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Revolut has begun rolling out its euro-backed stablecoin, EURR, to customers in Denmark, Poland, and Portugal. This move puts Revolut in direct competition with PayPal and Circle for digital currency adoption in Europe, while also pushing traditional banks to accelerate their own digital asset strategies. The phased launch will test regulatory responses and consumer appetite for stablecoins in the eurozone.
The UK Treasury will require the Bank of England to support payments innovation, including digital currencies and stablecoins, and to report annually to parliament. This policy shift could attract more fintech investment to the UK and accelerate the development of new payment rails. Banks and fintechs now have a clearer mandate to pursue digital currency initiatives under regulatory oversight.
Source: PYMNTSThirty-nine state bankers associations have launched the BankChain Alliance to build a blockchain network owned by the banking industry, targeting a 2027 rollout. By reducing reliance on third-party blockchain providers, banks aim to gain more control over transaction processes and data. The alliance’s progress will shape how US banks approach blockchain adoption and regulatory engagement.
Source: PYMNTSCanadian payment processor Helcim secured C$53 million in Series C funding to broaden its services for small and medium-sized businesses. The new capital will fuel product development and market expansion, intensifying competition for incumbents in the SME payments space. Incumbent processors may face margin compression as Helcim targets underserved segments with modernized solutions.
Source: FinextraOpen finance adoption is eroding the value of the 'primary account' as consumers increasingly distribute assets across multiple platforms. Banks risk losing customer stickiness unless they integrate open finance tools and partnerships to remain relevant. Banks and fintechs are responding by developing new integrations and services to retain customer engagement as regulatory frameworks evolve.
Source: PYMNTS“The first credit card transaction occurred in 1950, when Frank McNamara used a Diners Club card to pay for dinner in New York City.
Filed under: Payments History · The Long Memory
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