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Evening Standard
Evening Standard
Business
Simon Hunt

Tech firms pour cash into Revolut and Wise amid Silicon Valley Bank demise

Revolut WISE Silicon Valley Bank United Kingdom Standard London

UK tech firms are pouring cash into Revolut, Wise and other London fintechs after scrambling to withdraw funds from Silicon Valley Bank amid fears they may lose access to their deposits, the Standard has learned.

Revolut said inbound volumes from Silicon Valley Bank were a staggering 16.6 times higher than normal yesterday, while today’s transfers could be higher still.

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