Stay up-to-date on all the latest FinTech news and information from around the world in the BFC FinTech Monitor.
Around the World#Reports and Research
- According to KPMG’s Pulse of Fintech report, fintech investments over the past 12 months amounted to USD 95.6 billion, the lowest figure since 2017. »»»
- A report from Singapore-based fintech company UnaFinancial has found that nearly half of the world’s fintech transaction volume is expected to come from Asia by the end of 2025. »»»
- Forbes has released its tenth annual ‘Fintech 50’ ranking of the fastest-growing fintech companies. The top-5 most promising are Tipalti (USD 700 million), Bilt Rewards (USD 550 million), Figure (USD 500 million), Zip (USD 371 million) and DailyPay (USD 330 million). »»»
#Payments
- PayPal has unveiled a new PayPal Open platform for businesses. »»»
- Visa reports that tap-to-phone usage grew by 200% in 2024. »»»
- ACE Money Transfer has partnered with Mastercard Move to make cross-border payments easier and faster, allowing users to choose how recipients will receive money (i.e. via bank account, card, mobile wallet or cash). »»»
- Mastercard has introduced a single digital account, One Credential, that allows users to choose the most convenient payment method (debit card, installments, credit, prepayment). »»»
#Artificial Intelligence (AI)
- Chinese company Baidu plans to release the next generation of its AI model by the end of the year. »»»
- OpenAI intends to complete the development of its first AI chip in the next few months. »»»
- The State Bank of India (SBI) is creating a division that will specialize in project finance using AI, e-commerce and fintech solutions. »»»
- One of the largest Spanish banks, BBVA, has updated its virtual assistant Blue. The AI-based assistant improves customer interactions and simplifies routine transactions in the bank’s mobile app. »»»
- Voice payments based on AI will become available in Google Pay. »»»
- The world’s largest AI data center, worth USD 35 billion, will be built in South Korea. »»»
#Innovations, Neobanks and Open Banking
- A study by Juniper Research has found that the number of API requests for open banking will likely increase 427% by 2029, reaching 722 billion. »»»
- Neobank Revolut has launched the Revolut Terminal POS device in Spain that accepts payments at retail outlets. »»»
- Trust2Connect has presented a new Know-Your-Business (KYB) platform to automate the verification of transactions between companies. »»»
#Cryptocurrencies, Blockchain, Non-Fungible Tokens (NFTs) and Decentralized Finance (DeFi)
- US President Donald Trump has signed a decree to create a state reserve of bitcoins and other cryptocurrencies. »»» Additionally, the US Securities and Exchange Commission (SEC) has formed a new unit to combat fraud in the field of AI and cryptocurrencies. »»»
- Cryptocurrency exchange Coinbase and a number of leading blockchain companies have created the Open Agents Alliance (OAA) to develop open AI-based services using a unified infrastructure. »»»
- Francois Villeroy de Galgau, a member of the Board of Directors of the European Central Bank, has stated that the adoption of cryptocurrencies in the US could trigger a financial crisis. »»»
- Uniswap, a leading decentralized exchange (DEX) in the Ethereum ecosystem, will collaborate with Robinhood, MoonPay and Transak to facilitate transactions between fiat currencies and crypto assets. »»»
- Flexa has introduced the tap-to-pay feature for cryptocurrency transactions using NFC-enabled hardware wallets. »»»
- One of the largest Spanish banks, BBVA, will allow clients to conduct transactions with cryptocurrencies. »»»
- OKX has received a Markets in Crypto-Assets Regulation (MiCA) license, becoming one of the first crypto exchanges with the right to provide services in Europe. »»»
- Mastercard tokenized 30% of its transactions in 2024. »»» The company also intends to integrate crypto assets into TradFi this year. »»»
#Central Bank Digital Currencies (CBDCs)
- The European Central Bank (ECB) intends to complete preparations for the digital euro by October 2025. »»» According to a YouGov survey, the European CBDC is of greatest interest in countries where cash is actively used. »»»
- Bank of Baroda (India) has launched a merchant loyalty/cashback Program that allows small- and medium-sized businesses to create and launch loyalty programs for customers paying for purchases in digital rupees. »»»
- The Bank of Israel has presented a preliminary report on the development of the digital shekel as a response to the possible introduction of the digital euro in Europe. »»»
#Miscellaneous
- Octobank experts presented the results of a study of the banking system of Central Asia. »»»
MENA Region:
- Dubai-based Emirates NBD now offers cryptocurrency trading services in its app. »»»
- US-based blockchain startup Ripple has been granted a license by the Dubai Financial Services Authority (DFSA) to provide regulated cryptocurrency services in the Dubai International Financial Centre (DIFC). »»»
- Fintech Galaxy and ProgressSoft will collaborate to accelerate the adoption of Open Finance in the MENA region. »»»
- Meezan Bank customers will be able to add Payoneer accounts to the bank’s app and withdraw funds in multiple currencies in real-time. »»»
- PayTabs Group has acquired a majority stake in PayTabs Egypt. »»»
- Al Etihad Payments and UnionPay International will issue Jaywan cards, which are co-branded UnionPay cards. »»»
- Visa has launched a tap-to-add card in Jordan, allowing users to add contactless Visa cards to digital wallets with a tap of their mobile device.
- Arab Financial Services (AFS) and Ternoa have launched the Athar platform to make crypto payments more accessible for everyday transactions. »»»
- The Bank of Bahrain and Kuwait (BBK) has partnered with JPMorgan Chase to modernize cross-border payments using AI. »»»
- Mastercard and fintech platform Tamara have launched a virtual card in the UAE. »»»
- E&Enterprise and PayPal are optimizing digital payment solutions for businesses in the UAE. In particular, with the help of unified APIs, companies will be able to connect PayPal as a payment method. »»»
Ukraine:
- The National Bank of Ukraine has spoken out against Revolut operating in Ukraine without a local banking license. »»» It has also become known that the regulator is looking for a technology provider to help implement a platform for testing the country’s CBDC. »»»
- News for Ukrainian startups: The Ministry of Digital Development has announced the development of a venture investment platform – Diia.City Invest »»»; applications for participation in the Mission Possible acceleration program have started being accepted »»»; and 69 Ukrainian startups will receive EUR 2.2 million from the Seeds of Bravery consortium. »»»
- The Rozetka marketplace has launched its own installment payment service. Rozetka also plans to open accounts for companies represented on the platform. »»»
- Ukrgasbank is completely switching to issuing inclusive payment cards. Their main feature is a notch on the right side, which makes it easier to recognize and use. »»»
Kazakhstan:
- The National Bank of Kazakhstan is launching the Gold Coin Project to issue digital equivalents of investment coins. »»»
- The limit for mobile transfers has increased from KZT 255,000 to KZT 1,000,000 in the last three months. »»»
- The Ministry of Digital Development of Kazakhstan held a meeting with a delegation from the Chinese Internet giant Tencent to discuss prospects for cooperation in the field of technology, including the possibility of international AI center (alem.AI). »»»
- Arman Asakayev, CEO of FinTech AI Center, discusses key aspects of his organization, its role in the development of the local fintech industry and the country’s prospects in the context of global digital transformation. »»»
- Visa’s tap-to-add card solution is now available in Kazakhstan. »»»
- Bank CenterCredit has launched transfers to Uzbekistan by phone number.
- The fourth wave of the global She’s Next Initiative to support and develop women’s entrepreneurship is underway in Kazakhstan. »»»
- The majority (89%) of small- and medium-sized enterprises in Kazakhstan have implemented digital payments. »»»
Kyrgyzstan:
- Kyrgyzstan has decided to abandon the development of its CBDC in favor of the gold stablecoin USDKG. »»»
- Fines for refusing to accept payments using a QR code have been introduced in Kyrgyzstan. »»»
- The Russian Mir payment cards have stopped working in Kyrgyzstan. »»»
- The Ministry of Finance has imposed sanctions against 22 crypto companies, including those based in the Russian Federation. »»»
- Asylbek Aitmatov, a member of the Expert Council of the Association of Participants in the Virtual Assets Market, and experts from Match Systems have prepared an article on fraud in the crypto industry. The article is available on the FinTech & Retail CA portal. »»»
Tajikistan:
- Fintech startup zypl.ai has presented AION, an innovative credit bureau that uses AI technologies to analyze data and evaluate borrowers. »»»
Uzbekistan:
- The FinTech & Crypto Week 2025 Conference will be held in Tashkent April 16–19, 2025. »»»
- Asterium has become the 11th crypto store to operate in Uzbekistan. »»»
- The Youth Entrepreneurship Development Fund will be created under the Agency for Youth Affairs of Uzbekistan. The organization will launch a USD 10 million venture fund for youth startups. »»»
- Uzbekistan’s leading venture studio, Startup Garage, has opened an office in Doha (Qatar), becoming the first Central Asian venture project with a representative office in the MENA region. »»»
- Tadbirkor Ayollar, a digital platform supporting women entrepreneurs, will begin working on July 1, 2025. »»»
Azerbaijan:
- The volume of transactions via mobile banking amounted to AZN 55.9 million in January 2025, up 50% over January 2024. »»»
- The Central Bank of Azerbaijan, in cooperation with experts from the World Bank, has developed a Roadmap for Supervisory Technologies. »»» The regulator is also working on the introduction of e-KYC processes to simplify access to finance. »»»
- Akart from Azercell Telecom has become the first fintech solution in Azerbaijan to receive an electronic money issuer license.
Armenia:
- The non-profit foundation Web3 Armenia criticized the draft Law on the Regulation of the Cryptosphere proposed by the Central Bank of Armenia. »»» The organization offered deputies free professional advice on the regulation of the cryptosphere, urging them to act in the interests of the state and citizens. »»»
- The official launch of the second venture fund Formula VC has taken place in Armenia. Formula VC plans to invest USD 30 million in 35–40 technology startups. »»»
Georgia:
- Georgian company Keepz is introducing the ability to accept cryptocurrency payments for businesses. Keepz technology does not require the installation of special applications or payers to make a special registration to use the service. »»»
- Georgia Trend Magazine has published an article dedicated to the development of the Georgian fintech industry. »»»
Moldova:
- The Board of the European Payments Council (EPC) approved the accession of Moldova and North Macedonia to SEPA (Single Euro Payments Area). »»»
- The largest bank in Moldova, Maib, received an award for green financing at AmCham Moldova’s first Green Award 2025 Ceremony. Additionally, the international publication Global Finance has awarded Maib the title of ‘Best Bank in the Country in the Field of Sustainable Financing’. »»»
