Crypto.com Wins Initial Approval for U.S. Federally Regulated Crypto Custodian Bank
Crypto.com has secured initial approval to establish a federally regulated crypto custodian bank in the United States — a milestone that signals deepening integration between digital assets and the traditional banking system. Federal oversight would allow the firm to custody digital assets under a regulated framework, significantly enhancing institutional credibility and risk controls. This move reflects a broader regulatory pivot toward supervising — rather than sidelining — major crypto infrastructure players. For institutional investors, federally regulated custody addresses long-standing concerns around compliance, asset protection, and counterparty risk. It also positions Crypto.com to compete more directly with established financial institutions in digital asset servicing. As crypto markets mature, regulatory licensing is quickly becoming the defining competitive moat.
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Insight of the Day
Visa Q1 FY26 Results
Visa reported Q1 FY26 EPS of $3.17, up 15% YoY, slightly ahead of expectations.
Revenue reached $10.9B, also +15% YoY.
This was not a surprise quarter. It was a confirmation quarter.
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What actually mattered
- Payments volume grew 8% on a constant-currency basis.
- Processed transactions hit 69.4B, up 9% YoY, slightly below consensus.
- Cross-border volume rose 12% constant-currency (11% ex-Europe).
The engine is still consumer spend plus cross-border movement. Same thesis as the last decade, still working.
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Segment signal
- Service revenues: $4.8B (+13%)
- Data processing: $5.5B (+17%)
- International transaction revenue: $3.7B (+6%), slightly soft versus expectations
- Other revenues: $1.2B (+33%)
Data processing continues to outgrow everything else. That’s scale compounding, not pricing tricks.
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Cost reality
- Adjusted operating expenses rose 16% to $3.4B.
- Marketing, legal, and G&A are eating into operating leverage.
- Client incentives climbed to $4.3B. Distribution still costs real money.
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Balance sheet and cash
- Operating cash flow: $6.8B (+26%)
- Free cash flow: $6.4B (+27%)
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Shareholder returns in the quarter: $5.1B
Remaining buyback authorization: $21.1B
Visa remains a cash-printing infrastructure business with disciplined capital return.
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Bottom line:
This quarter reinforces a simple point: Visa’s moat is volume, global acceptance, and cross-border flow density.
Growth is steady, predictable, and operationally heavy. That’s exactly what global payments infrastructure looks like at scale.
Curated News
💳 Payments
PayPal Draws Takeover Interest After 50% Share Decline
Following a significant share price drop, PayPal has reportedly attracted takeover interest from potential buyers. The development highlights shifting investor sentiment and strategic uncertainty around legacy fintech valuations.
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Payabli and Huntington Bank Partner on Embedded Payments
Payabli and Huntington Bank are collaborating to integrate seamless payment capabilities directly into digital banking environments. The partnership reinforces the embedded finance trend within traditional banking platforms.
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Bolt Expands Gaming Payments via Toffee Partnership
Bolt has partnered with Toffee to provide global payment infrastructure tailored for game studios and developers. The move strengthens cross-border monetisation capabilities in the gaming ecosystem.
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🏦 Banking
JPMorgan’s EU Arm Fined €12.18M by ECB for Capital Reporting Errors
The European Central Bank fined JPMorgan’s EU unit €12.18 million for capital calculation errors. The penalty underscores regulatory intolerance for reporting inaccuracies amid heightened supervisory scrutiny.
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JPMorgan to Open 160+ Chase Branches in 2026 Expansion Push
JPMorgan plans to open more than 160 new Chase branches across the U.S. in 2026. The expansion signals continued confidence in physical banking alongside digital transformation.
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Engine by Starling Expands to New Zealand with SBS Bank
Engine by Starling has entered its fourth global market through a partnership with New Zealand’s SBS Bank. The move highlights growing international demand for cloud-native core banking platforms.
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PTSB Selects Red Hat OpenShift for Digital Platform Upgrade
PTSB has partnered with Red Hat to deploy OpenShift as part of its digital transformation strategy. The initiative strengthens infrastructure scalability and cloud-native capabilities.
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NatWest Finalises Leadership Ahead of Venture Banking Launch
NatWest has completed key executive hires in preparation for launching its venture banking unit. The move positions the bank to deepen engagement with startups and high-growth firms.
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🧩 Fintech
Stablecore Integrates Stablecoins into Jack Henry Network
Stablecore has joined the Jack Henry Fintech Integration Network to bring stablecoin and digital asset capabilities to banks and credit unions. This partnership bridges crypto infrastructure with community banking systems.
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Bloomberg Terminal Introduces AI Research Interface
Bloomberg has added an AI-powered research interface to its Terminal, enhancing financial analysis workflows. The upgrade reflects AI’s growing role in institutional decision-making.
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Experian Acquires Email Identity Specialist AtData
Experian has acquired AtData to strengthen its identity verification and fraud prevention capabilities. The deal enhances digital onboarding and risk assessment tools.
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InScope Raises $14.5M to Modernise Financial Reporting
InScope secured $14.5 million in Series A funding to automate enterprise financial reporting workflows. The funding reflects continued investment in back-office efficiency solutions.
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KreditBee Plans $120M Pre-IPO Fundraise
Indian fintech KreditBee is preparing a $120 million pre-IPO raise to support growth and expansion. The move signals renewed capital markets activity in emerging fintech ecosystems.
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🪙 Crypto
Crypto Funds Lose $4B in Five-Week Outflow Streak
Crypto investment funds have recorded $4 billion in outflows over five consecutive weeks. The sustained withdrawals highlight persistent investor caution amid market volatility.
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Bitcoin’s Drop to $64K Framed as Macro Shock
Analysts describe Bitcoin’s decline to $64,000 as a macro-driven correction rather than structural market breakdown. The commentary reflects broader sensitivity to global economic conditions.
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ProCap Buys Back Stock After 85% Decline
Anthony Pompliano’s Bitcoin treasury firm ProCap initiated a stock buyback following a steep share price drop. The move aims to stabilise investor confidence amid crypto volatility.
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💼 WealthTech
Monzo Business Launches Free Tax Filing Tool for Sole Traders
Monzo Business has introduced a free tax filing tool to help sole traders reduce administrative burden ahead of Making Tax Digital reforms. The feature deepens value-added services within digital banking.
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Bharti Airtel to Invest $2.2B in Financial Services Arm
Bharti Airtel plans to invest $2.2 billion into its financial services subsidiary to accelerate fintech growth in India. The capital injection underscores telecom-fintech convergence in emerging markets.
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⚖️ Regulation
Deutsche Bank Uses AI to Model Job Disruption Risk
Deutsche Bank reportedly asked AI to assess how automation could impact financial sector jobs. The exercise highlights growing regulatory and governance considerations around AI adoption.
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