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Archive · September 2, 2026

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Story 01

Citi, Lloyds, and MUFG Launch Stablecoin Venture Targeting Institutional Cross-Border Payments

Citi, Lloyds, and MUFG have announced plans to form a joint stablecoin company focused on streamlining cross-border settlements for institutional clients. By entering the stablecoin market, these banks directly challenge established issuers such as Circle and PayPal, intensifying competition for blockchain-based settlement solutions. The initiative is expected to prompt financial regulators to examine how traditional banks manage digital asset issuance, particularly regarding capital requirements and anti-money laundering controls.

Source: Finextra
Also Worth Knowing
№02

Félix Raises $200M to Expand From Remittances Into Broader Latino Fintech Offerings

Miami-based Félix secured $200 million in Series C funding to diversify beyond remittances and offer a wider suite of financial products for Latino and immigrant communities. This capital injection positions Félix to compete with both legacy remittance giants and digital-first fintechs targeting underserved segments. The expansion could drive down fees and increase product innovation for cross-border and domestic financial services in the US-Latin corridor.

Source: Crunchbase News
№03

Visa Upgrades A2A Fraud Detection, Raising the Bar for Bank Security Standards

Visa has enhanced its account-to-account (A2A) fraud prevention technology, offering banks improved real-time detection and mitigation tools. The upgrade establishes a higher standard for fraud controls in A2A payments, prompting rival networks and processors to invest in advanced security. Banks adopting Visa’s solution may benefit from lower fraud losses and increased consumer trust in instant payment channels.

Source: Finextra
№04

Sphere Labs Enters Mexico, Intensifying Cross-Border Payment Competition

Sphere Labs is launching cross-border payment infrastructure in Mexico, targeting corridors traditionally dominated by Western Union and MoneyGram. The move introduces new technology-driven options for remittance and B2B payments, potentially lowering costs and increasing speed for Mexican businesses and consumers. Established providers may need to accelerate digital upgrades or risk losing share in a rapidly evolving market.

Source: Finextra
№05

Singapore Central Bank Proposes Stablecoin Regulation to Attract Global Fintechs

The Monetary Authority of Singapore has unveiled draft legislation to regulate stablecoins, aiming to provide legal clarity and consumer safeguards. This initiative positions Singapore as a leading jurisdiction for stablecoin innovation, likely drawing global projects seeking regulatory certainty. Competing fintech hubs may need to accelerate their own frameworks to avoid losing market share to Singapore’s regulatory leadership.

Source: Finextra
The Long Memory
“The first contactless payment card was introduced in South Korea in 1995, years before widespread adoption in Europe and North America.

Filed under: Payments History · The Long Memory

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