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Archive · September 8, 2026

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Story 01

DBS and Citi Complete First Weekend Tokenized Cross-Border Payment via Swift Ledger

DBS and Citi executed the first Singapore-to-U.S. dollar payment on a weekend using tokenized deposits over the Swift Digital Ledger. This milestone demonstrates that tokenized deposits can enable 24/7 cross-border settlement, bypassing traditional banking cutoffs. Global banks now have a live precedent for integrating tokenized rails into mainstream payment flows, raising the bar for speed and availability in cross-border transactions.

Source: PYMNTS
Also Worth Knowing
№02

PayTabs Acquires Amazon Payments MENA, Expanding Middle East and North Africa Payments Control

PayTabs is acquiring Amazon’s Middle East and North Africa payments operations for $100 million, consolidating its position as a payments leader in the MENA region. The deal gives PayTabs direct access to Amazon’s merchant network and infrastructure, challenging incumbents like Network International and Fawry. MENA acquirers and PSPs must now compete with a PayTabs-Amazon alliance that can offer deeper integration and scale.

Source: Finextra
№03

Mastercard and Flowcart Embed Card Payments in East Africa Social Commerce

Mastercard partnered with Kenya’s Flowcart to enable secure card payments within social and conversational commerce channels across East Africa. This move embeds payments directly into chat and social platforms, making it easier for merchants to convert sales and for consumers to transact in-app. Local PSPs and banks now face a new competitive front as global card networks deepen their reach into digital-first commerce.

Source: PYMNTS
№04

Liquid Network Attacker Returns 3,400 BTC After Security Flaw Exposed

A hacker returned 3,400 BTC to the Liquid Network after exploiting a vulnerability, though they retained nearly 600 BTC. The incident forced Liquid to accelerate security upgrades and exposed risks such as private key compromise and incomplete incident response in blockchain-based payment networks. Exchanges and custodians using Liquid must now reassess their risk controls and incident response protocols.

Source: The Block
№05

OpenReserve Secures OCC Approval for ‘Continuous’ Banking Model

OpenReserve, founded by MoneyLion alumni, received conditional approval for a national banking license from the OCC, positioning itself as a ‘continuous’ banking platform. This regulatory green light allows OpenReserve to experiment with always-on banking services, challenging both traditional banks and digital-only competitors. U.S. fintechs now have a new template for pursuing full-stack banking charters with novel service models.

Source: Banking Dive
The Long Memory
“Despite the rise of instant payments, Fedwire—launched in 1970—still processes over $4 trillion daily, underscoring the enduring role of legacy settlement rails.

Filed under: Payments History · The Long Memory

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