Keytom, a newly launched digital asset-focused neobank, has entered the UAE market with the goal of simplifying the management of customers’ digital assets in a single, accessible location.

Established in 2022, this fresh addition to the UAE’s financial landscape is committed to breaking down financial barriers and creating a unified framework that merges traditional fiat and cryptocurrency domains, making it accessible to all.

Currently, Keytom enables customers to engage in crypto and USDT transactions and provides saving and investment products, with plans underway to introduce swaps and fiat options in the near future.

Headquartered in Dubai, the startup offers customers a unified interface accessible via both mobile applications and web browsers, allowing them to easily monitor their funds.

Eugene Krasicki, the founder and CEO of Keytom, emphasizes the company’s substantial efforts in integrating cryptocurrencies into its services, driven by the ongoing prominence of crypto in financial markets. Krasicki believes that this inclusive approach and acknowledgment of market potential set Keytom apart in the neobanking sector.

Keytom’s future plans include the rollout of cashback services, collateral loans, and staking, scheduled for implementation in late 2024 and early 2025.

Furthermore, the company is gearing up for global expansion, having obtained licenses in various jurisdictions worldwide. These include a VASP (Virtual Asset Service Provider) license in the Czech Republic for operations in Europe, and an MSB/FINTRAC (Money Service Business) license in Canada.

Keytom’s launch coincides with a surge of fintech activity in the UAE, with other players such as Ruya Bank recently announcing their intentions to enter the market.

Source: fintechfutures.com

Mercury, a neobank based in the United States catering to over 100,000 startups, has introduced its latest offering, Mercury Personal. This consumer-oriented banking solution is tailored specifically for entrepreneurs and investors.

Established in 2017, Mercury highlights that users of its new product will enjoy benefits such as customizable debit card limits, global ATM fee reimbursements, fee-free domestic wires and ACH transfers, all without requiring minimum balances.

Moreover, at its launch, Mercury Personal offers potential customers up to $5 million in Federal Deposit Insurance Corporation (FDIC) insurance coverage. Additionally, subscribers can access a high-yield savings account with a 5% annual percentage yield (APY) for an annual subscription fee of $240.

Alexey Likuev, Mercury’s head of personal banking, remarks on what he sees as a “paradox in today’s banking landscape,” noting that while most neobanks focus on offering “basic offerings” aimed at lower-income individuals and the underbanked, traditional banks provide private banking and wealth management services, which typically involve frequent interactions with a banker.

Likuev asserts that Mercury Personal aims to address this perceived gap in the market by providing enterprise founders with a robust self-service banking option tailored to their personal needs.

The fintech announces that, for the time being, interested individuals can sign up for a waiting list for the solution, with the company expecting a full launch for US customers later this year.

Source: fintechfutures.com

ICEYE, a trailblazer in satellite-powered disaster management solutions, has recently concluded a substantial funding round, securing $93 million in growth capital.

Solidium Oy led the investment, supported by Move Capital Fund I, Blackwells Capital, Christo Georgiev, and existing investors, bringing ICEYE’s total raised capital to an impressive $438 million, according to insights from InsurTech.

The fresh funding will propel ICEYE’s ambitious plans to expand its constellation of SAR (Synthetic Aperture Radar) satellites, already the world’s largest. Additionally, the company aims to enrich its suite of data and subscription products, offering clients access to innovative solutions for disaster preparedness and response.

The oversubscription of the round underscores strong investor confidence in ICEYE’s vision and capabilities.

Rafal Modrzewski, CEO and co-founder of ICEYE, shared his optimism about the company’s future, stating, “This backing from the domestic and international investment community shows trust in ICEYE’s vision to improve life on Earth by becoming the global source of truth in Earth Observation.” He expressed pride in aligning with the newest investors in the pursuit of ICEYE leading the global market in SAR technology and its diverse applications.

With the infusion of new capital, ICEYE is well-positioned to fortify its leadership position in satellite-powered disaster management solutions. The company remains committed to innovation and expansion, driving growth and making significant contributions to global disaster response efforts.

Reima Rytsölä, CEO of Solidium, emphasized the strategic fit of ICEYE with their updated investment strategy. He highlighted ICEYE’s status as a globally recognized leader in a rapidly growing, high-tech industry, with the potential to evolve into a nationally significant listed company. Rytsölä praised ICEYE’s unparalleled expertise in the space technology sector and beyond.

Specializing in synthetic-aperture radar (SAR) satellites, ICEYE’s advanced technology enables high-resolution imaging of the Earth’s surface regardless of weather conditions or time of day. With applications in disaster response, environmental monitoring, and infrastructure management, ICEYE continues to push the boundaries of innovation in Earth Observation.

Source: fintech.global