Payments Daily · Friday, October 30, 2026Daily
PAY.NEWS
South Korea fines Google and Apple approximately $47.6 million
South Korea’s Korea Communications Commission fined Google and Apple a combined approximately $47.6 million for restricting app developers from using external payments, and ordered them to rectify their app payment rules. DTCC launched a U.S. securities tokenization service, with Alpaca among the first 20 participating institutions; Europe, meanwhile, plans to transition to T+1 securities settlement in 2027.
Payments & Infrastructure
European Central BankFirst partyPiero Cipollone: Europe will transition to T+1 in 2027 and advance securities infrastructure tokenization
Piero Cipollone, a member of the ECB Executive Board, said Europe will transition from T+2 to T+1 securities settlement on October 11, 2027, shortening the cycle from trade to securities delivery and payment to one day. T2S already supports T+1 and even T+0 settlement, and the relevant overnight settlement processes are scheduled to be adjusted in June 2027. Meanwhile, Pontes already supports the settlement of tokenized assets in central bank money, and the Eurosystem also plans to extend its operating hours and explore a European tokenized financial ecosystem based on common standards through Appia.
Fintech NewsPayNet launches cross-border DuitNow QR payments through Alipay+, covering five destinations
PayNet launched a DuitNow QR cross-border payment connection through Alipay+. Malaysian users can use local banking apps supported by Maybank, CIMB, Hong Leong Bank, and others to scan and pay at participating merchants in mainland China, the Hong Kong Special Administrative Region, South Korea, the Philippines, and Laos. Users do not need to download another app or create an Alipay+ account, and can confirm transactions within their existing banking app; Bank Islam is expected to join soon, with more banks, e-wallets, and markets to be connected gradually.
BIS CPMI publishes report analyzing the role of central banks and central bank money in payment systems
The BIS Committee on Payments and Market Infrastructures (CPMI) published a report analyzing how central banks and central bank money can maintain the safety, efficiency, and monetary trust of payment systems amid a rapidly changing payments ecosystem. The report examines the risks and opportunities arising from fast payment systems, non-bank payment service providers, tokenized deposits, stablecoins, and programmable platforms, and proposes that central banks coordinate policy across four roles: issuer, operator, regulator, and catalyst for change.
Stablecoins & On-chain
Putin promotes cryptocurrency cross-border settlement to African countries to bypass the dollar
Russian President Vladimir Putin proposed that African countries use cryptocurrency for settlement to enhance financial sovereignty, saying such transactions cannot be blocked under modern technological conditions. Russia’s law on digital currencies took effect on September 1. While prohibiting the use of cryptocurrency for payments domestically, it allows more foreign-trade entities that meet regulatory requirements to conduct cross-border cryptocurrency settlement. Russia’s Ministry of Finance estimates that before the law took effect, cryptocurrency-based foreign-trade settlement accounted for approximately 1–3% of Russia’s total, with a total value of approximately $600 billion.
Regulation & Compliance
Fintech News Hong KongSouth Korea fines Google and Apple a combined approximately US$48M and orders rectification of app payment rules
South Korea’s Media and Communications Commission (KMCC) fined Google and Apple a combined KRW 63.71 billion (approximately US$47.6 million) for restricting app developers from using external payments.
Bank of England seeks views on tokenized collateral, while U.S. CCI submits 238-page regulatory report to SEC
The Bank of England launched a consultation to clarify application standards for clearing houses accepting tokenized collateral; the U.S. crypto industry organization CCI submitted a 238-page report to the SEC, recommending that securities regulation apply based on the extent of a custodian’s direct control over deposits. The U.K. consultation is open until February 12, 2027. The proposal requires collateral to remain valu able, transferable, and liquidatable under stress scenarios; the report says custodians held at least $131 billion in assets as of April 2026 and recommends introducing control tests, independent audits, and mechanisms to suspend operations following security incidents.
Bank of EnglandFirst partyBank of England proposes regulatory path for tokenized collateral in central clearing
The Bank of England launched a consultation supporting central counterparties (CCPs) in accepting eligible tokenized collateral. The Bank of England believes the existing regulatory framework does not constitute an obstacle, provided that the collateral remains capable of being valued, transferred, and liquidated when necessary, including in stress scenarios; tokenization may improve the efficiency of mobilizing and managing collateral across jurisdictions. The consultation period ends on February 12, 2027.
FCA and HTX settle illegal cryptoasset promotion case, with HTX exiting the U.K.
The FCA and HTX reached a settlement over HTX’s illegal cryptoasset promotions in the U.K. HTX will exit the U.K. market; U.K. users can no longer make deposits, and new users are prohibited from registering. HTX made legally binding commitments through a Tomlin order, with the relevant terms remaining effective until October 21, 2031, but the settlement does not represent an admission of liability or wrongdoing. Existing U.K. users may receive a single 48-hour window to withdraw their remaining assets after approval and completion of compliance checks.
Utah charges Kalshi and two co-founders with gambling offenses
On October 28, 2026, Utah brought 13 felony and 1 misdemeanor charges against KalshiEX LLC, CEO Tarek Mansour, and COO Luana Lopes Lara, alleging that they promoted illegal online gambling.
OFAC sanctions 10 individuals and one company in Russia for assisting North Korean IT worker network
On October 28, the U.S. Treasury Department’s OFAC designated 10 individuals and one company, alleging that they helped convert the cryptocurrency income of North Korean IT workers into cash and channel it to Pyongyang. Chainalysis said the individuals were involved in nearly $2 million in cryptocurrency conversions and approximately $3.5 million in money-laundering activity. One case showed that stablecoin income was first converted into ETH, then consolidated through addresses and transferred to Garantex for cashing out.
India’s Enforcement Directorate investigates $585M crypto remittance case involving Mudrex, Saber.money, and Instadapp
India’s Enforcement Directorate is investigating approximately $585M in cross-border cryptocurrency transactions involving Mudrex, Saber.money, and Instadapp, alleging unauthorized transfers of funds. Investigators searched four locations on 27 October under FEMA and said that RPFAS Technologies was involved in $538 million and Instadapp in $40 million of allegedly non-compliant transactions.
FCA undertakes through High Court to prevent HTX from unlawfully promoting cryptoasset services in the U.K.
The FCA has undertaken through the High Court to prevent HTX from knowingly unlawfully promoting cryptoasset services in the U.K.; HTX has now exited the U.K. market. U.K. users can no longer deposit funds with HTX, and new users cannot register; HTX must not proactively solicit U.K. consumers, and users should review the asset-withdrawal arrangements published on its website.
Payments & Agent Economy
PYMNTSShopify embeds Visa, Mastercard, and American Express agentic payment technology into Shop Pay
Shopify has embedded agentic payment technology developed by Visa, Mastercard, and American Express into Shop Pay, and plans to let buyers use Shop Pay at merchants whether or not they use Shopify. Agents will not see buyers’ card information, while users can retain their existing rewards, protections, and payment experience.
Companies & Markets
DTCC launches U.S. securities tokenization service, with Alpaca among 20 participating institutions
DTCC launched a securities tokenization service, with Alpaca among the 20 institutions signed up at launch. The service allows custodial U.S. stocks, ETFs, and U.S. Treasuries to be converted into tokens and redeemed. Tokenized stocks circulating through the Alpaca network are issued by third parties and generally provide economic exposure but no voting or dividend rights; DTCC, by contrast, says its tokens retain ownership of and investor protections associated with the underlying securities held in custody. Initial assets covered by the service include Russell 1000 constituents, major index ETFs, and U.S. Treasuries. DTCC plans to add participants on a rolling basis and include more blockchain networks in 2027.