The 5-minute briefing for payments professionals who need to know what happened, what it means, and what to do about it — before their 9am.
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Story 01
The CFTC has revised rules to permit national trust banks to issue stablecoins, marking a significant regulatory shift that could level the playing field between traditional banks and fintechs. This change may accelerate stablecoin adoption and integration into mainstream financial services.
Mastercard has introduced stricter regulations for BIN sponsors that support fintech card issuers to ensure compliance and mitigate risks. This move affects fintech companies relying on these sponsors and may lead to increased operational costs, benefiting larger, compliant players in the market.
Source: PYMNTSPayments orchestration is evolving into a strategic profit center, impacting revenue and transaction speed for merchants and payment service providers. Companies optimizing this area will gain a competitive edge, potentially leading to increased investment and M&A activity.
Source: PYMNTSCrypto exchange Gemini is exiting the UK, EU, and Australia, laying off a quarter of its workforce due to a global crypto market downturn. This exit may allow competitors to capture Gemini's market share in these regions, strengthening their positions.
Source: FinextraRevolut plans to invest $400 million in its Australian operations over the next five years, following significant customer growth. This investment could disrupt the Australian market, challenging traditional banks and fintechs with innovative services.
Source: Finextra“Did you know that the first credit card was made of cardboard? Diners Club introduced it in 1950 after founder Frank McNamara forgot his wallet at a restaurant, revolutionizing the way consumers approached payments.
Filed under: Payments History · The Long Memory
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