Goldman & BNY Mellon Tokenize the $7.1T Money Market Industry
Hey FinTech Fanatic!
Two of Wall Street’s biggest names, Goldman Sachs and BNY Mellon, took a major step in rewriting how institutional money moves.
They’ve launched a platform allowing institutional clients of BNY to buy tokenized money market funds, recorded on Goldman’s blockchain infrastructure.
The big idea? Turning the traditional cash-equivalent asset class into programmable money.
With support from BlackRock, Fidelity, and Federated Hermes, this could lay the rails for an 'always-on' cash ecosystem with faster settlement, 24/7 trading, and instant use of tokenized funds as collateral.
More on this and other FinTech updates below👇
Don’t miss a word. The best is yet to come. I'll be back again with more tomorrow!
Cheers,
P.S. Follow me on Threads for daily scoops!
INSIGHTS
🌍 African FinTechs raised $157M in Q2 2025, as early-stage startups' funding declines. According to the report, the total is an improvement from the $118 million raised in the previous quarter, representing a 33% increase.
🇺🇸 How Tala's new AI model unlocks true financial access. Tala is addressing this with the launch of its newest credit model, InSight, which leverages causal inference to personalize credit decisions. Unlike traditional models that rely heavily on credit scores, InSight uses advanced, patent-pending causal methods to determine how changes in a customer's credit limit can directly influence their success.
FINTECH NEWS
🇪🇸 eToro launches crypto and index futures in Spain with lower minimums. The NASDAQ-listed company said it's offering spot-quoted futures contracts on six markets: the S&P 500, Nasdaq-100, Russell 2000, Dow Jones Industrial Average, plus Bitcoin and Ethereum.
🇺🇸 Wise faces fresh scrutiny from proxy adviser over move to US. While Glass Lewis continues to support the company’s overall proposal, it is concerned that the vote on July 28 to approve the plan also requires shareholders to approve extending the dual-class shareholder structure, according to the advisory firm.
🇺🇸 Fiserv stock tumbles as outlook softens despite deal with TD. The company reported quarterly revenue growth of 8% year-over-year to $5.52 billion, beating the analyst consensus estimate of $5.20 billion. Growth was 10% in the Merchant Solutions segment and 7% in the Financial Solutions segment.
PAYMENTS NEWS
🇺🇸 How Capchase powers KYB globally with Taktile. With Capchase, companies can extend payment terms to their customers without waiting to get the full upfront payment themselves. By bridging the gap between buyer flexibility and a vendor maximizing their working capital, Capchase facilitates faster sales, more revenue, and a smoother customer experience.
🌍 Why real-time AML compliance is now essential for instant payments. According to the 2024 Prime Time for Real-Time report by ACI Worldwide, over 266 billion real-time transactions were processed globally in 2023. That’s a 63% increase from the previous year.
🇵🇹 Ifthenpay had revenue of 3.9 million euros in the first half of the year. The Portuguese FinTech's payment volume reached €834 million, and its client portfolio now includes around 30,000 companies. In this context, business volume increased 17% year-on-year.
🇺🇸 Introducing PayPal World: a global platform connecting payment systems and digital wallets, starting with interoperability to PayPal and Venmo. Consumers will enjoy benefits including access to shop at millions more businesses, online, in-store, and with AI agents, pay international businesses using their domestic payment system or wallet of choice, and local currency.
🇺🇸 SquareWorks Consulting launches international payments, simplifying end-to-end payments for global accounts payable teams. Benefits include real-time exchange rates and payment tracking, SWIFT wire payments to 200+ countries, and built-in compliance with country-specific vendor onboarding fields.
🇬🇧 LHV Bank joins RT1 to boost instant euro payments. This milestone marks a significant advance in the Bank’s commitment to driving digital transformation and delivering faster, more efficient cross-border payment solutions. By integrating directly with the RT1 SCT Inst scheme, LHV Bank removes the traditional limitations associated with indirect access.
🇳🇱 Mondu enhances its B2B payments suite with new ‘Pay Now’ product. Pay Now allows buyers to pay directly from their bank accounts, providing a secure and streamlined checkout experience. It enables merchants to serve all buyers, whether they are eligible for deferred payments or not.
REGTECH NEWS
🇲🇾 Sumsub passes Malaysia e-KYC assessment and meets BNM standards. BNM requires e-KYC providers to undergo independent evaluations to ensure compliance with national technical and risk-based standards. By meeting these requirements, Sumsub is now positioned to support financial institutions seeking secure and compliant digital onboarding.
DIGITAL BANKING NEWS
🇳🇱 Trade Republic launches its Dutch banking offering. The Dutch current account allows customers to receive their salary, make instant transfers free of charge, or pay their bills. It also includes 1 percent Saveback on card payments, no ATM fees for withdrawals over 100 euros, and no surcharges for global transactions.
🇧🇷 NuCel launches physical chip and expands purchasing options for customers. Customers in Brazil will be able to purchase the chip directly through the NuCel tab in the app and have it shipped directly home, at no cost, and in just a few days.
🇦🇪 Wio invest surpasses $1bln in assets under administration. Starting with capabilities like access to US markets, the platform has expanded to now include UAE markets, virtual assets, and wealth management portfolios, consistently adapting to customer demand and quickly establishing itself as a safe, local platform.
🇧🇷 Close to beating Nubank's value, Revolut competes for space in Brazil. Amid talks for a new round of investment that could lead it to surpass Nubank's valuation, British fintech Revolut is expected to target Brazilian neobanks as its main rivals in its Latin American expansion plan.
BLOCKCHAIN/CRYPTO NEWS
🇺🇸 Coinbase brings leverage to the masses with perpetual futures. The digital asset announced that American individuals can now access “perpetual-style” futures contracts for trading Bitcoin and Ether. These are the most popular ways for offshore investors to gain exposure to crypto without holding the digital assets directly and to add leverage that can be as high as 100 times.
🇺🇸 Block’s Square opens bitcoin payments to 4 million merchants, using the digital currency’s Lightning Network for faster, low-cost settlements. By integrating Lightning, Square aims to reduce transaction fees and processing times compared with traditional card networks.
PARTNERSHIPS
🇬🇧 CloudPay and Workday join forces for global payroll unity. This integration aims to improve transparency, consolidate payroll data, and streamline cross-border payroll operations, enabling global payroll teams to operate more cohesively and effectively.
🌎 Bitget Wallet launches first fiat withdrawal option via MoonPay. Bitget Wallet has partnered with MoonPay to launch a crypto off-ramp allowing users to convert stablecoins directly into 25 fiat currencies, the companies announced. Read more
🇯🇴 Mastercard partners with Jordan Islamic Bank to expand access to Shari’ah-compliant payments. Through the collaboration, the entities will aim to support the development of new digital channels and customer engagement platforms, enabling the bank to deliver more personalised, accessible, and secure banking experiences.
🇬🇧 Lloyds signs for NCR Atleos ATMaaS tech. The experts at NCR Atleos will manage hardware, software, logical security, installation, maintenance, cash forecasting, and processing for these key strategic locations. This will allow the bank to optimize availability while more quickly implementing new features and functionality.
🌎 Thredd and Inswitch join forces to streamline FinTech market entry in LatAm. By integrating Thredd’s platform with in-country regulatory and operational infrastructure, the two companies will provide FinTech innovators with a scalable, frictionless path to market, accelerating time to launch and enabling local currency and USD card issuance.
🇺🇸 Goldman Sachs and BNY join forces to transform $7.1 trillion money market industry with digital tokens. Clients of BNY, the world’s largest custody bank, will be able to invest in money market funds whose ownership will be recorded on Goldman’s blockchain platform.
DONEDEAL FUNDING NEWS
🇺🇸 Quavo raises $300M to scale fraud dispute platform. The investment will support Quavo’s expansion plans, including scaling its AI-driven product development and growing its client success and go-to-market teams. Keep reading
🇩🇪 Germany’s Credibur launches with €1.8M funding to streamline how institutions manage private credit. With this deal, the company is emerging from stealth mode and commencing operations with its initial pilot customers. The funding will be used to develop its API- and AI-based infrastructure, expand its team, and acquire customers.
🇺🇸 Eventual, a climate FinTech, raises a $7.5 million seed round from AlleyCorp and Upfront Ventures. Founded in 2023 by Dylan DiMarchi and Youssef Doss, Eventual built a model that estimates how insurance prices on homes in the U.S. will change in the coming years.
🇺🇸 Yieldstreet raises $77M in new capital. The company intends to use the funds to support the expansion of its platform capabilities and accelerate private markets integration for individual investors’ portfolios. Keep reading
🇺🇸 Embedded tax startup April raises $38M. The company is preparing to launch advanced tax planning tools around capital gains, retirement planning, and stock transactions. An upcoming partnership with a major U.S. exchange will introduce real-time tax impact calculations on stock trades.
M&A
🇺🇸 Payroc to complete the end-to-end processing platform by acquiring PayIQ. The acquisition will provide Payroc with direct connections to all major card brands, debit networks, and clearing platforms, the company said in a press release. Continue reading
🇮🇳 Empower Finance acquires NIRA to expand credit access. The acquisition allows Empower to scale its presence in India by combining its global technology and credit expertise with NIRA’s proven local distribution model and operational strengths.
🇸🇬 HeyMax acquires krip to expand in Asia. The krip brand will be fully integrated into HeyMax, with all existing users invited to join the HeyMax ecosystem. As part of this transition, krip users will receive complimentary Max Miles, unlocking immediate access to HeyMax’s growing network of travel and rewards partners.
🇬🇧 Payments firm Corpay to buy UK's Alpha Group in $2.2 billion private markets. Its corporate foreign-exchange business will also strengthen Corpay's cross-border business in the UK and Europe and open up new markets in Germany, Malta, and the Netherlands, executives said.
MOVERS AND SHAKERS
🇨🇭 Swissquote ends the directorship of Head of Sales and Operations, Michela Pollini. Her responsibilities include sourcing, international sales, and strategic operations. Despite the termination of her directorship, she appears to remain employed by the firm.
🇺🇸 Aurora Payments appoints Ryan Cross as Chief Financial Officer. He will be responsible for leading the company’s finance organization and driving financial excellence, operational efficiency, and growth. Keep reading
🇦🇺 Binance names Matt Poblocki General Manager for Australia & NZ. Poblocki's combination of legal, regulatory, and commercial acumen is expected to play a role as the digital asset market in Australia and New Zealand continues to evolve and as regulatory standards mature further in the coming years.
🇦🇺 PayPal Australia appoints former ANZ executive Jenny Fagg to its board. Fagg joins PayPal Australia at a critical moment when its 20-year reign as the country’s most popular online payment method is threatened by a swarm of rivals led by Stripe and Apple Pay.
🇵🇹 SIBS announces that Madalena Cascais Tomé will leave in September. Her departure will take place during September, and after that date, the executive functions on the SIBS Board of Directors will be performed by the Chairman of the Board of Directors, Vítor Fernandes, as revealed by the payment methods company.
🇺🇸 MoneyGram appoints Colin Walsh, Chris Trendler, and Katherine Carroll to its Board of Directors. Walsh brings a wealth of experience as a founder, entrepreneur, and global business leader. Trendler will provide deep expertise in organizational effectiveness and talent strategy. Carroll will provide significant regulatory insight and compliance leadership to the company’s industry.
Want your message in front of 100.000+ FinTech fanatics, founders, investors, and operators?
Shoot me a message on LinkedIn or send me an e-mail.
Comments ()