Payoneer Files Application for U.S. National Trust Bank
Weekly news up to Thursday, 26th of February 2026.
Hey FinTech Fanatic!
This last week, I covered another signal that stablecoins are moving closer to regulated banking infrastructure in the US.
Payoneer has filed an application with the OCC to establish PAYO Digital Bank, N.A., a national trust bank intended to support stablecoin-enabled infrastructure for global businesses.
On the surface, it’s a charter application.
Zoom out, and it’s more strategic.
Payoneer isn’t launching a token. It’s building a regulated wrapper around stablecoin capabilities inside its existing cross-border ecosystem. That’s a very different posture. It signals confidence that stablecoins are shifting from experimental rails to operational tools for real-world trade.
When a public cross-border payments company seeks a national trust structure to anchor stablecoin activity, the message is clear.
Stablecoins are no longer sitting at the edge of Payments. They’re being positioned inside supervised financial architecture.
Curious what else is shifting across FinTech, Payments, and Digital Banking in the US? Scroll down 👇
Cheers,
👀 NEWS HIGHLIGHT
With its official launch, RemotePass addresses long-standing issues with expense management for multinational companies by being the first global payroll platform to provide expense cards developed particularly for remote workers working across borders.
NOW, ON TO THE SUMMARY OF LAST WEEK’S NEWS
🇺🇸 NATIONAL HIGHLIGHTS
⭐️ Mark Zuckerberg's Meta is planning a stablecoin comeback in the second half of this year. Meta is planning to integrate a vendor to help administer stablecoin-backed payments and implement a new wallet. Meta has sent out a product request (RFP) to third-party firms and mentioned Stripe as a likely candidate for piloting Meta’s stablecoin.
⭐️ Payoneer files application for U.S. National Trust Bank charter to strengthen regulated financial infrastructure for global businesses. This application is a critical next step in Payoneer's strategy to integrate stablecoin capabilities into its global payments ecosystem, connecting stablecoin efficiency to the local economies where nearly two million customers operate.
⭐️ Zycus launches Zycus Pay in partnership with TransferMate to deliver embedded B2B payments. Zycus Pay allows customers to pay suppliers in more than 140 currencies across 200+ countries and territories through multiple methods, including Instant, ACH, Same-Day ACH, Domestic Wire, and International Wire.
⭐️ BitGo named Issuer of FYUSD, bringing U.S.-aligned stablecoin standards to Asia. FYUSD is structured in alignment with the GENIUS Act framework and is intended to provide institutional users with a dollar-backed stablecoin that emphasizes transparency, reserve protection, and operational compliance.
FINTECH
FinTech Clear Street withdraws US IPO filing amid market volatility. Clear Street slashed its targeted raise and price range, as Wall Street brokerages were swept up in a broad selloff on fears AI could upend their business models. Read more
PayPal data breach confirmed, money was stolen, and passwords have been reset. Some PayPal users have started to receive emails from the company confirming a data breach that exposed personal information to a threat actor who gained access to PayPal’s systems, leading to some seeing unauthorised transactions on their accounts and having their passwords reset.
PAYMENTS
Tether’s USDT set for biggest monthly retreat since FTX collapse. The total amount of Tether’s USDT in circulation has fallen by about $1.5 billion so far in February, according to Artemis Analytics. The drop follows a smaller contraction in January and puts the stablecoin on track for its biggest monthly decline since December 2022.
REGTECH
FIS launches 24/7 AI assistant to ease risk models management. The FIS Insurance Risk Suite AI Assistant acts as an always-available expert, eliminating hours of manual searching and helping actuaries build resilient models. Read more
DIGITAL BANKING
Anchorage Digital launches stablecoin solutions for banks to modernize cross-border USD settlement. Stablecoin Solutions for Banks is a purpose-built offering under U.S. federal oversight for licensed international banks to access secure, efficient U.S. dollar cross-border transfers and settlement using stablecoin rails.
State Bank of Texas launches new digital banking platform powered by Alkami. Customers now have access to features like mobile check deposit, real-time alerts, card controls, and straightforward tools for business banking, making it easier to bank securely and stay in control.
Jamie Dimon, JPMorgan Chase & Co. CEO, sees parallels to the pre-crisis era. Dimon said he's starting to see parallels to the era before the 2008 financial crisis, when a rush to make loans ended disastrously. He expects the credit cycle to eventually sour again, though he is not sure when, and said he sees a couple of people doing "dumb things" to create net interest income.
CRYPTO
Crypto.com receives conditional approval from the OCC for the National Trust Bank Charter. With this conditional approval, Crypto.com clears a major milestone in the process to provide its industry-leading custodial services as a federally regulated institution and further establishes Crypto.com as the qualified custodian of choice.
Chainlink's Taylor Lindman joins the SEC as Chief Counsel for Crypto Task Force. Since its formation last year, the crypto task force has embarked on multiple roundtable discussions to figure out how to regulate different aspects of the industry, including tokenisation and decentralised finance.
PARTNERSHIPS
Fiserv embarks on strategic AI partnerships to fuel recovery. Fiserv is launching a concerted artificial intelligence initiative aimed at reigniting its growth trajectory. The company's strategic focus has shifted from stabilisation to expansion, with newly formed alliances serving as the cornerstone of this effort.
DONEDEAL
Jump secures fresh $80M funding in Series B. The company says it will go toward building out an AI “operating system” aimed at boosting advisor productivity and organic growth. Continue reading
American Express and Visa alumni raise $4 million for Rhythmic, which partners with brands to provide financial products for their customers. The new capital will also allow the company to invest more in compliance. Continue reading
FinTech firm Newity raises $11 million. The funds aim to support its plan to bring small business loans on-chain. Founded in 2020, the FinTech provides a fully digital process for SBA-backed loans and has facilitated over $12 billion in funding to more than 125,000 businesses.
InScope nabs $14.5M to solve the pain of financial reporting. The AI-powered platform automates time-consuming financial reporting tasks, such as formatting and math checks, helping companies reduce manual work and streamline financial statement preparation.
Stripe publishes 2025 annual letter and announces tentative offer to provide liquidity to current and former employees. Businesses running on Stripe generated $1.9 trillion in total volume, up 34% from 2024, and equivalent to roughly 1.6% of global GDP.
M&As
Finovifi acquires Turner Software Technologies, Inc. and launches FrontLine Sentry, a real-time teller fraud prevention platform for community banks. The acquisition brings more than 50 community bank clients into the Finovifi ecosystem and advances the company’s strategy to embed real-time fraud detection directly into teller operations.
General Atlantic to acquire equity stake in Banamex. General Atlantic plans to partner with Banamex and the enhanced broader shareholder group to support the Company’s continued growth as a leading financial institution in Mexico. Read more
MOVERS & SHAKERS
Robinhood welcomes Dr. Naomi Boyd as Chief Economic Advisor. Dr. Boyd will focus on advancing research and analysis to enhance understanding as the industry continues to evolve. She will maintain her position as the Dean of the University of Denver’s Daniels College of Business.