Kraken, MoneyGram launch hryvnia cash withdrawals in Ukraine Kraken users in Ukraine can now convert their USD balance into hryvnia and collect cash at MoneyGram locations, with funds usually available in under 10 minutes after confirmation. The service is limited to $1,200 a month per sender, up to three transactions a day and 20 a month, and does not yet support bank account withdrawals.
PBOC adds eight banks to digital yuan network China’s central bank has approved eight commercial banks to join its e-CNY operating network, raising the number of digital yuan service operators from 22 to 30. The new entrants, including Ping An Bank, Bank of Shanghai and Bank of Hangzhou, have connected to the central bank’s digital renminbi system and will launch customer-facing services after final business and technical preparations are completed.
Mastercard closes BVNK acquisition to add stablecoin payments infrastructure Mastercard has completed its acquisition of stablecoin payments company BVNK, adding onchain settlement, wallet and conversion infrastructure to its network as it pushes deeper into corporate payments. The deal, with no purchase price disclosed, is aimed at linking fiat currencies, stablecoins and tokenized deposits across one payments layer for use cases including cross-border payments, merchant settlement and treasury management.
Mastercard completes BVNK acquisition to add stablecoin infrastructure Mastercard said Aug. 3 it closed its acquisition of stablecoin infrastructure provider BVNK, a deal first announced in March and valued at up to $1.8 billion, including $300 million in contingent payments. The company said BVNK’s technology will help connect fiat and blockchain payment rails across payments, cross-border transfers, settlements and treasury operations. Mastercard has not given a rollout timeline or said whether BVNK will keep its brand.
Crypto card spending hit a record $748.7M in July Crypto payment card spending climbed to an all-time high of $748.7 million in July, up 19.1% from June and 144.7% year over year, marking a fifth straight monthly increase, Paymentscan data shows. The tracker also logged record highs of 8.77 million transactions and 158,857 active addresses, while RedotPay led with $395.1 million in volume, more than half of all tracked spend.
SoFi says commercial clients are now settling in real time with SoFiUSD SoFi said in its Q2 results Wednesday that commercial clients have started settling transactions in real time through its SoFiUSD stablecoin, marking the first confirmation of enterprise use since the token launched in December. The bank said Big Business Banking processed transactions on the SoFi Exchange Network during the quarter, enabling 24/7 payments via SoFiUSD.
Lambda256 completes stablecoin payment pilot with Korea card issuers Lambda256, Dunamu’s blockchain unit, said July 24 it finished a joint proof of concept with the Korea Credit Finance Association and nine card issuers to test whether existing card payment infrastructure can connect to stablecoin payments. The pilot covered issuance, approvals, refunds, settlements, card points and on-chain AML/fraud checks, with Lambda256 saying the results reduced technical uncertainty for issuers and showed a standardized integration model is feasible.
Ripple invests in Notabene to expand RLUSD institutional payments Ripple has invested in regulated on-chain transaction network Notabene as the companies move to widen RLUSD use in institutional stablecoin payments. RLUSD will be integrated into Notabene Flow, its B2B stablecoin payments platform, while the two also plan to explore using Notabene’s transaction authorization and compliance infrastructure with Ripple Payments. Notabene says its network connects more than 2,300 institutions across 100+ jurisdictions.
Sui launches gas-free transfers for supported stablecoins Sui has rolled out stablecoin transfers that do not require users to hold SUI for gas, targeting one of crypto payments’ biggest UX hurdles. The feature, implemented through Sui’s Move API with gas set to zero for the user, supports USDC, USDsui, suiUSDe, AUSD, FDUSD, USDB and USDY, shifting the fee burden away from the end user.
Emirates NBD launches blockchain-based USD cross-border payments Emirates NBD has gone live on the Partior network, becoming the first bank in the MENAT region to offer blockchain-enabled cross-border U.S. dollar payments. The rollout follows a live transaction settled through JPMorgan, and the bank is now extending instant USD transfers to its corporate and institutional clients sending funds to beneficiaries with JPMorgan accounts.
Emirates NBD launches real-time cross-border USD payments on Partior Emirates NBD has gone live with real-time cross-border U.S. dollar payments on the Partior blockchain network for eligible corporate and institutional clients. Announced July 14, the service initially covers USD transfers to beneficiaries with J.P. Morgan accounts, with J.P. Morgan handling the first live transaction as both settlement and beneficiary bank. The bank plans to add more currencies and banking partners over time.
Cebuana Lhuillier to build stablecoin payment rail with Fireblocks on Solana Philippine financial services provider Cebuana Lhuillier is building a stablecoin-based settlement platform with Fireblocks, using Solana to handle domestic and cross-border transactions instead of legacy systems. The rollout will use Fireblocks’ wallet, network and reconciliation tools and is planned to scale across Cebuana Lhuillier’s 3,500-plus branches, allowing settlement accounts to be funded directly with international partners.
ECB picks 36 firms for digital euro pilot starting in H2 2027 The European Central Bank has selected 36 payment service providers for a 12-month digital euro pilot across the ECB and 19 euro-area national central banks, moving the project into live beta testing after years of design work. The trial will cover account setup, merchant acceptance, online and offline person-to-person payments, point-of-sale purchases, e-commerce and mobile payments, with Stripe among the participants.
Emirates NBD goes live on Partior for cross-border payments Emirates NBD has joined the Partior DLT clearing and settlement network for cross-border payments, becoming the first bank in the MENAT region live on the platform. Phase one launches the bank as a USD participant, with JPMorgan acting as settlement and beneficiary bank for the first transaction; Emirates NBD will initially support corporate and institutional payments to beneficiary accounts at JPMorgan, with plans to add more network banks and currencies later.
ECB picks 36 firms for digital euro pilot The European Central Bank has selected 36 payment service providers, including Stripe, Revolut, Deutsche Bank, UniCredit and BPCE, for a 12-month digital euro pilot due to start in the second half of 2027. The group was chosen from more than 50 applicants and will help test user access and merchant payments as the ECB steps up preparations for a CBDC rollout across the euro area.
Naver backs Rain in first crypto investment Naver Ventures joined Rain’s $250 million Series C, marking Naver’s first investment in a crypto company as it looks to build stablecoin payments using Rain’s Visa-linked infrastructure. Rain can issue cards and settle directly with Visa, letting stablecoins be converted to local currency at checkout across about 150 million merchants in roughly 150 countries. The move could support global expansion for Naver Pay, but synergies still depend on the delayed Naver Financial-Dunamu merger.
Kraken launches debit card for UK and EEA users Kraken has rolled out the Kraken Card for eligible customers in the UK and EEA, letting them spend crypto and cash balances directly anywhere Mastercard is accepted. The debit card supports more than 600 currencies, converts funds near real-time at checkout, and offers up to 2% cashback paid weekly in Bitcoin, euros, or pounds, with no Kraken transaction or ATM fees.
Lawson to test yen stablecoin payments at Tokyo store in August Lawson will start a proof-of-concept in early August at its Takanawa Gateway City store in Tokyo, letting shoppers pay with yen-pegged stablecoin JPYC by showing a wallet barcode that staff scan at the POS. Lawson says it is Japan’s first stablecoin payment trial directly tied to a POS system, and will use it to test transaction speed and integration stability before deciding on a wider rollout.
