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Archive · May 10, 2026

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Story 01

Senate Banking Committee Schedules Vote on Major Crypto Regulation Bill

The Senate Banking Committee has officially scheduled a vote on comprehensive crypto legislation that would clarify regulatory requirements for digital assets and exchanges. If passed, the bill would establish clearer compliance standards, enabling US banks and asset managers to more confidently offer crypto-related products. This regulatory certainty could drive new institutional investment and influence how other countries approach crypto oversight.

Source: The Block
Also Worth Knowing
№02

Revolut Alumni Raise $6M for Palm-Scan Biometric Payments Startup

A group of former Revolut employees secured $6 million to launch a palm-scan payments platform, offering retailers a frictionless checkout alternative to cards and mobile wallets. By using palm biometrics for authentication, the startup aims to reduce transaction times and hardware costs compared to card terminals and facial recognition systems. Merchants and payment service providers may pilot this technology to gauge consumer acceptance and operational impact.

Source: Sifted
№03

OCC Tells US Banks to Strengthen AI-Powered Cybersecurity

The Office of the Comptroller of the Currency is urging US banks to upgrade their AI-driven cybersecurity measures, citing rising threats and the need for robust fraud prevention. Banks that proactively invest in advanced AI security tools may see reduced fraud losses and fewer regulatory issues, while those that lag could face compliance penalties and reputational risks. We expect banks to increase demand for AI security vendors and prioritize AI risk management at the executive level.

Source: PYMNTS
№04

Kraken Parent Payward Applies for OCC Trust Charter to Expand Crypto Services

Payward, the parent company of Kraken, has applied for a national OCC trust charter to establish Payward National Trust Company. If granted, Kraken would be able to offer expanded custody and trust services nationwide, potentially setting a new regulatory benchmark for US crypto firms. This could encourage other major players like Coinbase and Ripple to seek similar charters, accelerating the integration of crypto into mainstream financial infrastructure and boosting institutional participation.

Source: The Block
№05

Visa and Western Union Partner to Expand Real-Time Cross-Border Payments

Visa and Western Union have announced a partnership to enable real-time cross-border payments to eligible Visa cards and accounts in 40 countries. This collaboration aims to streamline remittances and international transfers for consumers and small businesses, reducing settlement times from days to minutes. The move could intensify competition among global money transfer providers and drive further innovation in cross-border payment solutions.

Source: Finextra
The Long Memory
“In Japan, vending machines have accepted contactless payments since the early 2000s, making the country an early adopter of cashless microtransactions in everyday life.

Filed under: Payments History · The Long Memory

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