International payments systems are connecting to each other at lightning speed (TWIF 11/8)

Hello Fintech Friends,

Welcome to the 1,381 new readers who’ve joined us since last week. You’re joining 135,000+ other subscribers who were also glued to their newsfeeds this week.

Between the card networks creating interoperability with every payment system – from QR codes to real-time payment rails – and banks diving head first into stablecoins, it feels like the pace of payments is speeding up globally. After years of complaining about slow, costly, inefficient payment systems, 2024 feels like an inflection point in finally digitizing global payments.

We start the week with none other than Robinhood, Kraken, and Paxos all teaming up to launch a new global dollar stablecoin:

And a great guest piece from MIT MBA Clara Estol on why stablecoins are such powerful technology for Argentina:

Speaking of stablecoins: We have a big TWIF announcement on the topic coming out very soon (no, it's not our own coin...) so watch this space 👀

Please enjoy another week of fintech and banking news below.

(👍👎 Have feedback for us? Let us know!)

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A Message From Silicon Valley Bank

What happens when the wow-factor of AI wears off? SVB’s new Future of Fintech report identifies how a new generation of fintech companies is creating more value per dollar invested than legacy AI companies, creating waves of optimism through the space. Yet, when the novelty of a new product wanes, what will matter most? Read the Future of Fintech 2024 report

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Wells Fargo Launches Paze for Online Checkout: Wells Fargo has introduced Paze, a new online checkout option, allowing users to consolidate multiple cards into one digital wallet. It enhances online security by tokenizing card numbers and facilitates a smoother checkout experience.Read more

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Ant International's Stablecoin Payment System with Grab: Ant International, Grab, and StraitsX launched a cross-border stablecoin payment solution, enabling more accessible digital transactions across Southeast Asia. Read more

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Lili Connect for Small Business Financial Management: Lili introduced "Lili Connect," a tool aimed at helping small businesses manage finances with integrations for invoicing, tax tools, and real-time expense management, easing financial operations for entrepreneurs. Read more

Libeara and Fundbridge Tokenized US Treasuries Fund: Libeara and Fundbridge Capital plan to offer a US Treasuries fund tokenized on a public blockchain, allowing investors to access fractionalized government bonds, which enhances transparency and accessibility. Read more

TBC Uzbekistan’s “Salom” Card: TBC Bank in Uzbekistan launched the "Salom" card, a digital-first banking solution for daily transactions, designed to improve accessibility for consumers and small businesses. Read more

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📺

A Message from Silicon Valley Bank

What happens when the wow-factor of AI wears off? SVB’s new Future of Fintech report identifies how a new generation of fintech companies is creating more value per dollar invested than legacy AI companies, creating waves of optimism through the space. Yet, when the novelty of a new product wanes, what will matter most? Read the Future of Fintech 2024 report

Want to sponsor a newsletter? See our sponsorship information here.

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