X Money Opens a Key Role as Musk Pushes the Payments Plan Forward
Hey FinTech Fanatics!
X Money is searching for a senior engineer to build a new payments platform from scratch. A signal that Musk’s long-promised digital wallet is finally moving.
Solana jumped in fast, amplifying the job post and noting this is a chance to shape how hundreds of millions access financial services. Their advisor, Nikita Bier, joined X as head of product in June.
X teased an early-2024 launch after announcing a partnership with Visa, which was meant to power wallet funding, bank transfers, and P2P flows.
The push still fits the bigger plan: shifting X toward the Everything App and expanding financial rails across the platform.
Indeed, that sounds like a relevant next step.
Before I forget... You should take a look at the collab below 🤝
As you know, I really love when two worlds collide: Sports x FinTech.
So, check the pic to vote on which jersey looks best:
A) Revolut x Como 1970
B) Robinhood x Nice
Stay tuned for all the biggest moves shaking up FinTech today! The updates are below, and I’ll be back in your inbox tomorrow. 👇
Cheers,
POST OF THE DAY
🇮🇹 Revolut is taking the partnership with Como 1907 to the next level with the official launch of the Revolut logo on their third kit 👌What do you think about this jersey? Is it as iconic as the legendary Robinhood x OGC Nice kit?
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FINTECH NEWS
🌍 Mollie Capital has provided over €250M in funding to European businesses, enabling them to launch new product lines, expand internationally, run major marketing campaigns, and pursue growth opportunities that traditional banks often slow down with lengthy processes.
🇧🇷 Brazilian Senate approves tax increase for FinTechs and betting companies. The tax rate for FinTechs and payment institutions, stock exchanges, and commodities exchanges will increase from 9% to 12% in 2026 and to 15% in 2028. Capitalization companies and credit, financing, and investment institutions will see their tax rate rise from 15% to 17.5% in 2026 and to 20% in 2028.
PAYMENTS NEWS
🇺🇸 Elon Musk's X Money searches for a 'payments platform' tech lead, and Solana is eager to help. X Money is looking to hire an engineer who can help oversee the building of a “new payments platform” meant to serve more than 600 million monthly users. The scope of the role suggests X is building its own infrastructure rather than relying primarily on third-party providers.
🇻🇳 Vietnam-China QR-code retail payment connectivity launched. The bilateral QR-code retail payment connectivity will establish a comprehensive cross-border QR payment ecosystem, boosting tourism, trade, and consumer spending between the two countries.
🌍 Visa helps launch new digital wallets in Europe, in partnership with BBVA, Klarna, and Vipps MobilePay, and is collaborating with BANCOMAT on a pilot planned for early 2026. These launches reflect Visa’s commitment to supporting local and regional players with the scale, security, and reliability of our global network,” said Mathieu Altwegg, Head of Product & Solutions, Visa Europe.
🇧🇷 Disagreement between the Central Bank and banks delays Pix installment payment regulation and leaves Brazilians at risk. The delay in regulation is viewed with concern by consumer protection agencies, which warn of the risk of over-indebtedness among the population.
🇨🇱 Evertec rules out launching its own acquiring network and seeks to grow with Banchile Pagos. The company has invested US$100 million in Chile and in 2026 will focus on payment issuance processing and multi-acquiring in retail. Keep reading
🇧🇷 Cumbuca launches to help international firms enter the Brazilian payments market. Brazil’s rapidly expanding FinTech market offers strong opportunities but is difficult for international firms to enter due to licensing, geopolitical risks, and dependence on third-party providers; Cumbuca addresses this by acting as a regulated proxy that grants direct central bank access and operational control.
🇮🇳 Pine Labs delivers back-to-back profitable quarters. The firm’s revenue increased by 18% during the second quarter, to Rs 650 crore in Q2 FY26 from Rs 551 crore in the same quarter last year. Read more
DIGITAL BANKING NEWS
🇵🇷 Toronto FinTech Propel eyes U.S. expansion with Puerto Rico banking licence. The Puerto Rico licence will let Propel work with banks in all 50 states and opens the door to further global expansion, Noah Buchman, Propel’s President and Chief Revenue Officer, said.
🇬🇧 NatWest, Monzo, and Santander amongst first to join FCA's AI live testing scheme. The “first of its kind” scheme gives firms access to tailored support from the UK watchdog’s regulatory team, as well as its technical partner Advai, to build, evaluate, and roll out "safe and responsible" AI applications.
🇸🇬 Grab-backed GXS Bank cuts 10% staff across Singapore and India. The reported layoffs follow a strategic review to identify roles needed for the next phase and were conducted across GXS Bank in Singapore and the technology center in India.
🇧🇷 PagBank launches mobile phone insurance and strengthens its digital protection offering. PagBank introduced PagBank Mobile Insurance as part of its expanding ecosystem of security-focused services, a move that supports its strategy of offering simple, essential, and integrated financial solutions.
🇮🇹 BBVA Italy expands its investment and lending offering to become a universal digital bank with lending, mortgages, and investment products, aiming to strengthen customer relationships and become users’ primary bank; its strategy includes enhancing mortgage and credit card services, launching a broader range of ETFs, and developing an AI-supported advisory model by 2026.
🇧🇷 Nubank plans to obtain a banking license in Brazil in 2026. Nubank, already serving more than 110 million customers in Brazil, plans to obtain a banking license to align its structure with regulatory requirements under Joint Resolution No. 17, a change that will not affect customers or alter its brand.
BLOCKCHAIN/CRYPTO NEWS
🇦🇪 Binance launches 'Binance Junior' crypto savings account for kids and teens. Binance Junior allows parents to open and manage crypto savings accounts on behalf of their children, enabling young users to save and earn crypto in the account through Binance Flexible Simple Earn.
🇺🇸 Uniswap Labs is partnering with Revolut to offer a fast, seamless onramp. Users can purchase crypto using their Revolut balance or debit card, all within the Uniswap app. This integration gives users in 28 countries more choice in how they get on-chain.
🇳🇴 Opera and Celo scale up partnership to make stablecoins useful for millions of users. The goal is to give people “a reliable stablecoin wallet that allows them to receive payments, save, and send payments, no matter where they are,” Jørgen Arnesen, EVP Mobile at Opera, said in the statement.
PARTNERSHIPS
🇬🇧 OpenPayd to power Altify’s multi-currency on/off ramps. Through the integration, Altify now offers seamless access to GBP, EUR, and USD deposits and withdrawals via SEPA, Faster Payments, and SWIFT, enabling fast and reliable money movement across its global ecosystem.
🇬🇧 Navro adds BVNK stablecoin payments for faster global payouts. The capability expands Navro’s one-API platform. The company said the addition of stablecoins aligns with its strategy to offer “the best payment services in every region” through a unified infrastructure.
🇮🇳 American FinTech major PayPal partners with India’s Kreative & Co. Through this partnership, Kreative & Co. will enable high-intent D2C brands to access PayPal’s capabilities for international transactions, global market readiness, compliance awareness, and frictionless overseas payment acceptance.
🇺🇸 Sunflower Bank announces partnership with VerityPay to enhance B2C payments. Through this partnership, Sunflower Bank’s business customers gain access to VerityPay’s innovative which enables businesses to send payments directly to consumers via SMS text message in as little as 90 seconds, without requiring an app download.
🇺🇸 Visa and Lumanu ink deals for speedy influencer payments. The partnership will extend to creators in more than 195 countries and eliminate multiday delays and hidden fees, according to Lumanu’s announcement. Continue Reading
🇺🇸 eHopper and Valor PayTech launch a unified commerce platform through direct device integration. The integration connects eHopper’s POS software and Valor’s smart payment devices to secure payment processing into a single platform, giving small business owners a seamless way to manage sales, accept payments, and handle daily operations without relying on multiple vendors.
DONEDEAL FUNDING NEWS
🇧🇷 Creditas raises US$108 million in a funding round led by Andbank. With the investment, Andbank becomes a new shareholder of Creditas. According to FinTech, the deal also strengthens the strategic partnership between the two companies.
🇺🇸 PayJoy secures $140m Neuberger debt facility. According to a company statement, the new facility will support PayJoy’s geographic and product expansion. The facility will also be used to support ongoing investments in point-of-sale financing and credit cards.
🇫🇷 ECAIR secures €11 million to ease financing for solar and home renovations. The funding will be used to accelerate the roll-out of its new lending product and expand operations across France as the first step in its roadmap to galvanise Europe’s energy shift.
M&A
🇵🇱 Santander sells 3.5% stake in Polish unit for $473m, following its earlier agreement to sell 49% of the Polish unit to Erste Group; the latest sale involved 3.58 million shares priced at 482 zlotys each and reduces Santander’s remaining ownership in Santander Bank Polska to approximately 9.7%.
🇺🇸 Windtree Therapeutics announces it has signed a letter of intent to acquire CommLoan, a revenue-generating company in the rapidly growing FinTech space. CommLoan will become a subsidiary, retain key employees, and has received bridge financing from Windtree during the transition.
MOVERS AND SHAKERS
🇦🇪 Crypto Giant Binance appoints Co-Founder Yi He as Co-CEO. “Yi will guide Binance through its next phase of development as we strengthen our global regulatory foundations and continue building a trusted, transparent, and responsible platform for digital assets,” Binance said.
🇬🇧 Currensea appoints former Amex and Wise exec Enrique Garland as COO. Enrique’s deep knowledge of the rewards space in the UK and Europe will support Currensea’s mission to redefine everyday loyalty. He brings a wealth of experience across both partnerships and operations within the financial services industry.
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