Hello Fintech Friends,
Welcome to the new readers who’ve joined us since last week. You’re joining 170,000+ other subscribers.
Quick PSA: The USA, Fundraise, and Exits newsletters will be off for the next two weeks, back on May 1st. (When we host New York Fintech Week!)
This week, we were excited to take the wraps off a project we’ve been working on for a while:
In September, around our flagship Stablecon conference, we’ll host Stablecoin Week, a week of decentralized events, hosted by the innovators and participants in the stablecoin community, all taking place in DC. Join us from September 7th to 11th, and register now if you’re interested in hosting an event.
Today is also the last day to register for Safeguard’s AI Deepdive Retreat. If you work in fraud, compliance, or identity and you can still secure a complimentary pass plus $1,500 in travel reimbursement. May 3–6 at The Broadmoor in Colorado Springs. Registration closes tonight. Last Chance to Join Safeguard.
Please 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
UnionPay launched an Agentic Payment Open Protocol framework designed to standardize how AI agents interact with financial systems.
Visa unveiled a new tool designed to make it easier for businesses to offer AI-powered shopping with agentic purchasers.
Other News
BNY and Robinhood are partnering with the U.S. Treasury to manage the newly-introduced "Trump Accounts" for children, which will each get $1,000 at birth.
JPMorgan CEO Jamie Dimon urged the bank to accelerate its digital transformation as blockchain-based tokenization began to fundamentally reshape global finance. Similarly, the IMF warned that the rapid rise of tokenized assets threatened to amplify market volatility and accelerate future financial crises.
The Trump administration overhauled banking regulations to combat "debanking," targeting rules that previously allowed lenders to cut ties with controversial or high-risk clients. Others would simply call these rules “KYC,” or “AML.” It is unclear how much politically-targeted debanking actually occurred in the US.
Lloyds is testing quantum computing technology to identify and dismantle complex "money mule" networks used by criminals to launder illicit funds.
Mastercard is facing a formal investigation by UK regulators over concerns that its dominance in the payment network market stifled competition.
Quotes of the Week
Fintech
Product Launches
Circle launched a suite of managed services to streamline stablecoin integration, removing technical hurdles for businesses looking to adopt digital dollar infrastructure.
Polymarket unveiled a comprehensive exchange upgrade to allow the platform to internalize its trading operations and decentralized data verification.
BitGo simplified the minting and redemption process for institutional clients by launching new tools to provide a more efficient gateway for large-scale stablecoin liquidity.
Ramp announced its new Ramp for Startups program.
InvestSuite launched "StoryTeller," a tool to transform complex financial data into AI-driven narratives for asset managers.
Revolut launched a new AI assistant to help customers with money management tasks, spending insights, managing subscriptions, and planning trips:
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Upcoming Events
Jobs of the Week
Valinor is hiring across the board to tokenize private credit:
Other News
Plata reported significant growth in its 4Q2025 financial results, driven by the successful expansion of its credit card services and user base in Mexico.
eToro reintroduced cryptocurrency trading services to New York residents, marking a major return to the state three years after securing its BitLicense.
Circle minted $1 billion worth of USDC stablecoins in 24 hours, signaling a sharp increase in institutional demand for digital dollar liquidity.
The Bad News
World Liberty Financial is facing intense scrutiny following reports of alleged links between the Trump-affiliated crypto project and a sanctioned financial network.
Bolt laid off one-third of its workforce, with leadership citing the rapid integration of AI as the primary driver for the staff reductions.
Delve “parted ways” with Y Combinator as the embattled startup struggled to navigate an ongoing compliance scandal.
Revolut received a €1.15 million fine from Italian regulators for failing to implement adequate anti-money laundering controls and reporting procedures.
VibePay and SmartLayer shut down their operations, marking the latest casualties in a tightening environment for UK-based fintech startups.
Fundraises
KreditBee joined the unicorn club after securing $280 million in a funding round to expand its digital lending platform.
Ripple injected a $250 million lifeline into the crypto exchange Gemini to bolster liquidity as the exchange undergoes financial duress.
9fin reached a $1.3 billion valuation following a $170 million capital raise aimed at scaling its financial data analytics tools.
Polygon Labs held talks to raise $100 million specifically to build out its dedicated blockchain payments business.
Modus raised $85 million in a round led by Lightspeed to build the first AI-native accounting firm.
MillTechFX secured $60 million in funding to fuel its strategic expansion into the U.S. foreign exchange market.
Paysend raised $25 million to further develop its global card-to-card money transfer network.
Xccelera raised 12 crore in seed funding to accelerate the development of its agentic AI technology for financial services.
