OnlyFintechs

The Clearing House has picked Quant to build its planned tokenized deposit network, a vendor selection with availability targeted for the first half of 2027.

On Sept 24, 2026 The Clearing House (TCH) selected Quant to power its On-Chain Money Initiative, a planned interoperable payments network for financial institutions of all sizes to clear and settle tokenized deposit transactions. Quant will supply the interoperability, orchestration and transaction-management layer, plus connectivity to the RTP and CHIPS fiat rails banks already use; Quant says it was selected after a competitive process. The network is expected to become available to participating institutions in the first half of 2027. It is not live yet, and TCH says more details on participation and use cases will follow.

In this OnlyFintechs episode we walk the Sept 24 TCH release and Quant’s announcement:

• What tokenized deposits are, in TCH’s words: digital representations of a financial institution’s deposits that retain the protections and regulatory oversight of traditional deposits
• What Quant will supply: interoperability, orchestration and transaction management, with connectivity to RTP and CHIPS
• Why a shared network: Quant’s walled-garden framing and its Tokenised Deposits-as-a-Service offering for U.S. institutions that process through TCH
• The use cases TCH named: corporate treasury, liquidity management, cross-border payments and digital asset settlement
• Quotes from Sal Karakaplan, Chief Strategy Officer of TCH, and Gilbert Verdian, founder and CEO of Quant
• Background from the June 5, 2026 bank-led launch, and what TCH says comes next ahead of the first-half-2027 target

Keywords: The Clearing House, Quant, On-Chain Money Initiative, tokenized deposits, Tokenised Deposits-as-a-Service, RTP, CHIPS, programmable money, bank payment rails, tokenization, fintech.

#ClearingHouse #Quant #TokenizedDeposits #Payments #Tokenization #RTP #Fintech #PodcastDrop

The Federal Reserve Board has proposed its GENIUS Act rules for Board-supervised payment stablecoin issuers, with 1:1 reserves, capital minimums and a 120-day clock for bank applications.

On Sept 24, 2026 the Federal Reserve Board asked for public comment on two proposals that implement its GENIUS Act duties for Board-supervised payment stablecoin issuers. One proposal would require 1:1 backing with a short list of liquid reserve assets, set standardized capital and risk-management rules, limit yield/interest arrangements, and clarify custody and bank activities. The other would create a tailored application process for insured state member banks that want a subsidiary to issue payment stablecoins, including a 120-day decision clock that runs from the date a substantially complete application is submitted. Comment periods run 60 days after Federal Register publication.

In this OnlyFintechs episode we walk the open .gov memos and Governor Barr’s statement:

• What “Board-supervised PPSI” means
• 1:1 reserves, redemption timing and capital tiers
• How the yield presumption tracks the OCC
• What state member banks must file, and the 120-day decision clock
• Governor Michael Barr’s statement

Keywords: Federal Reserve, GENIUS Act, payment stablecoin, PPSI, reserves, capital, state member bank, Michael Barr, OCC, stablecoin yield, fintech regulation.

#GENIUSAct #FederalReserve #Stablecoins #Banking #Fintech #Regulation #PodcastDrop

A new PYMNTS Intelligence report, made in collaboration with Thredd, says AI credit only wins if customers can feel it: credit that shows up when needed, priced for the purchase, on terms they choose.

We break down "Credit That Meets the Moment," the September 2026 edition of PYMNTS Intelligence's Future of AI Credit series. It turns from the issuer's side to the customer's: decide-later payment choices, pricing tied to what's actually being bought, clear reasons behind credit decisions, and why younger cardholders reward control over rewards.

• Why more than half of card-linked BNPL users decide after the purchase clears (J.D. Power data cited in the report)
• The 32 million U.S. adults a traditional credit score can't see
• Why explainability is what makes a credit decision fair and contestable
• How Gen Z and millennials say repayment choice at checkout would change their card use
• Why issuers who treat AI as back-end efficiency risk being "routed around"

Report: Credit That Meets the Moment (PYMNTS Intelligence, with Thredd)

Keywords: AI credit, PYMNTS Intelligence, Thredd, buy now pay later, BNPL, credit as a feature, alternative credit data, credit invisible, explainable AI, card issuing, Gen Z credit

#fintech #AIcredit #BNPL #payments #cardissuing #creditscoring #OnlyFintechs

0:00 The yes-or-no moment at checkout

1:00 The PYMNTS Intelligence report, with Thredd

2:12 Deciding how to pay after the purchase

5:05 Real-time pricing and the 32M unscorable adults

7:24 Trust and explainable credit decisions

8:38 Customer control: setting repayment rules

9:40 A control story, not a rewards story

Coinbase, Mastercard, Shopify, Stripe and Visa are now founding partners and investors in Open Standard, the company behind the Open USD (OUSD) stablecoin, backing what it calls $1B+ in launch liquidity.

Announced Sept 24, 2026, the update also makes Zach Abrams, founder of Bridge, full-time CEO. We explain what Open Standard is, what has changed since the June 30 launch announcement, and the new ownership layer: once OUSD goes live, partners can earn equity based on the supply and activity they drive. The stablecoin is announced but not yet live, and no launch date has been given.

What you'll learn:

• What Open Standard and Open USD are, and how partners share in reserve earnings
• Founding partner vs. listed partner, and why only five are investors
• Why Open Standard wants to be judged by payment volume, not reserve size
• Where Visa's Stablecoin Platform beta fits
• What's still undisclosed: the issuer, fees and reserve details

Keywords: Open Standard, Open USD, OUSD, stablecoin, Stripe, Visa, Mastercard, Coinbase, Shopify, Bridge, Zach Abrams, stablecoin settlement, fintech.

#OpenUSD #OpenStandard #Stablecoins #Payments #Stripe #Visa #Fintech

0:00 Intro: Open Standard's founding partners

2:29 What Open USD promises: no-cost mint and redeem

5:06 Equity and reserve sharing

7:38 Why CoinShares calls it a threat to Circle

9:20 Exit fees, treasuries and weekend settlement

14:16 An invisible rail, and Visa's stablecoin platform

16:51 The off-ramp problem

19:06 What's still undisclosed

Revolut is piloting Pay with Smile, opt-in facial recognition at the till, on its new Revolut Register POS at three Kiss the Hippo cafés in London from Sept 24–26, 2026.

Customers who opt in pay by matching their face to their Revolut onboarding selfie, and settlement runs account-to-account with 0% merchant processing fees during the trial. We unpack what is actually live (three days, one café chain, wider Register sales "in due course"), how Register, Revolut Pay and biometric A2A collapse into one checkout, and what UK GDPR and the ICO's special-category biometric guidance still require.

What you'll learn:

• What the customer-facing screen actually shows at checkout
• How the face match, opt-in and £200+ step-up authentication work
• How account-to-account settlement and the 0% merchant fee fit together
• The privacy claims: opt-in only, no face data stored by the merchant
• Trial vs go-live, and what to watch before a wider UK rollout

Keywords: Revolut, Pay with Smile, Revolut Register, facial recognition payments, biometric POS, Kiss the Hippo, A2A payments, UK GDPR, ICO, merchant acquiring, fintech.

#Revolut #PayWithSmile #Biometrics #Payments #Fintech #OpenBanking #UKFintech

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:00 Intro: Revolut's Pay with Smile trial

2:47 How Pay with Smile works

5:20 When a face match fails

6:57 Merchant costs and trial incentives

9:51 Closed loop and biometric consent

12:58 What the privacy notice says about stored photos

15:16 Do shoppers want frictionless checkout?

17:18 Friction and spending habits

MoonPay signed a definitive Sept 23, 2026 merger agreement to acquire North Capital Investment Technology — the private-markets platform behind SEC-registered broker-dealers, the PPEX alternative trading system, a transfer agent, and an investment adviser — so North Capital becomes a wholly owned MoonPay subsidiary subject to regulatory approvals.In this OnlyFintechs episode we unpack why a crypto payments giant is buying brokerage + ATS + custody rails for exempt and tokenized securities (not just another on-ramp), the $8.7B+ primary/secondary volume and 1,250+ PPEX assets North Capital brings, how CoinDesk’s ~$60M all-stock figure sits vs the dollar-silent company PR, and how this same-day private-markets stack buy differs from NYSE × Blockchain.com’s public-equities distribution MOU (S2E11).What you’ll learn:MOU/explore vs signed merger (still subject to regulatory approvals)Which SEC registrations travel with the deal (BD, PPEX ATS, transfer agent, IA)Tokenized RWA ambition vs live product claimsPrivate/exempt securities stack vs S2E11’s public-equities tokenized distribution MOUWhat still needs approvals before closeKeywords: MoonPay, North Capital, PPEX ATS, tokenized securities, RWA, private markets, broker-dealer, FINRA, SEC, onchain capital markets, fintech M&A#MoonPay #NorthCapital #Tokenization #RWA #PPEX #ATS #PrivateMarkets #Fintech #PodcastDrop0:00 Intro: private markets still run on paperwork1:50 MoonPay, North Capital and the deal3:42 What MoonPay is buying: the regulatory stack7:46 Regulatory risk and the tokenization goal9:33 How a transfer agent links tokens to ownership11:53 Who it's for: MoonPay's institutional push13:58 What it means

IBM just put Digital Asset Haven into Swift’s shared ledger beta — banks can instruct tokenized-deposit moves with familiar ISO 20022 messages, keep existing compliance, and push 24/7 value ahead of final settlement on classic rails — plus a pure on-prem Haven option on IBM Z / LinuxONE for institutions that won’t put keys in public cloud.

In this OnlyFintechs episode we unpack adapter vs go-live, the 17-bank Swift pilot backdrop, why on-prem key control is the second headline, and why hosts must flag waitlist/beta so this doesn’t get sold as a broad live launch.

What you’ll learn:

• ISO 20022 Messaging Adapter mechanics for tokenized deposits
• 24/7 movement vs final settlement on existing rails
• SaaS/Hybrid vs fully on-prem Haven on IBM Z / LinuxONE
• Crypto Express HSM + cold-storage ceremonies
• Hooks to the Swift tokenized-deposits thread and Bastion/OpenReserve “who holds the bank stack”

Keywords: IBM, Digital Asset Haven, Swift, ISO 20022, tokenized deposits, IBM Z, LinuxONE, on-prem, shared ledger, digital banking, fintech

#IBM #Swift #DigitalAssetHaven #TokenizedDeposits #ISO20022 #IBMZ #LinuxONE #Fintech #PodcastDrop

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:00 Intro: moving money at 2 a.m. on a Sunday

1:56 The ISO 20022 adapter to Swift's ledger

5:30 24/7 movement vs. final settlement

8:23 On-premises Haven and key security

13:43 The availability claim and beta caveats

15:36 How we got here: the Swift ledger timeline

18:46 What it means

Reap and Visa announced Sept 23, 2026 a collaboration to bring stablecoin-linked Visa credit card programs to 100+ markets — expanding Reap’s issuing stack beyond Asia and Latin America into EMEA and Africa, subject to local rules.

In this OnlyFintechs episode we unpack issuer infrastructure (not a U.S. bank go-live): stablecoins as funding, collateral, and repayment behind familiar Visa plastic; Visa’s $20B annualized stablecoin settlement run rate and 160+ programs; Reap as Visa’s Asia-Pacific stablecoin settlement partner; and how this sits next to SoFi’s national-bank SoFiUSD Mastercard settlement (S2E8).

What you’ll learn:

• Expansion vs launch
• Why volume ≠ Reap revenue
• Agentic-commerce exploration vs live product
• Multicurrency stablecoin cards as roadmap

Keywords: Reap, Visa, stablecoin cards, card issuing, settlement, EMEA, Africa, embedded finance, corporate treasury, payments rails, fintech

#Reap #Visa #Stablecoin #CardIssuing #Payments #Settlement #Fintech #PodcastDrop

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:00 Intro: the plumbing phase for stablecoins

1:51 Reap and Visa plan expansion to 100+ markets

4:44 How a stablecoin-funded card payment works

6:52 Settling with Visa in stablecoins, and fraud controls

9:13 Growth figures and the $20B Visa metric

11:33 Contrast: SoFi's bank-issued stablecoin

14:18 Visa's on-chain lending for card programs

16:31 Agentic commerce: roadmap only

NYSE Group and Blockchain.com signed a Sept 23, 2026 MOU to explore distributing tokenized U.S.-listed stocks and ETFs to Blockchain.com’s global users on NYSE’s planned digital ATS — subject to regulatory approvals, with no launch date or country list yet.

In this OnlyFintechs episode we unpack the distribution bet (crypto-native reach into exchange-grade tokenization), the bidirectional ICE/NYSE ↔ Blockchain.com market-data deal for 44M+ accounts, how this sits vs Blockchain.com’s existing Ondo Europe stock tokens, and why the SEC’s Sept 17 Innovation Exemption (S2E2) is the regulatory backdrop — not a green light to trade today.

What you’ll learn:

• MOU vs live product
• NYSE’s Jan 2026 tokenized platform design (24/7, fractional, fungible rights)
• Investor-protection flags when tokens aren’t real shares
• What still needs approvals

Keywords: NYSE, Blockchain.com, ICE, tokenized stocks, digital ATS, tokenization, SEC Innovation Exemption, market data, onchain equities, fintech

#NYSE #Blockchaincom #TokenizedStocks #ICE #Tokenization #SEC #CapitalMarkets #Fintech #PodcastDrop

0:00 Intro: a stock market that never sleeps

1:17 Tokenized US stocks abroad: Blockchain.com and Ondo

4:32 The NYSE and Blockchain.com MOU

8:04 The SEC exemption for tokenized venues

11:54 Permissioned access on public blockchains

13:52 Volume limits and penalties

16:36 Investor protections and halts

19:23 What it means

Same day as Revolut, the OCC gave OpenReserve Bank, N.A. preliminary conditional approval for a full-service national bank in Salt Lake City — built for tokenized deposits, BaaS, and a planned stablecoin subsidiary under the GENIUS Act.

In this OnlyFintechs episode we break down Corporate Decision #1389 (Sept 2, 2026): $210M minimum capital, 12% Tier 1 leverage for three years, on-balance-sheet digital assets limited to fees/gas, and why a16z and Coinbase Ventures are backing a “continuous bank.”

What you’ll learn:

• How OpenReserve’s crypto-native full-service plan differs from Bastion/Agora/Catena’s uninsured trust stack and from Revolut’s same-day product-gated retail charter
• What “preliminary” still requires (FDIC + Fed + final OCC)
• Why GENIUS Act conformity is an enforceable condition

Keywords: OpenReserve, OCC, CD1389, Salt Lake City, GENIUS Act, stablecoin, tokenized deposits, Andreessen Horowitz, Coinbase Ventures, continuous bank

#OpenReserve #OCC #CryptoBank #Stablecoin #GENIUSAct #Tokenization #Fintech #PodcastDrop

0:00 Intro: money that still keeps bankers' hours

2:14 Why banking is slow: COBOL, batches, trapped capital

6:40 Why big banks can't just replace the core

7:46 OpenReserve: founders and a16z seed round

10:47 Why a bank, not just a stablecoin

12:40 The OCC conditional approval and its limits

16:34 Compared with Revolut's approval

20:46 What it means