BankerAdvisor's Ongoing Series of How Fintech is Making Lives Better

Remitting it Forward

Run on digital assets leads platforms to freeze user accounts, including withdrawals. Bankruptcy looms. 

The Big Chill in Crypto

How Crypto Loans Are Reshaping Banking Without Banks

HODL and Borrow

How transactions, business adoption, and legislative momentum have moved stablecoins into the mainstream

Summer of Stablecoin

Coinbase, Google Cloud, MinePlex among deals

Crypto Still Has Fans...And Deals

Firm to combine asset, wealth and consumer banking into one unit

Goldman Sachs Reorganization 

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SWIFT said it is uniquely positioned to interlink the fragmented digital asset landscape with its forthcoming digital currency trials in 2025. Banks in North America, Europe and Asia are preparing to participate in trials involving digital assets by the Society for Worldwide Interbank Financial Telecommunication (SWIFT).  SWIFT announced on Oct. 3 that it will begin digital asset trials on its network in 2025. The trials will involve experiments with transactions that include multiple digital currencies and assets.

Banks to join SWIFT digital asset trials in 2025

Fintech stocks were some of the biggest decliners on Monday as the Nasdaq suffered its steepest drop since 2022. Crypto-related companies Robinhood, Coinbase and Strategy all notched double-digit declines. Analysts at JPMorgan Chase noted that “sentiment has soured of late” in fintech.

Fintech stocks plummet as Wall Street worries about consumer spending, credit

Klarna, which is known for its popular buy now, pay later business, said Wednesday it has confidentially filed IPO documents with the SEC. Analysts recently valued the company in the $15 billion range. Klarna investors include SoftBank, Sequoia Capital and London-based firm Atomico.

Buy now, pay later provider Klarna says it filed confidentially for U.S. IPO

In the summer of 2022, a young marketing executive in London, eager to revamp her wardrobe, clicked “Pay in 4” at checkout. The process was seamless—no credit check, no hassle, and most importantly, no immediate cash outflow. Fast forward six months, she found herself juggling payments across three different BNPL providers, struggling to keep up as late fees and missed payment penalties mounted. Her story is not unique. BNPL has redefined consumer credit, offering frictionless financing at the point of sale. But beneath its convenience lies a pressing concern—are we enabling financial empowerment, or are we simply repackaging debt in a more palatable way?

The BNPL Boom: The Good, The Bad, and The Regulatory Challenge

eToro Group Ltd (“eToro”) today announced that it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to the proposed initial public offering of its Class A common shares. The number of shares to be offered and the price range for the proposed offering have not yet been determined. eToro has applied to list its Class A common shares on the Nasdaq Global Select Market under the ticker symbol “ETOR.” The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or other terms of the offering.

EToro goes public on IPO filing

Stablecoins—cryptocurrencies pegged to stable assets like the U.S. dollar—are rapidly reshaping the global remittance landscape. For South and Southeast Asia, where remittances are a major economic lifeline, these digital assets offer a compelling solution to long-standing challenges: high costs, delays, currency volatility, and limited financial access.

The Stablecoin Revolution in Remittances

Launched in July 2023, the Federal Reserve's FedNow service has been a game-changer in the U.S. payments landscape. With over 900 financial institutions onboarded, including major players like Chase and Wells Fargo, FedNow is reshaping the future of payments in the U.S. FedNow represents a significant shift from the traditional Automated Clearing House (ACH) system to real-time payments, ensuring transactions are processed instantly, 24/7/365. ACH, while effective, typically requires one to two business days for transaction completion. In contrast, FedNow processes payments in seconds, offering a faster and more efficient alternative that aligns the U.S. with global payment standards. 

One Year Since the FedNow Launch: What You Should Know

Authorised Push Payment (APP) fraud continues to be one of the most pressing concerns for financial services, the payment industry, law enforcement and the general public – and new developments in cross-border payments may be making it easier. A new study by The Payments Association, the UK’s community and advocate for the payments industry, highlight how the speed and anonymity of cross-border payments, and the global patchwork of different regulatory regimes, is being exploited by criminals. APP fraud is easy to understand and, unfortunately, equally easy to carry out. Essentially, APP fraud is any type of fraud that uses an Authorised Push Payment – whenever a person is tricked into voluntarily sending a payment to another person. 

Cross-Border Payments Could Further Enable APP Fraud, Says Payments Association Study

Chime Financial has reportedly confidentially filed for an initial public offering (IPO) in the US, according to a report by Bloomberg. The Bloomberg report, citing sources familiar with the matter, says that Chime is targeting 2025 for its public debut, but its sources add that the timing has yet to be confirmed and plans may change. Founded in 2012, Chime provides digital-first mobile banking solutions to more than 22 million users in the US, offering services such as cashback rewards, checking and high-yield savings accounts, a Visa-powered credit and debit card, earned wage access services, and more. 

US fintech Chime reportedly submits confidential filing for potential 2025 IPO

U.S. merchants who use JPMorgan to handle payments can soon add Affirm to their checkout pages, according to a release. Consumers will have access to loans ranging from 30 days to 60 months, according to Affirm. The deal follows a similar announcement from rival Klarna last month, in which the Swedish fintech said it would be available to JPMorgan’s merchants.

Affirm announces JPMorgan Chase merchants can soon offer installment loans at checkout

Mastercard reportedly plans to lay off 3% of its global workforce — about 1,000 people — as part of a reorganization it announced earlier this year. Most of the employees who will be affected by the move will be notified by the end of the current quarter, Reuters reported Friday (Aug. 16), citing a Mastercard spokesperson.  The company announced an executive restructuring on April 9. Mastercard said this realignment of its organizational structure centered on three areas — Core Payments, Commercial & New Payment Flows, and Services — and would help accelerate growth and deliver value to shareholders.

Mastercard to Cut 3% of Workforce Amid Previously Announced Reorganization

A Bitcoin-related bill is gaining support in the United States, signaling a potential boost for the cryptocurrency’s value, which could hit $1 million. Former President Donald Trump’s victory in the 2024 presidential election on Nov. 5 has sparked optimism for more crypto-friendly policies.
One of the most anticipated bills is the Bitcoin Act, championed by Wyoming Republican Senator Cynthia Lummis, which proposes the creation of a strategic Bitcoin BTC tickers down $98,418 reserve for the US, making it the first nation to use it as a “savings technology.”

US Bitcoin reserve during Trump presidency could pump BTC to $1M

London-based fintech Zepz is laying off around 200 IT workers as part of a major redundancy plan, two employees impacted by the move told CNBC. Zepz confirmed to CNBC it is eliminating roles to “sustainably support the next phase of long-term strategic goals and continued growth.” As part of the cost-cutting exercise, Zepz also proposed the closure of business units in Kenya and Poland.

Fintech unicorn Zepz to lay off 20% of its global workforce, sources say

The US Senate has voted to overturn a Consumer Financial Protection Bureau rule that would give the watchdog oversight of tech giants, such as Apple, Google and X, that offer digital payment apps and wallets. Voting along party lines, the Senate backed a Congressional Review Act resolution introduced by Republicans Pete Ricketts and Mike Flood. It still needs to pass in the House of Representatives. Finalised late last year, the CFPB rule is designed to ensure that the big nonbank players follow federal law just like large banks, credit unions, and others already under its supervision.

Senate votes to scrap CFPB oversight of Big Tech payment apps

US fintech Block is laying off 931 staff and closing 748 open roles, as the mobile payments and POS company undergoes a major reorganisation. Dorsey told staff that 391 roles would be cut for "strategy" reasons. A further 460 people who scored a "below" rating on the company's internal performance tracking metrics are also being ditched. Eighty manager roles are also to be eliminated in an attempt to flatten the company's hierarchy.

Block chops 931 staff and closes open positions

Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions, today announced that Michael P. Lyons has been appointed Chief Executive Officer of Fiserv. Lyons assumed the position upon the confirmation of Frank Bisignano, Fiserv’s prior CEO, as Commissioner of the Social Security Administration. Lyons also joins the Fiserv Board of Directors. 



Michael P. Lyons assumes leadership of Fiserv as CEO

Klarna Group Plc has filed for a U.S. initial public offering at a weak moment for company debuts, though the fintech player thinks it can offer investors more than just its buy-now-pay-later products. Klarna said it was profitable in 2024, with its per-share net profit of 1 cent last year contrasting with a per-share net loss of 69 cents a share in 2023. The company said its revenue last year rose to $2.8 billion, from $2.3 billion. It ended 2024 with $3.2 billion in cash and equivalents, according to a late Friday filing with the U.S. Securities and Exchange Commission. The company did not disclose the number of shares it seeks to sell on the market nor their expected price range.

Fintech Klarna files for IPO at a weak point for public debuts

The total value of crypto stolen in 2024 was up 21% on the previous year, although still way down on the $3.7 billion nabbed in 2022. Hackers linked to North Korea have become notorious for their sophisticated and relentless tradecraft, often employing advanced malware, social engineering, and cryptocurrency theft to fund state-sponsored operations and circumvent international sanctions. In 2024, North Korea-affiliated hackers stole $1.34 billion across 47 incidents — more than double the amount taken the previous year.

North Korea hackers behind 60% of all crypto stolen in 2024

In a significant move to counteract international sanctions and reduce dependency on the global financial system Swift, Russia has called on BRICS nations to establish a new cross-border payments network, reported Bloomberg. This initiative is aimed at facilitating transactions in local currencies and strengthening economic ties within the bloc. The proposed network would involve a consortium of commercial banks capable of executing transactions in the respective local currencies of BRICS countries. It also suggests the establishment of direct connections between central banks to further insulate the group from external financial systems.

Russia proposes Swift alternative for cross-border payments

Mastercard introduced a new solution that will enable banks to facilitate commercial cross-border payments that are near real-time, predictable and transparent. The new Mastercard Move Commercial Payments is designed to simplify operations, optimize liquidity, reduce counterparty risk and provide end-to-end visibility for banks and their customers, the company said in a Monday (Oct. 21) press release.

Mastercard Introduces New Commercial Cross-Border Payment Solution for Banks

Five banking associations have called on the CFPB to withdraw its new regulation on overdraft fees, arguing that it is unnecessary due to recent innovations and could potentially harm consumers.The coalition, which includes the Bank Policy Institute and the American Bankers Association, cautioned that the rule would harm millions of consumers who rely on overdrafts, particularly those with limited, if any, options for meeting short-term liquidity needs.

Banking Associations Warn New Overdraft Rule Could Harm Consumers

Nasdaq plans to invest $50 million in the crypto company in a partnership that will allow the stock exchange to offer Gemini’s custodial services to its financial institution clients.  Gemini will also become a distribution partner for Nasdaq’s trade management system known as Calypso.

Crypto World Nasdaq to invest $50 million in Winklevoss-founded crypto exchange Gemini

Stripe, the FinTech giant, is reportedly in talks to acquire crypto startup Bridge for $1 billion, according to sources familiar with the discussions. This potential acquisition would be the largest to date for Stripe, which was recently valued at $70 billion. However, the deal is still under discussion and subject to regulatory considerations and compensation for employees. 
Bridge, a provider of infrastructure for crypto stablecoins, has previously raised $58 million in funding and has a strong customer base that includes government departments and companies like SpaceX and Coinbase. The startup offers software that enables businesses to accept cross-border payments made with stablecoins. 

Stripe Aims for Largest Acquisition Yet with $1 Billion Deal for Bridge

Growth in the payments industry, which was once characterized by rapid expansion, is now slowing as the shift from cash to digital payments has reached its peak, according to BCG research. The BCG Global Payments Report 2024 found that revenue growth is expected to halve by 2028, with global revenues set to rise at a compound annual growth rate of just 5% to $2.3 trillion. This marks a sharp decline from the 9% growth recorded in the previous five years, which saw revenues to $1.8 trillion in 2023.

Payments Industry Growth Slows as Cash-to-Digital Shift Reaches Peak

Cross-border payments keep the world connected, fueling everything from international trade to daily transactions. However, in the rapidly developing world, traditional systems like SWIFT might find themselves outdated. They are starting to fall behind, stopped by delays, high costs, and inefficiencies. This results in less year-on-year growth. Due to inconveniences, they have gradually been replaced by blockchain, a revolutionary technology promising to shake up how money moves across borders. Think speed, transparency, security, and cost savings tools all into one—this is blockchain. Let’s dive deeper into this topic and consider why blockchain is leading this financial revolution.

Blockchain vs. SWIFT: Why Traditional Systems Can't Keep Up in the Global Economy

Finance and payments company Klarna says it has reduced hundreds of jobs and sees more reductions coming due to its implementation of AI. The Swedish company is using AI to handle customer queries with chatbots to drastically reduce the time taken to resolve issues. A buy-now-pay-later company, widely expected to seek a stock market listing next year, Klarna has been one of the early adopters of generative AI to cut costs and boost productivity.

Klarna uses AI to reduce employee numbers

BlackRock’s Bitcoin exchange-traded fund (ETF) saw its largest-ever single-day outflow as Bitcoin funds notched a fourth straight trading day of outflows totaling more than $1.5 billion. BlackRock’s iShares Bitcoin Trust ETF (IBIT) hit $188.7 million in outflows on Dec. 24, surpassing its previous record of $72.7 million set on Dec. 20, per CoinGlass data. All 12 United States-based spot Bitcoin ETFs saw joint total outflows hit $338.4 million on Christmas Eve. Since Dec. 19, the funds have seen joint net outflows of $1.52 billion.

BlackRock’s Bitcoin ETF sees record outflow as funds bleed $1.5B in 4 days

Fiserv’s leadership transition was over in less than two weeks last month, with the payment processor now run by two top executives after Chairman and CEO Frank Bisignano deemed his successor ready to lead after about 10 days at the company, Fiserv CFO Bob Hau told investors Tuesday. Fiserv President and CEO-elect Michael Lyons.  Michael Lyons, Fiserv’s president and CEO-elect and the former president of PNC Financial Services Group, joined a monthly Firserv management committee meeting on Jan. 27, his first day with the company, Hau said.

Fiserv CEO transition took only 10 days, CFO says

Melio, an accounts payable and receivable platform for small and medium businesses, has hit a $2 billion valuation in a $150 million strategic funding round led by Fiserv. Shopify Ventures, Capital One Ventures, Accel, Bessemer, Coatue, Frontline Ventures, General Catalyst, Latitude and Thrive Capital joined the Series E for New York-based Melio. The funding follows a ten-fold increase in revenue since the last $110 million round three years ago. Melio’s platform integrates cash flow management, accounts receivable and accounts payable solutions to help SMBs - and their accountants - maximise cash flow and save time managing their payment operations.

Fiserv leads $150m funding round for Melio

Decentralized exchanges (DEXs) set a record high in December, with monthly trading volume soaring to $462 billion, according to decentralized finance (DeFi) data platform DefiLlama. Data released on Dec. 30 showed that December was the highest-ever month for DEX volumes, continuing momentum from November. In November, the DeFi space saw a monthly volume of $374 billion, driven by anticipation of a more favorable regulatory regime in the United States following Donald Trump’s victory in the US presidential election. 

Decentralized exchange volume hits record high of $462B in December

The European Central Bank (ECB) is developing a new platform to settle transactions using distributed ledger technology (DLT) in central bank money, aiming to integrate and harmonise the European financial market for digital assets. The move is part of the ECB’s ongoing efforts to ensure that the financial sector can leverage the benefits of DLT while maintaining the stability and integrity of the monetary system. The initiative will follow a dual-track approach, with the immediate focus on developing an interoperability link with TARGET Services. These services facilitate the movement of cash, securities and collateral across Europe, playing a key role in the financial infrastructure.

European Central Bank Outlines Two-Track Approach to Enhance DLT Transaction Settlements

Transak has received its second Money Transmitter License (MTL) from the US state of Delaware, while also gaining registration with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). The MTL will allow Delaware residents and businesses to use the cryptocurrency platform. Transaks first MTL came from the Alabama Securities commission and the company stated they intend to continue to expand across the US. 

Transak gains Delaware Money Transmitter License and FINTRAC registration

AltIndex’s report showed that this growth was driven by Bitcoin's rally, spot ETF approvals, increased DeFi activities, and regulatory clarity in key regions. Binance dominated the market by reportedly processing 40% of all crypto trades with $7.7 trillion in trading volume.The crypto market experienced a monumental performance in 2024. Boosted by major developments like regulatory clarity, Bitcoin spot ETF approvals, and DeFi innovations, the average monthly trading volume soared to $1.5 trillion, up a staggering 135% from last year, AltIndex reported.

Crypto Sees Second-Best Year Ever: 2024 Trading Hits $18.4 Trillion

Circle Internet, the US group behind the world’s second-largest stablecoin, has filed to list in New York, the first major cryptocurrency company to try for an initial public offering since President Donald Trump ushered in a more favourable environment towards digital assets. 
The firm lodged its application with regulators for an IPO on the New York Stock Exchange late on Tuesday, having filed initial paperwork at the start of last year, after a previous attempt fell through in late 2022.  Tuesday’s filing shows Circle’s revenues on the reserves it maintains to back its USDC stablecoin jumped to $1.66bn last year, from $1.4bn in 2023. 


Stablecoin operator Circle files for IPO as revenues jump to $1.7bn

Web3 technologies are poised to transform the world of commerce just as Web2 revolutionized access to information. The result will be a vast, open, liquid digital marketplace where all physical goods can be listed and traded seamlessly.In the early days of the internet, information was siloed within proprietary networks. Over time, the zero marginal cost of distribution, combined with consumer demand for accessibility, led to the open, searchable internet we enjoy today. Commerce, however, has been slower to evolve due to inherent complexities. Unlike information, physical assets require trust between parties, the ability to mediate disputes and reliable settlement mechanisms. 

How AI Agents and Crypto Will Revolutionize Commerce

Bitcoin would be a big winner from a potential US recession as it’s built to thrive in a high fiscal spending, low interest rate environment, says a BlackRock executive. BlackRock’s head of digital assets, Robbie Mitchnick, says that Bitcoin will most likely thrive in a recessionary macro environment, contrary to what some analysts may think. “I don’t know if we’ll have a recession or not, but a recession would be a big catalyst for Bitcoin,” Mitchnick said in a March 19 interview with Yahoo Finance. Mitchnick said Bitcoin  is catalyzed by increased fiscal spending, deficit accumulation, lower interest rates and monetary stimulus — all of which tend to happen in recessions.

US recession would be a big catalyst for Bitcoin: BlackRock

Banks quickly raised interest rates to record levels and added new monthly fees on credit cards last year when a Consumer Financial Protection Bureau rule threatened a key revenue source for the industry. Now they’re far more reluctant to reverse those steps, even after bank trade groups succeeded in killing the CFPB rule in federal court last month. Synchrony and Bread Financial, two of the biggest players in the business of issuing branded credit cards for the likes of Amazon, Lowe’s and Wayfair, are keeping the higher rates in place, executives said in recent conference calls.

Banks are keeping credit card rates high even after the CFPB rule they blamed for high APRs was killed

Coinbase, the leading crypto exchange in the U.S., is reportedly seeking regulatory approval to offer “tokenized equities” on its platform, a move that would put the company in direct competition with retail brokerages like Robinhood and Charles Schwab. Paul Grewal, chief legal officer at Coinbase, told Reuters that the company was seeking the go-ahead from the Security and Exchange Commission for the new product, adding that tokenized equities was a “huge priority.” 

Coinbase is seeking regulatory approval to offer blockchain-based stock trading 

There was nowhere to run this week for investors seeking to escape a market rout that came on like a tidal wave, crashing down Thursday. Tariffs, of course, dominated, and once they were real, as of Wednesday night, the stage was set for a plunge Thursday that’s not been seen in years. Investors fled the digital platforms and the buy now, pay later (BNPL) players — many of them international in scope, and dependent on growth in lending or consumer spending. And within the FinTech IPO Index, which sank more than 11%, not a single name was in the black.

FinTech IPO Index Plunges 11.7% Amid Broad-Based Market Rout

The US Department of Justice (DOJ) has filed a civil antitrust lawsuit against Visa over allegations of “monopolisation and other unlawful conduct in debit network markets in violation of Sections 1 and 2 of the Sherman Act”. In a press release announcing the lawsuit on 24 September, the DOJ says: “Filed in the US District Court for the Southern District of New York, the complaint alleges that Visa illegally maintains a monopoly over debit network markets by using its dominance to thwart the growth of its existing competitors and prevent others from developing new and innovative alternatives.”

US Department of Justice files civil antitrust lawsuit against Visa

The National Center for Public Policy Research — a Washington DC-based think tank championing free markets — submitted a shareholder proposal to Amazon saying that a Bitcoin corporate treasury strategy should be considered at the April 2025 shareholder meeting.
According to the proposal, the Consumer Price Index (CPI) used to measure inflation, which currently puts inflation at 4.95%, is a “remarkably poor measure” of true currency debasement. The authors suggested the true inflation rate may be double the reported CPI figure. This greatly erodes Amazon’s $88 billion in cash and short-term cash equivalents, the letter said, and to protect shareholder value, Bitcoin should be used to hedge against this risk. 

National Center for Public Policy Research proposes BTC treasury to Amazon

Bitcoin has been thrust back into the spotlight by extreme price swings this year, with U.S. president Donald Trump’s assault on the global trade order resulting in wild predictions of total U.S. dollar collapse. Front-run Donald Trump, the White House and Wall Street by subscribing now to Forbes’ CryptoAsset & Blockchain Advisor where you can "uncover blockchain blockbusters poised for 1,000% plus gains!" The bitcoin price has reclaimed $100,000 per bitcoin, topping the closely-watched level even as BlackRock quietly issues a stark bitcoin warning.

JPMorgan Just Flipped On Bitcoin—Issues Huge New 2025 Price Prediction

California has taken a step closer toward embracing crypto after a bill allowing state departments to accept digital currencies sailed through the state’s lower house with a unanimous vote and is now headed for the Senate. Assembly Bill 1180 (AB 1180), which passed the California State Assembly on June 2 with a 68-0 vote on its third reading, would require the Department of Financial Protection and Innovation (DFPI) to develop rules permitting state fees and transactions under the Digital Financial Assets Law (DFAL) to be payable in crypto.

California passes bill to accept crypto for state payments

Robinhood's tokens offering exposure to OpenAI are not actual equity but are backed by a special purpose vehicle. OpenAI has stated that any transfer of equity requires their approval, which has not been granted. Similar models have faced challenges, as seen with Linqto's bankruptcy, raising concerns about investor protections.

Robinhood Says OpenAI Stock Tokens Backed by Special Purpose Vehicle

Bitcoin  extended gains Monday to hit a new milestone, breaking past $120,000, fueled by a rally in the cryptocurrency’s ETFs. The largest cryptocurrency by market capitalization traded at $121,921 at 6:20 a.m. ET, according to data from Coin Metrics. Earlier in the session, it topped $122,000. The rally has seen bitcoin reach new highs amid more inflows into bitcoin ETFs. On Thursday, bitcoin ETFs had logged their biggest day of inflows in 2025 at $1.18 billion.

Bitcoin surpasses $120,000 to record highs ahead of U.S. lawmakers’ ‘Crypto Week’

The Consumer Financial Protection Bureau on Tuesday dismissed its lawsuit against the operator of the Zelle payments network and the three U.S. banks that dominate transactions on it.  The CFPB sued Early Warning Services, which runs the peer-to-peer payments network, as well as JPMorgan Chase, Bank of America and Wells Fargo in December, alleging that the firms failed to properly investigate fraud complaints or give victims reimbursement. The CFPB “dismisses this action against Defendants Early Warning Services, LLC, Bank of America, N.A., JPMorgan Chase Bank, N.A., and Wells Fargo Bank, N.A., with prejudice,” the regulator said.

Finance CFPB drops lawsuit against JPMorgan Chase, Bank of America and Wells Fargo over Zelle fraud

PayPal Holdings, Inc. (NASDAQ: PYPL) announced it is enabling its U.S. merchants to buy, hold and sell cryptocurrency directly from their PayPal business account.  At launch, this functionality for Business Accounts will not be available in New York State. Today's announcement is PayPal's latest step to increase cryptocurrency's utility by making increased functionality available to millions of merchants in the U.S. 

PayPal lets US business accounts buy and sell crypto

Collectively, Americans now owe a record $1.17 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York. Credit card balances rose by $24 billion in the third quarter of 2024 and are 8.1% higher than a year ago.Despite that increase, credit card delinquency rates improved — with 8.8% of balances transitioning to delinquency over the last year, compared with 9.1% in the previous quarter, the New York Fed found. That change could “suggest that rising debt burdens remain manageable,” the New York Fed researchers said on a press call Wednesday.

Credit card debt hits record $1.17 trillion, New York Fed research shows

A Lending Tree survey found 25% of buy now, pay later users are funding grocery purchases with the loans, up from 14% in 2024.  The survey said 41% of respondents said they made a late payment on a BNPL loan in the past year, up from 34% in the year prior. The figures are the latest evidence that some consumers are having trouble affording essentials such as groceries under the pressure of high prices and interest rates.

More Americans are financing groceries with buy now, pay later loans — and more are paying those bills late, survey says

This week, Governor Kelly Ayotte signed House Bill 302 into law, paving the way for NH'S Treasury to allocate up to 5% of public funds to these assets. The legislation is based on a plan by pro-Bitcoin non profit Satoshi Action Fund. Announcing the decision on X, Governor Ayotte said: "New Hampshire is once again First in the Nation! Just signed a new law allowing our state to invest in cryptocurrency and precious metals." As reported in The Hill, the metals and assets must have a market cap of more than $500 billion, and bitcoin will be the asset used to fill the stockpile.

New Hampshire becomes first US state to establish Strategic Bitcoin Reserve

Klarna is piloting a debit card called Klarna Card in the U.S. The card will also launch in Europe later this year. The Swedish fintech has been trying to shift its image from “buy now, pay later” poster child to a more all-encompassing banking player.

Klarna takes on banks with debit card as it diversifies beyond buy now, pay later

The Payment System Regulator (PSR) has revealed that increases to payment processing fees implemented by Visa and Mastercard since 2017 cost UK businesses an extra £170million a year.It says that these increases drastically impact their ability to invest and grow. This could lead to direct economic constraints, particularly for small merchants, as a lack of easy-to-understand fee information led to costs for acquirers and merchants, including small retailers. 

PSR Finds ‘Lack of Competition’ in Card Market, as High Visa and Mastercard Fees Cost Firms Millions

Berlin-based payment software FinTech Payrails has raised $32 million in new funding.
The company’s Series A round, announced Thursday (June 12), will help the company speed product innovation and expand across Europe, the Middle East and Africa to meet growing demand from larger enterprises. Payrails says it addresses this with a payment operating system specifically designed for enterprises, allowing companies to orchestrate complex payment flows, boost performance, and “abstract the complexity of system integrations.”


Payrails Raises $32 Million to Streamline Enterprise Payments

Tom Lee has been appointed chairman of the board of directors of bitcoin miner BitMine Immersion Technologies, effective Monday. BitMine announced a $250 million private placement to implement a buying strategy around ether, which it aims to make its primary treasury reserve asset. Lee’s appointment comes amid a groundswell of interest from traditional financial institutions around stablecoins, many of which run on the Ethereum network.

Wall Street strategist Tom Lee is aiming to create the MicroStrategy of Ethereum

The Consumer Financial Protection Bureau declared on Wednesday that customers of the burgeoning buy now, pay later industry have the same federal protections as users of credit cards. The agency unveiled what it called an “interpretive rule” that deemed BNPL lenders essentially the same as traditional credit card providers under the decades-old Truth in Lending Act. The BNPL market is dominated by fintech firms like Affirm, Klarna and PayPal.

CFPB says buy now, pay later firms must comply with U.S. credit card laws

FTX has reportedly sued former Trump administration official Anthony Scaramucci to recover creditor funds. The suit was one of several filed by the bankrupt cryptocurrency company in its efforts to claw back money owed to its creditors, TechCrunch reported Saturday (Nov. 9). In addition to Scaramucci’s SkyBridge Capital, other defendants include Crypto.com and Fwd.us, a lobbying group backed by Mark Zuckerberg. According to the report, FTX says it is seeking to recoup money that was part of “a campaign of influence-buying” by founder and CEO Sam Bankman-Fried, carried out as the company was struggling to cover its cash flow needs. 

FTX Sues Anthony Scaramucci to Recover Creditor Funds

Apple is discontinuing its buy-now-pay-later service, known as Apple Pay Later, barely a year after its initial launch in the U.S., and will rely on companies who already dominate the industry like Affirm and Klarna. It’s an acknowledgement from a company known for producing hit products that building a financial-services business from scratch, as Apple has been doing for several years, is difficult and highly competitive. Apple Pay Later launched with fanfare in March 2023 as a way for iPhone customers to split purchases of up to $1,000 into four equal payments with no fees or interest. The service was Apple’s answer to the growing popularity of buy-now-pay-later services like Klarna, Affirm, and others.

Apple kills off its buy-now-pay-later service barely a year after launch 

Neighbourhood loyalty platform Bilt has raised $250 million in primary funding, sending its valuation soaring to $10.75 billion. The round was led by General Catalyst and GID with further investment from United Wholesale Mortgage and more than triples Bilt's valuation from a $150 million round just a year ago. Launched in 2021, Bilt began as the first platform enabling US consumers to earn rewards on their largest monthly expenditure - rent - and then use the rewards via a card at local merchants.

Bilt hits $10.75bn valuation

Bank of England governor Andrew Bailey joins a growing list of European officials concerned with the rise of stablecoins. Stablecoins introduce systemic risks to banking institutions that could destabilize the entire financial system, causing sovereign governments to lose control over their currencies, the BOE official told The Sunday Times in an interview.  He also added that the United Kingdom’s central bank should not adopt a central bank digital currency (CBDC) or otherwise seek to launch a centrally-managed digital fiat token.

Bank of England governor warns against private stablecoin issuance

Bank of America has announced it is getting ready to enter the stablecoin market after initially slow progress due to regulatory uncertainty. CEO Brian Moynihan made the announcement on July 16 during an earnings call in New York, amid a suite of digital asset regulation that is making its way through Congress. Moynihan said the bank is working on developing a stablecoin but stopped short of giving a timeline of its launch.

Bank of America to Enter Stablecoin Market

The Financial Times cited an unidentified source saying CEO Jamie Dimon’s previous remarks about Bitcoin had alienated some potential clients. JPMorgan Chase is reportedly looking into crypto-backed loans, signaling a potential shift in how US banks regard crypto assets.  The Financial Times reported on Tuesday, citing unidentified sources, that JPMorgan may start lending directly against crypto assets like Bitcoin. The FT reported this may happen by 2026, though the plans are subject to change. 

JPMorgan exploring crypto-backed loans amid stablecoin push: FT

The European Central Bank on Thursday kept interest rates steady amid major economic uncertainty, as the European Union scrambles to negotiate a trade agreement with the U.S. before the end of the month. The ECB has cut interest rates at each of its four meetings so far this year, taking its key deposit facility from 3% in January to 2% in June. Last year it reduced rates from a record high of 4%. “The environment remains exceptionally uncertain, especially because of trade disputes,” the ECB said in a statement.

European Central Bank holds interest rates as tariff turmoil keeps policymakers on edge

JPMorgan Chase said that the fintech middlemen that have helped a new generation of financial apps connect with traditional checking accounts are flooding the bank’s systems with unnecessary data requests. Of 1.89 billion data requests from middlemen hitting its systems in June, only 13% were initiated by a customer for transactions, according to an internal JPMorgan memo seen by CNBC. The majority of data pulls, known as API calls, were for purposes ranging from helping fintech companies improve their products or prevent fraud to other efforts including harvesting data for sale, said a person with knowledge of the memo.

JPMorgan says fintech middlemen like Plaid are ‘massively taxing’ its systems with unnecessary pings

The Bullish IPO this week is the latest sign that Wall Street is once again enthusiastic about new tech offerings. Prior to Bullish’s 84% gain, Figma and Circle more than doubled in their recent market debuts. Nasdaq CEO Adena Friedman told CNBC this week that there’s a “very healthy list” of companies looking to go public in the second half of the year.

Tech IPOs are roaring after ‘years of Prohibition’ — it may be too good

Deluxe (NYSE: DLX), a trusted Payments and Data company, today announced it has completed the acquisition of CheckMatch from Kinexys by J.P. Morgan, the firm’s industry-leading blockchain business unit.  Consistent with the company’s strategy, this acquisition will expand the Deluxe Payment Network (DPN) solution. CheckMatch is a service that digitizes the delivery of paper checks, enabling faster electronic conveyance, which was developed by Kinexys by J.P. Morgan.

Deluxe buys CheckMatch from Kinexys

Gemini, the Winklevoss-founded crypto exchange and custodian, has filed to list on Nasdaq under ticker GEMI, revealing steepening losses ahead of its IPO.  Gemini Space Station, the crypto exchange and custodian founded by Cameron and Tyler Winklevoss, has filed with the US Securities and Exchange Commission to list its Class A common stock on the Nasdaq Global Select Market under the ticker GEMI. Founded in 2014, Gemini operates a regulated crypto exchange, custody service, and a range of blockchain-based products, including the US dollar-backed Gemini Dollar (GUSD) stablecoin and a crypto-rewards credit card, the platform said in the filing submitted on Friday.

Winklevoss’ Gemini files for Nasdaq listing after strong Bullish debut

This is a company that, ten years ago, was just two guys sitting in a Canary Wharf office coding. Those two guys are Nik Storonsky and Vlad Yatsenko who, interestingly, are Russian and Ukrainian by background. No warfare here.  What has happened?  Well, going way back when, Nik and Vlad worked at Credit Suisse and both have a background in banking, admittedly with different perspectives. Nik was a trader and Vlad a developer. Nevertheless, working in derivatives in 2008 is a clear moment that shaped Nik’s thinking and, launching Revolut in 2015, he and his partner have followed a path to become the biggest fintech unicorn in Europe. 

Has #Revolut sparked a revolution?

PayPal Ventures has led an $18 million funding round in Kite, a company building the trust infrastructure for AI-generated autonomous payments. PayPal was joined by General Catalyst, 8VC, Samsung Next, Alumni Ventures, SBI US Gateway Fund, Vertex Ventures, Dispersion Capital, Avalanche Foundation, GSR Markets, LayerZero, Hashed, HashKey Capital, Animoca Brands, Essence VC, and Alchemy. The new financing brings total cumulative funding for the vendor to $33 million.

PayPal leads funding round in agentic AI firm Kite

Blockchain-based lender Figure Technology Solutions has increased the pricing of its initial public offering (IPO) to $25 per share. That new figure, announced late Wednesday (Sept 10), is above an earlier pricing of $20 to $22 per share. The company sold 31.5 million shares, raising $787 million and giving it a valuation of $5.3 billion. Founded in 2018, Figure initially offered home equity lending but has since established what it calls a vertically integrated model that weaves together origination, marketplace distribution and capital markets execution.


Figure Takes in $787 Million After Pricing IPO at $25 Per Share

Pave Finance, a wealth management software company, has raised $14 million in an oversubscribed seed financing round. The company stated the capital would be used to accelerate product development and support the commercial rollout of its AI-powered portfolio management platform designed for investment advisors.

Pave Finance Raises $14million to Roll Out AI Portfolio Management Platform For Advisors

Google has unveiled an open protocol designed to serve as the foundation needed to enable AI agents to transact payments on behalf of users and merchants. The tech giant has lined up more than 60 partners - including Adyen, Coinbase, Mastercard and PayPal - for the Agent Payments Protocol (AP2). Agentic commerce breaks the assumption that today’s payment systems generally make that a human is directly clicking "buy" during a transaction.


Google unveils Agent Payments Protocol to power AI commerce

A “third mandate” from the US Federal Reserve could change long-term monetary policy if actioned, which could be bad news for the dollar but good news for crypto. The Fed has long been considered to have a dual mandate —  price stability and maximum employment — but President Donald Trump’s pick for Fed governor, Stephen Miran, cited a “third mandate” earlier this month, sparking speculation on the future of central bank monetary policy. The third mandate is a statutory requirement buried in the Fed’s founding documents, which states that the central bank actually requires three objectives: maximum employment, price stability and moderate long-term interest rates.

Fed’s ‘third mandate’ may devalue dollar, send crypto soaring

Spreedly, a leading open payments platform, today announced its acquisition of Dodgeball, a modern fraud orchestration company. The acquisition brings payments optimization and fraud management under one platform, while advancing Spreedly’s artificial intelligence and open payments strategy. ‍The acquisition of Dodgeball, which has played a key role in shaping the fraud orchestration category, will provide Spreedly’s customers with a new layer of reliability and insights to eliminate fraud and make smarter e-commerce decisions. The acquisition will also enhance Spreedly’s workflow engine and help to establish a foundation for AI-powered payments co-pilot.

Spreedly acquires Dodgeball

Coinbase CEO Brian Armstrong has outlined plans to build a crypto super app, offering credit cards, payments and Bitcoin rewards to rival traditional banks. Speaking during a recent interview with Fox Business, Armstrong confirmed the company’s plans to offer a full suite of financial services, from payments to credit cards and rewards, all powered by crypto rails.


Coinbase CEO sets sights on replacing banks with crypto super app

Stablecoin payments firm RedotPay said it joined the ranks of fintech unicorns after securing a $47 million strategic investment round. The raise saw participation from Coinbase Ventures, with continued backing from Galaxy Ventures and Vertex Ventures, and support from a global tech entrepreneur whose identity was not disclosed, according to an announcement shared with Cointelegraph.

Crypto payments firm RedotPay claims unicorn status with $47M raise

Swift is teaming up with Consensys and over 30 unspecified institutions to build a blockchain-based settlement system for 24/7 real-time cross-border payments. The Swift interbank communication network is working with Ethereum ecosystem developer Consensys to develop a blockchain settlement system.  According to a Monday announcement, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) is developing a blockchain in collaboration with over 30 financial institutions and Consensys. The initial focus is on developing infrastructure for “real-time 24/7 cross-border payments.”

Swift partners with Consensys to build blockchain settlement system

The stockmarket is not the economy, as the old investing cliché goes. That is obvious enough to anyone paying attention in America this year. President Donald Trump’s tariff fervour has dented growth, even if not by as much as expected after “Liberation Day”, and yet the stockmarket has soared: the S&P 500 index of large American companies is up by nearly 15% so far this year, comfortably ahead of the historical average.  But does the stockmarket power the economy? At most points in time, it would be a ridiculous question. In recent months, though, the rise in American share prices has coincided with, and been fed by, a rush of popular enthusiasm for investing. And as people see the line go up, they become more likely to spend. 

The stockmarket is fuelling America’s economy

Hargreaves Lansdown warned clients that cryptocurrencies should not be relied upon to meet long-term financial goals. The comments come as the U.K.’s Financial Conduct Authority lifted its 2021 ban on crypto exchange-traded notes (ETNs) for retail investors.  Despite the regulatory change, the firm has remained cautious on offering regulated crypto products unlike its rivals.

Hargreaves Lansdown Warns Against Bitcoin as Asset Class Following UK Ban Lift

If you looked away from crypto markets on Friday, then you missed a record-breaking bloodbath.  Following a Friday morning threat from U.S. President Donald Trump to unleash "massive" new trade tariffs on China, crypto prices began to plunge alongside stocks, representing widespread concern from investors. And then crypto declines rapidly accelerated late in the afternoon when Trump ratcheted up his threats in a follow-up post on Truth Social. Most crypto assets were suddenly in freefall. Bitcoin had been sitting above the $121,000 mark on Friday morning, but ultimately dipped below $106,000 in the afternoon, according to CoinGecko.

Bitcoin, Ethereum, Dogecoin Down Bad Amid Record $19 Billion in Crypto Liquidations

Bitcoin prices dropped below $100,000, a five-month low, on Tuesday, part of a broader decline for the crypto market over the last month as investors appeared to pull away from riskier assets while the Federal Reserve cautiously approaches interest rate cuts. 

The price of bitcoin decreased 6.4% over the last day to around $99,780, matching levels not seen since June, when the cryptocurrency last priced under $100,000. Bitcoin (down 12.4%) has led a broader decline for crypto prices over the last seven days: Ethereum prices have dropped 20.8%, XRP fell 18%, BNB is down 19.2%, Solana has fallen 22.2% and the meme token dogecoin has cut 20.8%. 


Bitcoin Falls Below $100,000—Here’s Why Crypto Prices May Be Dropping

Yields and More maps out over $284 million in DeFi debt tied to Stream Finance, exposing complex loops across stablecoins and lending markets. On Tuesday, a detailed post by DeFi group Yields and More (YAM) flagged dozens of lending markets and vaults, including platforms Euler, Silo, Morpho and Gearbox, that held positions connected to Stream’s synthetic assets, which include xUSD, xBTC and xETH. The data highlighted the extent of the fallout. Exposure loops involving Elixir’s deUSD, Treeve’s scUSD and other assets suggested that at least $284.9 million in overall debt is owed to lenders across various markets. This excludes indirect exposure via secondary vaults and other lending strategies. 

DeFi sleuths trace $284M in loans and stablecoin risk linked to Stream Finance

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