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Archive · March 5, 2026

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Story 01

Kraken Becomes First Crypto Firm to Get Fed Master Account

Kraken Financial has achieved a significant milestone by becoming the first digital asset bank to receive a Federal Reserve master account, allowing it direct access to the Fed's payment infrastructure. This development could empower other crypto firms to seek similar access, potentially disrupting traditional banking models and increasing competition. Expect more crypto firms to pursue Fed master accounts, potentially leading to regulatory scrutiny and traditional banks lobbying for restrictions.

Source: Finextra
Also Worth Knowing
№02

Nexi and Google Cloud Partner to Drive Agentic Payments in Europe

Nexi has formed a partnership with Google Cloud to develop infrastructure for agentic payments in Europe, aiming to support autonomous transactions. This collaboration could challenge traditional payment models and enhance transaction efficiency, benefiting early adopters of agentic payments. Expect increased investment in agentic payment infrastructure and potential regulatory scrutiny of autonomous transaction models.

Source: Finextra
№03

Citi Pushes Client Co-Creation in E-Commerce

Citi is collaborating with fintechs to co-create e-commerce solutions that integrate agentic AI and digital assets. This strategy could enhance Citi's competitive position by leveraging fintech innovation and expanding its e-commerce footprint. Expect more banks to adopt similar co-creation strategies, fostering fintech partnerships and innovation in digital commerce.

Source: Banking Dive
№04

Capital One Shifts to Discover Network, Ignites Competition

Capital One has begun originating some credit card accounts on the Discover Network, following its acquisition of the network. This shift could increase competition in the credit card space, challenging Visa and Mastercard's dominance. Expect strategic responses from competing networks and potential shifts in consumer loyalty and card preferences.

Source: PYMNTS
№05

Swedish Central Bank Urges Cash Hoarding Amid Payment Disruption Fears

The Swedish central bank has advised citizens to keep cash reserves due to concerns over potential disruptions to electronic payment systems. This advisory could undermine confidence in digital payments and challenge digital-first payment strategies. Expect increased focus on enhancing payment infrastructure resilience and potential regulatory mandates for backup systems.

Source: Finextra
The Long Memory
“Did you know that the term 'fintech' was first coined in the 1980s but gained widespread popularity in the 21st century, particularly after the 2008 financial crisis, when innovative technologies began transforming traditional financial services at an unprecedented rate?

Filed under: Payments History · The Long Memory

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