Backbase Acquires Kasisto to Accelerate the Shift Toward Agentic Banking
Backbase has acquired conversational AI specialist Kasisto in a move that underscores the banking industry’s transition toward agentic AI. The acquisition combines Backbase’s banking platform capabilities with Kasisto’s expertise in AI-powered customer interactions and financial assistants. As banks increasingly look beyond chatbots toward autonomous AI systems capable of completing tasks and making decisions, agentic banking is emerging as one of fintech’s most important trends. The deal reflects growing demand for banking experiences that are proactive, personalized, and powered by intelligent automation. For financial institutions, the combination could help accelerate the deployment of AI-driven customer service, sales, and operational workflows. The acquisition also highlights how fintech infrastructure providers are racing to secure the technologies needed for the next generation of digital banking. As agentic AI moves from concept to implementation, deals like this could help define how customers interact with financial institutions in the years ahead.
Video of the Day
Insight of the Day
The State of Tokenization
Tokenization is accelerating, but how much of it is hype? Let’s find out the real gap between hype and maturity.
91.1% - Issuance & Redemption averages just 1.82, the lowest of the three TPI dimensions. 494 of 542 scored assets still score 1 or 2, meaning admin-controlled minting and custodian-mediated exits remain the norm. Easy issuance with constrained redemption is the state of the market.
37.8% - Transferability & Settlement is the strongest dimension at 2.29; 205 assets now reach score 3, suggesting a growing middle ground where assets can move on-chain even if the chain is not yet the sole authoritative ledger. But only 35 assets (6.5%) reach score 4 or 5 — on-chain-sovereign settlement remains rare.
12.0% - Only 65 of 542 scored assets reach Complexity & Composability ≥ 3, the threshold for meaningful DeFi integration. Stablecoins dominate absolutes (~$26.4B currently locked in DeFi); on category penetration, Private Credit (21.4%) and Actively-Managed Strategies (19.6%) stand out as the non-stablecoin categories with the highest share of value already active on-chain.
2.67 - Stablecoins average roughly 2.67 on composite TPI, materially above the market average, and remain the only asset class with both large economic scale and meaningful on-chain utility. Everything else is still early by comparison, even where growth has accelerated.
168 - Launches in 2025, up from 78 in 2024. Total tracked value rose from roughly $200.6B in 2024 to $313.7B in 2025 and $320.6B in the latest 2026 snapshot. Tokenization is clearly broadening, but new issuance is still arriving faster than true infrastructure depth.
At the asset-class level, there is now a visible directional relationship between market value and average TPI: categories with larger scale tend to be somewhat more mature. But that relationship is still shallow. Capital is beginning to favor stronger on-chain structures, yet most of the market remains clustered in low-to-middle progress bands rather than in genuinely native designs.
Curated News
💳 Payments
Bluecode Launches NFC Payments on iOS and Android
Bluecode introduced NFC payments across both iOS and Android devices, expanding acceptance while promoting European payment sovereignty. The rollout strengthens competition in the mobile payments market and supports regional payment infrastructure initiatives.
Source
KBC Integrates Global Mobile Data Services Into Banking App
KBC partnered with Firsty to provide mobile data access abroad directly through the KBC Mobile app. The collaboration reflects the growing trend of banks embedding lifestyle services into digital banking experiences.
Source
HSBC Expands FundPark Funding Facility to $300M
HSBC increased its funding facility for FundPark to $300 million, supporting financing access for small and medium-sized businesses. The move demonstrates continued investment in alternative lending ecosystems.
Source
🏦 Banking
NAB Becomes First Australian Bank to Deploy Conversational AI for Instant Insights
National Australia Bank launched a conversational AI platform that allows employees to access business insights through natural language queries. The deployment highlights how banks are increasingly integrating AI into everyday decision-making and analytics workflows.
Source
AIB Revamps Mobile Banking Experience
AIB unveiled a redesigned mobile banking app aimed at improving usability and customer engagement. The upgrade reflects continued investment in digital banking channels as customer expectations evolve.
Source
Starling Bank Deploys AI to Fight Romance Scams
Starling Bank launched AI-powered tools designed to identify and disrupt romance scam activity. The initiative highlights how banks are increasingly using artificial intelligence to strengthen fraud prevention and customer protection.
Source
Revolut Targets South Africa Expansion by 2028
Revolut plans to enter the South African market by 2028 as part of its international growth strategy. The expansion would give the fintech access to one of Africa’s largest financial services markets.
Source
💼 Fintech
Central Asia’s Iman Seeks $100M for Gulf Expansion
Fintech company Iman is seeking $100 million to support expansion into Gulf markets. The fundraising effort reflects growing investor interest in emerging-market financial technology providers.
Source
Green-Got Breaks Crowdfunding Records
French neobank Green-Got shattered records on Crowdcube, demonstrating strong investor demand for sustainability-focused financial services. The achievement highlights continued interest in mission-driven fintech models.
Source
Fomo Reaches $550M Valuation Backed by Index Ventures and USV
Trading platform Fomo secured backing from Index Ventures and Union Square Ventures at a $550 million valuation. The investment reflects ongoing confidence in next-generation investing and trading platforms.
Source
🪙 Crypto
ICE and OKX Launch Venture to Tokenize NYSE Stocks and Futures
Intercontinental Exchange and OKX formed a joint venture focused on tokenizing NYSE-listed stocks and futures. The partnership represents a major step in the convergence of traditional capital markets and blockchain infrastructure.
Source
MoneyGram Joins Solana as Validator
MoneyGram became a validator on the Solana network as part of its expanding stablecoin strategy. The move deepens the company’s involvement in blockchain infrastructure and digital payments.
Source
Mosta Launches MainUSD Stablecoin for Global Settlement
Mosta introduced MainUSD, a stablecoin designed to support global settlement and cross-border financial activity. The launch reflects growing interest in specialized stablecoins for enterprise use cases.
Source
UBS Demonstrates Compliance Checks on Ethereum Transactions
UBS showcased compliance controls for transactions moving across Ethereum networks. The demonstration highlights growing institutional efforts to bring regulatory safeguards into blockchain-based finance.
Source
Galaxy Supports Digital Prime’s Institutional Lending Standards Initiative
Galaxy backed Digital Prime’s efforts to establish standards for institutional crypto lending. The initiative aims to improve transparency and risk management across digital asset credit markets.
Source
Payward Expands Global Licensing Footprint With New VASP Registrations
Payward secured VASP registrations in the British Virgin Islands, expanding its regulatory footprint. The approvals strengthen the company’s ability to offer compliant crypto services internationally.
Source
Crypto Critic Nouriel Roubini Launches On-Chain ‘Technodollar’
Economist Nouriel Roubini has entered the tokenization market with the launch of Technodollar. The move is notable given Roubini’s long-standing criticism of cryptocurrencies and highlights the growing appeal of tokenized financial products.
Source
Charles Schwab Explores S&P 500 Prediction Markets
Charles Schwab is reportedly considering launching S&P 500 prediction markets with Cboe. The initiative reflects growing interest in alternative market structures and event-based financial products.
Source
Polymarket Hype Linked to $1.9M in Fake Bets
A report found that $1.9 million in allegedly fake bets contributed to activity surrounding Polymarket markets. The findings raise questions about market integrity and transparency within prediction market platforms.
Source
Strive Attributes STRC Decline to Leverage Liquidations
Strive said leverage-driven liquidations contributed to the decline of Strategy’s STRC product. The episode highlights ongoing volatility within crypto-linked investment products.
Source
Disclaimer: Payments Wrap Up aggregates publicly available information for informational purposes only. Portions of the content may be reproduced verbatim from the original source, and full credit is provided with a “Source: [Name]” attribution. All copyrights and trademarks remain the property of their respective owners. Payments Wrap Up does not guarantee the accuracy, completeness, or reliability of the aggregated content; these are the responsibility of the original source providers. Links to the original sources may not always be included. For questions or concerns, please contact us at sam.boboev@fintechwrapup.com.