Global payments,
explained.

Noah obtains MiCA and PSD2 licenses, expanding stablecoin payments to 27 EU markets

Stablecoin payments provider Noah has obtained a MiCA crypto-asset service provider license and a PSD2 payment institution license, allowing it to provide stablecoin and fiat payment services in the 27 EU member states. The licenses support its ability to hold, exchange, and transfer stablecoins on behalf of clients, and execute fiat payments via credit transfers; Noah also said it will seek direct access to the SEPA network. The company said its service network now covers more than 150 markets and 60 currencies, enabling clients to complete KYC and KYB through a single regulated provider.

Bank of Russia approves first 4 crypto trading platforms and 5 digital custody institutions

Bank of Russia has approved 9 institutions to enter the regulated crypto market, with 4 authorized to operate as digital currency trading platforms and 5 authorized to provide digital custody services, making them the first participants in the two official registries. Sberbank and VTB received digital custody licenses, while VTB was also authorized to conduct cryptocurrency trading. All crypto transactions, including transfers to overseas wallets, must be completed through Russian licensed intermediaries, and the relevant institutions must fully comply with the regulatory framework no later than 2027年9月1日.

Latest developmentOct 15 20:27俄罗斯将于2027年停止P2P加密交易

ASIC proposes tighter rules for Australian crypto exchanges and digital asset custodians

The Australian Securities and Investments Commission (ASIC) has proposed new standards requiring cryptocurrency exchanges and digital asset custodians to protect customer funds, improve trading transparency and meet financial requirements. The rules will take effect on April 8, 2027. Existing businesses can apply for licences by October 7, 2027, and continue operating while their applications are being reviewed. The consultation will close on November 27, with final guidance and standards expected to be released in March 2027; ASIC said it has received more than 140 applications for digital asset-related financial services authorisation.

KPay Granted Singapore MPI License by MAS

MAS has granted KPay subsidiary KPay Merchant Service (Singapore) Pte. Ltd. a Major Payment Institution (MPI) license, allowing it to provide merchant acquiring, domestic remittance, and cross-border remittance services in Singapore.

Ant International obtains RPSCS and SVF licenses from the Central Bank of the UAE

Ant International has obtained the Retail Payment Services and Card Schemes Category II (RPSCS) license and the Stored Value Facilities (SVF) license issued by the Central Bank of the UAE.

OCC says U.S. large banks restricted services to crypto firms and conditionally approved trust bank charters for 5 crypto companies

An OCC report said that from 2020 to September 2025, 9 large U.S. banks had restricted services to crypto firms and customers in other lawful industries. The report listed digital assets as a restricted industry but provided no specific crypto examples, and OCC said it was unable to measure how widespread such practices were.

Dutch central bank grants Qivalis an electronic money institution license

The Dutch central bank has granted Qivalis, backed by 37 European banks, an electronic money institution license, bringing it closer to issuing euro-denominated electronic money tokens. Qivalis still needs to publish a white paper and meet other MiCA requirements, and plans to distribute the tokens through banks, cryptocurrency exchanges and payment service providers in the coming months. Under MiCA, holders of electronic money tokens can redeem them at par at any time, and the tokens may not pay interest.

Payward plans to acquire Saldo Bank to obtain an EU banking license

Payward has signed an agreement to acquire Finnish holding company Saldo Finance Oy, which owns Saldo Bank UAB, to obtain an EU banking license. The transaction still requires regulatory approval and is expected to close in 2027; following the acquisition, it plans to offer deposits, lending and SEPA euro payments in five markets, while opening banking-as-a-service tools such as card issuance to fintech companies.

Visa approved to begin preparations to establish an onshore bank card clearing institution in China

Visa has received approval from the People's Bank of China (中国人民银行) for its Application to Prepare, formally commencing preparations to establish an onshore bank card clearing institution in China. The approval only allows Visa to advance preparations in accordance with the requirements of the People's Bank of China; Visa must still complete the relevant procedures before it can conduct onshore bank card clearing business in China.

Kraken secures a full VARA license through Payward, entering UAE spot and margin trading

Kraken has obtained a full crypto broker-dealer, management and investment license from Dubai VARA through its parent company Payward, allowing it to serve retail and institutional investors in the UAE. UAE users can trade spot and margin products in AED and deposit and withdraw directly in UAE dirhams; institutional clients can also access OTC trading services and Kraken Prime.

Rain applies for OCC national trust bank charter to custody digital assets and manage stablecoin reserves

Rain has applied for an OCC national trust bank charter and plans to use its New York subsidiary to custody digital assets and USD for institutional clients, manage stablecoin reserves, and provide issuance and redemption services for USD stablecoins. The proposed bank will not accept deposits, issue commercial loans, or offer consumer accounts, and will not have FDIC insurance. Client assets will be segregated from the bank’s own assets. The application still requires OCC approval and a public comment process, and has faced opposition from traditional banking groups.

US community banking association sues OCC, challenging crypto trust bank charter rules

Independent Community Bankers of America（ICBA）has filed a lawsuit in federal court against OCC, challenging its granting national trust bank charters to crypto companies that do not accept deposits and do not primarily conduct traditional fiduciary business.

Latest developmentOct 3 08:18ICBA起诉OCC挑战加密银行牌照规则

FCA开启加密资产企业监管授权申请通道

FCA宣布加密资产企业可从今天起申请授权，英国将首次把在当地运营的加密资产企业纳入完整的FCA监管，覆盖消费者保护、客户资产保障、市场诚信和财务韧性。拟继续在英国运营的企业应在28 February 2027前申请，新监管制度将于25 October 2027生效；授权并非自动获得，企业需证明符合FCA要求。

美联储就GENIUS Act下银行发行支付稳定币的两项监管提案征求意见

美联储就GENIUS Act下银行发行支付稳定币的两项监管提案公开征求意见。第一项要求受监管发行方以短期国库券等合格储备资产全额支持稳定币，并建立标准化资本要求、风险管理标准及托管规则；第二项为银行申请发行稳定币设立定制申请流程，要求提交商业计划和财务信息，并规定申诉、听证和最终决定程序。征求意见期在联邦公报公布后60天截止。