The FCA's Stablecoin Sprint concludes stablecoins are best suited for cross-border payments, especially in emerging markets, but face slower adoption in UK retail due to existing efficient payment systems.
PayPal reports Q2 earnings of $1.26 per share, below estimates, with revenue up to $8.68 billion. Strategy focuses on stablecoins, AI-driven payments, and expanded payment network capabilities.
A Federal Court judge has criticized Maurice Blackburn Lawyers for delaying compensation to 1,820 former Qantas workers. The court will now deal with the request for more time on August 6.
Visa plans to lay off about 7% of its workforce (≈2,600 positions), primarily in tech and product ops, to streamline and invest in growth areas like AI, affluent customer services, and cross-border payments.
KB Kookmin Bank to introduce blockchain-based cross-border payment service via JPMorgan's Kinexys network in August, initially supporting USD transfers across 10 countries.
Comparison of ProWritingAid and Grammarly, two popular grammar-checking tools, highlighting their features, pricing, pros, and cons to help users decide which suits their writing needs best.
Ten EU countries, including France, Italy, and Spain, are opposing the European Commission's plan to link €2 trillion budget payments to policy overhauls like raising the retirement age. This conditionality, tested in the RRF, faces pushback from both major contributors and net recipients, sparking a new battleground in budget negotiations.
The Bank of the Philippine Islands (BPI) plans to pilot a stablecoin-based settlement system for cross-border payments to freelancers and overseas workers, developed with Meridian. This initiative aims to reduce costs and processing times for inbound funds, converting stablecoins to pesos before crediting BPI accounts.
Samsung Electronics announced plans to integrate stablecoins into Samsung Wallet, expanding its functionality beyond traditional payments to include digital assets. This move, revealed at the Galaxy Unpacked showcase, aims to make Samsung a leading mobile brand for digital value transfers, building on its 2025 partnership with Coinbase for crypto purchases in the US.
CT Group, a lobbying firm co-founded by Lynton Crosby, faces widespread condemnation and calls for transparency after a Guardian investigation revealed it secretly paid journalists for articles favorable to its clients. MPs and transparency campaigners denounce the practice as an "attack on democracy" and demand an overhaul of lobbying regulations.
The EU unveiled its largest sanctions package in four years against Russia, leading FIDE President Arkady Dvorkovich to suspend his activity. The measures target 218 individuals and entities, including banks, vessels, and military-industrial complex, while Ukraine faces ongoing attacks.
Coinbase is expanding its AI-powered finance offerings, enabling businesses to accept USDC payments from autonomous AI agents via the x402 standard and introducing new AI trading and developer tools to support the "agentic economy."
Three US law firms are investigating HDFC Bank for alleged federal securities law violations. This follows claims that the bank disguised ₹45 crore in payments to MSRDC as marketing expenses, causing HDFC Bank's NYSE-listed shares to drop.
Kakao Group, including Kakao Pay and Kakao Bank, signed an MOU with Circle Internet Group to explore won-backed stablecoin payments and cross-border remittances in South Korea, anticipating upcoming crypto regulations.
Seoul's mayor was convicted for illegal polling payments, potentially ending his presidential ambitions and leading to his removal from office if the Supreme Court upholds the verdict, just weeks after winning a fifth term.
The UAE's Ministry of Human Resources and Emiratisation (MoHRE) has introduced a new payment option via Tabby, allowing customers to pay service fees and administrative fines in instalments over 4-12 months, up to AED 20,000. This initiative, available on digital platforms, aims to enhance service efficiency and payment flexibility, complementing existing credit card instalment plans with eight approved banks.
Franklin Templeton's head of digital assets, Sandy Kaul, asserts that AI agents will significantly boost demand for blockchain and cryptocurrency due to their need for rapid, low-fee micropayments. Legacy card networks are deemed unsuitable for this agentic economy, a view echoed by payments giant Visa and investment platform Artemis.
The Trump administration deferred over $1 billion in Medicaid payments to California and Minnesota, citing suspected fraud and noncompliance. Health Secretary Robert F. Kennedy Jr. stated this is part of a strategy to prevent fraud, while Democratic governors accused the administration of political targeting.
Augustus, a startup building a federally chartered clearing bank for stablecoins and programmable money, raised $180 million in a Series B round, valuing the company at $1 billion. The funding, led by Tiger Global, follows its conditional approval for a U.S. national bank charter.
A cross-party group of UK lawmakers has initiated a parliamentary inquiry into the banking challenges faced by the country's crypto industry. The probe aims to understand why firms struggle with bank accounts and why banks restrict crypto-related payments, assessing if these barriers undermine the UK's goal to be a digital assets leader.
Ant International, an affiliate of Chinese fintech giant Ant Group, has raised approximately US$1.2 billion in a Series A funding round. The Singapore-based company, backed by Ant Group and Alibaba, plans to use the capital to accelerate global expansion and drive innovation in merchant payments and financial services.
Central Queensland University (CQU) has paid $1.3 million in underpaid entitlements to over 1,000 current and former staff, dating back to 2012. The university self-reported the discrepancies to the Fair Work Ombudsman, blaming payroll system issues and manual errors, and has signed an enforceable undertaking.
Nearly half of companies targeted by ransomware pay ransoms, with demands rising, according to Sophos research. While the UK government plans to ban public sector payments, cybersecurity experts debate the effectiveness and potential harm of such prohibitions, as AI tools escalate attack sophistication.
Cryptocurrency wallet company Exodus announced a 25% workforce reduction to restructure its cost base and align with its strategy to build a full-stack card issuance and payments platform. This follows recent acquisitions and is projected to yield $10M-$13M in annual savings by 2027, with $2.5M-$3.5M in pre-tax charges.
