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Archive · March 23, 2026

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The Lead

Story 01

Singapore’s MAS Launches AI Risk Toolkit, Raising Global Compliance Bar

The Monetary Authority of Singapore (MAS) released a comprehensive toolkit to help financial institutions manage AI-related risks, emphasizing operational resilience and regulatory compliance. This move sets a new benchmark for AI governance in finance, likely influencing global standards as AI adoption accelerates. Operators integrating AI into payments and risk workflows now face higher expectations for transparency and controls. Teams lagging on AI risk management will find themselves outpaced as regulators and partners demand robust frameworks.

Source: Finextra
Also Worth Knowing
№02

KAST Raises $80M to Challenge Stablecoin Leaders, Fueling Competitive Pressure

Stablecoin platform KAST secured $80 million in Series A funding, co-led by QED Investors and Left Lane Capital, to expand its global footprint. This capital injection positions KAST to compete directly with incumbents like Circle and Tether, intensifying the race for stablecoin integration across financial institutions. For operators, this means a rapidly shifting vendor landscape: new entrants like KAST are likely to offer more aggressive pricing, faster onboarding, and differentiated compliance features to win deals. Incumbents may be forced to accelerate product updates or risk losing share, while smaller or slower-moving platforms could be squeezed out entirely.

Source: Finextra
№03

Resolv’s USR Stablecoin Depeg Exposes Security Gaps, Triggers $25M Loss

Resolv’s USR stablecoin lost its peg after an attacker minted 80 million unbacked tokens, extracting roughly $25 million. This breach highlights persistent vulnerabilities in stablecoin protocols and raises the stakes for operators relying on third-party digital assets. Regulatory scrutiny and customer due diligence on stablecoin security are set to intensify. Payment teams must prioritize transparency and robust controls or risk reputational and financial fallout.

Source: The Block
№04

Truist Partners with Plaid to Expand Open Banking, Raising Competitive Stakes

Truist has partnered with Plaid to enhance its open banking offerings, giving customers greater access to their financial data and enabling new fintech integrations. This move pressures other banks to accelerate open banking strategies or risk losing developer and customer mindshare. For operators, the bar for API quality and data portability just moved higher. Expect a wave of competitive upgrades as open banking becomes table stakes in the U.S. market.

Source: Finextra
№05

Fidelity Pushes SEC for Clearer Crypto Rules, Signaling Institutional Demand

Fidelity has urged the SEC to clarify rules for broker-dealers handling crypto assets, focusing on custody and trading requirements. This public call underscores growing institutional appetite for crypto and the operational friction caused by regulatory ambiguity. Operators serving institutional clients should anticipate new compliance requirements and prepare for a wave of regulated crypto products. The winners will be those who can pivot quickly as the regulatory landscape evolves.

Source: The Block
The Long Memory
“Here’s a twist: In 2015, when the European Union introduced PSD2 to force banks to open up customer data to third-party providers, many predicted banks would lose their grip on payments. But several major banks actually used the regulation as a springboard to launch their own fintech products, turning a compliance headache into a competitive advantage.

Filed under: Payments History · The Long Memory

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