Your Daily FinTech Podcast - May 30th, 2022

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Welcome to another episode of our Daily Fintech Podcast.

THE NEWS HIGHLIGHT OF THE DAY IS

Not all fintech unicorns are cutting jobs. After Klarna announced plans to lay off 10% of its workforce Monday, some rival fintechs are making it clear that they have no intention of cutting jobs or freezing hiring. Revolut, the $33 billion digital banking start-up, said the company is "actively hiring," with over 250 open roles listed on its website.

JUST IN:

Latin American VTEX and Bitso laid off hundreds of employees on Thursday. Brazil's Vtex alone has cut nearly 200 employees, according to a person familiar with the company. That number is equivalent to 13% of the team, the person said. In Mexico, crypto exchange Bitso terminated at least 80 people in technical and commercial areas.

ALSO:

Former Tory minister Theodore Agnew has launched a public attack on Starling Bank, dragging the online lender into the Covid loans scandal by claiming it did not run adequate checks on borrowers before handing out taxpayer-backed loans.

WHAT ABOUT CRYPTO?

A group of former executives from Binance has created a $100 million venture fund.

AS FOR PARTNERSHIPS

Mastercard announced a strategic partnership Saudi Arabia-based HyperPay to drive the adoption of digital payment solutions across the Middle East and North African region.

Alpher. Partnered with digital investments service provider WealthKernel.

Scalapay has formed a partnership with circular economy fintech Twig to enable customers to resell products they have purchased via the buy now, pay later provider, and get paid upfront by Twig.