World & BusinessFintech startups’ turn toward becoming banks
Semafor argues that fintech startups that once hated banks are now becoming them, pointing to SoFi, Klarna and PayPal.
TLDR
In an opinion piece, Semafor argues that fintech startups are becoming the banks they once hated. It says SoFi is now America’s 46th-biggest bank, that Klarna and PayPal are also banks, and that Chime is the latest to follow suit.
Fintech startups’ turn toward becoming banks
Semafor argues that fintech startups that once hated banks are now becoming them, pointing to SoFi, Klarna and PayPal.
TLDR
In an opinion piece, Semafor argues that fintech startups are becoming the banks they once hated. It says SoFi is now America’s 46th-biggest bank, that Klarna and PayPal are also banks, and that Chime is the latest to follow suit.
