Square Gets Limited Bank Charter by the FDIC for Merchant Lending (20/53)

List item

Submitted to "50+ Top Fintech News | 16-22 March 2020 (Open list) (53 submissions)"

Approved

by Christophe Langlois Mar 23, 2020, 3:38 pm

🇺🇸 A month after @VaroMoney, #Payments Unicorn @Square Also Gets Limited Bank Charter by the @FDICgov for Merchant Lendinghttps://t.co/DnUwjptmfm @forbes @efipm @SpirosMargaris @JimMarous @psb_dc #fintech #paytech

-great timing whilst the #COVID19 is impacting so many #SMBs- pic.twitter.com/Xgrx7VvRBW
— 🆑 Christophe Langlois #FMHtop30 (@Visible_Banking) March 20, 2020

In a press release Square said the Federal Deposit Insurance Corp. voted to conditionally approve Square’s application and that it received charter approval from Utah Department of Financial Institutions. Square is aiming to launch a bank in 2021 called Square Financial Services.

Source: Forbes.com via VisibleBanking.com

What do you think?

0 points

Upvote Downvote

Written by Christophe Langlois

Based in London for almost a decade, Christophe is an entertaining fintech marketing keynote speaker and a trusted advisor to the global financial services industry on the topics of digital marketing, innovation and B2B social media.

Christophe has contributed to over 140 events in 18 countries.

Currently, Christophe is advising a number of fintech startups on marketing and growth hacking and he is the Chief Marketing Officer of The Fintech Power 50, an exclusive annual programme helping fintech scale-ups to accelerate their growth globally.

Christophe's views on VisibleBanking.com are his own.