03 December 2021
Written By FinTech Alliance in Banking
The UK is set to see its sixth clearing bank launch: the Bank of London.
In Brief:
It’s set to launch with a pre-revenue valuation of $1.1bn.
It plans to recruit 3,000 people over the next five years.
The bank has raised $120mn so far.
What does this mean?
Following on from ClearBank, the Bank of London is only the second new clearing bank in the UK in the past 250 years.
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