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Story 01
Canada's largest banks are jointly developing a tokenized deposit system to enable faster, programmable payments nationwide. By taking this step, the banks aim to set new standards for efficiency and interoperability, potentially influencing global regulatory frameworks and prompting other major banks to accelerate their own tokenization strategies.
Blockchain.com and the New York Stock Exchange are working to tokenize US stocks and ETFs, pending regulatory approval, to enable digital asset trading. This collaboration offers investors more flexible access to US securities, potentially sidelining traditional brokers and shifting trading volumes toward digital platforms if regulators approve the model.
Source: The BlockRevolut has launched facial recognition payments in the UK, allowing customers to authorize transactions with a smile for added convenience and security. This feature forces competitors like PayPal and Apple Pay to enhance their biometric offerings to retain market share as biometric authentication becomes a new battleground in wallet innovation.
Source: SiftedAtum, founded by former Visa crypto lead Pete Cooling, has launched with $13.5 million in funding to build an open payments network focused on interoperability. By promoting open standards and reducing transaction costs, Atum aims to challenge incumbent payment networks and accelerate open banking adoption. Competing networks and banks must adapt quickly to avoid losing market share to Atum's open payments network.
Source: FinextraCiti has introduced a media platform that uses transaction data to help advertisers target customers more precisely, entering the commerce media space. This move leverages Citi’s data assets to create new revenue streams and could force financial institutions to rethink their data privacy strategies in digital advertising.
Source: Finextra“M-Pesa, launched in Kenya in 2003, not only enabled mobile remittances but also spurred central banks across Africa to rethink monetary policy and financial regulation.
Filed under: Payments History · The Long Memory
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