The European Commission has announced two new strategies to strengthen Europe’s position in AI: the Apply AI Strategy and the AI in Science Strategy. These initiatives aim to accelerate AI adoption across key industries and enhance Europe’s leadership in AI-driven scientific research. President of the European Commission, Ursula von der Leyen, said: Ursula von der Leyen “I want the future of AI to be made in Europe. Because when AI is used, we can find smarter, faster, and more affordable solutions. AI adoption needs to be widespread, and with these strategies, we will help speed up the process. Putting AI first also means putting safety first.” The Apply AI Strategy focuses on expanding the use of AI across strategic sectors such as healthcare, energy, mobility, manufacturing, agriculture, defence, and communications. It aims to support both large industries and SMEs in integrating AI into their operations. Around €1 billion will be mobilised to fund initiatives including AI-powered healthcare screening centres and the development of sector-specific AI models for manufacturing, environmental management, and pharmaceuticals. To coordinate efforts, the Commission is launching the Apply AI Alliance, which will bring together representatives from industry, academia, public institutions, and civil society. An AI Observatory will monitor technological trends and assess the impact of AI across sectors, while the newly launched AI Act Service Desk will assist with the implementation of the EU AI Act. Running alongside Apply AI, the AI in Science Strategy aims to make Europe a global hub for AI-driven research and innovation. At its centre is RAISE, the Resource for AI Science in Europe, a virtual institute designed to consolidate and coordinate AI resources for scientific use. The strategy includes €58 million under the RAISE pilot to support Networks of Excellence and Doctoral Networks for AI talent, €600 million from Horizon Europe to expand access to computational power for researchers and startups, and plans to double AI-related funding under Horizon Europe to over €3 billion. It also introduces initiatives to help scientists identify data gaps and improve access to high-quality datasets. The Commission’s Joint Research Centre will contribute through technical assessments and studies on AI’s impact on science and research. Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy, said: Henna Virkkunen “Europe is well positioned to become an AI continent. With the Apply AI Strategy, we will help our companies and key sectors, from manufacturing to healthcare and the public sector, use AI to deliver real benefits for EU citizens, reinforce our competitiveness, and strengthen our technological sovereignty.” To further advance AI integration, the Commission will present a Data Union Strategy at the end of October to improve access to high-quality, structured data for businesses and researchers. The AI in Science Summit, co-organised by the Commission and the Danish Presidency, will take place in Copenhagen on 3 to 4 November to launch key initiatives under the AI in Science Strategy, including the RAISE pilot.   Featured image credit: European Commission The post European Commission Outlines New Strategies for AI and Science appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Coinbase and Mastercard are reportedly in advanced discussions to acquire London-based stablecoin infrastructure startup BVNK, in a deal valued between US$1.5 billion and US$2.5 billion, according to Fortune. The talks remain ongoing, but sources say Coinbase currently has the lead. If completed, the acquisition would be the largest stablecoin deal to date, underscoring growing institutional interest in the technology. Founded in 2021 by Chris Harmse, Jesse Hemson-Struthers, and Donald Jackson, BVNK helps businesses use stablecoins for payments, treasury, and cross-border transactions. The firm last raised US$50 million in December 2024 from Haun Ventures, Coinbase Ventures, Tiger Global, and the venture arms of Visa and Citi. The reported deal follows Stripe’s US$1.1 billion purchase of stablecoin startup Bridge last year and reflects the accelerating integration of digital currencies into mainstream finance.   Featured image credit: Edited by Fintech News Switzerland, based on image by katemangostar via Freepik The post Coinbase, Mastercard in Billion-Dollar Race to Acquire BVNK appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

In Switzerland, financial literacy varies significantly by education, income, and region, reflecting notable socio-economic and cultural disparities in how individuals understand, manage, and plan their finances, according to a new study by Swiss online wealth management firm True Wealth, in collaboration with Dr. Michael Kendzia from the ZHAW School of Management and Law. The study, which polled more than 2,000 adults in German- and French-speaking areas of Switzerland in June 2025, found that high earners are scoring substantially higher than those with lower incomes. In particular, respondents with a gross monthly income above CHF 12,000 answered roughly 70% of questions correctly, compared to around 40% for households earning less than CHF 4,000. For reference, Switzerland’s gross monthly median wage stood at CHF 6,788 in 2022, according to the Federal Statistical Office (FSO). This shows that financial literacy not only correlates with higher income, but also contributes to economic success. People with strong financial knowledge make more informed decisions, which leads to more stable incomes and greater wealth accumulation in the long term. Proportion of correct answers by income, Source: True Wealth Financial Literacy Index 2025, True Wealth and Dr. Michael Kendzia from the ZHAW School of Management and Law, Sep 2025 Education is another critical factor, with striking differences based on educational attainment. Respondents with a higher level of education answered an average of 6.5 out of 10 questions correctly, while those with lower education averaged 3.7. Participants with lower educational levels also responded “I don’t know” significantly more often, suggesting that educational differences manifest not only in concrete knowledge, but also in the degree of confidence in their own financial abilities. These findings suggest that targeted educational initiatives could have a substantial impact, especially for people with limited formal education. Financial education contributes to greater economic resilience and social mobility in the long term, and should be an integral part of public education policy. Share of correct answers by education level, Source: True Wealth Financial Literacy Index 2025, True Wealth and Dr. Michael Kendzia from the ZHAW School of Management and Law, Sep 2025 Financial literacy higher in German-speaking Switzerland The study also found significant regional differences, with German-speaking Switzerland outperforming French-speaking Switzerland. In particular, German-speaking respondents answered an average of 56.8% of the questions correctly, compared to 47% in French-speaking regions. The gap is most pronounced on complex topics. For example, 72.7% of respondents in German-speaking Switzerland knew that an investment with higher expected returns is usually also associated with higher risk, against only 56.2% in French-speaking Switzerland. Understanding of exchange-traded funds (ETFs) also varies. Only 18.6% of respondents from French-speaking Switzerland were able to correctly name the key advantages of ETFs, namely lower fees and costs, and more than half of French-speaking Swiss answered “I don’t know” to this question, underscoring a knowledge gap in the area of passive investment. Avid investors These findings align with investment behaviors in Switzerland. People in German-speaking regions tend to invest more in public investments, including equities, ETFs, actively managed funds, and structured products, according to another 2025 survey by True Wealth. In French-speaking Switzerland, investments are more concentrated in private and real assets, such as real estate, private equity, and venture capital. Distribution of investment products by region, Source: ETF Study 2025, True Wealth and GfK Switzerland AG, Jun 2025 Age also influences investment preferences. Younger generations are more likely to invest in cryptocurrencies, with 27% of respondents aged 30-49 and 24% of those aged 16-29 reporting investing in digital assets, compared with only 10% of respondents aged 50-74. Distribution of investment products by age, Source: ETF Study 2025, True Wealth and GfK Switzerland AG, Jun 2025 Overall, financial literacy is increasing in Switzerland, with the True Wealth Financial Literacy Index for 2025 standing at 5.43 out of 10, marking a slight increase from 5.17 last year. Regarding investment, Swiss residents are generally active investors. Two-thirds participate in financial markets, with stocks (50%) and ETFs (30%) being the most popular investment instruments. Compared with other nations, Switzerland has a relatively larger and more active equity market. According to the Observatoire de l’Épargne Européenne (OEE), a French non-profit organization that studies household savings behavior in Europe, and the Association Française de la Gestion Financière (AFG), the country has one of the highest stock market capitalization-to-GDP ratios in the world at 224%. By comparison, that ratio stands at 158% in the US and 100% in the UK. At the lower end, Italy’s ratio is 36%, Germany’s 46%, and Spain’s 47%. Ratio of stock market capitalization to GDP, Source: Households’ long-term savings and stock market participation in Europe, OEE and AFG, Feb 2025   Featured image: Edited by Fintech News Switzerland, based on image by freepik via Freepik The post Financial Literacy Uneven Across Switzerland, with Wealthier and Better-Educated Populations Leading appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Artificial intelligence (AI) and machine learning (ML) are being increasingly adopted across financial services and telecommunications (telcos) to improve decision-making and reduce risks. A new study conducted by Forrester Consulting for credit reporting company Experian looks at the state of ML adoption in these sectors, revealing that approximately two-thirds of respondents are already using ML in live decisioning, while about one-quarter are experimenting with it. ML adoption across different use cases, Source: The ML divide in credit risk, Experian, 2025 Strong performance gains The study, which surveyed nearly 1,200 senior decision makers responsible for developing and implementing AI and ML in credit risk in financial services and telcos across 11 countries in Europe, the Middle East and Africa (EMEA) and Asia-Pacific (APAC), found that most are already seeing substantial benefits from using ML. More than half of the organizations that have adopted ML reported seeing a significant or large improvement in their acceptance rates for all categories of lending since adoption. Most notably, the biggest improvement is for small and medium-sized enterprise (SME) loans, with 88% seeing an improvement in acceptance rates for this segment. Impact of ML on acceptance rates, Source: The ML divide in credit risk, Experian, 2025 ML is also improving bad debt performance. 65% of respondents reported a significant or large improvement in their bad debt rates since adoption, with credit cards seeing the strongest uplift (86%). ML improves bad debt rates for all credit services, Source: The ML divide in credit risk, Experian, 2025 These gains are attributed to the greater predictive accuracy of these ML models, as well as their ability to analyze non-traditional data sources and better identify vulnerable customers. 70% of respondents cited operational efficiency and cost saving, as well as improved risk prediction, as the biggest benefits of ML. Based on Experian’s experience, ML models typically perform 5-20% better than the usual statistical models used in credit scoring. These systems also make the process faster and more efficient since they can evaluate alternative data variables automatically, test new data sources quickly, and reduce dependency on manual analytics, freeing up resources for strategic tasks. ML is also helping improve financial access, with 70% of those who are using advanced ML agreeing that the improved accuracy of these models means that they can widen access to credit for consumers who would otherwise be denied credit with traditional scorecards. Limited resources as top challenge to ML adoption Despite the clear benefits, several challenges are still hindering ML adoption. The most common barrier, cited by 55% of respondents, is the time and resources required to implement ML. Adding to this issue is the scarcity of AI talent. LinkedIn’s Jobs on the Rise 2025 report ranks AI and ML roles among the top fastest-growing positions in the US. Reuters estimates that in 2024, IT spending exceeded US$5.1 trillion, with AI spending pushing past US$550 billion. Yet, there was a hiring gap approaching 50% of all AI positions needed. Following time and resource constraints, the second biggest challenge, cited by 53% of respondents, is turning raw data into credit attributes that make up the individual features of each model. A lack of in-house expertise was also highlighted by half of respondents, reflecting broader concerns about access to specialized skilled labour. 66% of respondents expect the talent shortage to be a significant or large challenge over the next few years. Biggest challenges of implementing ML, Source: The ML divide in credit risk, Experian, 2025 Regulatory issues are also a major concern. 75% of respondents agreed that regulatory compliance is limiting their organization’s ability to innovate within credit decisioning, while 70% are holding back on implementing more automated ML credit decisions due to concerns about regulatory backlash. A similar percentage (66%) agreed that their national regulators lack a clear, consistent understanding of how ML models function in practice. AI, ML implementation among top business priorities Moving forward, 73% of respondents believe that organizations that adopt ML in credit underwriting will gain a significant long-term competitive advantage. Their top business priorities for the next one to three years include implementing AI and ML into risk decisions (76%), moving onto a unified data, analytics, decisioning, and fraud platform (75%), and improving the time to decision for customers (74%). Finally, 79% of respondents believe that in five years’ time, the vast majority of credit decisions will be fully automated. Top business priorities, Source: The ML divide in credit risk, Experian, 2025 In the financial services industry, AI and ML are being deployed in an array of use cases that extend beyond credit scoring. HSBC, for example, uses AI to fight financial crime, leveraging a system it developed in collaboration with Google. The platform helps it check about 900 million transactions for signs of financial crime each month, across 40 million customer accounts to identity suspicious activity. JPMorgan, meanwhile, spends about US$2 billion a year on developing AI technology, and reports that the resulting cost savings now offset its spending. In 2024, the bank launched its proprietary generative AI platform, LLM Suite, which enrolled 200,000 employees within eight months and support them with tasks such as idea generation, and content drafting. Worldwide spending on AI is forecast to total nearly US$1.5 trillion this year, up 50% year-over-year (YoY), according to Gartner, a business and technology insights company. By 2026, that amount is projected to rise by about 37% to more than US$2 trillion, led in large part by AI being more broadly integrated into products such as smartphones and PCs, as well as infrastructure.   Featured image: Edited by Fintech News Switzerland, based on image by freepik via Freepik The post Finance Firms, Telcos Integrate AI into Credit Underwriting to Improve Accuracy and Efficiency appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

UK’s Financial Conduct Authority (FCA) lifted its ban on crypto exchange-traded notes (ETNs) on 8 October, allowing investors a new way to gain exposure to cryptocurrencies. This is Money reports that these products, which track the price of digital assets without requiring investors to hold them directly, are similar to ETFs but carry higher risk. ETNs differ from physical ETFs in that they do not need to hold the underlying assets. Instead, providers aim to match the return of the tracked index by any method they choose. Figures from investing platform IG suggest the UK’s crypto market could grow by around 20% as new investors explore these products. However, retail investors will not be able to access crypto ETNs immediately. Providers must first submit prospectuses for FCA approval, and the FCA only began accepting drafts on 25 September. Investors are expected to gain access from at least 13 October. Discussions between the FCA and the London Stock Exchange (LSE) over whether a new exchange segment was needed for these products contributed to the delay. Thomas Brown, partner at Shoosmiths, described the delay as “concerning, especially given that European and US retail investors already enjoy access to similar products.” Harvey Knight, partner and head of UK financial services regulatory at Withers, said the delay “is not necessarily a mere operational blip but quite symptomatic of how the UK has handled its approach to crypto and digital assets more generally.” The FCA argued the delay was procedural. A spokesperson told This is Money: “We had to wait until the segment opened on the LSE before we could start reviewing prospectuses. That happened on 23 September, and we started accepting prospectuses for review two days later. We are progressing policy development in support of the development of a sustainable, competitive crypto sector. We want to rebalance risk, and lifting the ETN ban allows people to make the choice on whether such a high-risk investment is right for them.” Crypto ETNs carry counterparty and issuer risk rather than true asset ownership. Seventeen crypto ETNs are listed on the LSE, including products from WisdomTree, Fidelity and Invesco, but have been limited to institutional investors over the past year. HMRC confirmed on October 8 that these products can now be held in stocks and shares ISAs and registered pension schemes, offering tax-free exposure to cryptoassets for the first time. From April next year, however, they will be reclassified as qualifying investments for innovative finance ISAs and become ineligible for stocks and shares ISAs, though the government will review this as the market matures.   Featured image credit: Edited by Fintech News Switzerland, based on image by Art Rachen via Unsplash The post FCA Lifts Ban on Crypto ETNs, Retail Access Expected in October appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

US banking giant Citigroup has revised its 2030 forecast for the global stablecoin industry, citing strong market growth, accelerated adoption, and conducive regulatory developments. In a new outlook report, released in September 2025, the bank increased its base case forecast to US$1.9 trillion, up from the US$1.6 trillion it predicted in April 2025. It also lifted its bull case prediction from US$3.7 trillion to US$4 trillion, and its bear case to US$0.9 trillion, up from US$0.541 trillion. These increases reflect stronger adoption trends than previously anticipated, including new favorable regulations, increased institutional acceptance, and soaring transaction volumes across real-world applications. Estimating stablecoin market size by 2030 (US$ billion), Source: Stablecoins 2030: Web3 to Wall Street, Citi Institute Global Perspectives and Solutions, Sep 2025 Citigroup attributes almost half of its US$1.9 trillion base case stablecoin issuance forecast to deposit substitution in the US and overseas. It models stablecoin demand equivalent to 2.5% of 2030 US bank system deposits driven by the growth of digitally native companies, including e-commerce, promoting stablecoins as a means of payments and an in-platform token. Furthermore, the base case assumes a continuation of the crypto-related stablecoin issuance run rate observed over the past three years, or approximately 20% annually. The bull case, on the other hand, projects a faster annual growth trajectory of 30%, driven by increasing regulatory clarity and rising allocation of institutional capital into cryptocurrency assets. Additionally, the forecast assumes 10% substitution of US banknotes held overseas into stablecoins. It references this to the experience of gold exchange-traded funds (ETFs), which capture nearly 8% of the investible gold bars and coins market by offering a lower-friction investment vehicle. Stablecoin market size in 2030 (projection), Source: Stablecoins 2030: Web3 to Wall Street, Citi Institute Global Perspectives and Solutions, Sep 2025 Market growth and momentum Over the past six months, momentum in the global stablecoin market has accelerated, with issuance volumes growing over 20% during the period and rising by nearly 40% year-to-date (YTD). Issuance volumes currently stand at about US$280 billion, compared with US$200 billion at the start of the year. Stablecoin supply, 2020-2025, Source: Stablecoins 2030: Web3 to Wall Street, Citi Institute Global Perspectives and Solutions, Sep 2025 Stablecoin transaction volumes are also surging. Once negligible, these digital currencies now measure in the trillions of dollars annually, scaling rapidly compared to other traditional payment systems. On an adjusted basis, stablecoin volumes are running close to US$1 trillion per month in August 2025, nearly double the levels from just a year ago, the Citigroup report says. Stablecoin transaction volume versus other modes (US$ billion), Source: Stablecoins 2030: Web3 to Wall Street, Citi Institute Global Perspectives and Solutions, Sep 2025 Though stablecoin transaction volumes are still largely driven by crypto trading and related activities, these digital currencies are rapidly being adopted across cross-border payments, peer-to-peer (P2P) remittances, business-to-business (B2B) payments, and treasury management. Factors driving stablecoin interest Soaring stablecoin issuance and transaction volumes are being fueled by increased integration by payment networks, developments in layer-1 blockchains, and regulatory clarity in key markets, including the US and the European Union (EU). In July 2025, Paul S. Atkins, the chairman of the US’s Securities and Exchange Commission (SEC) unveiled Project Crypto, a commission-wide effort to modernize US securities regulation for digital assets. This initiative aims to implement recommendations from the President’s Working Group Report on Digital Asset Markets and seeks to establish a clear regulatory framework to classify crypto tokens as security, commodity, or others. One of the proposals includes a unified licensing regime that would allow firms to offer a full suite of crypto financial services, such as trading, staking, and lending. In the EU, the Markets in Crypto-Assets Regulation (MiCAR) entered into force in 2024, marking the first comprehensive crypto framework introduced by a major global economy. Key components of MiCA include licensing requirements for crypto-asset service providers, specific travel requirements, as well as rules covering the treatment of stablecoins. In Asia and the Middle East, the central banks are building regulatory sandboxes and licensing regimes for stablecoin providers, setting the stage for further institutional adoption. For example, Hong Kong introduced licensing rules for stablecoins in August 2025 to help strengthen trust, transparency, and oversight. Beyond regulations, other factors driving mainstream interest in stablecoins and on-chain money include increased integration of stablecoins by payment networks, including Visa and Mastercard, the introduction of tokenized deposits by banking institutions like JP Morgan and HSBC, as well as growth in tokenized financial assets. The market for tokenized assets, which involves using digital tokens recorded on a blockchain to represent ownership rights, is currently estimated at US$600 billion. Boston Consulting Group (BCG) and Ripple expect the market to achieve a compound annual growth rate (CAGR) of 53% through 2033, and reach US$18.9 trillion by then.   Featured image: Edited by Fintech News Switzerland, based on image by thanyakij-12 via Freepik The post Citigroup Raises 2030 Stablecoin Forecasts Amid Strong Market Growth appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Zurich-based YAPEAL has announced changes to its Board of Directors following the company’s General Assembly on 3 October. The company offers a digital-first platform providing integrated financial services to businesses and their end customers. As part of the regular renewal process, Board Members Werner Vontobel and François Rüf have stepped down. Eva Künzi has been newly elected as an independent member of the Board. Werner Vontobel, who served as Chairman of the Board until March 2025 and subsequently as a member, played a significant role in shaping the company over several years, including the establishment of YAPEAL’s governance and compliance structures. Eva Künzi brings extensive experience in legal, regulatory, and compliance matters and joins the Board as an independent member, ensuring continuity in these areas. François Rüf contributed to YAPEAL with his technical expertise and entrepreneurial experience. The Board continues to maintain strong technical competence through members including Stephan Murer, former CTO of UBS, and Christoph Burkhard, an experienced software entrepreneur. Dominik Bollier “We sincerely thank Werner Vontobel and François Rüf for their tireless dedication and major contributions to YAPEAL’s development,” said Dominik Bollier, Chairman of the Board. “They not only accompanied the company through decisive phases but, with their knowledge, experience, and personal commitment, helped to shape important strategic directions for the future. With Eva Künzi, we are gaining a recognised expert in Legal & Compliance who will help us successfully navigate the next stages of growth.” Founded in 2018, YAPEAL is a holder of Switzerland’s first fintech license issued by FINMA.   Featured image credit: Edited by Fintech News Switzerland, based on image by mkmult via Freepik The post YAPEAL Appoints Eva Künzi in Board Restructuring appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Checkout.com has entered a multi-year technology collaboration with Microsoft to enhance its payment infrastructure using Microsoft Azure’s cloud platform. Under the agreement, Checkout.com will migrate its core systems to Azure to improve the speed, security, and scalability of digital payments for its enterprise clients, which include eBay, ASOS, Vinted, Pinterest, and Klarna. The partnership supports both companies’ efforts to advance innovation and trust in the digital economy. Checkout.com’s AI-powered Intelligent Acceptance technology, which optimises payments in real time, will continue to help merchants improve acceptance rates, reduce costs, and increase revenue. Mariano Albera, Chief Technology Officer at Checkout.com, said: Mariano Albera “The Azure platform has leading machine learning capabilities, and Microsoft has long been a pioneer of embedding trust into every layer of cloud innovation so that organisations can build, run and scale critical workloads with absolute confidence.” Tyler Pichach, Global Head of Payments at Microsoft Financial Services, added: Tyler Pichach “The payments industry is a constant source of AI-powered innovation, and by collaborating and co-innovating with Microsoft, Checkout.com will be able to further enhance payment performance for merchants around the world.”     Featured image credit: Edited by Fintech News Switzerland, based on image by freepik The post Checkout.com to Use Microsoft Azure to Strengthen Payments Infrastructure appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

OpenAI has acquired Roi, a company founded three years ago with the goal of making investing more accessible through personalised financial technology. TechCrunch reports that only the start-up’s co-founder and CEO, Sujith Vishwajith, will join the Open AI team through the acquisition. Roi was established to build tools that tailor investment experiences to individual users. Over time, the company identified that personalisation extends beyond finance and plays a broader role in how software can adapt to people’s needs. The acquisition marks a new phase for Roi as its team joins OpenAI to continue developing its work on personalised technology within a larger AI-focused environment. In a post on X, Sujith said, Sujith Vishwajith “It was grateful to its users, investors, and supporters who contributed to its progress over the past three years.”           Featured image credit: Edited by Fintech News Switzerland, based on image by rawpixel.com via Freepik The post OpenAI Acquires Personalised Investing Platform Roi appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Soaring cryptocurrency prices over the past year have pushed the number of crypto millionaires to a record of 241,000 individuals worldwide as of July 2025, marking a remarkable 40% year-over-year (YoY) increase, according to a new report by British investment migration consultancy Henley & Partners. The report, which is based on in-house wealth tier models and open-source information from CoinMarketCap, Binance, BscScan, and Etherscam, also found significant increases in the number of crypto centi-millionaires and crypto billionaires. As of mid-2025, 450 individuals held US$100 million or more worth of crypto, up 38% YoY, while the number of individuals holding US$1 billion or more rose 29% YoY to 36. Worldwide crypto wealth statistics, Source: Crypto Wealth Report 2025, Henley & Partners, Sep 2025 This surge coincides with a broad rally in crypto markets. Over the past year, Bitcoin (BTC) nearly doubled in value, climbing from about US$63,000 to US$125,000, data from CoinGecko show. Similarly, Ether (ETH) gained 92% during the same period, soaring from about US$2,430 to US$4,690. Overall, total crypto market capitalization reached a record of US$4.3 trillion in early October 2025, reflecting a 91% YoY increase. Crypto trading volumes also surged, with total activity across centralized exchanges hitting a yearly peak of US$9.72 trillion in August 2025, rising 7.58% month-over-month (MoM), according to CoinDesk Data’s August 2025 Exchange Review. This growth was driven by derivatives trading, which jumped 7.92% to US$7.36 trillion and now accounts for 75.7% of all centralized exchange activity. Spot trading volumes also posted solid gains, climbing 6.55% to US$2.36 trillion in the market’s strongest showing since January. Monthly spot and derivatives crypto volume, Source: CoinDesk Data, Sep 2025 Booming crypto adoption among retail and institutions The boom in crypto prices parallels strong growth in crypto adoption across both retail and institutional markets. According to Triple-A, a licensed crypto payment service provider from Singapore, the number of crypto owners grew at a compound annual growth rate (CAGR) of 99% between 2018 to 2023. Growth has expanded more moderately since but remains nevertheless robust, with crypto ownership rising by 34% between 2023 and 2024, increasing from 420 million to 562 million. These growth rates far exceeds those of traditional payment methods, which expanded at an average of 8% annually between 2018 and 2023. Growth of crypto owners compared to traditional payment methods, Source: Triple-A, 2024 Between 2024 and 2025, crypto adoption was the strongest in Asia-Pacific (APAC), with India, Pakistan and Vietnam ranking among the world’s top five hubs for grassroots crypto activity, according to data from US-based blockchain analytics firm Chainalysis. During the 12 months ending June 2025, the region recorded the highest global growth rate, with the value received rising 69% from US$1.4 trillion to US$2.3 trillion. The 2025 Global Crypto Adoption Index Top 10, Source: Chainalysis, Sep 2025 Institutional participation is also rising sharply. A survey of 352 institutional investors conducted by Coinbase, in collaboration with EY-Parthenon practice, found that 86% had exposure to digital assets in January 2025, or plan to make digital asset allocations during the year. Nearly 70% viewed cryptocurrencies as the biggest opportunity to generate attractive risk-adjusted returns. In which asset classes do you see the biggest opportunities to generate attractive risk-adjusted returns? Source: 2025 Institutional Investor Digital Assets Survey, Coinbase, EY-Parthenon, Mar 2025 The study also revealed expanding participation in crypto markets, including decentralized finance (DeFi) use cases such as staking, lending, and derivatives. While only 24% of institutional investors engaged in DeFi in early 2025, this figure is set to triple to 74% in two years, according to survey respondents. The survey also found a growing appetite to invest in a broader set of assets beyond BTC and ETH, with an increase in interest in other assets including Ripple (XPR) and Solana (SOL). Though BTC (97%) and ETH (86%) remained the dominant holdings among institutional investors, 73% of the surveyed investors owned cryptocurrencies beyond these two assets. Which types of cryptocurrencies is your firm allocated to currently? [n=337] Source: 2025 Institutional Investor Digital Assets Survey, Coinbase, EY-Parthenon, Mar 2025The expansion of the crypto market is supported by several favorable developments. Notably, the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act) was signed into law on July 18, 2025, marking the USA’s first major national cryptocurrency legislation. The bill aims to regulate the stablecoin market, creating a clearer framework for banks, companies and other entities to issue digital currencies. These developments are fueling corporate enthusiasm. Companies like Walmart, and Expedia are exploring launching their own stablecoins to streamline global payments, reduce processing fees, and lessen reliance on traditional financial infrastructure, the Wall Street Journal reports. Meanwhile, affiliates of banking giants such as JP Morgan Chase, Bank of America, Citigroup, and Wells Fargo are considering launching a joint stablecoin.   Featured image: Edited by Fintech News Switzerland, based on image by thanyakij-12 via Freepik The post Global Crypto Wealth Surges, Driving 40% Increase in Millionaire Count appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

SIX, the operator of the Swiss Stock Exchange, is set to bring its digital asset division, SDX, in-house as it moves closer to becoming a blockchain-based marketplace. In May, it was announced that digital bonds issued on SDX would be traded exclusively on the SIX Swiss Exchange. Regarding equities, SDX supports both private securities and public assets. “Everyone acknowledges that securities and other assets will eventually become digital. Blockchain or distributed ledger technology has emerged as the preferred path to enable digital securities. Today, all exchanges are researching or leveraging the digital asset ecosystem,” the report notes. First reported by Bloomberg, SDX (Six Digital Exchange), the digital asset group founded in 2018, will now be managed by Marco Kessler, who oversees SIX’s Product and Development for Digital Assets, including its post-trade division. The report adds that SDX has now issued around US$3.1 billion of digital bonds, according to Crowfund Insider. When SDX was announced in late 2019, SIX described it as “the world’s first end-to-end platform for digital assets.”   Featured image credit: SIX The post SIX to Bring SDX Digital Asset Platform In-House appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Tap Global Group, a Gibraltar-based digital finance hub that combines money payments and cryptocurrency settlement services in a single app, has announced a strategic partnership with Moorwand, a UK Financial Conduct Authority (FCA)-regulated Electronic Money Institution (EMI). Under this agreement, Tap will integrate Moorwand’s Banking-as-a-Service (BaaS) platform to offer customers dedicated GBP accounts with Sort Codes and Account Numbers, as well as EUR accounts with individual IBANs. The partnership forms a key part of Tap’s strategy to develop what it describes as a “Fintech Super App,” bridging traditional financial systems with the digital asset economy. The integration of Moorwand’s payment infrastructure aims to remove a key friction point for users by reducing reliance on external bank accounts for funding. Customers will be able to receive payments directly from others and top up their Tap accounts without using separate banking platforms. This development is expected to strengthen Tap’s position as a primary financial account provider, enhancing user retention and overall assets under management. The collaboration will also enable faster and more reliable deposits and withdrawals through support for the UK’s Faster Payments system and the Single Euro Payments Area (SEPA). These improvements are designed to enhance the overall user experience by increasing transaction efficiency, reducing delays, and improving platform reliability. Looking ahead, Tap intends to build on this foundation by introducing direct third-party payments, allowing users to receive salaries and other regular payments straight into their Tap accounts. This feature, which will be introduced gradually before a full launch, aims to position Tap as one of the first UK-based crypto-native fintech companies to integrate everyday earnings directly with digital asset functionality. Arsen Torosian, CEO of Tap, said: Arsen Torosian “The Moorwand partnership provides the regulated, scalable infrastructure essential for our next phase of growth and serves as a launchpad for our most transformative feature yet: direct salary deposits. We are not just participating in the future of finance; we are actively building it on a foundation of innovation and regulatory integrity, creating a platform with the potential for scale that is robust, secure, and trusted.” Luc Gueriane, CEO of Moorwand, added: Luc Gueriane “Moorwand’s mission is to transform compliance into an enabler of innovation, and our partnership with Tap is a perfect embodiment of that vision. We are providing the critical, regulated payment infrastructure that allows pioneering companies like Tap to build the next generation of financial services, merging the worlds of payments and digital currencies in a compliant and secure manner.”   Featured image credit: Edited by Fintech News Switzerland, based on image by nasimabegumbari1968 via Freepik The post Tap to Offer GBP and EUR Accounts Through Moorwand Partnership appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Paris-based cybertech Filigran has completed a Series C funding round worth US$58 million, bringing its total funding to over US$100 million in three years. The round was led by Eurazeo’s Growth team, part of the European investment group Eurazeo, with participation from Deutsche Telekom’s investment arm T.Capital and existing investors Accel and Insight Partners. Following its previous US$35 million round a year ago, the new funding reflects growing global demand for Filigran’s solutions and continued revenue growth. The company plans to use the capital to expand into new regions, including the Pacific and the Middle East, with particular focus on Japan and Saudi Arabia. It will also strengthen its presence in the US and Europe by hiring new talent in France and Germany and enhancing collaboration with its open-source community, which has doubled in size over the past two years. The funds will support the development of OpenGRC, a third module for Filigran’s platform designed to complement its eXtended Threat Management (XTM) suite. The company will also advance its use of AI through the creation of an AI Agent platform, XTM One, and increase R&D efforts across its existing OpenCTI and OpenBAS solutions. Samuel Hassine “This Series C round is an important milestone in Filigran’s journey,” said Samuel Hassine, CEO of Filigran. “It reflects our commitment to enabling organisations to be more proactive against threats and to leverage intelligence at every level of their security strategy.” Founded in 2022 by Samuel Hassine and Julien Richard, Filigran’s XTM suite combines OpenCTI, which structures and operationalises global threat intelligence, and OpenBAS, a security validation platform that identifies vulnerabilities using real-time threat data. Filigran’s solutions are used by companies including Rivian and Bouygues Telecom, as well as public sector organisations such as the European Commission, the FBI, and several US, Australian, and European government agencies.   Featured image credit: Edited by Fintech News Switzerland, based on image by Who is Danny via Freepik The post Filigran Raises US$58M to Boost Global Cybersecurity Expansion appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Feedzai, an AI-native RiskOps platform for financial crime prevention, has been valued at over US$2 billion following an investment round of approximately US$75 million. The funding round included new institutional investors Lince Capital, Iberis Capital, and Explorer Investments, alongside continued support from Oxy Capital and Buenavista Equity Partners. Nuno Sebastiao “Fraud isn’t just numbers on a balance sheet. It’s families losing their life savings and businesses losing customers. Protecting people and organisations from financial crime is why we built Feedzai. This new investment round enables us to continue driving innovation to defend against whatever comes next,” said Nuno Sebastião, Co-Founder and CEO of Feedzai. Feedzai has evolved into a comprehensive platform for fraud, risk, and anti-money laundering teams, protecting more than US$70 billion in annualised payment volume across card transactions and bill payments. The company has recently launched Feedzai Orchestration and Feedzai IQ, tools designed to support financial institutions in making faster and more precise risk assessments. Over the past year, Feedzai has reported preventing more than US$2 billion in losses and saving over 20 million analyst hours. The company has also introduced the TRUST Framework, embedding responsible design into its generative AI systems to ensure they remain fair, explainable, and secure. Feedzai consolidates multiple financial crime tools into a single platform, addressing inefficiencies caused by disparate systems used across institutions. Its platform now supports a range of financial institution product lines, including bank account openings, credit card transactions, transaction monitoring, and payments.   Featured image credit: Edited by Fintech News Switzerland, based on image by rawpixel.com via Freepik The post Feedzai Secures $75M, Valuing AI-led Financial Crime Platform at $2B appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Visa has announced plans to launch a stablecoin prefunding pilot through Visa Direct, its global money movement platform that links more than 11 billion eligible cards, bank accounts, and digital wallets. The initiative aims to provide businesses with a new method to move money internationally, improving liquidity and modernising treasury operations in the digital-first economy. For years, cross-border payments have relied on systems that are often slow and costly, requiring capital to be held in advance. Through this pilot, Visa Direct will test stablecoins as a new funding source, with the goal of reducing friction, enabling quicker access to liquidity, and offering financial institutions greater flexibility in managing global payouts. Chris Newkirk “Cross-border payments have been stuck in outdated systems for far too long,” said Chris Newkirk, President, Commercial & Money Movement Solutions at Visa. “Visa Direct’s new stablecoins integration lays the groundwork for money to move instantly across the world, giving businesses more choice in how they pay.” The use of stablecoin prefunding could allow businesses to free up capital that would otherwise be tied down in pre-funded fiat accounts, improving liquidity while maintaining coverage for payouts. Institutions would be able to transfer money within minutes rather than days, creating more dynamic and responsive liquidity management. Stablecoins also offer a predictable settlement layer, potentially reducing exposure to currency fluctuations and stabilising treasury operations, all while lowering the cost of increasing pre-funding frequency. Under the pilot, businesses will send Visa stablecoins instead of fiat currency to fund payouts, with Visa treating these stablecoins as equivalent to “money in the bank.” The programme is designed for banks, remittance providers, and other financial institutions seeking faster and more adaptable ways to manage liquidity across borders. Visa is currently working with selected partners that meet the pilot criteria and intends to expand the programme in 2026.   Featured image credit: Edited by Fintech News Switzerland, based on image by jadethaicatwalk via Freepik This article first appeared on Fintech News Singapore The post Visa to Pilot Stablecoin Prefunding for Cross-Border Payments appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

This year, the European fintech industry is showing resilience, capturing a growing share of venture capital (VC) funding and recording year-on-year (YoY) increases. In H1 2025, the sector secured a total of EUR 3.6 billion, marking 23% YoY increase from EUR 2.9 billion in H1 2024, according to a new mid-year report by Finch Capital, a UK-based growth investor. Several trends are reshaping the sector, including artificial intelligence (AI) and stablecoins, the report says. Fintech shows resilience In H1 2025, fintech accounted for 23% of all VC and growth funding in Europe, marking a 5-point increase from 18% in H1 2024. This increase confirms the resilience of fintech, the industry’s position as the leading asset class for tech investors, and its role as the backbone of Europe’s tech ecosystem. After a trough in 2024, US investor activity in European fintech is rebounding this year, accounting for 28% of all transactions in H1 2025. Sequoia, a leading VC firm from the US that has backed iconic businesses like Apple, Google, and Airbnb, was the most active VC firm in the sector, with fintech representing 35% of its deal volume, neck-and-neck with UK-based Balderton. They were followed by Atomico, from the UK, and Speedinvest, from Austria, with fintech making up about 26-28% of their investments. Top investors deal volume in the last 6 months, Source: State of European Fintech 2025, Finch Capital, Sep 2025 This year, Europe has yet to see a recovery in deals above EUR 500 million. However, mid-market M&A remains active and presents the biggest potential for fintech startups and scale-ups. Total number of fintech exits in Europe, Source: State of European Fintech 2025, Finch Capital, Sep 2025 This dynamic has created a significant initial public offering (IPO) backlog. Currently, 22 European fintech companies are valued above US$2 billion, including Revolut, Checkout.com, Klarna, Rapyd, and Trade Republic. Together, they hold a combined valuation of US$150 billion. Fintech companies make up about half of Europe’s IPO backlog, compared to US$170 billion for 42 non-fintech firms. IPO backlog value, Source: State of European Fintech 2025, Finch Capital, Sep 2025 AI in financial services Another key trend outlined by Finch Capital is soaring adoption of AI in financial services, particularly in credit scoring, underwriting, and wealth management. According to the report, about 55% of lenders are piloting or scaling AI this year, with adoption projected to rise to nearly 70% by 2026. These players are turning to AI to improve the loan underwriting cycle. Currently, manual loan reviews take an average of 12 days. AI-assisted processes cut that cycle to 6 days, while full AI automation reduces this to just 2.5 days. Wealth managers, meanwhile, are embracing generative AI (genAI) to enhance customer experience and improve operational efficiencies. According to the 2025 EY-Parthenon Wealth and Asset Managers Generative AI Survey, 95% of the 100 wealth and asset managers surveyed are deploying at least three genAI use cases, while 77% of firms have either mandated existing teams to focus on genAI initiatives or have mobilized a team to solely focus on these initiatives. Respondents identified marketing, compliance and risk, and client onboarding as the top areas for genAI deployment. Functions where genAI has the highest impact in wealth and asset management, Source: EY-Parthenon Wealth and Asset managers Generative AI Survey March 2025 (n=100) Despite the momentum, AI fintech remains a nascent sector. Though these companies accounted for 21% of fintech deal volume in H1 2025, they represented just 7% of deal value in H1 2025, reflecting early-stage dynamics. Share of AI and ML in fintech deals, Source: State of European Fintech 2025, Finch Capital, Sep 2025 Payments at a crossroads Another key trend highlighted by Finch Capital is the profound changes taking place in the payment landscape, driven by the rise of stablecoins, and agentic AI. Favorable regulations such as the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act), combined with institutional backing from banks and payment firms, are fueling adoption of stablecoins. Stablecoins reached a total supply of US$250 billion in H1 2025, representing 10% of US currency in circulation. Adoption of stablecoins is particularly high in high-inflation economies such as Argentina and Venezuela, where inflation reached 117.8% and 48% in 2024, respectively. In these markets, US-backed stablecoins are being used to preserve savings, facilitate cross-border payments, and avoid government restrictions on buying US dollars. Agentic AI is also reshaping payments, with firms like Visa, Mastercard, and PayPal racing to build the agentic payment stack. Within the payment landscape, AI-driven agents are expected to take on tasks such as budgeting, bill payments, and dispute resolution. According to a 2025 BCG consumer survey, 81% of consumers are set to shop using agentic AI. In the coming years, more than US$1 trillion in spending, representing about 50% of total e-commerce expenditure today, could be agent assisted, with early adoption focused on routine purchases such as groceries, restaurant orders, and personal care products. Use of agentic AI for commerce, Source: 23rd annual Global Payments Report, Boston Consulting Group, Sep 2025 UK maintains leadership This year, the UK continues to dominant the European fintech landscape, netting 56% of total fintech funding in H1 2025 or just about EUR 2 billion. London alone accounted for 79% of this activity. Payments and wealth management were the leading verticals, with major rounds including Rapyd’s EUR 474 million raise, Dojo’s EUR 168 million growth round, and FNZ’s EUR 460 million round. Rapyd and Dojo are payment service providers, while FNZ is an end-to-end wealth management platform for financial institutions and wealth management firms. Capital invested in fintech in the UK (EUR million), Source: State of European Fintech 2025, Finch Capital, Sep 2025 Germany followed, posting strong performance and attracting increasing foreign investment. The country secured about EUR 500 million in fintech funding, with deals mostly concentrated in wealth management, banking, and digital currency. Notable transactions included Scalable Capital’s EUR 155 million raise, Solaris’ EUR 140 million venture round, and Nelly’s EUR 50 million Series B. Scalable Capital is a digital investment platform, Solaris is an embedded finance specialist, and Nelly is a finance platform for the healthcare sector. Capital invested in fintech in Germany (EUR million), Source: State of European Fintech 2025, Finch Capital, Sep 2025   Featured image: Edited by Fintech News Switzerland, based on image by smmedia.io via Freepik The post European Fintech Shows Resilience; AI, Stablecoin Emerge As Transformative Technologies appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Nearly 200 publicly traded companies are under scrutiny by the US Securities and Exchange Commission (SEC) over their crypto-focused treasury strategies, which have coincided with significant spikes in their stock prices. According to CCN, the Financial Industry Regulatory Authority (FINRA) and the SEC have launched inquiries into more than 200 firms that announced “crypto-treasury” plans in 2025. These strategies typically involve raising capital to acquire cryptocurrencies such as Bitcoin, Ethereum, or Solana for corporate balance sheets, following in the footsteps of MicroStrategy. The investigations focus on unusual trading patterns in the days or weeks prior to these disclosures, including sudden rises in stock prices and unusually high trading volumes. Regulators are examining whether these movements reflect insider trading or breaches of Regulation Fair Disclosure (Reg FD), which mandates that all investors receive equal access to material non-public information. The SEC and FINRA initiated the probes after market surveillance detected abnormal trading activity. Disclosures from the more than 200 companies were reviewed, with a subset flagged for deeper investigation. Many companies saw stock increases of 20–40% before announcing their crypto plans, with reports of clustered buy orders involving insiders, vendors, or brokers. Trading volumes spiked markedly, suggesting coordinated or informed activity. FINRA is also reviewing broker-dealer communications, including emails, chats, and calls, for potential leaks, while the SEC traces trades to possible tips. Companies experiencing notable pre-announcement stock surges include Trump Media & Technology Group, GameStop, and SharpLink Gaming. Former SEC enforcement lawyer David Chase noted that formal letters from FINRA reminding firms of Reg FD obligations are often the first step in investigations. Public companies pursuing corporate crypto treasuries are expected to raise more than US$100 billion this year to acquire digital assets. One striking example is Bitmine, a Bitcoin mining firm, which revealed Ethereum treasury plans in late June; its stock price surged from US$4.67 on 27 June to US$46.58 by July 2, nearly a tenfold increase in just a week. Similarly, firms such as Sharplink and ETHZila that began accumulating cryptocurrencies also saw substantial stock price gains.   Featured image credit: Edited by Fintech News Switzerland, based on image by ckybe via Freepik The post US SEC and FINRA Probe 200+ Firms Over Crypto-Treasury Deals appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Chur-based IT company Inventx has appointed Torsten Böttjer as Head of Cloud Services. In this role, he is responsible for the further development of Inventx’s hybrid cloud strategy for the Swiss financial and insurance market. The newly created position combines public and private cloud services under a single strategic leadership and aligns them with the current requirements of the financial and insurance sector. Torsten Böttjer reports directly to the CTO, Fabio Cortesi. Torsten Böttjer brings extensive leadership experience in the development and operation of cloud platforms. At Swisscom, Cisco and Oracle, he led key cloud initiatives, including the introduction of Oracle Cloud Infrastructure in Europe. Most recently, he headed cloud and infrastructure operations at Avaloq and advanced the automation of compliance processes in hybrid operating models for core banking services. The consolidation of responsibility for private and public cloud offerings allows for full flexibility: sensitive data and core systems operate securely in the ix.cloud, while the public cloud provides capacity for innovation-driven applications. Inventx operates its infrastructure independently across four highly available data centres in eastern Switzerland. The offering is complemented by managed public cloud services for organisations seeking to implement hybrid scenarios with a trusted Swiss partner. Torsten Böttjer “In a time of increasing geopolitical complexity, the combination of ix.cloud in our own Swiss data centres and leading public cloud platforms provides a significant advantage: our clients retain full control over their data while benefiting from maximum innovation potential. This hybrid architecture represents a tangible benefit for all Swiss banks and insurers. I look forward to further developing this advantage,” said Torsten Böttjer.   Featured image credit: Edited by Fintech News Switzerland, based on image by isaac1112 via Freepik The post Inventx Appoints Torsten Böttjer as Head of Cloud Services appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Ten years after its launch, digital bank Revolut has moved into new headquarters in London’s Canary Wharf, signalling its arrival among established financial institutions. The company now serves 65 million customers worldwide and aims to reach 100 million by 2027. Last year it reported a net profit of around CHF 900 million and is currently valued at about US$75 billion. Switzerland has become a key market for the bank, with over one million customers already. In an interview with Handelszeitung, David Tirado, Vice President Global Business and Profitability at Revolut, described the country as “one of our five key projects”, noting that Swiss users are among the most profitable in its portfolio due to strong demand for currency exchange and investment products. Revolut only began marketing in Switzerland after receiving approval for a local representation last year, yet reached close to a million customers without advertising. Tirado believes the bank could achieve similar penetration levels to Ireland, where it serves over 65% of the adult population. Profitability in Switzerland has already been achieved. David Tirado “One of our core objectives is not to make losses in any country,” Tirado said. Investments have been made in a local office, Swiss account numbers through Postfinance, and new offerings such as money market funds. The company is also seeing growing demand in the business segment, particularly from firms with international exposure. The bank does not yet provide loans in Switzerland but plans to expand this offering. Challenges remain, particularly with Swiss account numbers that are still issued under Postfinance, limiting their use as salary accounts. Tirado said Revolut is working to localise the product and is reviewing whether to operate under a Swiss banking licence or a full local branch. Revolut is also preparing to sponsor the Swiss Formula 1 team Sauber from 2026, which Tirado called “a strong commitment” to the market. One of the products that Revolut cannot yet announce for Switzerland is its entry into the payment acceptance business. This acquiring of payments for retail and hospitality is currently dominated in the country by the French company Worldline and has few competitors, such as Nexi and the digital provider SumUp. Tests have already been completed, and the bank is awaiting regulatory approval before rollout.   Featured image credit: Edited by Fintech News Switzerland, based on image by wirestock via Freepik The post Revolut Aims to Expand Swiss Market Amid Global Growth appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

The European Central Bank (ECB) has announced the conclusion of framework agreements for the five negotiated procurement procedures linked to the digital euro project. One of the agreements concerns the provision of an offline payment solution, with Giesecke+Devrient (G+D), in partnership with Nexi and Capgemini, ranked as the first tenderer. The planned offline capability is considered a key feature of the digital euro, ensuring payments can be made without third-party involvement. The ECB regards this functionality as essential for privacy and resilience, similar to the role of cash today. Transactions would be settled directly between users’ devices, such as smartphones, cards, and other compatible hardware, without internet connection or power supply. This approach would allow payments to be completed locally while avoiding the recording of details by banks, payment service providers, or central banks. The digital euro, issued by the Eurosystem, is designed to complement banknotes and coins by offering citizens greater flexibility in digital payments. Like cash, it is intended to be universally accessible across the euro area. Following the procurement procedure (PRO-009494 Digital Euro Offline Solution), the ECB has concluded a framework agreement for the design, development, and partial operation of the offline component. G+D, Nexi, and Capgemini will work together on its integration into the wider digital euro architecture and the Digital Euro Service Platform (DESP). The partnership combines G+D’s experience in security technologies and currency systems, Nexi’s expertise in payment technology and point-of-sale integration, and Capgemini’s role in technology consulting and digital transformation. Dr Wolfram Seidemann, CEO of G+D Currency Technology, said: Dr Wolfram Seidemann “We are proud to lead this pan-European cooperation, working together with our partners Nexi and Capgemini to bring the digital euro’s offline capabilities to life. This milestone underscores our commitment to innovation and security in digital payment solutions while preserving the privacy and resilience that citizens expect from cash.” Renato Martini, Digital Banking Solutions Director at Nexi Group, added: Renato Martini “As we accelerate the digitisation of payments across Europe, our ambition is to enable solutions that are not only innovative, but also resilient. We’re proud to contribute to the development of such an important part of the infrastructure for the digital euro leveraging our strength and knowledge within acceptance technology, that will help ensure seamless payments, also in situations where the terminal is offline.”   Featured image credit: Edited by Fintech News Switzerland, based on image by Who is Danny via Freepik The post ECB Selects Consortium to Develop Offline Payments for Digital Euro appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.