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
- A study by the World Economic Forum highlights macroeconomic risks as the primary factor shaping fintech development. »»»
- The European Card Payments Association (ECPA) has released a report emphasizing the need to bolster the EU’s payment autonomy. »»»
- Research by DECTA has found that most digital banking users rely on multiple financial apps because their primary service lacks key functionalities. »»»
#Payments
- Mastercard reports that approximately 50% of its transactions in Europe are now tokenized. »»»
- The first pan-African card system (The Password) has officially launched. »»»
- PayPal has introduced its first physical credit card. »»»
- Walmart, one of the world’s largest retailers, is launching its own credit cards. »»»
#Artificial Intelligence (AI)
- Google’s DeepMind has unveiled a new AI model capable of operating offline. »»»
- Stripe has launched the world’s first AI solution specifically for payments. »»»
- Finastra will integrate generative AI features into its mortgage platform, Filogix Expert Pro. »»»
- Revolut is testing an AI assistant designed to help users manage their personal finances. »»»
- Klarna plans to introduce a comprehensive super app with AI features »»» and is launching mobile plans with unlimited data, calls and texts for $40 per month. »»»
- The Bank for International Settlements (BIS) and the Bank of England have tested AI tools for detecting criminal activity in retail payment data. »»»
- BridgeWise is preparing to launch Signal, an AI-driven platform offering real-time personalized market alerts and investment insights. »»»
- Fintech firm Liberis has developed Ada, an AI-powered virtual assistant for credit underwriting. »»»
#Innovations, Neobanks and Open Banking
- According to a Cambridge Centre for Alternative Finance (CCAF) report, more than half of Asia-Pacific countries have implemented open banking regulations. »»»
- The British Parliament has passed a data bill paving the way for broader open banking applications across energy, finance, telecom and retail spaces. »»»
- Mastercard and Deutsche Bank aim to expand open banking payments across Europe. Mastercard is also partnering with CIBC to launch a tactile Touch Card to assist Canadian customers with visual impairments. »»»
#Cryptocurrencies, Blockchain, Non-Fungible Tokens (NFTs) and Decentralized Finance (DeFi)
- Vincent Mortier, Chief Investment Officer at Amundi, warns that stablecoins could evolve into “pseudo-banks,” posing risks to global payment stability. »»»
- Bybit and OKX have launched crypto exchanges in the EU that comply with the Markets in Crypto-Assets Regulation (MiCA). »»»
- Experts at a World Trade Centers Association (WTCA) forum highlight how blockchain and Web3 are reshaping global real estate by driving innovation and new investment models. »»»
- Ripple CEO Brad Garlinghouse predicts that the stablecoin market could expand nearly tenfold within a few years. »»»
- Chainlink and Mastercard have partnered to enable payment cardholders worldwide to purchase cryptocurrencies by converting fiat into crypto. »»»
- JPMorgan Chase and Coinbase have initiated a pilot to issue tokenized dollar deposits (JPMD). JPMorgan also launched bitcoin ETF-backed lending. »»»
- Ant Group plans to integrate USDC into its international money transfer system. »»»
- Binance founder Changpeng Zhao has proposed that crypto platforms introduce inheritance tools for digital assets. »»»
- Mastercard intends to incorporate Fiserv’s FIUSD stablecoin into its products. »»»
- Sam McIngvale of OP Labs predicts that, within five years, every crypto exchange and fintech company will operate its own blockchain. »»»
- Visa reports major progress with stablecoins and expanding payment options across Central and Eastern Europe, Africa and the Middle East. »»»
- The UK tax authority (HMRC) will start tracking crypto owners for tax purposes. »»» Additionally, Barclays plans to block crypto transactions made with its cards. »»»
- Coinbase has secured a license in Luxembourg to offer crypto services throughout the EU. »»»
- Pakistan’s government has approved the creation of the Virtual Assets Regulatory Authority. »»»
- Uber intends to use stablecoins for cross-border payments. »»»
- Revolut plans to restart »»» its crypto services in the US and is also launching ISA investment accounts and access to ETFs. »»»
- German fintech Ivy has integrated Circle’s USDC and EURC stablecoins into its payment infrastructure. »»»
- Turkey’s finance ministry plans to require crypto platforms to collect detailed transaction data and impose restrictions on stablecoin transfers. »»»
#Central Bank Digital Currencies (CBDCs)
- The European Central Bank (ECB) plans to roll out the digital euro in Q4 2025. »»»
- The People’s Bank of China aims to increase the global use of the digital yuan. »»»
- Bank of England Governor Andrew Bailey has expressed uncertainty over the need for a digital pound. »»»
- Australia will conduct a six-month CBDC pilot under Project Acacia. »»»
- South Korea’s central bank has paused its CBDC project amid the president’s push to bolster private stablecoins. »»»
- Japan’s central bank has no immediate plans to introduce a CBDC, according to Governor Kazunari Kamiyama. »»»
- India’s central bank is expanding CBDC pilots and adding new features. »»»
#Miscellaneous
- Mastercard has launched its Security Solutions program to support cybersecurity startups. »»»
- The UK Financial Conduct Authority (FCA) is scrutinizing “finfluencers”, social media personalities who promote financial products and give investment advice. »»»
MENA Region:
- Mastercard has opened a cyber resilience center in Saudi Arabia. »»»
- Qatar Islamic Bank (QIB) and Visa will roll out the B2B Connect platform, enabling secure cross-border payments in 120 countries for QIB corporate clients. »»»
- The MENA Financial Technology Association (MFTA) has launched a Turkish branch. »»»
- First Abu Dhabi Bank (FAB), Oracle and Mastercard have started a pilot for virtual corporate cards. »»»
Ukraine:
- Open banking will officially launch in Ukraine on August 1, 2025. »»»
- Ukraine is set to become the first European country to offer Starlink mobile internet, according to Kyivstar CEO Oleksandr Komarov. »»»
- The National Bank of Ukraine’s board has approved a white paper on ESG risk management. »»»
- Ukraine’s parliament is reviewing a bill to establish a national bank account register. »»»
- The Ministry of Digital Transformation and the Ukrainian Startup Fund have launched a regulatory sandbox for testing AI and blockchain solutions. »»»
- Ukraine has been featured in the Global Startup Ecosystem Report 2025. »»»
- Ukrainian trader Max Hamakha has become the world’s first live crypto trading champion. »»»
- The Diia app will soon »»» include an AI-based virtual assistant and aims to evolve into a marketplace. »»»
- Ukrainian startups Haiqu and Respeecher were named among the world’s top 100 most promising tech firms by the World Economic Forum. »»»
- Monobank is testing a web version of its own marketplace (Market). »»»
Kazakhstan:
- Kazakhstan’s President has signed a law allowing insurers to set up marketplaces and invest in IT firms. »»»
- The National Bank of Kazakhstan has drafted rules to create a regulatory sandbox for digital assets and payment services. »»»
- The Alemcloud National Supercomputer Center has officially launched its NVIDIA H200-based supercomputer. »»»
- The National Bank of Kazakhstan has announced plans to issue crypto payment cards and pilot other digital asset initiatives. »»»
- Kazakhstan has signed a memorandum of understanding with the Solana Foundation to develop a special blockchain economic zone. »»»
- Digital Minister Zhaslan Madiyev shared plans for CryptoCity, a free crypto circulation zone unveiled by the President. »»»
- Elena Bakhmutova of the Association of Financiers of Kazakhstan sees joint digital initiatives as a path to make the Caspian region a digital finance hub. »»»
- Bybit Kazakhstan and Bank CenterCredit have launched a direct fiat channel for deposits and withdrawals in KZT. »»»
- President Tokayev has announced upcoming rules for digital asset circulation, including cryptocurrencies and tokenized assets. »»»
- A joint report by the EDB, Islamic Banking Institute and London Stock Exchange Group suggests Kazakhstan could become Central Asia’s hub for Islamic finance. »»»
Kyrgyzstan:
- Binance’s user base in Kyrgyzstan has grown 2.5 times over two years, with trading volumes tripling. »»»
- The first national AI platform in the Kyrgyz language (Aitil) is now operational. »»»
- Eldik Bank has launched ElPost, a digital marketplace to help small- and medium-sized enterprises (SMEs) expand online. »»»
- DemirBank (Kyrgyzstan) and Uzum Bank (Uzbekistan) have agreed to jointly develop advanced, secure financial services for Central Asian residents. »»»
- Kyrgyz startups will gain access to preferential loans under a new state program to support SMEs. »»»
Tajikistan:
- Tajikistan has launched the region’s first AI cluster and tech park under its National AI Strategy. »»» Additionally, the Minister of Industry and New Technologies of Tajikistan, Sherali Kabir, has held talks with UAE’s Presight and the US’s Scale AI on AI initiatives. »»»
Uzbekistan:
- Uzbek residents can now use paid government services directly through banking and finance apps. »»»
- Imkon Ventures, Uzbekistan’s first private tech-focused venture fund, has begun operations. »»»
- Wildberries executive Artem Feoktistov highlighted Uzbekistan’s fintech growth potential, citing its digital maturity and supportive regulations. »»»
- Freedom Pay has joined the Central Asian Fintech Association (CAFA). »»»
- Humo has issued a secured token linked to Uzbekistan’s government bonds. »»»
Armenia:
- Armenian fintech Idram and Alipay+ have launched a cross-border QR payment service. »»»
- Web3 Armenia co-founder Artem Harutyunyan warned that a draft crypto assets law could devastate the industry. »»»
- Ameriabank is now the first in Armenia to offer clients direct AMXTrader access via its MyInvest platform. »»»
- Armenia’s new AFM.am platform helps consumers compare and choose banking services. »»»
Georgia:
- Bitget will begin operations in Georgia under the Tbilisi Free Zone. »»»
- Azerbaijan’s central bank delegation visited Tbilisi to discuss integrating AI into financial supervision with Georgian regulators. »»»
Moldova:
- Moldova’s largest bank, maib, has partnered with Estonian startup Tuum to expand into the Romanian market. »»»
