JPMorgan is bringing its JPM Coin deposit token to Ethereum for institutional clients, marking a significant step in connecting traditional banking with blockchain infrastructure. The development could expand how institutional customers use tokenized bank deposits within digital-asset environments. Unlike privately issued stablecoins, deposit tokens represent claims on funds held at a bank, making them an important part of the broader tokenized-money landscape. The move highlights how major financial institutions are exploring public blockchain infrastructure to support institutional financial activity.
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Insight of the Day
Evident AI Index for Banks
The pace of AI deployment across the banking sector has accelerated more dramatically in the past 12 months than at any point since the launch of the Evident AI Index in 2023. The average bank score jumped 26% (+9.6 points) – nearly 3x higher than the moving average observed over 2023-2025.
Key insights:
The leaders in the Evident AI Index have remained remarkably consistent over the past four years. All of this year’s top performers have placed in the top-10 at least once before, six have done so every year, and the top-3 perennial leaders (JPMorganChase, Capital One, and RBC) remain undisputed.
While measurable impact from general productivity tools is becoming more widespread, reported outcomes from individual use cases continue to lag. Only 12% report impact metrics in terms of operational KPIs (e.g. efficiency gains). And barely 1% disclose direct financial results (e.g. cost savings).
The top-10 banks are reporting more (and better) outcomes from AI use cases. These banks are responsible for 25% of AI use cases that include impact claims, but demonstrate a higher share of use cases documenting operational metrics (34%) or a direct financial result (50%).
Over the past two years, we have observed the rapid rollout of productivity tools catering to both developers and front office workers. While the spread of reported outcomes from Developer tools is narrowing, established leaders are still reporting greater impact from General Productivity copilots – owing to more robust training, reusable prompts, data integration, as well as mechanisms to identify and scale employee best practices.
The fastest growing clusters of talent are found in capability areas required to industrialize AI applications. AI Model Risk, Product Management, and especially, AI Enablement roles are rapidly expanding as banks invest in the people needed to accelerate deployment, redesign workflows, manage increasingly complex risks, and ensure AI investments translate into measurable impact.
Research remains central to how banks build AI capability, but its purpose has shifted considerably. Among the leading research banks, work focused on Evaluation & Research has risen from under a quarter to a third of published research papers within the past 24 months. This work sits at the intersection of AI performance, controls, and costs – helping institutions determine the best model fit for each discrete task.
Curated News
💳 Payments
Mesh and Visa Partner to Make Stablecoin and Crypto Balances Spendable Across 175 Million Merchants
Mesh and Visa are partnering to help users spend stablecoin and cryptocurrency balances across a network of 175 million merchants. The initiative aims to connect digital-asset balances with everyday payment experiences, potentially making crypto more practical for consumers. The partnership illustrates how established payment networks and crypto infrastructure providers are working to bridge the gap between digital assets and conventional commerce.
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Square Shifts Business Credit Cards to Marqeta Platform to Speed Credit Innovation
Square is moving its business credit cards to Marqeta’s platform to accelerate credit product innovation. The shift highlights the role of modern card-issuing infrastructure in helping financial services companies develop and update products more efficiently.
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Klarna Expands Fiserv Partnership to Enterprise Merchants After Going Live at 100,000 US Locations via Clover
Klarna is expanding its partnership with Fiserv to reach enterprise merchants following its rollout at 100,000 US locations through Clover. The expansion strengthens Klarna’s distribution through established merchant infrastructure and highlights the continuing growth of flexible payment options in retail.
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EPC Launches SCARLET to Standardise EU Digital Identity Wallet Acceptance for Payments
The European Payments Council has launched SCARLET, an initiative focused on standardising the acceptance of EU digital identity wallets for payments. The effort aims to improve consistency across payment experiences as digital identity becomes more integrated into financial services.
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ShopBack Pay Enters Ride-Hailing Through Tada Partnership
ShopBack Pay is entering ride-hailing through a partnership with Tada. The move extends its payment offering into another everyday consumer service and reflects the growing integration of digital payments into mobility platforms.
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Samsung Electronics and Checkout.com Partner to Support Digital Payments and Expand Samsung Pay
Samsung Electronics and Checkout.com are partnering to support high-performance digital payments and expand Samsung Pay. The collaboration brings together consumer technology and payment infrastructure to strengthen digital checkout experiences.
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🏦 Banking
First Citizens Bank Partners NCR Atleos to Provide ATM Access at Target Stores
First Citizens Bank is partnering with NCR Atleos to provide ATM access at Target stores. The initiative expands access to cash through retail locations and demonstrates how banks can use third-party ATM networks to extend their reach.
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Google Helps Huntington Bank Deploy AI-Powered Operating System
Google is helping Huntington Bank deploy an AI-powered operating system. The initiative reflects banks’ growing interest in using AI to improve internal operations and modernise how employees interact with technology.
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US Fintech Firm Ramp Seeks OCC Trust Bank Charter
Ramp is seeking a trust bank charter from the US Office of the Comptroller of the Currency. The application signals an effort to expand its regulated financial-services capabilities and reflects the broader trend of fintech companies pursuing more direct roles in banking.
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💼 Fintech
World Takes on AI-Driven Impersonations with New Suite for Banking and Finance
A new suite targeting AI-driven impersonation has been introduced for banking and finance. As AI makes fraudulent identities and impersonation attempts more convincing, financial institutions face increasing pressure to strengthen authentication and fraud detection.
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Acorns Acquires Frich, Expanding Its Financial Education Community
Acorns has acquired Frich to expand its financial education community. The deal highlights the growing role of digital communities and creator-led content in helping consumers build financial knowledge and engage with personal finance.
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Stifel Invests in Meow and Prepares White-Label Treasury Platform
Stifel has invested in Meow and is preparing a white-label treasury platform. The development points to continued interest in modern treasury solutions that financial institutions can offer under their own brands.
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Salmon Raises Funds to Double Down in the Philippines
Fintech company Salmon has raised additional funding to strengthen its operations in the Philippines. The financing supports its growth ambitions in a market where digital financial services continue to develop.
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🪙 Crypto
Mastercard Introduces Risk Intelligence to Enable More Secure Stablecoin Payments
Mastercard is introducing risk intelligence capabilities aimed at making stablecoin payments more secure. The move brings established payment-risk expertise into the digital-asset ecosystem as stablecoin use expands beyond crypto-native transactions.
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Mastercard Brings Its Fraud-Fighting Tools to Stablecoin Payments
Mastercard is extending its fraud-prevention tools to stablecoin payments, addressing security concerns as digital assets become more integrated into payment activity. The development highlights the importance of applying established fraud controls to emerging payment methods.
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Strive Buys $335 Million in Bitcoin After Investors Pour In $369 Million
Strive has purchased $335 million worth of Bitcoin following $369 million in investor inflows, according to the report. The transaction highlights continued corporate accumulation of digital assets and the role of investor capital in supporting Bitcoin-focused strategies.
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OKX Managing Partner Rafique to Leave by Year-End
OKX managing partner Rafique is expected to leave the company by the end of the year. The leadership change comes as major crypto exchanges continue navigating a competitive and evolving digital-asset market.
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⚖️ Regulation
FCA Calls for Disclaimers on AI Financial Advice
The UK Financial Conduct Authority is calling for disclaimers on AI-generated financial advice. The proposal highlights regulatory concerns about how consumers interpret automated guidance and the need for transparency when AI tools provide financial information.
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Zilch’s IPO Plan Will Put a Price on BNPL Regulation
Zilch’s planned IPO could bring renewed attention to the regulatory environment surrounding buy now, pay later services. The listing may give investors another way to assess the sector’s prospects as regulation and consumer-credit considerations shape its future.
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Bank of America Hires 1,000 Contractors to Patch Software Flaws Spotted by Anthropic Mythos
Bank of America reportedly hired 1,000 contractors to address software flaws identified through Anthropic’s Mythos-related work. The report underscores the scale of remediation that may be required when vulnerabilities are identified in complex banking technology environments.
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