CEO Jack Dorsey said the business will be dedicated to “decentralized financial services” using bitcoin.
Sweden's Tink offers Visa an entrée to a fast-growing market that "has the potential to create an alternative" to debit- and credit-card networks.
“Now was the time to go public to accelerate our growth and get the tools of responsible wealth-making in everyone’s hands as fast as possible."
The $2.5 billion deal will enable Bill.com to offer expense management software and smart corporate cards to its more than 115,000 customers.
The fintech company's CFO Amrita Ahuja said bringing banking capability in-house will enable the company to “operate more nimbly.”
The flotation of the online lender extends "a frenzied run of tech IPOs dating back to the second half of last year."
As developments in fintech continue to emerge, Chinese regulators have become increasingly worried about finance being overshadowed by technology.
Beam allegedly made false promises to users of its app that it would provide them with 24/7 access to their funds and substantial interest rates.
The proposed transaction is being reviewed over antitrust concerns.
The bank’s QuickAccept service allows businesses to take card payments with no fee, and sales will hit their Chase accounts on the same day.
The deal "accelerates our plans to offer U.S. small businesses an easy and efficient way to manage their payments and cash flow digitally in one place."
The company said the approval was “a significant step in [its] application process for a national bank charter.”
