Bitget Expands Crypto Payments With USDT Scan-to-Pay
Bitget introduced a new Scan-to-Pay feature that enables users to make instant payments using USDT directly through QR code transactions. The rollout marks another major step toward integrating stablecoins into everyday consumer payments and accelerating crypto adoption beyond trading platforms. As competition intensifies in the digital payments space, crypto firms are increasingly focusing on real-world utility and frictionless payment experiences. The feature also reflects growing demand for faster, borderless payment methods powered by blockchain infrastructure. By simplifying merchant and peer-to-peer transactions, Bitget is positioning itself as a stronger player in the global fintech payments ecosystem. The move highlights how stablecoins are evolving into practical financial tools rather than purely speculative assets. Overall, the launch reinforces the broader industry trend of merging crypto functionality with mainstream payment behavior.
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The 2026 Directory of Stablecoin Card Program Enablers
The financial ecosystem of 2026 has definitively transitioned from a phase of speculative exploration to one of rigorous institutionalization. Stablecoins, once viewed through the lens of decentralized finance experiments, now serve as the primary settlement rails for internet-native commerce, representing a structural shift in how value is moved and spent globally. This transformation is anchored by the full deployment of the European Union’s Markets in Crypto-Assets (MiCA) regulation and the United States’ Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, both of which have reached critical enforcement milestones as of early 2026.
In the European theatre, the April 2026 status report from the Spanish Government and EU tax agencies confirms that MiCA has moved from a legislative framework into an “eminently supervisory cycle”. The “grandfathering” transitional periods, which allowed legacy providers to operate under limited oversight, are concluding, with a hard deadline of July 1, 2026, for all Crypto-Asset Service Providers (CASPs) to secure full MiCA authorization or cease operations. This regulatory rigor has resulted in a consolidated market of 38 accredited Electronic Money Token (EMT) issuers, ensuring that any card program operating within the Eurozone utilizes tokens backed one-to-one by high-quality liquid assets and redeemable at par value.1 The implication for fintech founders is profound: the “regulatory arbitrage” era is over. Launching a card in Europe now requires an infrastructure partner that is either an Electronic Money Institution (EMI) or maintains a primary relationship with one to ensure that euro-denominated settlement layers like EURe are compliant with the categorical ban on interest-bearing stablecoins.
Simultaneously, the United States has seen the rapid maturation of the GENIUS Act framework. As of April 2026, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) have issued comprehensive rules defining the pathways to becoming a Permitted Payment Stablecoin Issuer (PPSI).9 These pathways—spanning subsidiaries of insured depository institutions, federally qualified issuers (FQPSIs), and state-qualified issuers (SQPSIs)—have effectively brought stablecoin issuance into the federal banking perimeter. For product managers, this means that U.S.-based stablecoin cards are no longer “fringe” products; they are regulated financial instruments supported by “pass-through” deposit insurance models and strict reserve asset concentration limits, which prohibit any single financial institution from holding more than 40% of an issuer’s reserve assets. The 2026 market is thus characterized by “bank-grade” systems that support multi-jurisdictional operations, where stablecoins like USDC and PYUSD are treated with the same prudential respect as traditional commercial bank deposits.
This institutionalization has driven stablecoin transfer volumes to unprecedented heights. By 2024, volume had already reached $27.6 trillion, exceeding the combined transaction volumes of Visa and Mastercard, and by 2026, this momentum has only accelerated as cross-border B2B payments and consumer card programs have matured. The “wild ride” of crypto has been replaced by the “steady hum” of stablecoin infrastructure, where the focus has shifted from ideological debates to the practical details of slippage management, cost-basis tracking, and real-time settlement across 190+ countries.
Curated News
💳 Payments
Sui Launches RedotPay-Powered Slush Card
Sui announced a new digital asset payment card powered by RedotPay, allowing users to spend crypto assets more seamlessly in real-world transactions. The launch highlights continued momentum in connecting decentralized finance with traditional payment infrastructure.
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Juspay and Cumbuca Release Open Finance Playground
Juspay and Cumbuca launched an open-source developer platform focused on Brazil’s Open Finance ecosystem. The initiative is designed to accelerate innovation by giving developers easier access to embedded finance and payment infrastructure tools.
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🏦 Banking
Codat Unveils AI Advisory Platform for Banks
Codat launched a new advisory intelligence platform aimed at helping commercial banks use real-time financial data and AI-driven insights more effectively. The platform is expected to improve customer engagement and business banking personalization.
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Tencent Cloud Powers AI Chat Banking in Malaysia
Tencent Cloud partnered with Ryt Bank Malaysia to launch AI-powered chat banking services. The collaboration reflects the rapid adoption of conversational AI across Asia’s digital banking sector.
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Commerzbank Cuts 3,000 Jobs Amid UniCredit Pressure
Commerzbank announced plans to cut 3,000 jobs as it strengthens defenses against takeover pressure from UniCredit. The restructuring underscores ongoing challenges facing major European banks amid economic uncertainty.
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Credit Karma Expands Access to ‘Credit Invisible’ Consumers
Credit Karma is opening its platform to millions of Americans with limited or no traditional credit history. The move aims to improve financial inclusion and expand access to credit-building opportunities.
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🪙 Crypto
Coinbase Suffers Major Outage Linked to AWS Failure
Coinbase experienced a seven-hour outage caused by an AWS availability zone failure, disrupting trading activity for users. The incident highlights the operational risks centralized crypto exchanges continue to face.
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CME Targets Launch of Bitcoin Volatility Futures
CME is preparing to launch Bitcoin volatility futures on June 1, expanding institutional crypto derivatives offerings. The product could provide traders with new tools to hedge against market swings.
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XRP Activity Declines as Institutional Focus Grows
New XRP wallet creation and active supply metrics have dropped significantly as the network shifts toward institutional payment infrastructure. The trend suggests XRP’s ecosystem is evolving away from retail-driven usage.
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Zcash Pushes Toward Post-Quantum Security
Zcash developers are targeting a major post-quantum cryptography milestone by 2027. The initiative reflects growing concerns around the long-term security impact of quantum computing on blockchain networks.
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📈 WealthTech
Digital Asset Seeks $300M Funding Round
Digital Asset is reportedly pursuing a $300 million funding round led by a16z Crypto at a valuation near $2 billion. The fundraising effort signals continued investor confidence in institutional blockchain infrastructure.
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Pit Raises $16M Backed by Andreessen Horowitz
Startup Pit secured $16 million in funding led by Andreessen Horowitz to expand its financial infrastructure platform. The investment highlights sustained VC interest in next-generation fintech tooling.
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Squads Raises $18M for Stablecoin Finance Infrastructure
Squads raised $18 million to develop business finance tools powered by stablecoin infrastructure. The company aims to simplify treasury management and cross-border payments for businesses.
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⚖️ Regulation
ECB’s Lagarde Questions Euro Stablecoins
ECB President Christine Lagarde expressed skepticism about the future of euro-denominated stablecoins. Her comments reinforce Europe’s cautious regulatory approach toward private digital currencies.
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Australia Warns Finance Firms Over AI Cyber Risks
Australian regulators warned banks and financial firms about increasing cybersecurity threats tied to AI adoption. The guidance reflects mounting concerns over AI-driven fraud and operational vulnerabilities in finance.
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📌 Other
Fintech Startup Parker Files for Bankruptcy
Fintech startup Parker filed for bankruptcy after struggling in a difficult funding environment. The collapse highlights the mounting pressure on fintech firms to prioritize profitability and sustainable growth.
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