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
- Fintech company Revolut has presented a new report on cyber fraud showing that 54% of recorded attacks occur through instant messengers and social networks, with most occurring via complex fraud schemes on encrypted communication channels. »»»
#Payments
- The central banks of five countries have opened a tender to select an operator for the Nexus cross-border payment network, a project launched with the support of the Bank for International Settlements (BIS). »»»
- PayPal is launching its first contactless mobile wallet, which will debut in Germany. »»»
- Payment platform Stripe now supports WeChat Pay across all of its payment terminals. »»»
- Mastercard has launched a new initiative to promote virtual cards, using its VCN technology to simplify business payments for banks, payment platforms and large corporations. »»»
- EuroPA has integrated the Bancomat (Italy), Bizum (Spain) and MB WAY (Portugal) payment systems, allowing users in these countries to send money to one another using only a phone number. »»»
#Artificial Intelligence (AI)
- Mastercard has introduced Agent Pay, a new service that uses AI agents to automate payments. »»»
- OpenAI has added an online shopping feature to ChatGPT, expanding its practical use cases. »»»
- Tether plans to launch its own AI platform. »»»
- The UK’s Financial Conduct Authority (FCA) will develop a real-time testing service to help financial companies deploy safe and compliant AI tools. »»»
- British neobank Atom Bank has integrated an AI platform that automates credit risk assessment, customer verification and fraud prevention across its credit and savings products. »»»
- BNP Paribas will continue its collaboration with IBM Cloud to enhance its cloud infrastructure and implement generative AI across its banking operations. »»»
#Innovations, Neobanks and Open Banking
- Capgemini has launched a Know Your Customer (KYC) sandbox that allows financial institutions to shift from periodic checks to event-driven monitoring. »»»
- Greece has introduced a children’s version of its national digital wallet (Gov.gr Wallet) that offers parental controls and restricts access to age-restricted online platforms. »»»
- Customers of Dutch neobank bunq can now invest in digital assets directly within the banking app. »»»
- In August, Nigeria will become the first African country to go live with a nationwide open banking system. »»»
- The Reserve Bank of India (RBI) has opened its On Tap regulatory sandbox to fintech companies without restricting applications to specific thematic areas. »»»
- Paysend is partnering with Tink, a Visa subsidiary, to develop open banking solutions. »»»
- Revolut will begin operations in India after receiving regulatory approval to issue payment instruments and digital wallets »»». The company has also launched a loan refinancing service »»», integrated AI »»» in hiring and performance evaluations and announced plans to enter mobile telecom markets in Germany and the UK. »»»
- The Greek Orthodox Church has announced plans to launch its own neobank. »»»
#Cryptocurrencies, Blockchain, Non-Fungible Tokens (NFTs) and Decentralized Finance (DeFi)
- Coinbase will become the first crypto company to join the S&P 500 »»». The company also recently confirmed a major data breach, with estimated losses of up to USD 400 million. »»»
- Venture capital investments in crypto startups totaled USD 6 billion in Q1 2025. »»»
- Binance has integrated Apple Pay and Google Pay as options for funding euro-denominated accounts. »»»
- The UK will continue developing legislation to incorporate crypto firms into the country’s existing financial regulatory framework. »»»
- Paul Atkins, new chairman of the U.S. Securities and Exchange Commission (SEC), supports transforming financial markets by transferring stocks and bonds to blockchain platforms. »»»
- Bhutan has become the first country to launch a national cryptocurrency payment system specifically for tourists. »»»
- Visa has invested in British firm BVNK, which specializes in payment solutions based on stablecoins. »»»
- Mastercard has partnered with OKX and Nuvei to launch a global stablecoin payment system. »»»
- Kraken has launched traditional securities trading in the U.S. »»» and will also collaborate with Mastercard to develop a crypto payment solution in the UK and Europe. »»»
- The world’s largest supermarket chain, SPAR, has begun accepting bitcoin payments at a store in Zug, Switzerland. »»»
- PayPal has announced a new program for U.S. PYUSD users, allowing them to earn 3.7% interest on stablecoin balances held in PayPal and Venmo wallets starting in June. »»»
- European crypto exchange One Trading is launching a perpetual futures trading platform targeting institutional investors. »»»
- The U.S. Department of Justice plans to disband its National Cryptocurrency Enforcement Task Force (NCET), which was established in 2021 to investigate digital asset crimes. »»»
#Central Bank Digital Currencies (CBDCs)
- The European Central Bank (ECB) has introduced a new platform to facilitate collaborations with financial institutions and tech companies ahead of the digital euro launch. »»»
- The World Federation of Exchanges (WFE) has released a report examining how CBDCs could be integrated with tokenized assets. »»»
- The U.S. House Financial Services Committee has approved a bill that will prohibit federal banks from issuing or using a CBDC. »»»
- The UAE plans to roll out a digital dirham for everyday transactions by the end of the year. »»»
- The Bank of England reviewed proposals from five tech firms for an autonomous version of the digital pound and concluded that all presented shortcomings in usability and fraud prevention. »»»
- A study by Israel’s financial regulator shows that more than 50% of Israeli respondents are interested in using a digital shekel. »»»
- The world’s largest chain of convenience stores, 7-Eleven, has has launched a pilot program to accept the South Korean CBDC. »»»
#Miscellaneous
- The International Finance Corporation (IFC) has invested USD 100 million in African infrastructure operator Raxio Group to expand its network of data centers in Sub-Saharan Africa. »»»
- The European Commission (EC) will allocate EUR 1.3 billion under the DIGITAL Program (2025—2027) to support projects focused on biometric ID wallets, AI and cybersecurity. »»»
MENA Region:
- Startup funding in the MENA region reached USD 228.4 million in April, marking a 105% month-on-month increase. »»»
- The Maldives, in partnership with Dubai-based MBS Global Investments, is launching a USD 9 billion blockchain hub designed as a free financial zone focused on blockchain and digital assets. »»»
- Mastercard and PayTabs Group will jointly develop a white-label platform to help Egyptian SMEs expand digital payment acceptance. »»»
Ukraine:
- A bill to establish a national bitcoin reserve will soon be submitted to parliament. »»»
- Revolut plans to obtain a banking license in Ukraine. »»»
- The National Securities and Stock Market Commission has submitted a bill aiming to regulate the virtual asset market. »»»
- Fintech Farm, a British company with Ukrainian roots, has joined the global entrepreneur network Endeavor. »»»
Kazakhstan:
- Deputies of the Mazhilis have adopted a draft bill on AI in its first reading. »»»
- Despite increased oversight, mobile transfers rose 22.4% in Q1 2025 to KZT 40.3 trillion. »»»
- Kanysh Tuleushin, the First Vice Minister of Digital Development, Innovation and Aerospace Industry, believes that promoting mining and expanding digital asset trading will boost budget revenues. »»»
- Binura Zhalenova of the National Bank of Kazakhstan warns that the digital tenge is not a cure-all for Kazakhstan. »»»
- The grey market for cryptocurrencies in Kazakhstan exceeds USD 14 billion. »»»
- A QR code-based interbank payment service is set to launch in July. »»»
- Deputy Azat Peruashev has proposed creating a cryptobank to regulate digital currency turnover. »»»
- Fintech giant Kaspi plans to expand into Turkey »»» and also intends to raise USD 500 million through a bond issuance. »»»
- The Agency for Regulation and Development of the Financial Market has proposed new rules for mobile banking as well as the introduction of “Islamic windows” for offering Islamic finance within traditional banks. »»»
- Kazakhstan plans to launch a national crypto exchange platform. »»»
- Kazakhstan will increase oversight of bank card issuance for non-residents. »»»
Kyrgyzstan:
- The digital som is now legally recognized as an official means of payment in Kyrgyzstan. »»»
- Binance founder Changpeng Zhao has become an official adviser to President Japarov on the development of digital assets. »»»
- The National Council for the Development of Virtual Assets and Blockchain Technologies has been established. »»»
- Kyrgyzstan has introduced a gold-backed stablecoin for cross-border payments. »»»
- The Bishkek International Financial Forum will be held on May 30. »»»
- The National Investment Agency has signed a memorandum with Binance to integrate the Binance Pay system in the country. »»»
- The World Bank has allocated USD 2.7 million to Kyrgyzstan to support the development of its Digital Code. »»»
Tajikistan:
- A1 eSpace, a local startup, ranked in the top three at the Central Asian Startup Cup. »»»
- Tajikistan’s first NVIDIA GPU cluster will go live by the year’s end. »»»
- Fintech startup Alif has issued USD 5 million in Islamic sukuk bonds. »»»
Uzbekistan:
- Tencent is considering opening an office in Uzbekistan. »»» WeChat and Alipay are both already in the process of being integrated with the country’s national payment systems. »»»
- TBC Bank Group, in partnership with EBRD and IFC, has launched a holding company called TBC Digital. »»»
- Paysend users can now make instant transfers to Uzcard and Humo cards. »»»
- The Central Bank of Uzbekistan plans to implement a universal QR code for cashless payments »»» and expand access to its Instant Payment System. »»»
- Parliament has passed a new law on AI during the first reading. »»»
- The Ministry of Justice has tightened internal control rules for combating money laundering in payment services. »»»
- Fintech&Retail Central Asia has published a detailed analysis of the Uzbek market. »»»
- Ekaterina Nurmukhamedova, Head of the Training and Development Department of TBC Bank, shares her insights on corporate training systems in banking. »»»
- Paynet and MDIST have signed a memorandum of strategic cooperation to develop young talent. »»»
- Fintech expert Denis Lakomov discusses future banking transformations. »»»
- TIME Magazine has published an article on Uzbekistan’s Octobank. »»»
- Uzbekistan is working to attract international institutional players to develop its crypto market. »»»
- The Director of Humo’s Department of Strategic Business Development provides insights on digitalization trends across the public and private sectors. »»»
Azerbaijan:
- FinTech&Retail Central Asia has published a study on mobile banking trends in Azerbaijan. »»»
- The Central Bank of Azerbaijan (CBA) plans to integrate fintech firms into systemically important payment systems. »»»
- FINTEX SUMMIT 2025 will be held in Baku June 24—25, with the participation of Visa, CBA and national fintech associations. »»»
- Visa’s Regional Manager in Azerbaijan, Nurlana Hajiyeva, shared details on fintech initiatives implemented in 2024. »»»
- Uzbekistan-based venture studio Startup Garage named Azerbaijan a strategic partner in regional startup development. »»»
- S&P Global has set the baseline rating for Azerbaijan’s fintech sector at “B”. »»»
Armenia:
- Text’nPayMe founder Artur Karapetyan recently gave an interview to The Tech. »»»
- Maxim Chistyakov, Development Director at FIS Armenia, presents a case study on automating mortgage lending at a major Armenian bank. »»»
- Binance has launched a journalism competition in Armenia called CryptoScope: A Look into the Future of Finance. »»»
Georgia:
- Prime Minister Irakli Kobakhidze has announced a new startup support program that will exempt early-stage companies from income tax for the first three years. »»»
Moldova:
