More Revolut, the British “unicorn” fintech startup, on Thursday said it was launching a commission-free stock trading service in the UK and Europe. The company, one of the hottest digital challenger banks, said the service would be first rolled out to select customers on its premium “Metal” subscription, which costs £13 a month. The service will allow customers to make up to 100 instant free trades in over 300 stocks listed on the New York Stock Exchange and Nasdaq, Revolut said, noting that...

More A London-based fintech startup has raised $35m (£27.5m) in a funding round led by Chinese technology giant Tencent. The startup, TrueLayer, has created an open banking platform that allows software developers to create tools for sharing and aggregating payment and banking information. Temasek, an investment firm owned by the government of Singapore, also led the round. The funding round brings its total funding to date to $47m. Previous investors Northzone and Anthemis also participated...

Ireland is processing over 100 Brexit-related applications from financial services firms, the governor of the country’s central bank told a parliamentary committee on Thursday. Governor Philip Lane said that the list of applicants includes investment firms, trading venues, electronic money institutions, and commercial and retail insurance firms. “These are partly new legal entities and existing entities seeking to extend their current authorisation,” Lane said. These firms are among the many...

Ahead of Britain’s exit from the EU in March of next year, Barclays—the country’s second-largest bank by assets—is moving the ownership of its European subsidiaries from a UK entity to its Irish bank. That will make Barclays Ireland’s biggest bank. Though Barclays is only moving around £225 billion (€250 billion) of its £1.15 trillion in assets to Ireland, that’s enough to surpass the country’s current largest bank (paywall), Bank of Ireland, which has around £110 billion in assets. Reuters...