Binance is backing out of its plans to acquire FTX, the company said Wednesday, leaving Sam Bankman-Fried’s crypto empire on the verge of collapse. Link here

J.P. Morgan and Mastercard modernize account-based payments with innovative 'pay-by-bank' solution, an ACH payment that uses open banking, which enables customers to pay bills directly from their bank account with greater security. Link here

Elon Musk detailed his vision for Twitter’s plan to enter the payments market and suggested that, in the future, users would be able to send money and extract their funds to authenticated bank accounts on the platform. Link here

#FINTECH REPORT

Fintech Saudi released its fourth Annual Report 2021/2022, providing an overview of the FinTech industry in Saudi Arabia over the last year. Link here