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Archive · August 24, 2026

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Story 01

Crypto Card Spending Triples as Stablecoins Gain Ground in Retail Payments

Consumers spent $1.04 billion using cryptocurrency cards in July 2026, tripling last year’s volume as dollar-backed stablecoins become a popular choice for everyday purchases. Crypto card issuers and stablecoin providers are capturing new transaction flows, while traditional card networks like Visa and Mastercard see increased competition. Retail merchants must now adapt their payment systems to accept stablecoin-backed cards as these products move into the mainstream.

Source: PYMNTS
Also Worth Knowing
№02

Stripe Buys OpenRouter for $7.5B to Deepen AI-Driven Payment Services

Stripe acquired AI spend management firm OpenRouter for $7.5 billion, integrating advanced analytics and automation into its payments platform. This acquisition positions Stripe ahead of rivals like Adyen and PayPal by embedding AI-driven spend management and fraud prevention tools directly into its core offerings. Competing payment processors now face immediate pressure to enhance their AI capabilities or risk losing enterprise clients seeking smarter automation.

Source: Banking Dive
№03

Egypt’s CIB Wins Green Light for Digital Bank, Raising Stakes for Local Incumbents

Commercial International Bank (CIB) secured preliminary approval to launch Egypt’s first digital bank, setting a precedent for major lenders in the country. The move enables fintechs and digital-first challengers to target Egypt’s large unbanked population, while legacy banks must accelerate digital transformation to defend their market share. The Central Bank’s decision signals a broader regulatory shift toward digital finance in North Africa.

Source: Finextra
№04

Helcim Raises $38M to Expand SMB Banking Platform in Canada

Helcim closed a $38 million Series C to scale its payments and banking platform for small and medium-sized businesses across Canada. With this funding, Helcim aims to compete with both incumbent banks and fintechs by bundling payments, lending, and business banking into a single solution. Canadian SMBs gain more choice, while traditional banks face new competition in a segment long underserved by digital-first offerings.

Source: PYMNTS
№05

DeFi Lender Term Finance Loses $8.5M in Governance Exploit

Term Finance, a decentralized lending protocol, lost $8.5 million after a governance exploit drained funds from its platform. The incident shakes DeFi investor confidence and highlights ongoing security risks in permissionless lending protocols. Calls for stronger governance controls and third-party audits are intensifying as regulators and users scrutinize DeFi platforms’ risk management.

Source: The Block
The Long Memory
“In 2023, more than 60% of Canadian SMBs reported using at least two different fintech platforms for daily operations, a sharp rise from just 18% in 2018.

Filed under: Payments History · The Long Memory

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