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Archive · May 31, 2026

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Story 01

US Faster Payments Council and ASC X9 Launch Standards Committee to Unblock Adoption

The US Faster Payments Council and ASC X9 formed a Joint Standards Steering Committee to tackle standards-related barriers that slow faster payments rollout. US payment processors and banks could see clearer implementation paths and reduced operational friction, making FedNow and RTP integration less costly and more predictable. New technical guidelines and potential regulatory alignment may emerge in the coming months.

Source: Finextra
Also Worth Knowing
№02

Scotiabank Buys MapleMark Bank to Expand US Presence and Offer FDIC Coverage

Scotiabank acquired Dallas-based MapleMark Bank, gaining a US foothold and the ability to offer FDIC-insured accounts to clients. This move strengthens Scotiabank’s North American strategy and intensifies competition for regional US banks as more international banks, especially from Canada and Latin America, seek to enter or expand in the US market through targeted acquisitions.

Source: Banking Dive
№03

US Treasury, BNY, and Robinhood Launch Investment App for Children’s Accounts

The US Treasury launched the Trump Accounts app, enabling parents to invest for their children with support from BNY and Robinhood. This initiative introduces new competition in the investment app sector and targets early financial literacy for families. Incumbent brokerages and neobanks may respond with their own youth-focused offerings or partnerships, accelerating the trend toward embedded investing in everyday financial apps.

Source: Finextra
№04

Stablecoin Settlement Advances, But Off-Chain Integration Remains a Bottleneck

Stablecoin settlement is gaining traction for institutional payments, but banks and fintechs piloting stablecoin payouts face technical and regulatory hurdles integrating with legacy banking rails. Without investment in bridging infrastructure, these firms risk fragmented operations and missed opportunities as stablecoin adoption expands beyond crypto-native use cases. Regulatory scrutiny is likely to intensify as integration challenges persist.

Source: PYMNTS
№05

JPMorganChase CEO Jamie Dimon Opposes Clarity Act, Calls for Bank-Like Crypto Regulation

Jamie Dimon pledged to fight the Clarity Act, arguing that crypto companies should be regulated to the same standards as banks. This stance puts JPMorganChase at odds with crypto firms seeking lighter oversight and could shape the direction of US regulatory policy. Crypto platforms may need to adapt to higher compliance costs or structural changes if Dimon's position gains traction in Congress.

Source: PYMNTS
The Long Memory
“M-Pesa, the first large-scale mobile payment system, launched in Kenya in 2007 and quickly surpassed traditional banks in transaction volume within its first year.

Filed under: Payments History · The Long Memory

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