The US SEC approves spot Bitcoin ETFs , Revolut actions ‘ super app ’ plans and the
EU gets tough on non-EU crypto firms
REVOLUT SCALES AI PROTECTION AMID ‘ SUPER APP ’ PLANS
Revolut has launched its latest AI fraud prevention tool after announcing its intention to offer mobile phone plans in its native UK .
The move forms part of its plan to create a financial ‘ super app ’. The creation of a super app could certainly take Revolut into new echelons in the financial services sphere , as it continues to challenge incumbent banks with improved , consumer-focused services .
UBS RESTARTS SHARE BUYBACKS , BEGINS ABSORBING CREDIT SUISSE
One of the world ’ s leading banks , UBS , announced the resumption of share buybacks and greater cost-saving measures as it began the absorption of fallen rival Credit Suisse .
UBS stepped in to acquire Credit Suisse for US $ 3.3bn following its collapse in 2023 . Now , as UBS begins to absorb Credit Suisse , it has resumed share buybacks in a bid to reduce expenditure .
NON-EU CRYPTO FIRMS FACE TIGHT LIMITS ON BLOC OPERATIONS
The European Securities and Markets Authority ( ESMA ) has called for firmer operating limits on non-EU crypto firms providing services inside the bloc .
The proposal brought forward by the ESMA is intended to ensure crypto firms based outside the EU are compliant with the Markets in Crypto-Assets Regulation ( MiCA ) passed last year . fintechmagazine . com 11