The FinTech IPO Index increased by 0.4% this week, driven by strong performances from U.S.-based companies like SoFi and MoneyLion. Both companies saw double-digit stock gains, with SoFi introducing new credit cards and MoneyLion adopting Plaid's financial solution. However, Chinese stocks such as AMTD and 9F Group experienced sharp declines, with AMTD dropping 23%. Meanwhile, Robinhood also posted strong results after expanding crypto services in Europe, offsetting the overall negative trend from Asian markets.
Key Points:
- SoFi rose 10.2% after launching new credit cards.
- MoneyLion gained 11.3% with Plaid integration for loan pre-qualification.
- Chinese stocks, including AMTD, saw steep declines, dragging down the sector.
