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Visa and Mastercard have agreed to a $30 billion settlement with U.S. merchants, capping a long-running antitrust lawsuit over credit card swipe fees. The deal will lower interchange rates for five years and allow merchants to steer customers toward cheaper payment methods. Retailers and payment processors will need to adjust pricing strategies as the new rules reshape transaction economics.
Ripple is upgrading the XRP Ledger to be quantum-ready, aiming to preempt future threats from quantum computing and outpace blockchains like Ethereum on security. This initiative appeals to banks and financial institutions seeking long-term resilience for digital asset infrastructure. Other blockchain networks are likely to accelerate quantum-safe protocols as institutional adoption hinges on credible security guarantees.
Source: The BlockJSCC, Mizuho, and Nomura have launched a proof-of-concept to manage Japanese government bonds on a blockchain network. If successful, this could make Japan the first major market to settle sovereign debt on-chain, setting a precedent for global securities infrastructure. International banks and custodians will need to adapt to blockchain-based workflows as regulatory and operational standards evolve.
Source: The BlockCollide Capital has raised $95 million to invest in early-stage fintech and future-of-work startups, targeting founders building new infrastructure and financial tools. This influx of capital will fuel the next wave of challenger fintechs, intensifying competition for incumbents and established neobanks. PSPs and banks should expect a surge in API-first, AI-native entrants targeting underserved verticals and operational pain points.
Source: TechCrunchArbitrum froze $71 million in ETH following a major exploit involving Kelp DAO, pending further governance review. The incident exposes persistent vulnerabilities in DeFi protocols, undermining user confidence and prompting calls for stricter security audits. DeFi platforms and custodians will need to implement more robust risk controls to address regulatory scrutiny and prevent capital flight.
Source: The Block“In 2023, the average global remittance cost was 6.5%, but sending money within Sub-Saharan Africa often exceeded 8%, the highest regional average worldwide.
Filed under: Payments History · The Long Memory
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