In today’s FinTech News, private equity investor Advent International is taking a majority stake in Mangopay, while Worldpay is on track to offer merchants settlement in USDC. Plus, the United Kingdom will soon add stablecoins as an acceptable payment method.
Global private equity investor Advent International is acquiring a majority stake in Mangopay, an end-to-end payment solutions provider for marketplaces and platforms. Mangopay expects to process €13B in transaction volume and handle more than 30 million sellers on behalf of its clients.
Worldpay, owned by parent company FIS, is on track to be the first global merchant acquirer to give merchants the ability to receive settlements in USD Coin (USDC). Circle, the issuer of USDC, is collaborating with FIS to help crypto-native and traditional businesses build settlement and treasury strategies that mesh with their preferred currency for conducting business.
Stablecoins will soon be accepted as a form of payment in the U.K. and the government is also launching an international hub for crypto-asset technology and investment. Stablecoins will be soon be brought within a regulatory framework, said Rishi Sunak, chancellor of the exchequer.
Financial infrastructure platform Fidel API is using its fresh capital to double its workforce worldwide with a particular focus on adding talent in engineering, sales and product. Fidel is also planning to increase its investments in existing products and launch new products in identity verification and consent management.
Global payments firm Nium is introducing the API solution Crypto Accept to enable businesses worldwide to accept cryptocurrency payments. Bitcoin and ethereum will be accepted first, with other crypto added next year. Crypto Accept facilitates payments to online merchants’ accounts the next business day in U.S. dollars or other fiat currencies.
Online payments solutions provider PayU is buying Tecnipagos S.A., which operates as electronic deposits and payments platform Ding. The move expands PayU’s reach across Colombia and expands its footprint to over 50 countries.