🇸🇦 STC Bank launches a range of credit cards with competitive benefits, up to 10 percent cashback. The bank’s new credit cards include four main tiers: Platinum, Signature, Infinite, and Infinite Privilege. Each card is designed to meet the needs of different customer segments, offering a variety of benefits suited to their spending patterns.
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