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Today's Briefing
Friday, May 29, 2026

White House and Federal Reserve Propose Expanded Payment System Access for Fintech and Crypto Firms

  • The White House and Federal Reserve are proposing expanded payment system access for fintech and crypto firms, directing federal regulators to review regulations and streamline chartering processes. This initiative aims to reduce barriers, potentially granting nonbank financial companies direct access to Federal Reserve payment accounts and services.

  • Globally, the Government of Georgia partnered with Tether to launch GELT, a national stablecoin pegged to the Georgian Lari, for cross-border commerce. This government adoption of stablecoins is mirrored by Mastercard securing a New York BitLicense to advance its digital asset payment strategy.

  • Fintech funding saw a quieter week, with just over $450 million raised across 11 deals, marking a second consecutive week of lower activity. Despite this, vendor financing platform Capchase secured over $200 million for embedded financing and AI, and AI-focused fintech Catena raised $30 million while filing for a national trust bank charter.

The Bottom Line

Fintech is experiencing significant regulatory shifts to integrate digital assets and non-bank entities into traditional finance, alongside a continued pursuit of banking licenses. While overall funding has recently slowed, strategic investments in AI and embedded finance remain robust, focusing on core infrastructure and efficiency.

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