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US Bank completed a live pilot using its own US dollar-backed stablecoin, USBDC, to streamline intrabank cross-border payments. The bank directly enters stablecoin infrastructure, raising the bar for peers still reliant on legacy rails. Other banks now need to develop or adopt digital currency solutions to stay competitive in international settlement.
MVB Financial partnered with Velocity to participate in a Visa Direct pilot enabling stablecoin-based funding and settlement for push-to-card payouts. The companies introduce stablecoin rails into mainstream payout flows, potentially lowering costs and speeding up B2B and cross-border transactions. Competing banks and fintechs may need to accelerate stablecoin integration to avoid losing high-volume payout business.
Source: PYMNTSPayPal is working with MoonPay and M0 to let developers create application-specific stablecoins backed by PYUSD. By enabling programmable money, PayPal positions itself as a foundational provider and challenges Stripe and other payment platforms to match its developer-facing stablecoin tools. Developers and merchants can now experiment with new payment and loyalty applications as regulatory frameworks evolve.
Source: FinextraBlock filed to establish a federally regulated bank focused on crypto custody, joining fintechs like Chime in pursuing national charters. With approval, Block plans to offer regulated crypto services directly, bypassing third-party banks and strengthening its Cash App ecosystem. Banks and crypto custodians now face a new competitor with regulatory ambition and mass-market reach.
Source: FinextraMastercard and Visa are supporting a World Bank initiative to expand digital payments in emerging markets using a risk-sharing model. This partnership drives infrastructure upgrades and financial inclusion for consumers and small businesses, while intensifying competition for local PSPs and banks as global networks deepen their reach.
Source: Finextra“The first commercial ACH payment in the U.S. was processed in 1972, but it took six more years before standardized rules enabled widespread business adoption.
Filed under: Payments History · The Long Memory
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