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A Caribbean startup bank's failed legal bid to trace €1.4 million in "missing" customer funds allegedly held at an electronic money institution, or EMI, in Britain illuminates the complex, fraught nature of correspondent banking-like arrangements between fintechs. In a ruling handed down in London last month, Deputy High Court Judge Clare Ambrose threw out an application by The Kingdom Bank, a digital, "crypto-friendly" lender licensed in Dominica, to compel Moorwand, an EMI in Britain, to share details on an unspecified number of transactions in and out of a "master account" from April 2021 to February 2022. The master account at...