Today In Digital-First Banking: Blend Labs Could Raise $360 Million In IPO; Flexa, InComm Collab Lets Merchants Take Crypto

In today’s top news in digital-first banking, Blend Labs Inc. intends to go public, while InComm Payments says it is working with Flexa to provide clients with a simpler way to accept digital currency. Plus, The European Commission is looking to create a new Anti-Money Laundering Authority (AMLA).

Digital Lending Platform Blend Could Raise $360M In IPO

Blend Labs Inc., the digital lending platform, plans to go public. The firm recently announced that it had rolled out the roadshow for the initial public offering (IPO) of 20 million shares of its Class A common stock that could bring in as much as $360 million for the company. The IPO price per share is anticipated to range from $16 to $18. These shares are anticipated to trade under the “BLND” ticker symbol on the New York Stock Exchange. Blend could reportedly be valued at $4 billion following the IPO.

InComm, Flexa Partnership Lets Merchants Accept Crypto Payments

Global payments company InComm Payments says it is working with Flexa to provide customers with a simpler way to take cryptocurrency. The new link will allow merchants that are already looped into InComm to add in-store and digital acceptance of tokens like zcash and bitcoin, among others. “As digital currencies grow in popularity and rapidly gain consumer adoption, it’s crucial for retailers to keep up with a broad range of payments options,” InComm Payments President Stefan Happ said in an announcement.

EU Aims To Create Anti-Money Laundering Authority

The European Commission is reportedly seeking to form a new Anti-Money Laundering Authority (AMLA). The entity could potentially implement operations in 2024 and get the ability to oversee certain cross-border financial firms and penalize firms that contravene money-laundering rules in 2026. The AMLA will reportedly supervise the “riskiest” financial sector firms running in EU member states. Money laundering is a significant issue for the European Union, according to a published report.