Fintech Rundown (16/03) - Ramp, Bank of England, Tether

Ramp has acquired Billhop, a payments platform based in Stockholm and London and licensed in both the UK and Sweden. The acquisition strengthens Ramp’s ability to serve businesses operating across the UK and Europe. As part of the expansion, Ramp will open its first international offices in London and Stockholm. Starting this summer, the company plans to begin onboarding businesses headquartered in the UK and EU directly for the first time.

Next up, the Bank of England has signaled it may revise proposed limits on sterling stablecoins after criticism from issuers and crypto industry groups. Deputy Governor Sarah Breeden said the central bank is “genuinely open to other ways” of mitigating financial stability risks linked to stablecoin adoption.The Bank of England floated the limits last November as part of a consultation on regulating sterling-denominated stablecoins that could become widely used for everyday payments. Under the proposal, individuals would face temporary holding limits of £20,000, while businesses would be capped at £10 million.

Finally, Tether is reshuffling its leadership team. Richard Heathcote, who oversaw the reserves backing Tether (USDT) and helped steer a wave of global deals, is stepping away from the CIO role and transitioning into a non-executive advisory position, according to Bloomberg News. His deputy, Zachary Lyons, will take over the CIO position and assume responsibility for day-to-day investment management.

That’s your fintech rundown. Stay tuned for more updates.