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Archive · March 24, 2026

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The Lead

Story 01

Revolut Reports Profit Surge and Secures UK Banking License, Signaling Maturity Shift

Revolut has reported a significant jump in profits and secured a full UK banking license, marking a pivotal moment in its evolution from fintech upstart to regulated bank. While the Financial Times highlights Revolut's profit surge, it does not explicitly call them 'record profits.' This regulatory milestone raises expectations for fintechs and traditional banks alike, especially those operating on thin margins or relying on lighter regulatory regimes. The bar for compliance and operational discipline is rising, and firms lagging in these areas may find themselves squeezed by both regulators and customers.

Source: Financial Times
Also Worth Knowing
№02

Venmo-PayPal Integration Unlocks Global P2P Payments Across 90 Markets

Venmo users can now send money directly to PayPal accounts worldwide, extending Venmo’s reach to 90 international markets. This move gives Venmo a cross-border payments edge and forces competitors to accelerate their own global P2P strategies. For operators, the integration blurs the line between domestic and international payments, raising the bar for seamless user experience and compliance in cross-border flows. Expect a new wave of innovation and pricing pressure in the P2P space.

Source: Finextra
№03

Balancer Labs Collapse After $128M Exploit Exposes DeFi Security Gaps

Balancer Labs is shutting down after suffering a $128 million exploit, with plans to restructure around a leaner economic model. This high-profile failure underscores persistent vulnerabilities in DeFi protocols and will likely trigger a wave of security upgrades and risk reassessments across the sector. Operators in DeFi and adjacent spaces must prioritize robust security and contingency planning or risk losing user trust and capital. Expect investors and partners to demand higher standards before committing capital.

Source: The Block
№04

Splitit Rolls Out Card-Linked Installments for Field Sales, Targeting Merchant Flexibility

Splitit has launched Splitit Go, enabling card-linked installment payments in face-to-face sales environments for the first time. This gives merchants new flexibility to offer installment options beyond e-commerce, potentially boosting conversion and average order value in physical retail. Competing payment providers will need to respond with similar solutions or risk losing merchant share to more adaptable platforms. Expect a rapid expansion of installment offerings into new verticals and sales channels.

Source: Finextra
№05

Circle Pushes EU to Accelerate DLT and Stablecoin Settlement Reforms

Circle is urging the EU to fast-track distributed ledger technology (DLT) reforms and expand stablecoin settlement rules, aiming to strengthen its position in the region’s digital asset ecosystem. If successful, this could accelerate stablecoin adoption and force traditional banks and payment processors to adapt to new settlement paradigms. Operators should monitor regulatory momentum closely, as early movers in compliant stablecoin infrastructure could capture outsized share in cross-border and treasury use cases.

Source: The Block
The Long Memory
“Here's a payments twist: in the early 2000s, Japan’s NTT DoCoMo launched the world’s first mobile wallet, allowing users to pay with their phones years before Apple Pay or Google Wallet existed. Yet, despite this head start, mobile payments in Japan remain less popular than cash—a reminder that technology alone doesn’t guarantee adoption.

Filed under: Payments History · The Long Memory

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