Checkout.com Goes Direct in US Acquiring
Hey FinTech Fanatic!
Checkout.com is taking more control of how payments move in the US.
The company has officially gone live with direct acquiring under its Merchant Acquirer Limited Purpose Bank (MALPB) charter in Georgia, giving it direct access to card networks and reducing its reliance on third-party intermediaries.
For merchants, the important part is what this control can unlock: stronger performance, more resilience, faster execution, and more room to build AI-powered payment optimisation into the platform.
It’s a significant step in Checkout.com’s US expansion — and another example of fintech companies investing deeper into the infrastructure underneath payments, rather than simply adding another layer on top.
Meanwhile, the infrastructure conversation is also moving on-chain. TrustLinq’s “The Stablecoin Sandwich, Explained” looks at what happens when stablecoins are used to fund fiat payments directly from self-custodial wallets — potentially removing the need for an exchange, custody handoff, or intermediate account.
Let’s get into today’s FinTech stories. 👇 See you tomorrow!
Cheers,
INSIGHTS
💡 TrustLinq: The Stablecoin Sandwich, Explained. Stablecoins can simplify cross-border payments by moving fiat → stablecoin → fiat on-chain, but the model breaks when money starts in a self-custodial wallet. TrustLinq explores crypto-funded fiat settlement, allowing stablecoin holders to pay third parties directly into their bank accounts without an exchange, custody handoff, or intermediate account — potentially becoming increasingly important as more wealth and payments move on-chain. Read the full article here
FINTECH NEWS
🇺🇸 Plaid powers Meta's new AI agent Muse with financial account connections, letting U.S. users link balances, transactions, and investments. The integration delivers personalized financial guidance through everyday conversations.
🇦🇺 Airwallex September updates: T:0 automates bookkeeping and builds custom reports from real-time financials. The September update also adds Affirm as a checkout option for U.S. shoppers and new features across invoicing and card spend management.
🇺🇸 IXOPAY rolls out an Agentic Suite for merchants preparing for agentic commerce, covering protocol-agnostic connectivity, token-based transaction context, and a governed MCP Server. The suite includes Payment Agent, Universal Tokens, and an MCP Server that gives approved AI assistants secure access to payment and tokenization capabilities without exposing credentials or expanding existing permissions.
🇨🇦 Neo Financial is cutting 102 positions, amounting to about 10% of its workforce. The Calgary-based FinTech confirmed the layoffs as it restructures operations.
🇺🇸 Stripe powers Meta's Muse AI agent with Link, enabling it to shop across the internet on behalf of U.S. consumers. Muse can check out at over 1 million Link merchants or use a single-use virtual card for other businesses.
PAYMENTS NEWS
🇺🇸 Checkout.com goes live with US direct acquiring, launching operations under its MALPB charter in Georgia. The charter gives the company direct access to card networks and greater control across the payment lifecycle.
🇬🇭 dLocal receives Enhanced Payment Service Provider licence from the Bank of Ghana, enabling direct local operations. The licence allows dLocal to connect directly to mobile money networks and bank accounts, collect payments locally, onboard merchants, and process inbound remittances without routing through intermediaries.
🇵🇱 First pilot BLIK transaction completed independently by an AI agent, marking a new milestone for autonomous payments. The agent monitored product availability, made a purchase, and paid PLN 19.99 using BLIK, all based on prior user instructions and banking app approval. Juo enabled the AI agent chat while PayU processed the payment.
🇪🇺 ECB and Brazil explore a cross-border link between TIPS and Pix, testing interoperability between the two instant payment systems. The initiative aims to enable faster and cheaper cross-border transfers between Europe and Brazil by connecting their real-time payment infrastructures.
🇸🇬 Visa unveils its Singapore Security Roadmap 2026 and Beyond, outlining six strategic priorities for the digital payments ecosystem. The roadmap covers cybersecurity, authentication, tokenisation, and eCommerce checkout improvements for the AI era.
🇮🇳 Adyen plans to expand its India operations, identifying the market as a long-term growth opportunity. Its local workforce has grown tenfold since 2023 to 120 employees. The fintech is also adapting its offering to India’s UPI and data-localisation requirements.
🇸🇬 Gemini secures an MPI licence from the Monetary Authority of Singapore, covering cross-border money transfers and digital payment token services. The licence allows Gemini to expand crypto and payments operations in Singapore.
🇪🇺 HiPay becomes a principal member of the European Payments Initiative, strengthening its multi-local expertise for merchants. The French FinTech will integrate Wero, EPI's pan-European payment method, building on its existing A2A and wallet payment deployments across Portugal, Italy, Belgium, and Spain. Read more
🇮🇳 Paytm bets on workplace AI agents in a pivot beyond payments, launching a new service called Paytm Intelligence (Pi). Pi deploys AI agents across sales, customer service, and operations to target enterprise customers seeking automated workloads.
🇮🇳 BharatPe launches Agentic AI and Credit Coach to support its merchant network. The tools aim to provide smarter financial guidance and merchant assistance. The products were unveiled at Global Fintech Fest 2026.
🇮🇳 PayGlocal launches Flash, an express checkout solution for cross-border commerce. Customers can reuse verified details across participating merchants. The product aims to make international payments faster and easier.
DIGITAL BANKING NEWS
🇺🇸 Block applies to establish Builders Bank & Trust, a national trust bank focused on digital assets. The proposed bank would provide custody and fiduciary services for bitcoin and stablecoins and would operate without deposits or lending activities.
🇬🇧 Revolut is targeting FTSE 250 companies as it expands its business banking offering. The move would take the FinTech further into larger corporate accounts. It marks a push to compete more directly with traditional UK banks.
BLOCKCHAIN/CRYPTO NEWS
🇺🇸 Consensys spins off its flagship MetaMask wallet into an independent entity, with founder Joe Lubin serving as CEO. The remaining institutional protocols and Ethereum software will operate under the legacy Consensys name, led by longtime executive Mike Kriak. The split reflects MetaMask's faster value growth compared to the rest of the business.
🇺🇸 Broadridge launches DLX, an end-to-end digital asset infrastructure platform for tokenized markets. DLX connects to the DTCC Tokenization Service and enables institutions to operate across on-chain and off-chain activity.
🌎 Bybit launches FX Perpetual Contracts, debuting with EUR/USD, GBP/USD, and USD/JPY pairs settled in USDT. The contracts track spot exchange rates without expiry, giving traders continuous FX exposure using crypto collateral.
STABLECOINS NEWS
🇳🇱 MoonPay obtains an Electronic Money Institution licence from the Dutch Central Bank, enabling custodial payment flows and stablecoin issuance. MoonPay becomes the first Netherlands-based company to combine MiCA CASP authorisation, EMI licence, and open-loop stablecoin capabilities.
🇺🇸 U.S. Bank completes a live cross-border payment using its USBDC stablecoin on the Stellar blockchain. The Minneapolis-based lender is exploring USBDC for cross-border treasury operations, liquidity management, and collateral, with no commercial rollout timeline announced.
🇺🇸 Modern Treasury launches non-custodial stablecoin wallets, combining on-chain assets with its existing fiat infrastructure. The wallets, built in partnership with Turnkey, let platforms offer embedded wallet experiences in the U.S. and over 90 countries through a single API alongside Global USD Accounts and payment orchestration.
🌍 Tether and Fasanara launch a $400 million fund for stablecoin-enabled private credit, targeting institutional investors. The fund combines Tether's stablecoin infrastructure with Fasanara's credit expertise to channel capital into private lending markets.
🇺🇸 PayPal expands stablecoin rails with launch of custom token issuance platform, dubbed PYUSDx, built with M0 and MoonPay. The platform lets any business issue a custom stablecoin backed by PYUSD, going live with tokens from Saturn, Concrete, and Cap, which bring over $100 million in processed volume.
🇨🇭 Avolta launches a direct wallet-to-wallet stablecoin payments pilot at its Zurich Airport duty free store. From September 2 to 25, travelers can pay via QR code with transactions settled directly on blockchain without card networks or intermediary payment providers.
PARTNERSHIPS
🌍 Mastercard and Backbase partner to move agentic banking into production. The collaboration brings AI-driven banking solutions to financial institutions globally. Keep reading
🌎 Mastercard and World Bank Group launch a $500 million global risk facility to expand financial access in emerging markets. The settlement exposure facility, built with IFC, aims to help banks and fintechs connect to the Mastercard network with reduced collateral requirements, with an initial focus on Europe and Latin America.
🇦🇪 noon payments enables Jaywan acceptance through Mastercard Gateway, expanding the UAE's domestic card scheme across digital commerce. The capability is delivered via Mastercard Merchant Cloud, letting merchants support Jaywan alongside international payment methods through a single scalable gateway.
🇺🇸 Klarna is now available in HubSpot's new checkout experience for merchants in the U.S. and Canada. Qualified merchants using HubSpot payments or Stripe can offer Klarna's full suite of payment options, including pay in full, pay in four installments, and financing, to HubSpot's 300,000+ customer base.
🇺🇸 BVNK and Marqeta partner to power stablecoin card infrastructure, enabling crypto-native and traditional companies to embed USD stablecoins into wallets and cards. The integration unlocks 24/7 settlement capabilities alongside traditional fiat options, addressing the 77% of crypto users who would open a stablecoin wallet through their primary bank or FinTech app.
🇺🇸 ION partners with Coinbase to support Kalshi's event contracts, using its XTP platform for real-time clearing and settlement. The system processed its first one million trades over Super Bowl weekend and supports onboarding tens of thousands of accounts per day with fully automated 24/7 processing.
🌍 TerraPay connects its wallet interoperability network Xend to Alipay+, enabling cross-border QR payments for digital wallets. In the initial phase, 15 African wallets gain access to over 150 million merchants in Alipay+'s global ecosystem.
🇮🇪 Bank of Ireland agrees a new strategic partnership with Stripe, expanding an existing relationship to accelerate payments innovation and AI integration. Stripe's technology already underpins Davy's payments reconciliation, processing over €2 billion since 2021.
🇬🇧 Sage Capital Management selects OpenPayd to expand fiat access for digital-asset clients. The partnership supports USD, EUR and GBP payments across major payment rails and will help institutional clients move between fiat and digital assets.
🇵🇰 easypaisa and KTrade partner to enable instant PSX account opening via the easypaisa app, removing traditional barriers to stock market investing. The launch set the highest single-day investment account onboarding volume in PSX history.
🇪🇺 FinXP partners with Thredd to strengthen multi-region card issuing capabilities. The collaboration aims to expand FinXP's payment solutions across multiple markets. Read more
🇮🇳 Amazon Pay and Kotak Mahindra Bank announce a co-branded credit card designed for sole proprietors on Amazon Business. The card offers cashback rewards and an extended interest-free credit period for small business purchases.
🇮🇳 PhonePe and Visa launch three new cardless payment solutions, including Tap to Pay, Cross Border Scan to Pay, and Smart Accept. PhonePe becomes the first Indian app to offer Visa Cross Border Scan to Pay across 14 international markets.
🇬🇧 MADFIN partners with Tribe Payments for processing and 3D Secure capabilities. Tribe will provide transaction processing, fraud prevention and scheme compliance. The partnership supports MADFIN’s expansion as a card acquirer.
🇱🇺 Investre partners with 21X to bring tokenized funds to a regulated exchange. The partnership enables on-chain trading and settlement of tokenized funds. The model aims to give funds greater intraday liquidity.
DONEDEAL FUNDING NEWS
🇺🇸 Ramp is reportedly raising $1B at a $60B valuation, up sharply from its previous $44B valuation. The funding would reportedly be primarily new capital. Ramp has raised around $3B in equity to date.
🇺🇸 Latitude raises $35 million in a Series A to scale its stablecoin-to-local-payments infrastructure. Oak HC/FT led the round with participation from NEA, Coinbase, and Lightspeed Faction, following an earlier $8 million seed round. The company helps neobanks, payroll platforms, and marketplaces convert stablecoins into local currency across emerging markets.
🇲🇽 Kapital raises $125 million in new financing from Tru Arrow Partners and Fasanara Capital, to accelerate growth across Mexico and the United States. The AI-powered B2B financial institution, valued at over $1.3 billion, reported 220% YoY loan portfolio growth and $50 million in net income in H1 2026. Cervin Ventures, Niya Partners, and Overlook Capital also participated in the round.
🇮🇪 ZeroRisk raises $10 million in Series A funding to scale its merchant cybersecurity platform. The round, led by MiddleGame Ventures, will support global expansion and deployment across major payment providers.
M&A
🇺🇸 Chime agrees to acquire Stride Bank for $590M, taking full ownership of its banking partner. The deal is projected to generate over $100M in annual net synergies. The transaction is expected to close in H1 2027, subject to approval.
🇹🇭 Webull completes its acquisition of Pi Securities in Thailand, acquiring roughly 99% of the equity for approximately $100 million. The company targets THB 200 billion in AUM as it enters its next growth phase.
🇳🇬 CreditChek acquires Ugandan core banking startup Algosys, marking its first expansion into East Africa. Algosys serves 22 financial institutions in Uganda and has facilitated over 10,000 SACCO loans. CreditChek plans to integrate its credit assessment infrastructure with Algosys's lending and core banking platform.
MOVERS AND SHAKERS
🇧🇷 SumUp confirms Mariana Lázaro as CEO in Brazil, formalizing her role after serving as interim CEO. Lázaro joined SumUp in 2019 and previously served as CFO for Brazil and the Americas.
🇲🇽 BBVA names Raimundo Sala as new CEO of Openpay for Latin America, aiming to accelerate its omnichannel payments strategy. Sala brings over 20 years of experience at firms including PayPal, PagoNxt/Getnet, and EVO Payments.
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