SoFi Unlocks Private Markets for Retail Investors
Hey Digital Banking Fanatic!
First, it was Robinhood. Now, SoFi is giving everyday investors a chance to back private companies like SpaceX, OpenAI, and Epic Games.
As CEO Anthony Noto put it: "SoFi is expanding alternative investment opportunities for a new generation of investors."
SoFi already offers access to SpaceX and Anthropic shares through its Cosmos Fund, but that requires $25k and other thresholds. Soon, similar exposure could start from just $10. 🤯
A pattern seems to be emerging… scroll down for the full SoFi update 👇 I'm back again tomorrow!
Cheers,
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NEWS
🇺🇸 SoFi to give clients access to OpenAI and SpaceX through new funds. The funds will provide exposure to companies across various industries, and can be invested in through the SoFi app with a minimum contribution of $10. The company is expanding alternative investment opportunities for retail clients.
🇵🇭 Revolut officially launched a new Global Tech Hub in Manila, Philippines, aiming to enhance Revolut’s global capabilities and accelerate innovation. This new Global Capability Center will work across time zones and continents, supporting operations in the UK, Europe, Asia-Pacific, and the Americas.
🇩🇰 Lunar launches local virtual account numbers (vBBANs). It is designed to simplify operations, streamline payments, and unlock the full potential of this dynamic market. vBBANs do more than just handle local currency. They act as domestic bank account numbers, making it easier to collect and send funds.
🇬🇧 Kuda’s second attempt at multicurrency banking comes with lessons and $15M backing from investors. Kuda microfinance bank (“Kuda bank”) has relaunched multicurrency wallets and cross-border payment services for users in eligible jurisdictions.
🇺🇸 Nymbus signs agreement with Bud Financial to launch AI-powered personal financial management services. With this collaboration, Nymbus Bud Financial aims to help banks and other financial institutions use next-generation PFM services that give personalised advice and real-time information.
🇺🇸 BNY Mellon will have custody of Ripple’s new stablecoin as institutional interest in crypto swells. The partnership should enhance regulatory compliance for Ripple, the issuer of Ripple USD (RLUSD), and boost institutional credibility for the company as well as the fast-growing stablecoin industry.
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