55 stories from 8 sources

UPI moves toward monetization as crypto regulation stalls

Day’s Recap

Together, the decisions put payment economics in motion but preserved regulatory uncertainty around digital assets.

Supporting Articles

11:55 PMEconomic Times

Paytm, MobiKwik, Pine Labs shares rally up to 6% after govt announces UPI fees above Rs 2,000. Why brokerages are bullish

Summary

Shares of Paytm, MobiKwik and Pine Labs rose after the government announced MDR on select merchant UPI transactions above Rs 2,000. From October 15, eligible transactions will carry a 0.4% fee, capped at Rs 300 for payments of Rs 75,000 or more, prompting brokerages to raise expectations for payment-sector earnings.

The policy gives payment companies a direct mechanism to monetize higher-value UPI transactions after years

Why it matters

The new fee regime could move UPI from a scale-first model toward a monetization-driven payments market.

10:15 AMEconomic Times

New charges on UPI payments: Here's what you will be charged for stock market investments

Summary

UPI payments for capital market transactions will carry a 0.02% Merchant Discount Rate, capped at Rs 300, covering mutual funds, securities, brokers, and dealers. The cost is expected to have limited effect on long-term investors but matter more to frequent traders.

The new fee introduces a direct transaction cost into a segment of UPI use that

Why it matters

Even a small UPI fee can change economics for high-frequency retail trading and the platforms that serve it.

2:37 AMEconomic Times

Paytm shares drop 3% after govt shields UPI payments only up to Rs 2,000 from charges. Should you buy the dip?

Summary

Paytm shares fell 3% after the government directed banks and payment providers not to charge for UPI transactions up to Rs 2,000, leaving uncertainty around fees on larger payments. The decline followed a fresh 52-week high of Rs 1,840, after the stock had nearly doubled from its March low of Rs 930.6.

The immediate issue is not the 3% decline but renewed uncertainty over UPI monetization above

Why it matters

Paytm's valuation now depends heavily on whether India's UPI ecosystem evolves from a volume engine into a monetizable payments business.

5:31 PMAl Jazeera

US Senate crypto bill collapses in blow to industry

Summary

The US Senate rejected legislation intended to establish the first comprehensive federal framework for digital asset markets. The defeat deals a major setback to efforts to provide crypto firms with clearer national rules.

The collapse leaves digital asset businesses dependent on existing agency rules and enforcement actions rather

Why it matters

Without congressional action, the US crypto market remains exposed to regulatory fragmentation and political reversals.

5:31 PMFinancial Times

Landmark US crypto bill fails as Senate splits over Trump ethics concerns

Summary

A US Senate bill that would have created a broad federal framework for digital asset markets failed after lawmakers split over ethics concerns involving President Donald Trump. The defeat is a major setback for a crypto industry that spent heavily to secure clearer regulation.

The immediate change is continued regulatory uncertainty for crypto firms operating in the US. The

Why it matters

Crypto companies must plan around fragmented rules and a more politically contested path to federal market structure legislation.

4:49 PMPYMNTS

Senate Voted No on Taking Crypto Seriously. What About Wall Street?

Summary

The Senate failed to advance the Digital Asset Market Clarity Act in a 49-50 procedural vote, leaving unresolved which regulators would oversee different parts of the crypto market.

The setback weakens the case for rapid institutional expansion into crypto because firms still cannot

Why it matters

The defeat affects not only crypto startups but also banks, asset managers and exchanges seeking predictable rules for digital assets.

4:16 PMCNBC

Senate cloture vote on Clarity Act fails, dealing regulatory blow to crypto industry

Summary

The Senate blocked the Clarity Act from advancing, stopping legislation that would have created a broader regulatory framework for digital assets.

The failed cloture vote keeps crypto firms operating without a clear division of authority between

Why it matters

The vote preserves the regulatory ambiguity that has pushed crypto companies toward litigation, lobbying and offshore markets.

5:00 AMNPR Politics

A Trump-backed crypto bill just suffered a bruising defeat in the Senate. Here's why

Summary

The legislation would create a federal regulatory framework for the crypto sector, establishing rules that have been missing to date. Opponents are mobilizing, and the bill faces an uncertain path through the Senate.

The bill moves crypto policy from agency enforcement toward explicit congressional rules, which could reduce

Why it matters

The legislation could decide whether crypto grows under clear federal rules or continues operating amid regulatory ambiguity.

5 stories · 5 sources

8:01 PMFinextra

Payments infrastructure startup Fin.com emerges from stealth with $20m funding

Summary

Fin.com has emerged from stealth with $20 million to develop infrastructure for collecting, converting and moving money across borders. Its platform connects local payment rails, USD virtual accounts, Swift and stablecoin settlement.

Fin.com is targeting the fragmented infrastructure that makes cross-border payments slow and expensive. By combining

Why it matters

The funding signals continued demand for platforms that unify legacy payment networks with digital-asset rails.

6:00 AMFortune

Exclusive: Expa and Coinbase Ventures-backed Fin.com emerges from stealth with $20 million seed round to build out global stablecoin infrastructure

Summary

Fin.com has emerged from stealth with a $20 million seed round backed by Expa and Coinbase Ventures. Its payments infrastructure helps businesses convert stablecoins into funds held in local bank accounts.

Fin.com is targeting the crucial conversion point between digital dollars and traditional banking, where stablecoin

Why it matters

Stablecoin adoption increasingly depends on dependable links to local banks, making fiat settlement infrastructure a central battleground.

3:11 PMPYMNTS

Tabby Raises $230 Million to Expand BNPL Offering

Summary

Saudi Arabia-based BNPL provider Tabby raised $230 million at a $6.5 billion valuation. It will use the financing to expand across the Gulf, supported by consumer and small-business finance licenses and a stored-value license in Saudi Arabia.

The new licenses position Tabby as a broader regulated finance platform rather than only a

Why it matters

Tabby’s valuation and licenses show BNPL firms converting payment products into full-scale regional lending businesses.

1:41 PMPYMNTS

Finastra’s Private Equity Owner Mulls Sale of Financial Software Provider

Summary

Vista Equity Partners is weighing options for Finastra that could include selling the company, divesting a stake, or pursuing a merger or acquisition. The review could lead to a broader change in the ownership or structure of the U.K.-based financial software provider.

Finastra may be approaching a strategic inflection point under private equity ownership. A sale or

Why it matters

The review could accelerate consolidation in a software sector that supports critical financial infrastructure.

11:51 AMFinextra

Vista Equity explores strategic options for Finastra - Reuters

Summary

Vista Equity Partners has hired investment bankers to assess strategic options for Finastra, including a possible sale, according to people familiar with the matter.

A potential ownership change would put one of the financial software market's largest platforms in

Why it matters

A transaction could reshape competition and ownership across core banking and financial software.

2 stories · 2 sources

2:44 PMPYMNTS

Nasdaq Verafin and Stablecore Help Banks Spot Financial Crime Across Cash and Crypto

Summary

Nasdaq Verafin and Stablecore are partnering to help banks and credit unions detect financial crime across fiat and digital asset transactions. The arrangement will combine Stablecore's digital asset transaction data with Nasdaq Verafin's financial crime monitoring tools.

The key shift is that banks can monitor cash and crypto activity within a more

Why it matters

Banks can expand digital asset services with stronger controls, making integrated crypto surveillance an increasingly necessary part of financial crime compliance.

11:40 AMFinextra

Nasdaq Verafin unites with Stablecore in financial crime fight

Summary

Nasdaq Verafin and Stablecore are partnering to combine digital asset and traditional banking data, helping financial institutions detect suspicious activity across fiat and crypto transactions.

The partnership addresses a major blind spot created when institutions monitor crypto and traditional finance

Why it matters

Financial crime controls are moving toward a single view of customer activity across conventional and digital assets.

2 stories · 2 sources

8:21 PMPYMNTS

Revolut Secures Sixth Global Bank License in Colombia

Summary

Revolut received an operating license from Colombia's financial regulator, completing the regulatory requirements needed to launch as a regulated bank in the country. The approval marks the company's sixth banking license globally.

The license clears Revolut's final regulatory hurdle in Colombia and shifts its expansion from application

Why it matters

The approval gives Revolut a regulated foothold in another major market and increases competitive pressure on Colombia's banks.

4:39 PMPYMNTS

ECB Invites Merchants to Help Shape Digital Euro

Summary

The European Central Bank invited online and mobile merchants to join a digital euro pilot and test a simulated ecosystem with the ECB and euro area national central banks.

The ECB is bringing merchants into the design process before a digital euro reaches broader

Why it matters

The pilot will help determine whether the digital euro becomes a usable payment product rather than only a central bank project.

Other Developments

A curated list of other prominent stories from this day.

11:31 PMEconomic Times

Groww block deal alert: Shares fall nearly 3% after 10.07 crore shares change hands; Peak XV, Sequoia Capital likely sellers

Summary

Billionbrains Garages Ventures, Groww's parent, fell nearly 3% after 10.07 crore shares changed hands in a block deal. Peak XV Partners and Sequoia Capital were reportedly among the sellers, even as Jefferies maintained a Buy rating and pointed to upside after strong recent profit growth.

The decline reflects supply from early investors rather than a deterioration in the company's reported

Why it matters

The block deal tests whether Groww's public-market demand can absorb early-investor exits without undermining its growth valuation.

8:01 PMFinextra

ConnectPay spins off core banking technology as independent product

Summary

Lithuanian fintech ConnectPay has separated Serdis, its AWS-native core banking platform, into an independent commercial product. The platform will target electronic money institutions and other financial institutions.

ConnectPay is shifting Serdis from an internal capability into a standalone revenue line, turning infrastructure

Why it matters

Core banking systems are becoming exportable fintech products rather than proprietary tools built only for one institution.

8:01 PMFinextra

Circle, Ripple and Visa join $10 funding round for stablecoin platform Velocity

Summary

UK stablecoin startup Velocity has raised $10 million in an extension of its Series A round. Visa Ventures, Circle Ventures, Ripple, Haun Ventures, Translink Capital and Mirana Ventures participated.

The investor mix gives Velocity backing from major payments and digital-asset companies as it builds

Why it matters

Strategic investment from Visa, Circle and Ripple could accelerate stablecoin adoption in regulated payments.

6:09 PMAl Jazeera

Why is the far-right embracing crypto?

Summary

Far-right parties, activists and wealthy political backers are increasingly using crypto, including Bitcoin, to raise and move funds. The trend reflects a broader embrace of digital assets within far-right political networks.

Crypto gives these groups access to fundraising channels that can operate outside traditional financial institutions

Why it matters

Crypto's use by extremist and anti-establishment groups will intensify debates over financial access, censorship and transaction monitoring.

4:29 PMFinextra

Citing political pressure, Enova pulls Grasshopper deal

Summary

Enova withdrew its application to acquire digital business bank Grasshopper, saying the approval process was vulnerable to political pressure and outside advocacy.

The withdrawal shows that regulatory risk can now derail fintech M&A even after a buyer

Why it matters

If politically contested reviews become more common, consolidation in digital banking could slow sharply.

3:59 PMPYMNTS

Perk Brings Travel Spending Offering to US Businesses

Summary

Travel and spend management platform Perk expanded its Perk Spend product to U.S. businesses, targeting companies that spend more than $1 billion annually on work travel and team events.

Perk is entering the U.S. by combining travel purchasing with broader expense controls, a model

Why it matters

The U.S. launch tests whether a European travel fintech can win share in a crowded and higher-value business spending market.

3:54 PMPYMNTS

Split Pay Raises $125 Million to Bring BNPL to Big Expenses

Summary

Split Pay raised $125 million across Series A and Series B rounds led by Khosla Ventures, with participation from Thrive Capital and Affirm CEO Max Levchin. The lending startup plans to use the capital to extend buy now, pay later financing to larger consumer expenses.

The funding backs a shift in BNPL from small retail purchases toward higher-value transactions, where

Why it matters

BNPL investors are funding a move into larger loans, raising both the market opportunity and the cost of defaults.

2:05 PMFinextra

Wells Fargo brings international money transfers to mobile app

Summary

Wells Fargo launched ExpressSend Mobile nationwide, allowing customers to access its international money transfer service through the Wells Fargo Mobile app.

Wells Fargo is moving remittances into the primary banking interface, reducing the need for customers

Why it matters

Embedding cross-border payments in a major bank's app could shift more remittance volume toward incumbent financial institutions.

12:19 PMPYMNTS

Social Media Shapes Gen Z Credit Card Switching

Summary

Social media and influencer content are becoming important sources of credit card information for Gen Z consumers. Among Gen Z consumers who switched their primary card, 22% used organic social media or influencer content during the decision process.

Credit card acquisition is shifting toward channels where recommendations compete with traditional bank marketing and

Why it matters

Social platforms are becoming a measurable acquisition channel for credit cards and a new battleground for issuer trust.

11:39 AMFinextra

TreviPay adds e-invoicing via Dynatos

Summary

TreviPay is partnering with Dynatos to add e-invoicing capabilities for clients operating across Europe and other markets.

The partnership expands TreviPay from payment execution into the compliance-heavy workflows surrounding business invoices. Clients

Why it matters

Mandatory and increasingly digital invoicing rules are turning compliance infrastructure into a competitive feature in B2B payments.

10:38 AMEconomic Times

Digital lending platform Fibe gets Sebi nod to launch IPO

Summary

Social Worth Technologies, the parent of digital lending platform Fibe, has received approval from Sebi for an IPO targeting Rs 750 crore through a fresh issue, alongside an offer for sale by existing shareholders.

The fresh capital is intended primarily to expand Fibe's lending capacity, giving the platform more

Why it matters

Fibe's listing would give Indian digital lending a public-market valuation benchmark and new capital for expansion.

3:05 AMCNBC

U.S. seeks to seize $61 million of crypto it claims are proceeds from Iranian petroleum sales to Chinese buyers

Summary

U.S. authorities are seeking to seize $61 million in cryptocurrency allegedly tied to Iranian petroleum sales to Chinese buyers. They claim two Chinese companies used Binance trading accounts to launder the proceeds and move funds to Tehran or its proxies.

The case extends sanctions enforcement into crypto infrastructure, with authorities targeting both the funds and

Why it matters

Crypto transactions remain traceable enough for authorities to pursue seizure, raising compliance risks for platforms serving cross-border businesses.

12:00 AMFinancial Times

How Poland lost $230mn trying to buy Venezuelan oil with crypto

Summary

Poland lost $230mn in an attempt to use digital currencies to buy Venezuelan oil. The failed trade became one of the country’s biggest financial scandals.

The decisive failure was not the crypto technology itself, but the decision to use it

Why it matters

Crypto can change how money moves, but it does not make risky counterparties or opaque deals safer.

Make it yours

Build Your First Pass.

Pick your topics, set your cadence, and receive your personalized First Pass in your inbox. It’s that simple!