Citi is expanding its Token Services platform into Japan and the United Arab Emirates, extending its blockchain-based banking infrastructure into two major international markets. The expansion gives institutional clients in these markets access to tokenized solutions designed to support faster and more efficient movement of liquidity and payments. Citi’s rollout reflects the broader shift among global banks toward integrating tokenization into established financial infrastructure rather than treating blockchain as a separate financial ecosystem. Expanding across both Asia and the Middle East also highlights how tokenized banking services are becoming part of the international payments landscape.
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Insight of the Day
How instant payments are transforming the financial landscape
As the global payments industry evolves into an increasingly diverse network of competing systems, instant payments are becoming a bigger part of the landscape. Instant payments value flows reached nearly $22 trillion in 2024 across the 15 largest economies that have adopted these payment rails,1 representing 1 percent of the $2 quadrillion in value flows worldwide. They are expected to grow at 15 to 18 percent annually over the next five years.
Instant payments started gaining momentum in the late 2000s and early 2010s in mature electronic-payment markets such as the United Kingdom and the Nordics and Benelux regions, and in historically cash-dominant emerging markets such as India, Nigeria, and Thailand. Since then, many other markets—from the United States and Europe to developing markets across Latin America and Asia—have introduced instant payments with varying results. Many more instant payments markets are expected to gain traction in the coming years.
In this report, McKinsey looks at how instant payments have developed in markets such as Brazil, India, Mexico, and the United States. These markets provide insights and a glimpse into the future for commercial players across the payments value chain. As demand for instant payments grows, banks, acquirers, and payment schemes may see revenue from traditional sources pressured and will need to adapt their services, products, and business models to remain competitive.
Curated News
💳 Payments
BNY Enables Pay-to-Wallet Solution for Cross-Border Payments
BNY has launched a pay-to-wallet solution that enables banks to send cross-border payments directly to retail customers’ digital wallets. The service aims to simplify international money movement by connecting traditional bank payment infrastructure with digital wallets.
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Brite Payments Launches Pay by Bank in the UK
Brite Payments has launched its Pay by Bank service in the UK, targeting a smoother checkout experience for online shoppers. The launch comes alongside research highlighting widespread frustration with online checkout processes among British consumers.
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Mastercard Partners with Mojaloop and AfricaNenda on Payments in Africa
Mastercard is partnering with Mojaloop and AfricaNenda on payment infrastructure in Africa. The collaboration focuses on supporting interoperable payment systems across the continent.
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Swift Provides Cross-Border Gateway to Bizum, PayID and Pix Users
Swift is developing a cross-border gateway connecting users of Bizum, PayID and Pix. The initiative aims to make international transactions more accessible across established domestic payment networks.
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Volante and Circle Partner to Bring USDC Payments to Banks
Volante and Circle are partnering to enable banks to support USDC payments. The collaboration connects stablecoin-based payments with existing banking infrastructure.
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🏦 Banking
HSBC Launches HSBCnio Digital Banking Solution for Businesses
HSBC has launched HSBCnio, a digital banking solution designed for businesses. The platform expands HSBC’s digital banking offering for commercial customers.
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Thought Machine and AWS Launch AI Tool for Legacy Core Banking Migrations
Thought Machine and AWS have launched an AI tool designed to accelerate legacy core-banking migrations. The technology targets banks looking to modernize older banking infrastructure.
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Valley Bank Courts Small Businesses with Bluevine Acquisition
Valley Bank is pursuing an acquisition of Bluevine as it looks to strengthen its offering for small businesses. The deal would bring a fintech-focused small-business banking platform into the bank’s broader operations.
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BankPro Taps Thredd to Power Physical and Virtual Cards
BankPro is partnering with Thredd to support its physical and virtual card programmes. The collaboration will provide infrastructure for BankPro’s card products.
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💼 Fintech
Jeeves Raises $110M to Build Stablecoin Wallet and AI Agents
Jeeves has raised $110 million to develop a stablecoin wallet and AI agents. The funding combines two major fintech trends as the company expands its digital financial infrastructure.
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Chainlink Enables Financial Institutions to Connect to Swift’s Blockchain Ledger
Chainlink is enabling financial institutions to connect with Swift’s blockchain ledger. The integration is aimed at linking traditional financial institutions with blockchain-based infrastructure.
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SMEs Turn from Banks to Fintechs for Cross-Border Payments
Small and medium-sized businesses are increasingly turning to fintechs for cross-border payment services. The shift reflects demand for alternative solutions to traditional bank-based international transfers.
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🪙 Crypto
Crypto ETFs Surge as Bitcoin Funds Add $2.95B in 30 Days
Bitcoin-focused ETFs have seen significant inflows, with funds adding around $2.95 billion over 30 days. The surge reflects renewed institutional activity in the crypto investment market.
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Citi and Coinbase Just Made Stablecoins Invisible
Citi and Coinbase have developed infrastructure aimed at making stablecoin payments more seamless within financial transactions. The development points toward stablecoins becoming increasingly integrated into existing payment experiences.
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Bitcoin Hovers at $84K as Treasury Yields Hold Near Multi-Year Highs
Bitcoin is hovering around $84,000 as US Treasury yields remain near multi-year highs. The market continues to respond to broader macroeconomic conditions affecting risk assets.
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Ethereum Gets Another Privacy Boost as Aztec Brings Back zk.money
Aztec has brought back zk.money, adding another privacy-focused development to the Ethereum ecosystem. The service uses zero-knowledge technology to support greater transaction privacy.
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Morph Joins Mastercard’s Crypto Partner Program
Morph has joined Mastercard’s Crypto Partner Program, connecting the blockchain project with Mastercard’s broader digital-asset ecosystem.
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📈 WealthTech
MoneyHero Investor Urges Board to Consider Potential Sale
An investor in MoneyHero is urging the company’s board to consider potential sale options. The development could lead to changes in ownership of the personal-finance and financial-comparison platform.
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⚖️ Regulation
ECB Invites Expressions of Interest for Digital Euro Innovation Workstreams
The European Central Bank has invited expressions of interest for new digital euro innovation workstreams. The initiative is intended to bring additional participants into the development and exploration of potential digital-euro use cases.
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🌍 Other
Sibos 2026: What Does Sovereignty Look Like in a Multi-Rail Payments Landscape?
Sibos 2026 is examining how financial institutions can navigate an increasingly fragmented multi-rail payments environment. The discussion focuses on sovereignty and control as payment systems become more interconnected.
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MoonPay Launches South Korea Unit as It Expands in Asia
MoonPay has launched a South Korean unit as part of its expansion across Asia. The move gives the crypto-fintech a dedicated presence in another major Asian market.
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