Hello Fintech Friends,

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Every TradFi – banks, networks, fintechs – is diving headlong into crypto. Who will win? Check out this week's announcements.

This week, we were very, very excited to welcome the newest member of the team, Rachel Morrissey, who joins us as our Director of Content after leading content for 6+ years at our favorite conference, Money20/20, and building the Breaking Banks podcast.

Beyond excited to welcome Rachel Morrissey to the Stablecon and This Week in Fintech teams. | Nik Milanović

Beyond excited to welcome Rachel Morrissey to the Stablecon and This Week in Fintech teams. She brings a tremendous level of expertise from building out the (great) Money20/20 USA content and Breaking Banks Fintech Podcast. (PS: We’re hiring!! DM me.)

LinkedInNik Milanović

Rachel will be leading our content strategy, which raises a good question:

What would you like to see more of from TWIF and Stablecon, that you don't see today? More interviews? Breaking news? A live show? Open webinars? Mini summits?

We're always open to great ideas.

Please join me in welcoming Rachel to the team.

And speaking of TradFi's move into crypto, I had a chance to jump on yesterday with Coinbase CFO Alesia Haas to discuss the last quarter's earnings, including $330M+ in stablecoin revenue.

And enjoy another week of fintech and banking news below.

(👍👎 Have feedback for us? Let us know. Find me at @nikmilanovic, @twifintech, and @ndm)

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🏦 Financial Services & Banking

🚀 Product Launches

Mastercard launched an AI-powered platform that allows issuers to customize debit and credit card designs and unveiled its A2A Protect solution in the UK to combat fraud in account-to-account payments.

Interactive Brokers considered launching a proprietary stablecoin to enhance digital asset services for customers.

Citizens delivered open finance payment capabilities and new direct deposit tools for its banking customers.

📰 Other News

JPMorgan is all over this week's news: Coinbase and JPMorgan struck a deal to integrate USDC settlement for institutional crypto trading. JPMorgan is also nearing an agreement to take over Apple's credit card program from Goldman Sachs. (Goldman Sachs is preparing to offload its remaining consumer credit exposure as part of a broader retail retreat.)

The President’s Working Group on Digital Asset Markets released recommendations to boost U.S. leadership in digital financial technologies, meant to bring the newly-passed GENIUS act into force.

Retailers adopted electronic shelf labels in response to price volatility and labor challenges.

BlackRock secured a key regulatory license in the U.S. to expand its crypto asset management offerings.

Western Union is contemplating opening up its payment network (+200 countries and >380k retail locations) to become a global stablecoin to fiat on and offramp. Their "phone has been ringing since Circle went public."

CFPB told a federal judge it would rework its proposed consumer data rights rule following industry feedback.

Move over, passive: asset managers continue to launch active strategies at a record pace this year.

💻 Fintech

🚀 Product Launches

Financial data collection and reporting startup Solo led the launch of a data-sharing network to improve transparency and connectivity in fintech services.

Clear Junction added support for on-chain stablecoins to expand its digital payment infrastructure.

Chipper Cash, Western Union, and Zoona launched international money transfer services to boost cross-border remittance options.

Flex became the first fintech to launch a Visa Infinite Business Credit Card.

Nubank Ultravioleta enhanced its travel eSIM benefit by offering non-expiring 10GB data and automatic yearly renewal.

🍻 Upcoming Events

Verified: Fintech X Crypto Happy Hour · Luma

Enjoy an evening of conversation, connection, and a touch of the unexpected. Co-hosted by Turnkey and This Week in Fintech, join fellow fintech and crypto…

Turnkey

💼 Job of the Week

Director of Operations Stablecon - Job Description

Job Description

📰 Other News

PayPal enabled merchant support for over 100 cryptocurrencies, including Bitcoin and Ethereum.

Nubank began testing its new loyalty and rewards program, Nucoin, with selected customers in Brazil.

Revolut began offering financial services to 16- and 17-year-olds to promote early money management.

SoFi revealed plans to introduce crypto staking, borrowing, and stablecoin support as part of its digital finance expansion.

🤝 Partnership Corner

FIS partnered with Circle to enable stablecoin-based money movement through USDC.

Navan joined the American Express Sync platform to streamline spend management for business users.

Visa expanded its stablecoin settlement support with partners like Avalanche and Stellar to include additional partners and blockchains.

Zepz adopted USDC to modernize its cross-border payments infrastructure.

Checkout.com partnered with Visa to launch a card-issuing service for businesses.

👎 The Bad News

TikTok users exploited an ATM glitch to steal $17 million in a viral scam across multiple U.S. states.