The fintech startup Kanmu is to be acquired by MUFG, a major Japanese bank, for 25 billion yen.

Kanmu is the provider of "VANDLE CARD," a service that allows anyone to issue prepaid payment cards online. These take the form of virtual cards — which can only be used for online payments — and physical cards which can be used in actual stores.

In June 2022, the company also released "Pool," a credit card service that can be used for personal investments and other purposes.

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Through this acquisition, MUFG aims to attract a new customer base and update its banking functions through the company's financial infrastructure.

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Source

https://kanmu.co.jp/news/20221227-mufg-alliance/

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