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Archive · July 11, 2026

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Story 01

Nubank Wins Mexican Bank License, Escalating Fintech-Bank Competition in Latin America

Nubank’s Nu Mexico has secured full banking authorization from the National Banking and Securities Commission, allowing it to operate as a regulated bank in Mexico. Nubank is putting direct pressure on incumbent banks and local fintechs by entering the market as a well-capitalized digital challenger with proven customer acquisition playbooks. Incumbent banks and fintechs are likely to respond with new product launches and richer incentives as Nubank scales deposits and lending in the region. Mexican regulators may revisit oversight frameworks as digital banking competition intensifies.

Source: PYMNTS
Also Worth Knowing
№02

Circle Secures OCC Approval for National Trust Bank, Cementing USDC’s Regulatory Status

Circle has received final approval from the OCC to launch First National Digital Currency Bank, focused on USDC reserve management and digital asset services. With this regulatory foundation, Circle is positioned to integrate USDC more deeply into mainstream payments and banking, offering federally regulated digital currency infrastructure. Banks and fintechs now face a new competitor as Circle pursues B2B payment and institutional treasury partnerships, aiming to drive USDC adoption through direct integrations and new service offerings.

Source: The Block
№03

Stablecoin Adoption Stalls as Treasury Back Offices Struggle With Integration

Corporate treasury teams are hitting roadblocks integrating stablecoins into existing finance systems, slowing mainstream adoption despite regulatory progress. Treasury leaders who successfully bridge legacy ERP and digital asset workflows are gaining a first-mover advantage in cross-border and programmable payments. Payment processors and treasury tech vendors now have a clear opportunity to build integration layers that unlock stablecoin utility for large enterprises, prompting a wave of partnerships and product launches targeting this bottleneck.

Source: PYMNTS
№04

Lendable Raises $670M to Fuel International Digital Lending Expansion

UK-based digital lender Lendable has raised $670 million through a securities sale backed by personal loans, earmarked for global expansion. Lendable will use this capital to enter new markets and compete with both fintech and incumbent lenders on speed and underwriting. Prime and near-prime borrowers in target markets will see more offers and incentives as Lendable deploys funds and explores partnerships or acquisitions, putting pressure on local lenders’ margins as digital entrants scale.

Source: Finextra
№05

Revolut Taps JP Morgan Veteran to Lead European Banking Operations

Revolut has appointed Kuba Fast, formerly of JP Morgan, to head its European banking division. Revolut is signaling its intent to deepen operational expertise and accelerate product rollout across the EU by bringing in seasoned leadership. European incumbent banks now face a challenger with both digital agility and established regulatory experience. New service launches and potential M&A activity are likely as Revolut sharpens its European strategy.

Source: Finextra
The Long Memory
“In 2023, Mexico’s fintech sector surpassed 650 active startups, making it the largest fintech ecosystem in Latin America after Brazil—despite only 37% of adults having a bank account.

Filed under: Payments History · The Long Memory

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