💨 Abstract

Fintech company Stripe has applied for a U.S. banking license to process its own payments and gain more flexibility in managing service disruptions from partners. The license does not allow Stripe to accept deposits. If approved, the license would allow Stripe to complement its partnerships with banks across the U.S. and potentially reduce its dependence on partners.

Courtesy: techcrunch.com

Summarized by Einstein Beta 🤖