Fintech firm Revolut plans to offer stablecoins through its upcoming US bank, aiming to attract retail and business customers with international banking needs. The bank, expected to launch next year, will also provide FDIC-insured accounts and other financial services.
Crypto exchange Kraken is seeking a U.S. federal banking charter to complement its Wyoming SPDI subsidiary.
Morgan Stanley maintained overweight on Bajaj Finance (target Rs 1,120) with Q4FY26 adjusted PBT up 26% YoY; Jefferies set buy on Navin Fluorine (target Rs 8,385) citing 19% EBITDA and 30% PAT growth; HSBC upgraded IIFL Finance (target Rs 550) with 18% RoE; JP Morgan neutral on Federal Bank (target Rs 305) with 11% profit growth; Nomura buy on Waaree Engineering (target Rs 3,750) despite margin pressures.
Federal Bank announced acquisition of approximately 4.5 lakh credit cards from Standard Chartered Bank India for a portfolio valued at Rs 1,500 crore. The deal, valued at 1.5-1.6 times implied equity, will close by end of 2026 and increase Federal Bank's non-co-branded credit card receivables by about 90%. Around 75% of acquired cards are concentrated in India's top eight cities, more than doubling Federal Bank's presence in Tier-1 markets.
