01
SoFi launches consumer tokenized deposit product SoFi Earn
It shows a U.S. bank pushing tokenized deposits to retail users as a bridge between insured bank money and always-on digital-asset rails.
Daily edition
Fintech / Payments Brief
Material developments in payments, digital finance and regulation, selected for an HKMA audience.
5 stories
Today’s brief
02
State regulators split over whether Treasury should grant a stablecoin safe harbor before the GENIUS Act takes effect
If Treasury does not create a workable transition for state regimes, stablecoin issuers may be pushed toward the federal licensing path, reshaping competition and supervisory control in the U.S. market.
03
TerraPay Verify integrates with Kinexys by J.P. Morgan’s Liink network for global payee verification
The tie-up broadens pre-payment payee verification across bank accounts and wallets, which can help cross-border payment providers cut fraud, failed transfers and repair costs before funds are sent.
04
Boerse Stuttgart’s Seturion secures EU DLT trading-and-settlement licence amid debate over pilot-regime caps
This is a concrete step toward regulated tokenized trading and settlement infrastructure in Europe, but commercial viability may still hinge on whether EU lawmakers materially relax the regime’s volume caps.
05
Coinbase Ireland fined €3.25m by Irish central bank over e-money control failings
The case shows that regulators are scrutinising the payments and e-money controls around crypto groups’ fiat operations, with governance and outsourcing weaknesses carrying tangible enforcement risk.