Revolut, OakNorth Consider LSE’s Pisces Platform
Hey Digital Banking Fanatic!
Some of the UK’s best-known digital banks, like Revolut and OakNorth, have met privately with over 20 firms to explore joining the new Pisces private stock market, after being approached by the London Stock Exchange.
Supported by a new rulebook from the FCA, it is expected to launch later this year.
Pisces will enable private companies to trade shares without going public, offering a possible bridge between late-stage growth and public listing.
Atom Bank, Thought Machine, and iwoca were also at the table, alongside VC firms and players from the edtech space.
This move reflects a shift in how the UK supports private share trading, aiming to retain growth companies and offer shareholders more flexible liquidity options.
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NEWS
🇬🇧 Revolut, Octopus, and OakNorth join the new Pisces private stock market after being courted by prospective operator London Stock Exchange. The new platform facilitates the trading of shares in private companies, promises to address a longstanding liquidity gap for growth companies and early investors, offering a stepping stone for companies seeking a later flotation on a public exchange.
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🇪🇺 EU Central Bank commits to distributed ledger technology settlement work. The decision is in line with the Eurosystem’s commitment to supporting innovation without compromising on safety and efficiency in financial market infrastructures, the release said.
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🇬🇧 Santander to acquire TSB from Sabadell for £2.65 billion. The acquisition would strengthen Santander’s position in the UK. Santander intends to integrate TSB into the Santander UK group, enabling it to become the third-largest bank in the country by personal current account balances.
🇺🇸 Ripple seeks a U.S. banking license, adding to the list of crypto companies. Stablecoins are typically pegged to the dollar or other government-issued currencies, and store reserves in cash or safe assets such as Treasurys to keep a one-to-one exchange ratio in place.
🇺🇸 Payments firm Wise seeks a US national trust bank charter to access Fed Payments. Wise aims to increase the staffing of its US trust company by 20% within three years and plans to relocate its primary share listing from London to the US to enhance liquidity.
🇦🇪 Ajman Bank and VaultsPay partner to launch co-branded payment processing solution and instant settlement for business clients. Ajman Bank business clients will gain access to VaultsPay's infrastructure, enabling acceptance of credit, debit, and prepaid card payments across a range of retail environments.
🇦🇺 Australian banks launch nationwide Confirmation of Payee scheme. Banks have begun the roll-out of a nationwide Confirmation of Payee programme to help protect customers from being tricked into sending money to criminals. Keep reading
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