Major U.S. Banks Explore Acquisition of Fiserv’s Debit Network
Fiserv is reportedly exploring the sale of its debit card network, with several major U.S. banks evaluating a potential acquisition. A deal would represent one of the most significant shifts in payments infrastructure in recent years, giving large financial institutions greater control over debit processing. The discussions reflect growing competition for ownership of the networks that power everyday digital payments. If completed, the transaction could reshape relationships between banks, payment processors and merchants while influencing pricing and innovation across the industry. The potential sale also highlights increasing strategic value being placed on payment infrastructure as financial institutions seek greater control over transaction ecosystems. As digital payments continue to expand globally, ownership of core payment rails is becoming an increasingly important competitive advantage.
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Insight of the Day
Mapping the top 100 stablecoins and their future
Key Takeaways
The market is massive but ruthlessly concentrated. At $321B total supply, stablecoins are no longer niche, but the top 5 tokens control 91.5% of all supply.Hundreds of stablecoins launch every year; almost none survive. The market has broadened in count but not in power.
Fiat-backed and treasury-yield models dominate economics. The most profitable stablecoin businesses are the simplest: take in dollars, buy T-bills, keep the interest. Tether made $10B+ in net profit in 2025. Circle made $2.7B. Transaction fees andDeFi yield are growing butremain secondary revenue streams.
Distribution beats design. The fastest-growing stablecoins won through rails. PYUSD grew 726% via PayPal’s merchant network.USDT dominates Tron because of low fees. TONis rewriting distribution by embedding stablecoins inside Telegram for 100+ millions of users.
Institutions are arriving. Banks, asset managers, and payment networks are entering the stablecoin market at scale. Fidelity, GoldBlackRock Visa, Mastercard, and BlackRock all moving, but most prefer tokenized deposits or regulated structures over pure crypto-native stablecoins. The next wave is compliance-first.
The non-USD stablecoin moment is coming, slowly EUR stablecoins, BRZ, JPYSC, CADD. Non-dollarissuance is growing. ButUSDdominance is structural. Local-currency stablecoins will find traction in treasury and wholesale use before retail.
Curated News
💳 Payments
Italian Fintech Satispay and Mastercard Launch Debit Card
Satispay has partnered with Mastercard to launch its first debit card, expanding beyond mobile payments into everyday banking. The move strengthens Satispay’s consumer payments ecosystem while broadening its product offering.
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M-DAQ Expands into Vietnam’s Payments Market
Singapore-based fintech M-DAQ is expanding its payments business into Vietnam as demand for digital payment services continues to grow across Southeast Asia. The move strengthens its regional presence in cross-border payments.
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Xendit Integrates Dragonpay into Regional Network
Xendit has integrated Dragonpay into its payments network, giving merchants broader access to payment methods across Southeast Asia. The partnership supports faster and more seamless regional transactions.
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49% of UK Payments Firms Struggle to Keep Pace with Regulation
Nearly half of UK payments firms say regulation is evolving faster than their systems can adapt. The findings highlight growing pressure on payment providers to modernize compliance capabilities.
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Open Banking Continues to Record Lower Fraud Rates
A new industry monitor found that open banking payments continue to experience lower fraud rates than the wider payments industry. The findings reinforce confidence in account-to-account payment technologies.
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Float Launches Card-Linked Instalments in the UK
Float has introduced a card-linked instalment solution compatible with Visa and Mastercard credit cards across the UK. The product expands flexible payment options without requiring consumers to change cards.
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Episode Six and Decisionly Automate Payment Disputes
Episode Six has partnered with Decisionly to automate dispute resolution processes for financial institutions. The collaboration aims to reduce operational costs while improving customer experiences.
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🏦 Banking
Klarna Applies for U.S. Banking License
Klarna has officially submitted its application for a U.S. banking license, marking a major step in its expansion beyond buy now, pay later. Approval would enable the company to offer a broader range of regulated banking services.
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Starling Introduces New Scam Protection Tools
Starling Bank has launched new security features designed to protect customers from phone theft and related fraud. The rollout strengthens the bank’s consumer protection strategy as financial scams continue to rise.
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ECB Calls on Banks to Strengthen AI Cyber Defences
The European Central Bank has urged banks to improve their resilience against AI-powered cyber threats. The guidance reflects growing concern over how artificial intelligence could be used to disrupt financial institutions.
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ING Invests in Spanish Wealth Manager Singular Bank
ING has made a strategic investment in Singular Bank to strengthen its private banking and wealth management business in Spain. The move supports ING’s long-term growth strategy in European wealth management.
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💼 Fintech
Thought Machine Raises £30M to Accelerate Growth
Core banking technology provider Thought Machine has secured £30 million in new funding from a new investor. The investment will support continued product development and international expansion.
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Santander Open Sources AI Projects
Santander has released several AI projects under an open-source licence to encourage collaboration and accelerate financial innovation. The initiative reflects growing interest in shared AI development across banking.
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Flutterwave Receives Strategic Investment from Circle Ventures
African payments leader Flutterwave has secured investment from Circle Ventures, strengthening its relationship with one of the leading stablecoin companies. The investment highlights growing interest in connecting traditional fintech with blockchain-powered payments.
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Stoa Raises $2.4M for Cash Rewards Platform
Fintech startup Stoa has raised $2.4 million to expand its cash rewards platform. The funding will support product development and customer growth.
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🪙 Crypto
Stripe-Owned Bridge Secures MiCA and EMI Authorisations
Bridge, owned by Stripe, has secured both MiCA and electronic money institution authorisations, enabling it to expand regulated crypto services across Europe. The approvals strengthen Stripe’s digital asset infrastructure strategy.
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Kraken Pursues European Banking Licence
Kraken is working to become a licensed bank in Europe as it expands beyond cryptocurrency trading. The move reflects growing convergence between crypto exchanges and traditional financial services.
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EDX Markets Raises $76M Led by SBI Holdings
Institutional crypto exchange EDX Markets has raised $76 million in funding led by SBI Holdings. The investment will support platform expansion as institutional demand for digital asset trading continues to grow.
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Coinbase Wins UK Licence for Stocks and Derivatives
Coinbase has secured regulatory approval in the UK to offer stocks and derivatives alongside cryptocurrency trading. The licence significantly broadens the company’s product offering in one of Europe’s largest financial markets.
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Binance Launches Bitcoin Covered Call Yield Product
Binance has introduced a covered call strategy designed to help Bitcoin holders generate additional yield. The product expands the exchange’s growing suite of crypto income solutions.
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SEC Targets July for Crypto Exemption Proposal
The U.S. Securities and Exchange Commission is reportedly aiming to release a crypto exemption proposal later this month. The proposal could provide greater regulatory clarity for parts of the digital asset industry.
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🌍 Other
Naver Pay Remains South Korea’s Leading Mobile Payments Platform
A new survey found that Naver Pay continues to lead South Korea’s mobile payments market. The results highlight the platform’s strong position as digital payment adoption continues to grow.
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The systems that enabled unprecedented wealth creation open markets, fast capital flows, global connectivity are now being exploited at scale.
This is a moment of exposure. Financial networks, supply chains, and digital platforms are increasingly interlinked, creating risk vectors that move faster than traditional oversight can keep pace with. The question is no longer whether disruption will occur, but how prepared your systems are to absorb and respond to it.
The path forward demands decisive action: invest in AI-driven risk intelligence, ensure full transparency across asset flows, strengthen cross-border compliance architectures, and actively participate in building real-time information-sharing ecosystems with regulators and partners. Act now to build resilience. It is no longer a defensive strategy; it is a core requirement for preserving capital and influence in a system under pressure.
Act early to protect your assets and help shape the emerging financial order. Delay, and you will face a system where control has already shifted.