Europe

CORPORATE ACTIVITY

UniCredit Bank and Alpha Bank Romania announced they will finalise their merger on 15 August 2025. The consolidation will see Alpha Bank’s branches rebrand under UniCredit, creating a single bank with a stronger market position and an expanded customer service network in Romania.

CROSS-BORDER

Google is piloting a new remittance service by partnering with UK fintech Wise (alongside Ria and Xe) to enable cross-border money transfers via Google’s digital wallet and even directly through Google Search. The test aims to make international payments more accessible by allowing users to send funds overseas within Google’s ecosystem.

CRYPTOASSETS/BLOCKCHAIN/DLT

The European Banking Authority (EBA) has finalized strict bank capital requirements for crypto assets. Under the new rules, banks must assign a 1,250% risk weight to unbacked cryptocurrencies like Bitcoin and Ether, meaning €1 million in such crypto exposure would require €12.5 million in capital reserves. These standards, part of the EU’s CRR III framework, seek to harmonise crypto risk management across member states.

Wirex, a UK-based digital wallet, has become the first platform to support EURC (Circle’s euro-backed stablecoin) for near-instant settlement on Visa’s network. Through Visa’s pilot program, Wirex can settle cross-border transactions in EURC, a stablecoin pegged 1:1 to the euro, streamlining crypto-to-fiat payments in Europe and reducing reliance on traditional currency conversions.

DIGITAL & eCOMMERCE

Australia-based design platform Canva has partnered with mobile payments provider Boku to extend its reach in Europe and Asia by integrating localized payment methods. The collaboration will allow Canva users in regions with low card penetration to pay via local alternatives (such as digital wallets and bank transfers), making Canva’s subscription services more accessible to new markets and customers.

DIGITAL, RETAIL & ‘NEO’ BANKING

Revolut is seeking regulatory approval from Morocco’s central bank to launch its app-based banking services in the country. Revolut has begun hiring in Morocco as it plans a phased entry, initially as a payment operator, with aims to obtain a full banking licence within two years. This move marks Revolut’s first expansion into North Africa as it continues to grow its global footprint.

FRAUD & CYBERSECURITY

Singapore-based fintech Nium has partnered with regtech firm iPiD to enhance payee verification and fraud prevention in European payments. The partnership integrates Nium’s “Verify” account name-check service with iPiD’s infrastructure, expanding real-time account validation coverage across 41 SEPA countries. The move comes as EU regulations will mandate Verification of Payee (VoP) checks by October 2025, helping payment providers reduce misdirected payments and document anti-fraud measures in cross-border transactions.

REGULATION (UK)

The UK Financial Conduct Authority has introduced new safeguarding rules to better protect customers’ funds held by payment and e-money firms. Starting May 2026, providers must keep consumer money segregated from their own funds so it can be returned to customers at any time if the firm fails. Firms will also face stricter audit and reporting requirements. The rules aim to prevent losses of customer money in the event of an insolvency, following past incidents where failed payment firms left shortfalls in client funds.

North America

BNPL

Affirm has expanded its partnership with Stripe to launch the first-ever BNPL integration on Stripe Terminal, enabling U.S. and Canadian merchants to offer Affirm’s pay-over-time options to in-store shoppers via Stripe’s point-of-sale devices. This omni-channel BNPL rollout aims to help merchants boost sales by meeting customers with more flexible payment choices at checkout.

CRYPTOASSETS/BLOCKCHAIN/DLT

Payoneer is adopting Citi’s blockchain-based tokenised payment platform to power 24/7 real-time transfers within its own global accounts. The integration with Citi Token Services gives Payoneer instant liquidity and improved treasury efficiency for moving money across borders, with the company touting the initiative as a step toward faster and more transparent global fund transfers.

LITIGATION

New York’s Attorney General has filed suit against Early Warning Services – the bank-owned operator of P2P network Zelle – accusing it of failing to shield users from rampant fraud on the platform. The legal action alleges that Zelle’s owners did not implement sufficient protections, leading to “massive” fraud losses for consumers, and seeks to hold the network accountable for security lapses.

SCHEMES

Visa has taken a stake in fintech startup HoneyCoin, joining a $4.9 million seed funding round for the stablecoin-compatible payments platform. HoneyCoin’s platform enables businesses and consumers to collect payments and move money in real time via stablecoins alongside traditional channels, and even issue bank accounts, debit cards, and wallets across 45+ markets. Visa’s involvement underscores scheme networks’ growing interest in supporting stablecoin-based payment innovation.

LATAM

CRYPTOASSETS/BLOCKCHAIN/DLT

Brazil’s central bank has reportedly overhauled its approach to its digital currency project (Drex), opting to drop blockchain and tokenisation elements due to scalability and privacy concerns. Instead, the Drex CBDC will use a more traditional, centralized design focused on using financial assets (like stocks and bonds) as loan collateral and integrating with Brazil’s instant payment system Pix. This marks a significant shift in Brazil’s CBDC development, emphasizing reliability and privacy over distributed ledger technology.

DIGITAL, RETAIL & ‘NEO’ BANKING

Mexican fintech Stori – known for providing credit cards and personal loans to the underbanked – has achieved sustainable profitability and is now eyeing an IPO within the next two years. The company reports 3.7 million users in Mexico and an ambitious growth strategy serving middle- and lower-income consumers in a market where cash still dominates and only ~33% of adults have formal credit. With annual revenue surging and costs per customer falling, Stori’s CEO Bin Chen says the fintech is preparing to go public by 2027 as it continues expanding access to credit.

APAC

ISSUING

Upcoming Malaysian digital bank Ryt Bank has selected Episode Six – a processing and banking infrastructure provider – to power its new card programme ahead of the bank’s official launch. Episode Six’s card issuing and ledger technology will enable Ryt to customise features for its Visa-branded cards (including support for installment payments, virtual cards, lending and rewards) on a modern platform. This partnership sets the foundation for Ryt Bank to offer flexible card services as it enters the market later this month.

REGULATION

One97 Communications’ Paytm has cleared a key regulatory hurdle in India, as the central bank has granted in-principle approval for Paytm’s payments subsidiary to operate as an online payment aggregator. This preliminary authorisation from the Reserve Bank of India allows Paytm to continue onboarding merchants and processing digital payments, after the firm underwent restructuring and compliance efforts following earlier RBI concerns. Paytm still needs to meet final conditions set by the regulator, but this development indicates progress in aligning its operations with India’s payment licensing requirements.

SCHEMES

Cambodia’s Wing Bank, in collaboration with Mastercard and tech partner Compass Plus, has launched the country’s first two-in-one debit and credit card, dubbed “One Card”. The numberless One Card combines access to a customer’s deposit account and a credit line in a single card, a convenience aimed at the growing digital consumer base The One Card employs tokenisation for security and comes in Platinum and Gold versions, offering various rewards and benefits to users. This innovative card is part of Wing Bank’s efforts to modernise payments in Cambodia, leveraging Mastercard’s network and expertise.

Middle East and Africa

CORPORATE ACTIVITY

South Africa’s Nedbank has agreed to acquire fintech firm iKhokha in a $94 million deal aimed at bolstering support for SMEs and the bank’s digital payments strategy. iKhokha provides mobile point-of-sale devices and online payment tools to small businesses. The takeover will integrate iKhokha’s merchant acceptance technology and customer base into Nedbank’s operations, allowing the bank to expand services to entrepreneurs with more advanced card acceptance solutions and digital commerce tools.

CROSS-BORDER

UAE-based digital bank Zand has partnered with Mastercard to launch a new cross-border payments solution for United Arab Emirates residents and businesses. By leveraging Mastercard’s “Move Money” platform, Zand’s customers will be able to send and receive money internationally with greater speed and lower cost. The collaboration underscores a push in the Gulf region to improve cross-border remittances and transfers, a vital service in the expat-heavy market of the UAE.

CRYPTOASSETS/BLOCKCHAIN/DLT

Canadian digital asset platform Aquanow has teamed up with SGB, a Bahrain-based digital bank, to bridge fiat banking with the crypto economy. The partnership enables Aquanow’s institutional clients – such as exchanges, fintechs and neobanks – to open accounts and settle transactions in multiple fiat currencies (USD, AED, SAR, etc.) through SGB’s regulated banking network and real-time settlement platform. SGB, which focuses on linking Asia with the Middle East/North Africa region, provides the secure, licensed infrastructure to seamlessly convert between crypto and fiat for Aquanow’s users. This collaboration comes as MENA and Asian markets see rising institutional adoption of digital assets under supportive regulatory regimes.