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Revolut is ramping up its India operations with over 400 new hires in 2024, tapping into the country’s deep fintech talent pool. This rapid expansion already accounts for a significant share of its global workforce and signals a shift in where global fintechs source operational expertise. Rivals relying on legacy hubs or slower hiring cycles are already feeling pressure to rethink their own talent strategies.
Tether has engaged KPMG for its first full financial audit, moving beyond monthly attestations to address longstanding transparency concerns around its $184 billion stablecoin. This step could set a new industry baseline for stablecoin credibility, pressuring competitors to match audit standards. Operators relying on unaudited or lightly attested stablecoins may face increased regulatory and partner scrutiny.
Source: The BlockCiti is actively engaging clients on real-time payments, agentic commerce, and stablecoin use cases, signaling a strategic push into next-generation payment rails. This positions Citi to capture early-mover advantage as corporates seek operational efficiency and programmable money. Operators slow to experiment with agentic or stablecoin flows risk ceding ground to banks that can deliver both speed and intelligence.
Source: Banking DiveVisa has launched a service enabling issuers to offer in-app subscription management, giving end users more control over recurring payments. This move could drive issuer adoption and set new consumer expectations for transparency and control. PSPs and banks without similar tooling may see increased churn as users gravitate toward platforms offering frictionless subscription oversight.
Source: FinextraMastercard is looking to sell the real-time payments business it acquired from Nets for $3.2 billion, aiming to streamline its operations. This divestiture could open the door for new entrants or existing players to scale in the real-time payments space. Operators should watch for market consolidation and shifting partnership dynamics as the asset changes hands.
Source: Finextra“Here’s a twist: Tether’s $184 billion stablecoin is now getting its first full audit—despite being the largest by market cap, it operated for years without one. In contrast, some smaller stablecoins have been fully audited from day one. Sometimes, the biggest players are the last to embrace transparency.
Filed under: Payments History · The Long Memory
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