BFC FinTech Monitor (January – February 2026)

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

• KPMG’s Pulse of Fintech H2 2025 report found that global fintech investment recovered to $116 billion in 2025, driven by greater regulatory clarity in the United States, surging interest in stablecoins, and increased activity from institutional players. »»»
• Capgemini’s World Payments Report 2026 found that fintech platforms are rapidly outpacing traditional banks in the adoption of digital currencies and stablecoins, warning that incumbent players risk losing their leading role in the payments sector without fundamental transformation. »»»
• International law firm Taylor Wessing published its Fintech Outlook 2026, examining key regulatory shifts across the EU, UK, and the United States. »»»

#Payments & Neobanking

• Visa announced integration of Tap to Pay on iPhone into its Visa Acceptance Platform. »»»
• Mastercard launched a new service for banks and retailers aimed at expanding payment acceptance and transaction management capabilities. »»»
• Mastercard struck a partnership with Ericsson to integrate their telecom and payments infrastructure for optimised global digital money movement. »»»
• Revolut unveiled a new anti-fraud tool to tackle impersonation scams. »»»
• Revolut confirmed plans to apply for a standalone banking licence in the United States. »»»
• Revolut also announced plans to invest nearly $400 million in its Australian operations over the next five years. »»»
• PayPal joined Google’s Universal Checkout Protocol (UCP), enabling its payment services to be used within Google Search AI interfaces and the Gemini app. »»»

#Artificial Intelligence (AI)

• Surging AI demand for memory chips is fuelling a growing hardware shortage that threatens to slow the global technology sector’s development, Bloomberg reported. »»»
• HSBC announced a pilot programme to deploy a specialised AI platform within its in-house legal department. »»»
• Major global banks have begun reducing their reliance on OpenAI as a sole provider of large language models. »»»
• Sixteen global technology leaders, including Microsoft, Google Cloud, Ericsson, SAP, and Anthropic, announced at the Munich Security Conference the launch of the Trusted Tech Alliance, establishing common standards for transparency, data protection, and cybersecurity. »»»
• Spain’s BBVA became the first major financial institution to launch a dedicated app inside ChatGPT, rolling it out for users in Germany and Italy as part of a strategic partnership with OpenAI. »»»
• Revolut Pay joined Google’s agentic commerce protocol, enabling payments to be executed through AI agents within the Google ecosystem. »»»
• Mastercard and Visa enlisted banks DBS and Westpac for the first AI-powered agentic payment pilots in the Asia-Pacific region and New Zealand. »»»
• Mastercard also unveiled its Agent Suite toolkit for developing and deploying AI agents across the enterprise segment. »»»
• Goldman Sachs announced the deployment of autonomous AI agents powered by Anthropic’s Claude model for internal accounting and financial operations. »»»
• Square introduced a personal AI data assistant embedded directly into its Square Dashboard, designed to help small and medium-sized businesses shift to data-driven strategy. »»»
• Microsoft announced partnerships with PayPal, Stripe, and Shopify for the launch of Copilot Checkout, an AI-assisted shopping and payments feature. »»»

#Crypto, Blockchain & DeFi

• BlackRock invested over $654 million in bitcoin and ether through spot ETFs in the first week of March, amid a recovery in institutional demand for crypto assets. »»»
• Crypto exchange Kraken became the first digital asset firm to obtain direct access to a master account at the U.S. Federal Reserve. »»»
• Wirex launched an instant stablecoin push-to-card service via Visa Direct infrastructure, reaching over three billion cards across more than 200 countries. »»»
• Asian regulatory hubs have overtaken the West in advancing stablecoin rules and on-chain retail payment adoption, reshaping the geography of global crypto finance. »»»
• Morgan Stanley filed an application with the U.S. Office of the Comptroller of the Currency for a national trust bank charter to custody, trade, and stake digital assets. »»»
• A Bloomberg Intelligence strategist warned that bitcoin’s decline may be an early signal of an approaching recession and the end of the ‘buy the dip’ playbook. »»»
• Binance founder Changpeng Zhao identified three emerging areas of crypto development he believes will define the industry’s next growth phase. »»»
• Barclays has begun building its own blockchain infrastructure for payments and stablecoins. »»»
• Ripple outlined the key trends shaping crypto markets in 2026: stablecoins, real-world asset tokenisation, and institutional adoption of digital finance. »»»
• Robinhood launched a public testnet for its own Layer-2 network, built on Arbitrum, enabling 24/7 trading of tokenised stocks and decentralised financial products. »»»
• TON Foundation unveiled TON Pay, a payments SDK for embedding crypto transactions — including Toncoin and USDT — into Telegram mini-apps, with fees below one cent per transaction. »»»
• SWIFT announced plans to build a shared blockchain ledger for tokenised asset transactions, seeking to preserve its central role in global financial infrastructure. »»»
• Crypto network Mesh achieved unicorn status amid growing demand for digital asset management infrastructure. »»»
• Visa and BVNK launched cross-border stablecoin payouts via Visa Direct. »»»
• South Korea lifted its eight-year ban on corporate crypto investment, opening the market to institutional participants. »»»
• Stablecoin infrastructure platform Rain raised $250 million in new funding. »»»

#Central Bank Digital Currencies (CBDCs)

• Seventy economists and policy experts, including Thomas Piketty, wrote an open letter to Members of the European Parliament urging support for the digital euro as a public good, warning of the risks of eroding Europe’s monetary sovereignty. »»»
• The European Parliament backed the concept of issuing the digital euro in both online and offline formats. »»»
• The European Third-Party Payments Providers Association (ETTPA) criticised the EU’s excessive focus on the digital euro project at the expense of broader payment sovereignty. »»»
• BRICS nations are accelerating the development of a dollar-alternative settlement system based on central bank digital currencies and the BRICS Pay platform. »»»
• China’s digital yuan has been reclassified as deposit money, with the e-CNY now able to earn interest through tokenised bank deposits. »»»

MENA Region:

• NymCard and Visa launched USDC-based stablecoin settlement in the GCC, enabling round-the-clock transactions without pre-funding. »»»
• Qatar announced a $3 billion fund of funds, a package of AI initiatives, and a 10-year residency programme for tech entrepreneurs at Web Summit Qatar 2026 in Doha. »»»
• The Central Bank of Jordan mandated all banking institutions to accept the Sanad biometric digital ID as a full legal equivalent of a physical identity document for financial transactions. »»»
• The Central Bank of the UAE granted RAKBank preliminary approval to issue a dirham-backed stablecoin on a 1:1 basis. »»»
• The UAE, Qatar, and Bahrain have adopted distinct regulatory frameworks for crypto assets in 2026: Dubai is introducing fines of up to one billion dirhams, while Qatar is only beginning to open its market for asset tokenisation under the new DAR framework. »»»
• Morocco is emerging as North Africa’s new fintech hub: startups Yakeey, Chari, and ORA Technologies raised a combined $34 million in early 2026, supported by a government programme targeting 1,000 certified startups. »»»

Ukraine:

• Ukraine Fintech Week is set to launch on 16 March. »»»
• Monobank launched a pilot investment feature offering foreign-currency government bonds yielding 3.7% in U.S. dollars and 2.8% in euros, with full liquidity maintained. »»»
• Ukraine’s Ministry of Digital Transformation revealed the timeline and parameters for launching a national large language model. »»»
• An Estonian fintech company announced plans to enter the Ukrainian market by acquiring a banking licence. »»»
• Ukraine’s startup fund recorded structural shifts in the ecosystem: a growing focus on hardware, defence tech, and integration into European innovation programmes. »»»

Kazakhstan:

• Kazakhstan is positioning itself as Eurasia’s next crypto hub, Euronews reported. »»»
• Kazakhstan plans to introduce a universal QR code for all cashless payments. »»»
• The Agency for Regulation and Development of the Financial Market (ARDFM) approved a major overhaul of prudential requirements and limits for Islamic banks. »»»
• The share of cashless transactions in Kazakhstan has exceeded 87%. »»»
• Singapore-based fintech company 8B announced its entry into the Kazakh market. »»»
• An action plan has been developed to transfer public finance operations onto the digital tenge. »»»
• Kazakhstan published its first national AI development report. »»»
• Kazakhstan introduced strict oversight of digital asset custody, requiring crypto custodians to submit comprehensive reporting to regulators. »»»
• Implementation of the Year of Digitalisation and Artificial Intelligence programme has begun. »»»
• Forbes Kazakhstan examined how fintech will reshape the country’s labour market in 2026. »»»
• Fraudsters have ramped up activity exploiting the digital tenge rollout to deceive Kazakhstani citizens. »»»
• The National Bank of Kazakhstan is developing a legal framework for a crypto reserve. »»»
• The National Bank, jointly with the ARDFM, plans to introduce reporting requirements for digital financial assets. »»»
• Kazakhstan’s Bureau of National Statistics is transitioning to AI and big data for official statistical work. »»»
• A pilot project to test a VAT-tagged digital tenge for public procurement participants has been launched. »»»
• Hong Kong-based AI solutions provider Liasail Global Hong Kong Limited will deploy computing capacity in Kazakhstan through the Akashi Data Center. »»»

Kyrgyzstan:

• Binance and MEGA announced a strategic partnership to develop the crypto ecosystem in Kyrgyzstan. »»»
• A draft law has been developed to allow electronic money to be included in inheritance estates. »»»
• Kyrgyzstan’s virtual asset market exceeded 2.7 trillion soms in turnover in 2025. »»»
• Fintech company Mountain Wolf opened an office in Bishkek. »»»

Tajikistan:

• The National Bank of Tajikistan plans to deploy automated teller machines for buying and selling gold bullion within the year. »»»
• Tajikistan launched its first AI project hub, Area AI 1.0. »»»
• Satellite internet service Starlink became available in Tajikistan. »»»
• AI company Zehn received $300,000 in seed investment to launch the Area AI project in Dushanbe. »»»

Uzbekistan:

• The international PLAS Forum Digital Uzbekistan will take place in Tashkent for the sixth time. »»»
• Uzbek authorities plan to ease data localisation rules to enable the launch of PayPal and Google Pay in the country. »»»
• The upper house of parliament approved a law introducing Islamic banking in Uzbekistan. »»»
• Halyk Bank and Tenge Bank launched acceptance of Uzbek HUMO cards in Kazakhstan. »»»
• Nexus Capital Management, a business angel club supporting regional and global startups, opened in Tashkent. »»»
• Uzbekistan’s HUMO payment system signed a memorandum of understanding with Turkey’s BKM TROY network, enabling future HUMO card payments in Turkey via the TROY terminal network. »»»
• HUMO also integrated the Rahmat ecosystem, enabling unified QR codes and POS solutions for merchants. »»»
• HUMO received a Mastercard award for sustained partnership and contributions to the digital payments ecosystem. »»»
• London-based TBC Bank is exploring an IPO for its digital business in Uzbekistan. »»»
• Total venture investment in Uzbek startups reached $329 million in 2025, a 5.2-fold increase year-on-year. »»»
• Uzbekistan’s National Agency of Perspective Projects (NAPP) will apply reasoned judgment in the licensing of crypto service providers, alongside formal legal requirements. »»»
• The NAPP also published market data: Uzbekistan has three crypto exchanges, 12 crypto shops, and six depositories operating as of 2025. »»»
• Uzbekistan’s AI and Digital Economy Development Centre and the Central Asian Fintech Association signed a memorandum of cooperation. »»»
• Uzbekistan entered the global top 100 of the StartupBlink Global Startup Ecosystem Index for the first time in 2025, recording a quality leap of over 132%. »»»
• Uzbekistan plans to increase venture investment in startups to $2 billion by 2030. »»»
• The Fintech Association of Uzbekistan and KPMG Türkiye announced the results of WERISE: Pioneers of Digital Finance 2026, selecting six promising fintech projects. »»»
• Uzum reported a net profit of $176 million for 2025; its fintech vertical was the fastest-growing, with turnover tripling to $1.2 billion. »»»
• A Tashkent economic court declared the owner of payment system UPay bankrupt. »»»
• Uzbekistan’s NAPP and the Central Bank of Azerbaijan signed a memorandum of understanding on cooperation in financial markets. »»»
• Asia Alliance Bank launched ATMs with facial recognition functionality. »»»
• UZCARD and AI company darya.ai signed a strategic partnership to integrate AI technologies into Uzbekistan’s payment infrastructure. »»»

Azerbaijan: 

• Azerbaijan ranked 46th in the Global Islamic Fintech Index. »»»
• The International Finance & Banking Summit 2026 will take place in Baku on 9–10 June. »»»
• The Central Bank of Azerbaijan outlined its priorities for 2026: open banking development, instant payment infrastructure, and crypto market regulation. »»»
• Azerbaijan will accelerate payments digitalisation with a focus on small businesses and consumers, according to a joint report by the Central Bank and Mastercard. »»»
• Improved regulation, expanded government support for innovation, and deeper cooperation with financial institutions are the key conditions for Azerbaijan’s fintech ecosystem to reach the next stage of development, according to an Asian Development Bank report. »»» 

Armenia:

• Armenia is ready to become a digital and trade hub between Europe and Eurasia, but the UK is missing the opportunity, according to FinTech Armenia platform founder Stefan Lucas. »»»
• The FINTECH360 international conference will be held in Yerevan on 27–29 April. »»»
• Armenia’s leading fintech company Idram announced a strategic partnership with China’s Weixin Pay (WeChat Pay). »»»
• Kursiv Research published its first overview of Armenia’s financial sector. »»»

Georgia:

• Epoint became the first Azerbaijani fintech company to enter the Georgian market. »»»
• Georgia has not yet committed to collecting crypto transaction data under the OECD’s CARF tax reporting framework. »»»
• Crypto exchange Bybit, backed by Mastercard, launched the Bybit Card in Georgia. »»»
• Georgian mining companies tripled their electricity consumption over the past year, according to the country’s National Energy and Water Supply Regulatory Commission (GNERC). »»»
• Georgia has made notable progress in financial inclusion through fintech development, but access to finance remains a key constraint for businesses, according to an Asian Development Bank report. »»»

Moldova:

• Moldova’s National Financial Market Commission (CNPF) warned of fraudsters increasingly using AI and deepfakes to target retail investors. »»»
• A Digital Innovation Support Fund for tech startups is being established in Moldova. »»»
• The OSCE and the National Bank of Moldova conducted a joint workshop on crypto asset regulation. »»»
• Moldova Innovation Technology Park crossed a symbolic milestone: resident companies’ combined revenue reached $1 billion in 2025. »»»
• Fintech Future Conference 3.0 will be held at Tekwill on 17 March. »»»
• World Bank representative in Moldova Ulrich Schmitt spoke about how fintech is helping to fight poverty in the country. »»»