Stripe Inc. is set to launch a stablecoin payments service for businesses outside traditional markets, while Circle also announces a similar initiative. WEX Inc. introduces vehicle charging access with WEX EV Depot. Thunes Financial Services raises $150 million, ValidiFi joins Nacha’s Phixius network, and Repay Holdings sees a CFO change.
In an exciting development, Stripe Inc. plans to roll out a stablecoin-based payment service that targets businesses beyond the US, UK, and EU markets. CEO Patrick Collison made the announcement via social media this week. This comes shortly after Circle Internet Group Inc. shared details about their own cross-border stablecoin venture.
Meanwhile, fintech firm WEX Inc. has debuted WEX EV Depot, a new service that allows access to vehicle charging at various private stations when using their WEX Fleet card. Their move reflects the growing green energy trend within the payments sector, focusing on electric vehicle infrastructure.
On the funding front, Thunes Financial Services Inc., known for cross-border payments, has secured $150 million in a Series D funding round led by Apis Partners and Vitruvian Partners. This significant capital injection will likely support Thunes in expanding its international operations.
In regulatory news, Nacha, the body overseeing the automated clearing house network, announced that identity-verification company ValidiFi Inc. has gone live on its Phixius network. This platform focuses on account validation, which is increasingly critical in today’s digital transaction landscape.
Lastly, Repay Holdings Corp. confirmed a leadership change as Thomas Sullivan steps in as interim CFO, succeeding Tim Murphy, who is moving to an undisclosed private-equity firm. Murphy, who has served as CFO since 2014, leaves a notable legacy at Repay.
These developments indicate a shift in the payments landscape, highlighting innovation alongside evolving regulatory frameworks in the finance world.
