Payments Daily · Friday, October 16, 2026Daily
PAY.NEWS
EBA lists USDC as the first significant e-money token
Under MiCA, the EBA has designated USDC as the EU's first significant e-money token and will assume direct responsibility for supervising the relevant issuer from November 12, 2026. Noah obtained MiCA and PSD2 licenses, Mastercard and BVNK launched the Global Money Platform integrating stablecoins and fiat currencies, and the first tokenized U.S. Treasury repo transaction has also been completed.
Payments & Infrastructure
BNY completes first tokenized U.S. Treasury tri-party repo transaction on the Tradeweb platform
BNY and Citadel Securities completed a tri-party repo transaction using tokenized U.S. Treasury collateral on the Tradeweb platform. The tokenized securities were recorded on BNY's private ledger, reducing settlement time to minutes rather than T+1.
Banking & Accounts
PYMNTSHow banks are using programmable liquidity to compete for corporate deposits
Large banks are competing for corporate deposits through faster cross-border payments, tokenized deposits, digital platforms, and automated treasury management capabilities, while giving CFOs greater control over fund routing and liquidity. JPMorgan Payments reported quarterly revenue of $5.6 billion, up 14% year over year; Citi said tokenized deposits are operating in seven markets globally and are connected to its 24/7 clearing capabilities.
Cards & Issuing
PYMNTSStripe and Plasma launch a multi-currency stablecoin card
Stripe and Plasma have partnered to launch a multi-currency stablecoin card, allowing cardholders to spend currencies they already hold directly, reducing unnecessary conversion and FX costs. The program currently covers more than 30 countries and supports USD, EUR, OUSD, and stablecoins that meet GENIUS-ready requirements, with a goal of expanding to more than 100 countries by 2027. Stripe's stablecoin card infrastructure will also support additional currencies and stablecoins, enabling businesses operating across markets to issue cards tailored to their spending needs.
Stablecoins & On-chain
PYMNTSMastercard and BVNK launch the Global Money Platform integrating fiat currencies and stablecoins
Mastercard and BVNK have launched the Global Money Platform, integrating Mastercard's payment capabilities with BVNK's stablecoin infrastructure, now available through BVNK. Banks, fintech companies, and businesses can embed multi-currency accounts into their own products and manage funds, payments, and settlement; the accounts support fiat currencies and stablecoins, real-time conversion, stablecoin-linked cards, and local bank payments. The platform will also support other regulated forms of money in the future, such as agent banking and tokenized deposits.
Digital Transactions NewsVisa and Mastercard launch stablecoin payment services covering cross-border payouts and global merchant spending
Visa has launched a commercial service incorporating stablecoins into Visa Direct, supporting businesses in sending domestic and international payouts to more than 180 countries through Inyo Global; Mastercard has partnered with BVNK to launch the Global Money Platform. The platform allows users to spend stablecoins at hundreds of millions of merchants worldwide that accept Mastercard. Initial users include Nuvei, Marqeta, Ontop, Beem, and Almond Fintech.
Regulation & Compliance
Fintech News SwitzerlandEBA designates USDC as the first significant e-money token under MiCA
Under MiCA, the EBA has designated USDC as a significant e-money token. Of the 45 EMTs currently declared in the EU, USDC is the first to receive this status. From 12 November 2026, the EBA will be directly responsible for the issuer's own funds, reserve assets, liquidity, and recovery and redemption plans, while France's ACPR will continue to oversee governance, qualifying holdings, fitness and propriety assessments, outsourcing, and conflicts of interest.
Payments Cards & MobileNoah obtains MiCA and PSD2 licenses, expanding stablecoin payments to all 27 EU markets
Stablecoin payments provider Noah has obtained a MiCA crypto-asset service provider license and a PSD2 payment institution license, enabling it to provide stablecoin and fiat payment services in all 27 EU member states. The licenses support its holding, exchange, and transfer of stablecoins on behalf of customers, as well as the execution of fiat payments through 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, allowing customers to complete KYC and KYB through a single regulated service provider.
Russia to stop personal P2P cryptocurrency trading in July 2027; 11 institutions licensed
The Central Bank of Russia clarified that P2P cryptocurrency transfers between individuals may continue only until July 1, 2027, after which digital currencies must be transferred through approved custodial wallets. The Central Bank of Russia has authorized 11 institutions to conduct cryptocurrency trading businesses, including Sberbank; at present, the only assets available for retail investors to trade are Bitcoin, Ethereum, and Tether's USDT.
Fintech News SingaporeKPay 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.
CoinDeskASIC 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 may apply for licenses by October 7, 2027, and continue operating while their applications are being reviewed. The consultation will close on November 27, and the final guidance and standards are expected to be published in March 2027; ASIC said it has received more than 140 applications for financial services authorizations related to digital assets.
ePayments Systems Limited enters special administration on 15 October 2026
ePayments Systems Limited entered special administration on 15 October 2026. The FCA appointed Mark Boast and Allister Manson of Opus Restructuring LLP as joint special administrators.
OCC says large U.S. banks had restricted services to crypto companies and conditionally approves trust bank charters for five crypto companies
The OCC reported that from 2020 through September 2025, nine large U.S. banks had restricted services to crypto companies and customers in other lawful industries. The report listed digital assets as a restricted industry but did not provide specific crypto-related examples, and the OCC said it could not measure how widespread the practices were.
Companies & Markets
Fintech News SwitzerlandKraken parent Payward agrees to acquire Saldo Finance Oy to obtain an EU banking license
Kraken parent Payward has agreed to acquire Finnish holding company Saldo Finance Oy, which owns Saldo Bank, a bank holding a Lithuanian banking license. The transaction will provide Payward with an EU banking license.