Crypto Keeps Knocking on Banking's Door
Hey FinTech Fanatic!
The US just got a new bank, and this one comes straight out of the crypto ecosystem: Circle.
I know this isn't a huge surprise.
If you've been following me for a while, you already know Circle received a conditional green light back in December, and that it isn't even the first crypto company to move into US banking. Anchorage Digital and BitGo got there first, to name a couple...
So now Circle has received its long-awaited final OCC approval and will operate as Circle National Trust, and this is what it actually means:
• Federally regulated custody for USDC
• Direct supervision by the OCC
• Fiduciary standards applied to digital assets
• A clearer future path for the USDC reserve
Who do you think will be the next crypto company to become a bank? Let me know in the comments!
You'll also find Maple's strongest first half on record, with record AUM, lending growth, and its new on-chain Transparency Dashboard, plus How FinTech Performed Last Week, covering the biggest stories from across the industry.
See what else is happening in FinTech. 👇 See you tomorrow!
Cheers,
#FINTECHREPORT
🚨 Maple just posted its strongest first half on record.
Here's what stands out from H1 2026:
FINTECH NEWS
🇳🇬 Nigerian FinTech Gigbanc is winding down operations, becoming the latest casualty of the funding downturn affecting early-stage startups across Africa. The company, which set out to build cross-border financial infrastructure for African freelancers, creators, entrepreneurs and businesses, confirmed the decision in a statement signed by its co-founders.
🇺🇸 Circle has received final OCC approval to establish Circle National Trust, a national trust bank. The charter enables federally regulated digital asset custody services, strengthens USDC’s infrastructure, and brings the bank under direct oversight by the U.S. Office of the Comptroller of the Currency.
PAYMENTS NEWS
🇪🇺 Mastercard has expanded its airport Fast Track network in Europe, adding Madrid and Barcelona to existing locations in Athens and Istanbul. The expansion gives eligible cardholders access to faster security lanes as part of The Mastercard Collection, which now includes more than 200 Fast Track lanes worldwide.
🇺🇸 FedNow readies cross-border and payment request pilots. Three years after its launch, it now reaches more than half of U.S. checking and savings accounts through 1,800 financial institutions. The Federal Reserve is preparing pilots for cross-border payments and requests for payment, while expanding fraud prevention and payment capabilities.
🇰🇷 South Korean police launches a probe into Kakao Pay Corp.'s transfer of 40 million of its users’ information to Chinese payment app Alipay, in what has become one of the country's most closely watched FinTech controversies. Continue reading
🇪🇺 EU parliament greenlights digital euro. The European Parliament has approved opening negotiations on the legal framework for a digital euro, paving the way for talks with EU member states. If an agreement is reached by the end of 2026, the European Central Bank aims to launch the digital currency in 2029.
🇬🇧 Starling Bank has launched two free tools for small business customers: Expense Cards and Team Access. The new features let business owners delegate spending, share account visibility with team members, and maintain control through spending limits, read-only access, and real-time notifications.
DIGITAL BANKING NEWS
🇵🇭 GoTyme Bank has surpassed 10 million users in the Philippines, nearly four years after launching. The digital bank now holds about US$861 million in deposits, with customers able to deposit and withdraw cash through thousands of Robinsons and 7-Eleven locations nationwide.
🇲🇽 Nu Mexico has received regulatory authorization to begin operations as a bank. With more than 15 million customers, the company will become Mexico’s largest digital bank after completing its transformation from a SOFIPO, with the process supervised by the country’s financial authorities.
🇬🇧 Revolut has integrated its crypto exchange, Revolut X, with AI assistants including Claude, Gemini, Cursor and OpenClaw. The feature lets users analyze markets, monitor portfolios, and place trades using natural language, while requiring approval before any order is executed.
BLOCKCHAIN/CRYPTO NEWS
🇺🇸 Bridge has launched Dollar Parking, an app that lets users trade tokenized U.S. stocks using USDT. The platform connects to MetaMask wallets, supports 64 stock tokens through Uniswap, and uses AI to optimize trade execution while enabling self-custody of digital assets.
🇰🇿 Binance Pay partners with Alatau City Bank to expand crypto payments in Kazakhstan to 5,000 POS terminals, Cointelegraph reported. The move will allow merchants across the country to accept cryptocurrency payments through Binance Pay.
🇺🇸 Polymarket has applied for a U.S. license to offer margin trading, allowing users to open prediction market positions with less upfront capital. The move follows rival Kalshi’s approval and marks another step in Polymarket’s return to the U.S. market.
🇺🇸 U.S. government digital dollar set to be banned tonight under housing law's CBDC limit. A four-year ban on a U.S. central bank digital currency is set to take effect under a housing bill approved by Congress. The measure prevents the Federal Reserve from issuing a digital dollar through 2030, despite President Donald Trump declining to sign the legislation.
🌎 Kraken is redesigning its app around AI-powered agentic trading, enabling users to monitor markets, receive investment recommendations and execute trades with AI assistance. The exchange says the new experience will keep users in control by requiring approval before every trade.
PARTNERSHIPS
🇲🇽 Openbank Mexico, Mastercard and Cinépolis partner to launch new digital credit card in the country. The launch marks the bank's first co-branded card globally and Cinépolis' first branded credit card, combining digital banking with rewards linked to the Club Cinépolis loyalty program. The offering underscores how banks, payment networks, and brands are expanding digital-first financial products with loyalty features.
🇳🇬 Xoom, a PayPal service, has partnered with Flutterwave to enable direct money transfers into Nigerian bank accounts. The collaboration combines Xoom’s global network with Flutterwave’s local payout infrastructure to support faster and more efficient cross-border remittances. Read on
🌎 BingX has launched the BingX Visa Debit Card in partnership with Wirex, allowing users to spend digital assets through Visa’s global payment network. The card supports purchases, ATM withdrawals, and mobile wallets, while offering rewards and automatic currency conversion for international transactions.
🇺🇸 Anchorage Digital has partnered with Linework to provide custody and treasury infrastructure for the FinTech’s digital asset operations. The agreement includes custody of Linework’s LNWK tokens and supports treasury management as the company prepares for a planned Nasdaq listing.
HOW FINTECH PERFORMED LAST WEEK
📈 Here’s how the biggest publicly traded FinTech companies moved last week:
DONEDEAL FUNDING NEWS
🇬🇧 UK FinTech Lendable is raising £500 million through its first public asset-backed securities deal, backed by a portfolio of unsecured personal loans. The transaction supports the company’s lending growth strategy and marks its debut in the public securitization market. Continue reading
🇲🇽 Mexican FinTech Digitt has secured a US$50 million credit facility from Victory Park Capital to expand its credit card refinancing platform. The funding will support the expansion of the company’s loan portfolio while enhancing its credit assessment, technology, and loan servicing capabilities to improve operational efficiency and scale.
🇲🇳 KakaoBank has signed a term sheet to invest in Mongolia’s M Bank, with plans to complete the deal this year. The partnership will introduce KakaoBank’s AI-powered credit scoring technology to enhance lending while supporting joint digital banking products and services, as the company expands its presence from Southeast Asia into Central Asia.
M&A
🇨🇭 Banyan Software has acquired a majority stake in WIZE, a wealth and asset management platform used by more than 120 financial institutions across 27 countries. WIZE’s management team will remain in place as the company expands its platform and AI capabilities. Read more
MOVERS AND SHAKERS
🇺🇸 Coinbase Chief Legal Officer Paul Grewal is stepping down after six years. Vice President of Legal Molly Abraham will become general counsel, while Grewal will remain an adviser and board member of Coinbase’s National Trust Company as the exchange continues expanding its business.
🇬🇧 Nous has appointed former Engine by Starling executive Michelle Stewart as its first Head of Finance. Stewart will lead the company’s financial strategy as the agentic AI platform scales its household spending and automated bill management services across the UK.
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