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Archive · September 26, 2026

September 26, 2026.
Five payments stories that matter.

The 5-minute briefing for payments professionals who need to know what happened, what it means, and what to do about it — before their 9am.

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The Lead

Story 01

Bitget Halts Withdrawals After $387.5 Million Hack Linked to North Korea

Crypto exchange Bitget suffered a $387.5 million theft after North Korean hackers infiltrated its systems. Bitget froze customer withdrawals immediately, cutting off user access and undermining trust in its security. Competing exchanges with stronger security may attract users leaving Bitget, while regulators increase scrutiny of crypto platforms. Bitget and its peers are now racing to upgrade security and improve transparency to retain both institutional and retail clients.

Source: Finextra
Also Worth Knowing
№02

IBM Connects Digital Asset Platform to Swift Shared Ledger for Blockchain Interoperability

IBM integrated its digital asset platform with Swift’s shared ledger, enabling direct blockchain interoperability for financial institutions. IBM clients and Swift users now gain new options for digital asset settlement and cross-network transactions. Competing blockchain service providers must now match IBM’s integration reach. Major banks such as Citi and Santander, along with PSPs like Worldline, are likely to prioritize platforms offering direct Swift connectivity to streamline global payments.

Source: Finextra
№03

Federal Reserve Proposes Redemption and Capital Rules for Stablecoin Issuers

The Federal Reserve released draft rules requiring stablecoin issuers to meet strict redemption and capital standards. Leading stablecoin firms and their banking partners now face higher compliance costs and must quickly adapt operations to meet new requirements. Smaller issuers may struggle to keep pace, risking market exit or acquisition. Banks and fintechs considering stablecoin adoption must evaluate the regulatory timeline and prepare for increased due diligence.

Source: Banking Dive
№04

US Prosecutors Seize Capstone Bank Accounts, Escalating Pressure on Tether and Bitfinex

US authorities seized bank accounts belonging to Capstone, a payments firm linked to Tether and Bitfinex, as part of ongoing regulatory investigations. This seizure disrupts payment flows for Tether and Bitfinex users and signals intensifying enforcement against stablecoin intermediaries. Crypto-linked firms now face immediate banking risk and may need to rapidly seek alternative banking partners or strengthen compliance to avoid similar disruptions.

Source: Finextra
№05

Citi and HSBC Lead $16M Series A for Payment Intelligence Startup IPID

IPID, a payment intelligence provider, raised $16 million in Series A funding led by Citi and HSBC. With this investment, IPID plans to accelerate product development and expand its reach among global banks and PSPs. Established payment intelligence vendors now face a challenger with significant backing from major financial institutions. Banks and fintechs can expect a broader range of advanced risk and routing tools as IPID scales up its offerings.

Source: Finextra
The Long Memory
“The first magnetic stripe payment card was introduced by IBM in 1969, revolutionizing how banks and merchants processed transactions worldwide.

Filed under: Payments History · The Long Memory

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