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Archive · September 4, 2026

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The Lead

Story 01

Revolut Receives Conditional OCC Approval, Moves Closer to US National Bank Status

Revolut has received conditional approval from the US Office of the Comptroller of the Currency to form a national bank, pending satisfaction of final requirements. This step enables Revolut to pursue offering insured deposits and lending in the US, positioning it to compete directly with established US banks and neobanks. Incumbent banks face a new digital-first rival with global reach as Revolut works to meet OCC conditions.

Source: Finextra
Also Worth Knowing
№02

Bottomline and Chainlink Connect 600 Banks to Blockchain Settlement via Swift

Bottomline has partnered with Chainlink to enable over 600 banks to access blockchain-based cross-border settlement through integration with the Swift network. Participating banks can now leverage blockchain efficiencies while maintaining their existing Swift infrastructure. Competing payment networks must respond as banks gain new options for faster, lower-cost settlement using blockchain rails.

Source: PYMNTS
№03

ACI Worldwide Acquires Cranium to Deliver Microservices Card Switching

ACI Worldwide will acquire Cranium Ventures to add microservices-based card switching to its processing platform, allowing banks and fintechs to adopt more modular and scalable solutions. Card processors relying on legacy systems may lose clients to ACI if they cannot match the flexibility and speed of microservices architecture, shifting competitive dynamics in the card processing market.

Source: PYMNTS
№04

OpenPayd Secures 43 US Money Transmitter Licenses, Expanding Regulatory Reach

OpenPayd has obtained 43 money transmitter licenses across the US, expanding its ability to offer embedded finance and payments services nationwide. This regulatory coverage enables OpenPayd to attract fintechs and platforms seeking compliant US payment infrastructure. Competing infrastructure providers must now broaden their own licensing or risk losing clients to OpenPayd’s expanded reach.

Source: Finextra
№05

Citi Executes Live Payments on Swift’s Blockchain-Based Ledger

Citi has processed live transactions using Swift’s blockchain-based ledger, demonstrating production-level adoption of blockchain for cross-currency payments. This move signals that major banks are beginning to use blockchain for real-world settlement, offering faster and more cost-effective alternatives to traditional payment systems. Other global banks may accelerate blockchain adoption as these capabilities mature.

Source: Finextra
The Long Memory
“In 2023, the number of US banks piloting or launching blockchain-based payment solutions doubled compared to the previous year, reflecting rapid institutional adoption.

Filed under: Payments History · The Long Memory

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