TechFintech startups' path to becoming banks
In an opinion column, Semafor describes a reversal for startups that once hated banks, pointing to SoFi, Klarna, PayPal and Chime.
TLDR
Semafor says SoFi is now America's 46th-biggest bank, identifies Klarna and PayPal as banks too, and describes Chime as the latest to follow. Its opinion column frames the shift as fintech startups becoming the banks they once hated.
Fintech startups' path to becoming banks
In an opinion column, Semafor describes a reversal for startups that once hated banks, pointing to SoFi, Klarna, PayPal and Chime.
TLDR
Semafor says SoFi is now America's 46th-biggest bank, identifies Klarna and PayPal as banks too, and describes Chime as the latest to follow. Its opinion column frames the shift as fintech startups becoming the banks they once hated.
