Monoup news digest: main updates from fintech industry
As usual, we keep up with all events in payment industry and sharing with you a digest of the most important ones. Ukrainian crypto exchange Kuna, after 11 years of operations, suddenly closes business. The news shocked both users and partners, and we will figure out what happened.
Today's review also includes the main news of the week that you might have missed. We have gathered key information and make it short and understandable format. Even if you are not a payment expert, you will still understand us, as our media is created primarily for businesses. Enjoy reading!
Kuna stops operations
Recently, all clients and partners of Ukrainian crypto exchange Kuna received a letter notifying them of the termination of exchange operations. As of April 14, 2025, all functions of the exchange will be disabled, and application will cease to function.
Over the years of successful operation, company has achieved a lot and gained a large number of clients and B2B partners. The news of business closure came as a surprise to most, and the reasons for this event are even more unclear. Owner Mikhail Chobanyan explained in his Telegram channel that Kuna exchange has fulfilled its purpose, and it is time to move on.
He plans to move into other industries, particularly to artificial intelligence. Observing the situation, one might think that reason for the shutdown lies in tightening of EU regulations and implementation of MiCA, as well as general trend towards strict scrutiny of exchanges and crypto companies.
Although it has not been officially confirmed that this is the reason, it is quite possible that management decided not to invest in complying with new rules and engage in a simpler business. Since cryptocurrency often faces challenges from governments of various countries, keeping up with these changes can be difficult.
Kaspi plans to buy a Turkish bank
The Kazakhstani fintech company continues to delight investors and clients with its constant drive for growth. This time, it has decided to build bridges with Turkey and, after successfully acquiring a majority stake in the local marketplace Hepsiburada, has set its sights on a bank. The company is interested in the Turkish branch of Dutch bank Rabobank Group, whose assets amount to $52 million.
Seems like Kaspi intends to acquire a small bank and use it to integrate into the local economy. It may also be used to support its own operations in the country. This indicates a serious approach to its presence in Turkey and possibility of strengthening international relations between Kazakhstan and Turkey.
In addition, Kaspi is showing activity in the CIS regions and is building ties with Uzbekistan and Georgia.
Tap to Pay expands in Europe
Apple has announced the expansion of supported countries where the Tap to Pay feature will be available. It can now be used in Finland, Switzerland, Liechtenstein, Poland, Bulgaria, Portugal, Slovakia, Slovenia, and Hungary.
This technology allows you to turn an iPhone into a full-fledged POS terminal for accepting contactless payments. Previously, renting and maintaining POS terminals for small businesses required additional effort and costs, but now you can literally sell small services just by having a phone with you.
Thanks to the new functionality, you can avoid complex settings and use iPhone as a portable cashier. Currently, the service is offered by following payment systems: Global Payments, Revolut, myPOS, Adyen, Viva, SumUp, and Mollie.
Trustly partners with National Bank of Sweden
According to the company's official statement, Trustly has become the first and only external provider of services for instant payments that National Bank of Sweden will offer to all banks in the country. Thus, all clients of Swedish banks will become users of Trustly.
This service will handle payments and instant refunds in Sweden, supporting the RIX-INST system. Payment system will offer its functionality for interbank payments and will be able to meet the needs of all businesses.
Such collaborations once again illustrate how much the economy has changed and how fintech has integrated into traditional banking. Just a few years ago, it was hard to imagine that a payment system could serve banks (not vice versa), but now it happens more and more often.
These are updates Monoup this week. We remind you that you can follow us on Telegram, where we publish all the main events daily in the form of short messages.
