Aussie start-up’s value soars to $16b as scrutiny intensifies

AI Summary

An Australian fintech start-up’s valuation has surged to $16 billion amid intensifying regulatory scrutiny across multiple continents. The company processes over $1 billion daily, raising concerns among regulators in several jurisdictions.

The value of the fintech that moves more than $1 billion a day is soaring. Regulators on two continents are asking hard questions about it.