Hello Fintech Friends,

Welcome to the 566 new readers who’ve joined us since last week. You’re joining 200,000+ other subscribers. Today's newsletter is brought to you by our friends at HSBC.

I don't really have much else to add to this headline story: "The federal government will accept Venmo payments from citizens who want to help pay off the national debt. The Treasury has begun accepting Venmo transactions as contributions toward the national debt, which currently stands at $36 trillion." I will say, I did enjoy this interaction.

📜 We're doing another annual survey at TWIF to understand the fintech expert community's outlook for the industry over the next 6 months and we'd love to get your input. This year, we're also making a $5 donation to Texas flood relief for each submission we get from our experts and our community (up to $5k total). 

Results will be published anonymously in the newsletter (unless you consent to your name being used).

Here's a link to the Google form, which won't take more than 5-10 minutes. Please fill it out by the end of August so we can publish in early September:

This Week in Fintech Community Outlook Survey: Summer ’25

This Week in Fintech’s bi-annual survey gauges the fintech community’s outlook for the industry over the next 6 months and we’re excited to get your input! Results will be published anonymously in This Week in Fintech’s newsletter unless you consent otherwise. Thank you for completing this survey by August 30.

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Please enjoy another week of fintech and banking news below.

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

Fintech is evolving fast — are you keeping up? HSBC’s 2025 Fintech Report delivers critical insights into the trends shaping financial technology worldwide.

Find out where the industry is headed.

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🏦 Financial Services & Banking

🚀 Product Launches

Goldman Sachs and BNY Mellon are partnering to launch tokenized money‑market funds using Goldman's private blockchain and BNY’s LiquidityDirect platform.

Nasdaq Verafin unveiled its Agentic AI AML Workers to automate anti‑money‑laundering processes using artificial intelligence.

📰 Other News

Donald Trump signed the GENIUS Act, establishing the first comprehensive U.S. regulatory framework for stablecoins and signaling strong federal support for blockchain-based financial innovation. For some great analysis, check out yesterday's Weekly Stable, "GENIUS Act signed into law."

The FHFA will exclude FICO 10T from its mortgage-lending overhaul plan for the time being.

Western Union’s CEO argued that stablecoins weren't a threat but an operational opportunity for the company; the company is exploring integrating stablecoins into its infrastructure and digital wallet services. Meanwhile, PNC Bank and Coinbase announced a strategic partnership to enhance digital-asset solutions and expand banking services and American Express is considering adopting stablecoins as an alternative to SWIFT and ACH payment rails.

JPMorgan expanded its equity research coverage to include private firms, beginning with OpenAI.

This week, the FT analyzed the GENIUS Act’s implications for U.S. financial innovation and dollar-centric regulation.

💬 Quote of the Week

💻 Fintech

🚀 Product Launches

PayPal introduced PayPal World, a global platform that connected multiple payment systems and enabled interoperability between PayPal and Venmo.

Carefull launched its Self‑Updating LegacyKit to enable dynamic modernization of outdated vault systems in financial institutions.

Pipe rolled out AI agents to support revenue-based financing operations and accelerate deal execution.

Coinbase launched perpetual futures trading in the U.S., enabling customers to trade crypto derivatives natively on its platform.

Intuit launched new agentic AI experiences and financial management tools within its Enterprise Suite to drive growth for mid-market businesses.

Fintech is evolving fast — are you keeping up? HSBC’s 2025 Fintech Report delivers critical insights into the trends shaping financial technology worldwide.

Find out where the industry is headed.

Want to sponsor a newsletter? See our sponsorship information here.

🍻 Upcoming Events

The Stablecon Salon - vol. 6 · Luma

Join us for the next edition of our monthly Stablecon Salon series powered by Blockfinex, and hosted by Sei, where we bring the stablecoin community in NYC…

This Week in Fintech

💼 Job of the Week

📰 Other News

Block joined the S&P 500 index on July 23, replacing Hess and prompting nearly a 10% jump in its shares ahead of market open!

👎 Bad News

Tipalti laid off dozens of employees as it shifted its sales focus toward mid‑market customers and streamlined its development teams