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Archive · July 28, 2026

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Story 01

Circle Acquires IBM’s Blockchain Patent Portfolio, Becomes Leading US Holder

Circle has acquired nearly 1,000 blockchain-related patents from IBM, reportedly making it the largest blockchain patent holder in the US. This acquisition gives Circle significant leverage over blockchain technology development and licensing, allowing it to influence how banks and fintechs implement on-chain payment solutions. Competitors may need to negotiate licensing agreements or adjust their technology strategies to avoid infringement, potentially increasing costs or prompting new partnerships.

Source: Finextra
Also Worth Knowing
№02

Upstart Receives Conditional OCC Approval for National Bank Charter

Upstart has secured conditional approval from the OCC to launch Upstart Bank, N.A., moving closer to operating as a nationally chartered bank. This step enables Upstart to expand into deposits and payments, directly competing with established banks. The decision signals regulatory openness to fintechs with strong compliance, and may prompt other fintechs to pursue charters as the path becomes clearer.

Source: PYMNTS
№03

HSBC Opens Global AI Centre of Excellence in Singapore

HSBC is launching a global AI centre of excellence in Singapore, hiring around 100 specialists under its new chief AI officer. The centre aims to enhance HSBC’s digital banking and risk management, positioning the bank to compete with both fintechs and global peers on AI-driven services. This move may accelerate AI investment and talent acquisition among other major banks.

Source: Finextra
№04

BitMEX to Close After 11 Years, Shifting Crypto Exchange Dynamics

BitMEX, one of the earliest crypto derivatives exchanges, will shut down following a strategic review by parent HDR Global Trading. The exit removes a major player from the crypto trading ecosystem, likely redistributing liquidity and market share to exchanges like Binance, Coinbase, and Bybit. Users must migrate funds, and remaining exchanges could see increased regulatory attention as the sector consolidates.

Source: Banking Dive
№05

Kraken Parent Payward Acquires Magic Labs’ Embedded Wallet Business

Payward, the parent company of Kraken, has acquired Magic Labs’ embedded wallet business and rebranded it as Newton Labs to focus on onchain finance infrastructure. This move strengthens Payward’s position in embedded finance and expands its wallet-as-a-service offering for fintechs and merchants. The acquisition could drive broader adoption of crypto wallets in mainstream payments and B2B transactions, intensifying competition among enterprise wallet providers.

Source: The Block
The Long Memory
“The first magnetic stripe payment card was introduced by IBM in 1969, revolutionizing how banks and merchants processed transactions long before digital wallets emerged.

Filed under: Payments History · The Long Memory

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