Sanctions, Superapps, and Seed Money: The Stakes Are Getting Higher

24th June 2025

From BNPL loans reshaping credit scores to Tesla’s robotaxi test run in Texas, today’s roundup captures financial innovation, regulatory shifts, and Big Tech’s bold moves. Revolut’s CEO eyes a Musk-style payday, Nvidia’s Huang is cashing out, and Italy’s financial sector draws EU scrutiny. Plus, venture money continues to flood into AI infrastructure and fintech, while regulators, investors, and activists all have something to say. All in today’s read-and-eat.

Major Headline

• Buy Now, Pay Later loans will soon shape credit scores

  
  

• FICO will soon begin incorporating Buy Now, Pay Later (BNPL) loans into its credit scoring models, providing lenders with visibility into a fast-growing but previously opaque form of consumer debt. The updated models, FICO Score 10 and FICO Score 10 T, will include repayment behavior on BNPL installment loans. This could benefit consumers who use BNPL responsibly—especially young adults with limited credit histories—by building their credit scores. But missed payments could also become liabilities. “That’s the more optimistic use case, that these people could be brought into the credit system,” Bankrate’s Ted Rossman told CNN. The move highlights BNPL’s shift from a trendy fintech product to a mainstream financial service that carries long-term credit implications. Yahoo Finance 

• Revolut CEO eyes massive payday if fintech hits $150B valuation

  
  

• Nik Storonsky, the CEO and co-founder of Revolut, could secure a multibillion-dollar windfall if the fintech giant achieves a $150 billion valuation. The payout plan, modeled after Elon Musk’s Tesla deal, was structured before the company’s 2021 SoftBank-led funding round and could hand Storonsky up to 10% of the company in phases. Currently valued at $45B, Revolut saw record profits of £1B last year, driven by a surge in card fees, crypto trading, and customer growth beyond 50 million. The high-stakes incentive has sparked comparisons with Silicon Valley’s most ambitious comp packages and signals investor confidence ahead of a potential IPO. Financial Times 

• Nvidia CEO Huang starts unloading stock under $865M trading plan

• Jensen Huang, CEO of Nvidia and one of the world's wealthiest tech execs, has begun selling shares under a 10b5-1 trading plan that could see him offload up to $865M in stock by the end of the year. Last week, he sold 100,000 shares for $14.4M. Nvidia board member Mark Stevens has also liquidated over $88M in shares and is expected to sell more. The move comes as Nvidia continues to dominate the AI chip market, with its stock soaring on the back of record demand. The prearranged plans are designed to avoid market shocks, but they reflect growing pressure among insiders to lock in gains. Bloomberg 

• Tesla rolls out robotaxis in Texas test

• Tesla has begun offering self-driving rides to paying passengers in Austin, Texas, marking a major milestone in its pursuit of full autonomy. CEO Elon Musk called it “the culmination of a decade of hard work.” About 10 robotaxis are part of the initial rollout, with a safety monitor in the passenger seat. The service charges a flat fee of $4.20. Influencers posted videos of rides through a Tesla robotaxi app. While Tesla leads the PR race, experts caution the industry remains years from true scale. The trial marks a crucial but limited first step. Reuters 

Minor Headline 

• Senate rules out CFPB funding cuts in latest budget bill — Reuters

  
  

• Oman to become Gulf’s first country to impose personal income tax — Financial Times

  
  

• Apple rushes to comply with EU app store rules to avoid fines — Financial Times 

  
  

• Google adds AI features to Chromebook Plus lineup — TechCrunch

  
  

• Over a million users now access AI-powered Alexa+ — TechCrunch

  
  

• FTC urged to investigate Spotify’s subscription bundling — TechCrunch 

  
  

• Tesla sued over deadly New Jersey crash involving Model S — Reuters

  
  

• Apple sued by shareholders for allegedly overstating AI progress — Reuters

Gen Z Word of the Day: Touch Grass 

Meaning: A phrase used to tell someone to disconnect from the internet and experience real life.

Example:  “You’ve been arguing about stablecoins for three hours—go touch grass.”