Last week, published details about a Appeal That Fintec Giant Strip submitted for a US banking license.
This means that this stripe – already the world’s largest valuable fintech – there was a lot of talk on how it would add the bank to the list of descriptions.
Short Answer: No.
The fact is this is the first time the stripe applied for a banking license. However, what may not be clear is that the license opportunity is very narrow. This license does not mean that the fintech company will receive deposits. If it is approved what it means, the stripe will be allowed to process him on his behalf, in addition to the processing of the payment on his behalf, in addition to the partners.
A stripe spokesperson tells TechCrunch: “Over the past few years, as the business of stripe has grown, we have extended significantly that we work with banking and other partners. This app helps to ensure that our users have a more extensive option to support our users – and we complement the work we do directly with banking partners in the United States.
A source familiar with the reasons for one’s own bin gives “a bit extra elasticity” to process the “payment of money.” Currently, it Bin sponsor (Or sponsored banks) vary depending on geography.
In 2024, the Wells Fergo (former partner of Stripe) suddenly came out of the bin sponsorship business – where banks helped access payment networks like Visa and MasterCard. When banks do this, it leaves companies like stripe at the risk of service barriers.
Stripe is less dependent on its partners by being able to process its own money.
If approved, this banking license may be in the third quarter of the stripe 2025.