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This week, several major developments took place in the fintech sector, including the expansion of Pay.UK’s board and Nubank’s acquisition of a new banking licence in Brazil. Pay.UK, the designated operator for interbank retail payment systems in the UK, has added three new industry non-executive directors to its board. The move is part of Pay.UK’s transition to a new governance model, which aims to give greater representation to the wider fintech and retail banking sectors.
The new directors, Alison Berryman, Matthijs Boon, and Pranay Ahluwalia, will join the board effective 1 July 2026. The Pay.UK board now consists of chair Mark Hoban, CEO David Pitt, and an equal number of industry non-executive directors and independent non-executive directors.
Nubank, a Brazilian digital banking group, has agreed to acquire Banco Porto Real de Investimentos S/A, a wholesale credit institution based in Rio de Janeiro. This acquisition will give Nubank a new banking licence in Brazil, supplementing its existing regulatory authorisations.
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The financial terms of the deal have not been disclosed. However, the acquisition is seen as a significant move for Nubank, which has been expanding its operations in Brazil and other parts of Latin America.
The London Stock Exchange has announced plans to launch a new overnight trading platform called LSE 24. The platform will operate five days a week, opening at 17:00 and closing at 07:50 London time, with a 30-minute break at 18:30 for end-of-day processing.
Client testing for LSE 24 is scheduled to begin by the end of 2026, with a formal launch slated for the first half of 2027, subject to regulatory approval. They aim to provide an alternative trading platform for when the stock exchange’s main market is closed.
It is designed to support near-continuous trading from Monday to Friday, providing investors with greater flexibility to respond to market events, access liquidity across time zones and manage risk.
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Ant International has announced the close of its Series A funding round, raising approximately $1.2 billion in equity financing. The funds will be used to expand Ant International’s financial services suite for small businesses.
HSBC’s digital assets platform, HSBC Orion, has received regulatory approval from the Bank of England to go live in the UK’s Digital Securities Sandbox (DSS). The approval will enable HSBC to issue, service, and settle digitally native bonds, including corporate bonds of up to £900 million.
Overall, the developments this week demonstrate the ongoing growth and innovation in the fintech sector.
