banking

The identity project World, co-founded by OpenAI CEO Sam Altman, announced the launch of a World ID verification product suite aimed at banks and financial institutions, marking the first industry-specific version of the identity protocol. World co-founder Alex Blania unveiled the product at the Money20/20 conference. The suite integrates three existing products, and World claims it can help institutions guard against deepfake fraud and AI-driven identity theft, covering scenarios such as customer accounts, employee workflows, and AI agents.Specifically, the World ID app is an identity wallet used to store and present what World refers to as user Proofs. World ID for Zoom allows call participants to confirm that the other party is a real person and not a deepfake; this feature has officially launched after a limited testing phase that began in April. World’s main developer, Tools for Humanity, has also joined Zoom's Independent Software Vendor Exchange Program. World ID for Agents, also known as AgentKit, allows users to delegate Proofs to AI agents, which present them to third-party platforms.World stated that it is collaborating with OpenExchange, Bain Capital, VanEck Funds, and Outtake as design partners to explore how its technology can support banks and financial services, but did not disclose specific bank names or pricing for the product. A press release cited a Deloitte forecast predicting that by 2027, AI-related fraud losses in the U.S. could reach $40 billion, up from approximately $12.3 billion in 2023. World claims that over 18 million people currently hold Proof of Human. Last month, World also launched the World Money self-custody app, supporting stablecoin payments in over 150 countries; in July, World Foundation raised $52.5 million through a WLD token sale, with a lock-up period of one year.

According to SeeNews, Bulgaria's Postbank plans to add stock and cryptocurrency investment features to its mobile banking app. Postbank is a subsidiary of Eurobank Bulgaria AD. This move signifies that traditional banks are integrating digital assets with securities investment services into retail banking channels. The report was published on October 16, 2026, and currently, the page only displays the title, without disclosing details such as the launch time, supported currencies, and partners.

The Office of the Comptroller of the Currency (OCC) released a report on de-banking on Wednesday, pointing out that some banks had established "public and non-public policies" to restrict services to multiple industries, including oil and gas, tobacco, firearms, and digital assets. This report was issued based on an executive order signed by President Trump in August 2025, aimed at preventing what it calls "illegal de-banking" practices.The OCC stated that many institutions also imposed restrictions on digital asset businesses, involving issuers, exchanges, or management agencies, often citing financial crime considerations as justification. However, this 47-page report did not provide specific de-banking cases related to digital asset activities. The OCC noted that based on a review of nine large banks, it "could not fully quantify the overall scale of de-banking or alleged de-banking activities," with the agency's head, Jonathan Gould, primarily discussing claims of de-banking related to coal and firearms.Gould stated that these decisions were not based on financial risk; banks cited concerns about negative news, public protests, and the potential reputational consequences of supporting related industries. In November 2024, more than 30 executives from the technology and cryptocurrency industries claimed they were denied banking services, informally referring to it as "Operation Chokepoint 2." Trump's executive order in 2025 came after industry-related calls, following allegations that the Biden administration might influence financial institutions to cut off certain services to cryptocurrency companies.

According to The Defiant, the European Banking Authority has recognized the US dollar stablecoin USDC as the EU's first "significant" electronic money token. Under the arrangement, the financial regulatory responsibilities for USDC will be transferred to the European Banking Authority on November 12.Meanwhile, the French Prudential Supervision and Resolution Authority will continue to be responsible for the governance and other corporate affairs of USDC.

Morgan Stanley's CEO stated that artificial intelligence trading is crucial for the development of banking business.

According to Bitcoin.com News, Juan Curutchet, the head of financial and foreign exchange institution regulation at the Central Bank of Argentina (BCRA), recently stated that in the short term, cryptocurrency assets will not be allowed to integrate into the banking and payment service systems, and the regulations prohibiting financial institutions from providing cryptocurrency services established in 2022 will continue to be maintained.Juan Curutchet pointed out that Argentina's current economic vulnerability is insufficient to support the advancement of related measures, and whether the ban will be lifted in the future depends on the economic situation. Related topics may be discussed during the second term of Milei.

Shunyet Jan, the head of trading and trading operations at Binance, stated that the future competition among financial platforms will no longer be limited to cryptocurrency asset trading, but will integrate services such as investment, payment, lending, and asset management, creating a comprehensive financial ecosystem that covers both traditional finance and the cryptocurrency market. Jan has worked for about 30 years at Goldman Sachs, Morgan Stanley, and JPMorgan Chase. He believes that traditional finance has advantages in regulation, risk management, and functional segregation, while the cryptocurrency industry is more competitive in 24-hour trading, fast settlement, and openness, and that the two will accelerate their integration in the future.Binance hopes to allow users to utilize their financial value without having to sell underlying assets through features such as unified accounts, cross-asset margin, tokenized assets, and stablecoin payments, and to explore using AI to simplify asset selection and risk management. Jan revealed that Binance currently has over 300 million users, most of whom come from emerging markets; among users of its direct stock and tokenized stock products, about 90% come from emerging markets. He stated that Binance's long-term goal is to expand its user base from 300 million to 3 billion and to become a financial infrastructure that more people can use.

A report from the U.S. Senate Permanent Subcommittee on Investigations (PSI) identifies stablecoins, particularly USDT, as a key liquidity channel supporting Iran's shadow banking system. Licensed virtual asset service providers (VASP) in the Gulf Cooperation Council (GCC) region face heightened sanctions compliance pressure and need to enhance wallet ownership identification and counterparty assessment.Soham Jethani, a partner at the law firm Septten, stated that merchants settling crypto assets into local fiat currency do not necessarily avoid sanctions risks. Liability may involve designated entities, the provision of funds or economic resources, and asset handling within the transaction chain, potentially arising before the final settlement by banks. Jethani pointed out that the name of the stablecoin or the currency in which it is priced does not determine legal ownership; specific rights depend on contractual arrangements and actual payment processes.Globally circulating stablecoins may also pose secondary sanctions risks, as indirect or historical wallet associations do not automatically constitute violations and must be assessed in conjunction with applicable regulations, transaction participants, and specific facts. In regulated markets like the UAE, licensed exchange wallets are continuously monitored, and related funds can be frozen before consumption settlements, with merchants also required to complete KYC. Regulated VASPs handling deposits and withdrawals bear the responsibility for counterparty and sanctions risk assessment and corresponding controls.

According to BitcoinNews, Bringin is launching a corporate banking platform for European businesses, connecting Bitcoin with traditional banking services while supporting corporate self-custody. The platform offers dedicated virtual IBANs, instant SEPA transfers, Bitcoin to Euro exchanges, Lightning Network payments, stablecoin support, and cross-border payments. Businesses can directly purchase Bitcoin into self-custody wallets and use Bitcoin, stablecoins, or Euros to pay employees and suppliers.Bringin also supports integrating payment functionalities into existing systems via API and plans to support AI-oriented MPP and x402 payment protocols; the company plans to expand to the United States, South Africa, the Philippines, Mexico, and India.

Lloyds Banking Group and Visa completed their first stablecoin settlement test, settling a total of $750,000 in Visa payment obligations using USDC within 7 days, with funds arriving in as little as one hour.

Jeeves announced the completion of a $110 million equity financing. This round of financing was led by CoinFund, with participation from Andreessen Horowitz (a16z), Coinbase Ventures, AllianceBernstein, the Government of Singapore Investment Corporation (GIC), and Y Combinator.

According to Crowdfund Insider, digital bank Revolut announced that it has received approval from the Central Bank of Argentina to acquire Banco Cetelem Argentina, a subsidiary of BNP Paribas.After the transaction is completed, the institution will be renamed Revolut Bank Argentina S.A.U. and will operate as a licensed bank, but initially will not offer products or services to the public. It will officially launch local operations after completing the remaining regulatory and operational requirements.Revolut stated that there are currently over 150,000 people on the waiting list for its operations in Argentina.

According to official news, the cryptocurrency enterprise banking platform Limited announced the completion of a $18.5 million seed round financing, led by Third Prime, North Island Ventures (NIV), The House Fund, and Collab+Currency, with participation from ParaFi Capital, Pharsalus Capital, Digital Currency Group (DCG), 1982 Ventures, Onigiri Capital, and others.It is reported that Limited is a global financial platform aimed at multinational enterprises, integrating local business accounts, Visa cards, payment, treasury and expense management, and cryptocurrency infrastructure. Enterprises can make and receive payments through local channels such as ACH, SEPA, Pix, and SWIFT, and it also supports the receipt and payment of cryptocurrency assets such as BTC, ETH, and USDC.

Blockchain interoperability company Quant announced a collaboration with The Clearing House (TCH) to introduce programmable money in the United States, providing an interoperability layer for tokenized deposits within the regulated banking system, allowing tokenized deposits to circulate within the banking system.Quant stated that this collaboration continues its related work in the UK, Europe, and other regions. The company mentioned the On-Chain Money Initiative in the announcement and released a press release and blog explaining the details of the collaboration.

Michael Saylor published a long article titled "Prescriptions for Prosperity in the Digital Economy," stating that artificial intelligence will significantly enhance the productivity of individuals and businesses, thus necessitating a more free environment for creating, financing, owning, and trading assets. He suggests establishing a "Digital Bill of Rights" for digital assets, which centers on granting individuals and businesses the rights to create, issue, custody, transfer, and use digital assets, while providing fundamental protections in financial privacy, asset ownership, and market access.Saylor believes that digital intelligence will drive the birth of a large number of new enterprises, and financing costs, complexity, and time costs should be reduced, while improving capital formation efficiency through means such as digital tokens. He proposes a goal of enabling 10 million new enterprises to secure financing, while also establishing clear issuance rules and risk-matched disclosure requirements.Regarding the digital dollar, Saylor advocates for allowing banks, fintech companies, and technology platforms to compete more fully in the digital dollar product space and for issuers to compete around yields. He believes that the U.S. can further expand the global reach of the dollar by allowing companies to develop more competitive dollar digital products.For Bitcoin, Saylor defines it as "digital capital," advocating for allowing banks to custody Bitcoin under clear rules and use it as collateral for providing credit, while also establishing a viable path for insurance companies to incorporate digital capital into their balance sheets and product designs.He specifically mentions that the Basel Accord applies a 1250% risk weight to certain crypto asset exposures, arguing that regulators should reassess the relevant capital requirements based on the actual risks of digital assets and specific business activities.

The European Banking Authority (EBA) calls for the inclusion of crypto lending in the EU's Markets in Crypto-Assets Regulation (MiCA) framework. In response to the European Commission's targeted consultation on MiCA, the EBA stated that lending activities involving crypto assets should be regulated, including situations where crypto asset service providers offer users access to decentralized finance (DeFi) lending protocols.The EBA recommends that the European Commission conduct a cost-benefit analysis for legislative amendments, considering the inclusion of intermediary crypto lending in the MiCA regulatory service list, and potentially adding specific compliance requirements and supervisory activities. The agency also suggested that corresponding requirements should be set for crypto companies providing customers access to DeFi lending protocols.Potential measures listed by the EBA include user suitability testing, leverage limits, and additional information disclosure requirements. The regulatory body also proposed that access to lending involving assets that require MiCA authorization, such as reference tokens or electronic money tokens, may be restricted, and a certification system should be introduced for DeFi lending protocols. The EBA noted that crypto lending is continuously growing within the EU, with previous studies showing lending activities in at least 16 member states; easier access to DeFi through crypto companies and artificial intelligence tools is increasingly blurring the lines between centralized and decentralized finance. The above recommendations are part of the EBA's overall opinion on the European Commission's review of MiCA, which also covers stablecoin rules, crypto asset classification, and reporting requirements.

According to Ledger Insights, the latest statistics on bank cryptocurrency activities for the second half of 2025 released by the Basel Committee on Banking Supervision (BCBS) show that the overall prudent exposure of banks remains flat, but the composition of assets has changed significantly.In the Americas, the proportion of BTC in bank cryptocurrency exposure dropped sharply from 75.8% to 44.2%, while ETH rose to 38.5%, and SOL and XRP accounted for 7.8% and 5.6%, respectively. Other regions have shifted more towards stablecoins. Customer-related activities grew significantly, with a 93% increase in the Americas to 6.4 billion euros, while Europe saw a 25% decrease to 1.9 billion euros.

Democratic members of the U.S. Senate Banking Committee sent a letter to the committee's chairman, Republican Senator Tim Scott, calling for a congressional hearing on prediction markets. The Democrats stated in the letter that the committee has a "critical oversight responsibility" in regulating prediction markets and emphasized that Congress should examine prediction markets through public hearings on a bipartisan basis, rather than in closed-door roundtable meetings limited to Republicans and industry-friendly discussions. Senators including Elizabeth Warren signed the letter.On the same day, Republican members of the Senate Banking Committee met with Tarek Mansour, CEO of the prediction market platform Kalshi. Scott stated in a statement to The Block that he convened Republican lawmakers to meet with Kalshi to better understand the opportunities and challenges presented by securities-linked products. The two sides discussed keeping innovation within the United States, how investors use these products, protecting retail investors, and regulatory issues that Congress should address. Kalshi did not immediately respond to a request for comment.Currently, the U.S. Commodity Futures Trading Commission (CFTC) advocates for a leading role in the regulation of prediction markets but faces opposition from various states, which claim jurisdiction over sports event contracts. The Senate Banking Committee, on the other hand, has jurisdiction over the SEC and is responsible for regulating "securities-linked products" related to prediction markets. Democrats pointed out that the bets offered by such products, which are linked to company performance metrics, may fall under the SEC's regulatory scope. It has been reported that Cboe Global Markets is seeking SEC approval for its listing of "all-or-nothing options" linked to company earnings results.