Kraken’s parent company, Payward, has received Full Market Approval from Dubai’s Virtual Assets Regulatory Authority (VARA), clearing the way for its UAE launch in the coming weeks. The exchange plans to offer spot and margin trading with UAE dirham (AED) pairs, direct AED deposits and withdrawals, on-chain staking, and tokenized equities through xStocks. Institutional clients will also gain access to over-the-counter (OTC) trading and Kraken Prime. Additional crypto derivatives and yield products are planned for late 2026 and 2027, subject to further regulatory approval. Payward also plans to offer its trading infrastructure to regional partners through embedded trading services, expanding its reach across the UAE’s regulated digital asset market.
Video of the Day
Insight of the Day
The state of AI in 2026
Key takeaways
— Use of agentic AI is increasing, mostly accounted for by large enterprises. Forty percent of respondents from large organizations (those with annual revenues of more than $1 billion) report scaling AI agents, up from 27 percent last year. The share of respondents from smaller organizations reporting scaling remained flat at 22 percent.
— Many organizations are already scaling software coding agents. About two in ten are scaling them (31 percent at larger enterprises).
— Organizations are using agentic coding tools to build software in-house in lieu of purchasing it. Nearly a third of respondents (32 percent) report that their organizations have decided against buying one or more software products or features because they could be built internally with agentic coding tools.
— The cost of AI is constraining usage in some organizations. About 20 percent of respondents report that AI-related operating costs (including token costs) constrained their AI use. But the majority plan to increase their AI investments.
— The share of respondents reporting enterprise-level financial impact from AI use has not changed since last year. Thirty-seven percent of respondents attribute at least some EBIT impact to AI use (about the same share as last year). And the proportion of AI high performers (those who attribute at least 5 percent of EBIT to their use of AI and describe the technology’s impact as “significant”) has remained flat at about 6 percent of all respondents.
— However, AI use is boosting the performance of individuals at work. Eighty percent of respondents report that AI has improved their individual productivity, and 50 percent report that AI helps them make better decisions.
— Respondents increasingly expect AI to spark workforce declines. Thirty-nine percent of respondents expect AI-related declines in their organizations’ total employment in the coming year, compared with 32 percent last year. (Forty-three percent expect no AI-related change.) But the share expecting workforce declines in last year’s survey was about double the share now reporting actual declines over the past year.
Curated News
💳 Payments
Bank NXT Extends Collaboration with Network International to Modernize Payments Infrastructure
Bank NXT is extending its collaboration with Network International to modernize its payments infrastructure. The partnership reflects continued investment in payment systems designed to support evolving banking needs.
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NZ Fintech Qippay Secures NZ$25 Million Funding Boost
New Zealand fintech Qippay has secured NZ$25 million in funding to support its growth. The raise adds fresh capital to the country’s fintech sector and signals continued investment in emerging financial services businesses.
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Mastercard and WEX Launch APAC-Focused Fleet Management Partnership
Mastercard and WEX are launching a fleet management partnership focused on the Asia-Pacific region. The collaboration combines payment capabilities with fleet-focused services to support businesses managing commercial vehicle expenses.
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Tereina Brings Embedded, Digital and Agentic Payments to Financial Services
Tereina is positioning embedded, digital, and agentic payments at the center of its financial services offering. The announcement reflects growing interest in integrating payments into digital workflows and exploring AI-enabled financial operations.
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Numou and Comera Financial Holding Partner to Expand Financing and Payment Solutions for UAE SMEs
Numou and Comera Financial Holding are partnering to expand financing and payment solutions for small and medium-sized businesses in the UAE. The collaboration aims to broaden financial-service options for SMEs seeking access to funding and streamlined payments.
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🏦 Banking
Central Bank of Bahrain to Triple Technology Investments
The Central Bank of Bahrain plans to triple its technology investments, highlighting the growing importance of digital capabilities in financial services. The move signals a stronger focus on technology as the sector adapts to evolving operational and market demands.
Source
Sibos 2026: Trust and Collaboration at ‘Machine Speed’ Needed to Fight Banking Industry Threats
Discussions at Sibos 2026 highlighted the need for rapid collaboration and trust to address threats facing the banking industry. As financial systems become more interconnected, institutions face increasing pressure to coordinate their responses to emerging risks.
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The UK’s Digital Money Map: Regions Reveal Different Routes to Financial Progress
The UK’s digital money landscape varies across regions, with different areas following different paths toward financial progress. The report offers a regional perspective on the development of digital finance and financial participation.
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💼 Fintech
Veryfi Launches AI-Powered Fraud Prevention Tools
Veryfi has announced AI-powered tools designed to help prevent fraud. The launch reflects the growing use of AI to strengthen fraud detection and reduce reliance on manual verification processes.
FIS Equips CFOs with Agentic AI to Forecast Cash Flow and Surface Risk Earlier
FIS is introducing agentic AI capabilities to help CFOs forecast cash flow and identify risks earlier. The offering reflects growing interest in AI tools that can support financial planning and operational decision-making.
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Hexaware and Anthropic Forge Multi-Year Partnership to Scale Claude AI for Global Enterprises
Hexaware and Anthropic have entered a multi-year partnership to expand Claude AI adoption among global enterprises. The agreement highlights the push to integrate advanced AI capabilities into business operations.
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Mastercard Expands Its European Tech Hub in Dublin
Mastercard is expanding its European technology hub in Dublin, reinforcing its commitment to the region’s digital future. The move highlights continued investment in technology capabilities to support financial innovation.
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Pepkor’s R21 Billion Fintech Merger Faces Scrutiny over CEO Stake and Board Vote
Pepkor’s R21 billion fintech merger is facing scrutiny over the CEO’s stake and the board vote. The questions highlight the importance of governance and ownership structures in major corporate transactions.
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🪙 Crypto
3iQ Receives In-Principle Approval from Abu Dhabi’s IFC
Digital-asset investment firm 3iQ has received in-principle approval from Abu Dhabi’s International Financial Centre. The development marks a regulatory milestone as digital-asset businesses pursue opportunities in the UAE.
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SBI, Mesh and Money Forward Unveil Crypto Connectivity Joint Venture
SBI, Mesh, and Money Forward have announced a joint venture focused on crypto connectivity. The initiative brings financial and technology players together to develop connections across the digital-asset ecosystem.
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Kudo Launches Instant Crypto Withdrawals and Hints at New Mobile App
Kudo has introduced instant crypto withdrawals and hinted at a new mobile app. The developments point to a focus on improving convenience and access for crypto users.
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⚖️ Regulation
FCA Cracks Down on Finfluencers
The UK’s Financial Conduct Authority is stepping up action against finfluencers, reflecting ongoing concerns about financial promotions on social media. The crackdown underscores the importance of accurate, compliant communications when promoting financial products.
Source
American Express Fined $350 Million for Inadequate Anti-Money Laundering Controls
American Express has been fined $350 million over shortcomings in its anti-money laundering controls. The penalty underscores the financial and reputational risks associated with inadequate compliance and the importance of effective financial-crime monitoring.
Source
EU and UK Banks Face One-Year Deadline for T+1
Banks in the EU and UK face a one-year deadline related to the transition to T+1 settlement. Financial institutions will need to prepare their systems and processes for the shorter settlement cycle.
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📈 WealthTech
JPMorgan and Syfe Launch Multi-Asset Income Portfolio
JPMorgan and Syfe have launched a multi-asset income portfolio, combining their capabilities in an investment offering focused on income generation. The partnership reflects continued demand for diversified investment solutions through digital wealth platforms.
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🌍 Other
SoftBank-Backed OPay Secures $185 Million Ahead of US IPO
OPay has secured $185 million ahead of a planned US IPO. The funding provides a significant development as the SoftBank-backed fintech prepares for a potential public-market debut.
Source
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