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0 of 5 readThis week in fintech: the UK FCA opened crypto licensing applications, Visa and Lloyds completed a stablecoin settlement pilot, and Stripe announced plans to acquire Parafin to scale embedded finance.
UK FCA Opens Crypto Licensing Window, Rules Effective 2027
The UK FCA began accepting crypto firm licence applications on Sept 30, with a five-month window before the new framework takes effect in October 2027.
Why it mattersThe UK aims to become one of the most trusted places for crypto businesses, giving compliant firms a clear regulatory path.
Visa and Lloyds Complete Stablecoin Cross-Border Settlement Pilot
Visa and Lloyds Banking Group completed a seven-day stablecoin settlement pilot, with Lloyds settling $750,000 of payment obligations using stablecoins.
Why it mattersThe pilot validates stablecoins for mainstream bank cross-border settlement, potentially improving speed and transparency.
Stripe to Acquire Parafin, Scaling Embedded Finance to 18,000 Platforms
Stripe announced plans to acquire embedded finance platform Parafin, which has helped over 60,000 businesses access credit since 2020.
Why it mattersStripe will be able to offer credit products to SMBs on its platforms, deepening its embedded finance reach.
HSBC Prepares to Launch HK$-Backed Stablecoin RedCoin
HSBC's forthcoming stablecoin in Hong Kong will be branded RedCoin and backed by the Hong Kong dollar.
Why it mattersA major bank issuing a stablecoin could accelerate the convergence of traditional finance and crypto assets.
Mastercard, Stripe, Visa, Coinbase Launch New Stablecoin
Mastercard, Stripe, Visa and Coinbase launched a new stablecoin, while Open USD enters with a different model.
Why it mattersA stablecoin from payments giants could reshape industry economics and competition.