You Can Now Use Venmo to Pay Off the National Debt (TWIF 7/25)

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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:

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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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.

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.

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.

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A Message From our Partner

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.

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!

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