Registry — Vantage Bank Texas (US) added to the registry
Enforcement — Licence Cancellation / Court-Ordered Winding Up issued against Paytm Payments Bank Limited · RBI · Jul 28, 2026
Partnership — Asprofin Bank and Digital TRVST Launch Strategic BaaS Partnership · Jul 28, 2026
Product — KamelPay Launches AbsoluteCard Corporate Payments Platform in UAE · Jul 24, 2026
M&A — Kraken Parent Payward Acquires Magic Labs' Embedded Wallet-as-a-Service Business · Jul 28, 2026
Funding — PEX Raises $160M in Debt and Equity for Spend Management Platform · Jul 28, 2026
Deal Feed
Partnerships, funding rounds, product launches, and M&A across the ecosystem.
Payward signed a definitive agreement on Jul 27, 2026 to acquire Magic Labs' wallet-as-a-service business. Magic's non-custodial wallet infrastructure has powered more than 60 million wallets. Payward will integrate the technology into Payward Services, its B2B infrastructure platform.
FreshBooks and Grasshopper Bank announced a partnership on Jul 28, 2026, to embed banking services into FreshBooks' business management platform. The deal targets solopreneurs and small teams who need integrated cash-flow tools. It connects Grasshopper's digital banking with FreshBooks' invoicing and accounting suite.
ChainIT Inc. has been added to the U.S. Bank Connected Partnership Network, an online marketplace of fintech solutions integrated with U.S. Bank systems. ChainIT is listed as a Treasury Management Solution offering KYC/KYB, digital agreements, and compliance infrastructure.
FIS and Episode Six launched the FIS International Issuing Hub on Jun 3, 2025. The cloud-native, API-first platform handles card issuing and payment processing for banks and fintechs globally. It combines Episode Six's processing technology with FIS's distribution network.
Asprofin Bank Corporation and Digital TRVST announced a Banking-as-a-Service partnership on Jul 28, 2026. Asprofin supplies regulated banking infrastructure; Digital TRVST embeds it into its fintech platform. The deal covers multi-currency accounts, cross-border payments, digital asset custody, and compliance.
PEX secured $160 million in debt and equity financing led by Bluff Point Associates on Jul 28, 2026. The capital will fund growth of PEX's charge card program and spend management platform. Clear Haven Capital Management is providing the credit facility.
KPay Merchant Service (Singapore) Pte. Ltd. received in-principle approval from MAS for a Major Payment Institution licence on Jul 27, 2026. The licence will cover merchant acquisition, domestic transfers, and cross-border money transfers. The approval does not yet permit KPay to provide payment services.
The OCC granted Upstart conditional approval on Jul 23, 2026 to establish Upstart Bank, N.A. as a de novo national bank. The branchless bank would originate loans nationwide and accept FDIC-insured deposits. Upstart filed its charter application in Mar 2026.
Xflow, a cross-border payments platform, closed a $16.6 million Series A led by General Catalyst. PayPal Ventures also participated, alongside existing investors Lightspeed, Stripe, Moore Capital, and Square Peg. CMS IndusLaw advised Xflow on the transaction.
Byline Bank announced on Jul 27, 2026 that Lithic selected it as a sponsor bank partner. The deal lets Lithic connect technology companies to Byline's banking infrastructure for consumer and commercial card programs. Byline will provide accounts, payments and risk oversight behind Lithic's platform.
Cross River Bank will provide banking infrastructure for X Money, a financial services platform embedded in the X app. The platform includes FDIC-insured accounts, a Visa debit card, and peer-to-peer payments. X is the first U.S. social media platform to offer embedded banking within its core product.
Candex extended its Series C funding round to over $40 million with a new investment from HSBC. The company provides vendor management and tail-spend solutions for global enterprises. The round extension was announced on Mar 17, 2026.
Alaan, a UAE-based spend management platform, launched an AI-native business bank account powered by ruya's Banking-as-a-Service infrastructure. The product embeds Shariah-compliant banking directly into Alaan's fintech interface. It consolidates approvals, payments, and accounting into a single AI-driven workflow.
Flexible Finance, Inc. ("Flex") filed applications with the FDIC and the Utah Department of Financial Institutions to charter Flex Bank as a Utah state-chartered industrial bank. The proposed subsidiary would be FDIC-insured. Flex has processed more than $40 billion in rent for over 3.2 million renters since 2019.
Tabby received a consumer finance licence and an SME finance licence from the Saudi Central Bank (SAMA) on Jun 29, 2026. The consumer licence allows extended payment plans up to SAR 50,000 over 12 months. The SME licence lets Tabby provide working capital to retailers on its platform.
The OCC granted preliminary conditional approval on Feb 12, 2026, for Bridge National Trust Bank, a de novo national trust bank in New York. Bridge Ventures LLC, a wholly owned subsidiary of Stripe, Inc., will own the bank. The bank plans to issue USD-denominated stablecoins and provide digital asset custody services.
The Office of the Comptroller of the Currency denied Wise Group's application for a U.S. national trust bank charter. Wise said the decision does not affect normal operations. The company plans to submit a new application reflecting changes to its business and OCC feedback.
Visa and Lianlian DigiTech completed the first live B2B agentic transaction using Lianlian's LoopXPay AI agent on Jul 24, 2026. The agent sourced a product sample, compared suppliers, placed an order, and executed payment in a single automated workflow. LoopXPay has been registered in Visa's Agentic Directory.
KamelPay launched AbsoluteCard on Jul 16, 2026, a corporate payments platform powered by Mastercard and issued by Mawarid Finance. The product bundles virtual IBANs, corporate cards and real-time spend controls for UAE businesses. KamelPay also holds in-principle approval from the Central Bank of the UAE.
Circle signed MOUs with Kakao Group and Toss Bank on Jul 23, 2026, to explore USDC stablecoin payments and cross-border settlement in South Korea. The agreements cover blockchain infrastructure integration with existing banking and payments platforms. No launch dates or financial terms were disclosed.
Manifest launched the Manifest Business Debit Mastercard on Jul 23, 2026. The card runs on Mastercard's network and bundles payments, banking and financial tools for creator-led businesses. It targets creator entrepreneurs who need unified cash management and growth capabilities.
On Jul 22, 2026, BVNKROLL announced a partnership to integrate its embedded banking and payments platform into AXES.ai's Intelligent Management System. BVNKROLL is a Nevada-based payments infrastructure company backed by GBank Financial Holdings through a 32.99% non-voting equity stake in co-owner BankCard Services.
Parafin closed a $300 million forward-flow facility with a New York-based alternative asset manager. The deal expands funding capacity for its embedded lending, BNPL, and credit card products. Parafin has now funded over 50,000 businesses through its platform.
ITFC signed a $100 million syndicated Islamic trade finance facility with JSCB Hamkor Bank in Uzbekistan. It is the largest standalone Islamic trade finance facility extended to an Uzbek bank. The facility targets SME support, women's entrepreneurship, green finance, and food security.