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Archive · April 5, 2026

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Story 01

Charles Schwab Opens Waitlist for Direct Bitcoin and Ether Trading

Charles Schwab has opened a waitlist for direct Bitcoin and Ether trading, with an initial rollout expected soon. This move brings crypto access to Schwab’s mainstream brokerage clients and intensifies competition with both fintechs and legacy brokers. Traditional brokerages must now accelerate crypto product development or risk losing digitally savvy investors as crypto trading becomes a baseline feature for retail investment platforms.

Source: The Block
Also Worth Knowing
№02

Saudi Arabia Grants First Major Payment Institution Licence to Lean Technologies

The Saudi Central Bank has awarded its inaugural Major Payment Institution licence to Lean Technologies, marking a milestone for open banking in the Kingdom. Lean’s regulatory approval sets a precedent for fintechs seeking to operate at scale in Saudi Arabia’s rapidly evolving payments sector. Early licensees gain a head start in shaping standards and capturing market share as open banking adoption accelerates.

Source: Finextra
№03

IMF Flags Tokenized Finance as Systemic Risk, Urges Central Bank Settlement

The IMF has warned that tokenized finance could amplify market crises and has urged central banks to anchor settlement systems. By advocating for central bank involvement, the IMF directly challenges DeFi platforms and signals a preference for regulated digital asset infrastructure. Central banks and policymakers may accelerate work on CBDCs and regulated tokenized settlement to address these concerns, while DeFi platforms face heightened regulatory scrutiny.

Source: The Block
№04

UK FinTechs VibePay and Smartlayer Shut Down Amid Sector Headwinds

VibePay and Smartlayer, two UK fintechs, have ceased operations, with VibePay entering liquidation after a failed acquisition. These closures highlight the difficulty of achieving profitability and securing funding for fintechs without scale or a unique value proposition. Smaller fintechs in the UK may now seek strategic partnerships or M&A to survive, while investors focus more on sustainable business models.

Source: PYMNTS
№05

Truist Partners with Plaid to Expand Open Banking Access for Customers

Truist has partnered with Plaid to enhance its open banking capabilities, giving customers broader access to their financial data and third-party services. This move strengthens Truist’s digital offering and positions it to compete with fintechs on user experience and data connectivity. Regional and super-regional US banks are likely to pursue similar partnerships as open banking becomes a core expectation for retail and business clients.

Source: Finextra
The Long Memory
“PSD2, the 2015 update to the EU’s Payment Services Directive, unexpectedly accelerated the rise of open banking by requiring banks to share customer data with licensed third parties.

Filed under: Payments History · The Long Memory

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