This week's list of top stories in fintech:

Nubank officially files for IPO on NYSE

• Filed F-1 on Monday
• Targets $50b valuation
• 48.1 million customers, 35.3m monthly active
• Revenue in Q3: $481m
• Cost of customer acquisition: $5

Biden administration calls on Congress to take the lead regulating stablecoins

• President’s Working Group on Financial Markets called for stablecoin regulation
• Stablecoin issuers should be insured depository institutions.
• Need AML enforcement for wallet issuers
• Want Congress to pass legislation

Financial System Makes Big Promises on Climate Change at COP26 Summit

• Mark Carney leading a UN group for financial services companies.
• Companies with $130 trillion in assets have signed on.
• Banks will now incorporate carbon emissions into lending decisions.

Q3 global fintech funding smashes records

• Fintech raised $31b across 1,185 deals.
• There were 94 deals of $100m+
• On track to cross $120b for the year
• 43 new unicorns, now 206 globally

Klarna launches new super app, reduces reliance on partnerships

• Klarna launched a super app
• Do all shopping, unlock deals, manage payments, loyalty, track deliveries
• Can use Klarna at any online store for BNPL through virtual one-time cards
• Available in iOS and Android now

Korean online payment service Kakao Pay surges nearly 114% on the first day of trading

• Kakao Pay raised $1.3b at a $9b valuation
• Largest payments app in South Korea
• Founded in 2014, it claims 36.5m users with 20m monthly active
• It is incorporated into KakaoTalk messaging app

​​DeFi — the ‘Wild West’ of crypto — is next on regulators’ hit list

• AML watchdog released guidance that included rules for DeFi.
• Startup founders may need to provide information on originators.
• Risk of financial crime is the primary focus
• Could curb false marketing

CBA partners with Gemini and Chainalysis to roll out crypto services

• CBA has AUD$1 trillion in assets
• First large bank to offer crypto trading in their app
• Will offer 10 crypto assets
• Gemini will provide custodian services
• Chainalysis will monitor and mitigate fraud