Fintech this week moved on the policy, infrastructure, and capital fronts that determine where the industry can go next.
The White House signaled a major shift in how non-bank firms might access the Federal Reserve’s payment system. A leading payments infrastructure platform closed a fresh round to scale AI agents and US growth. A dominant stablecoin issuer backed a cross-border payments platform to push USDT into emerging-market remittance corridors. A global payments processor and a UK digital bank embedded card acceptance directly into the banking app for small businesses. And a stablecoin-powered neobank raised growth capital to expand its banking model across Asia, Africa, and the Middle East.
The thread connecting these moves is access. Access to payment rails, access to cross-border settlement, access to financial services in markets that traditional infrastructure has not reached.
1) Trump Signs Executive Order Directing Fed and Regulators to Review Fintech Access to Payment Systems
President Donald Trump signed an executive order on May 19 titled “Integrating Financial Technology Innovation into Regulatory Frameworks,” directing federal financial regulators and the Federal Reserve to review policies that may restrict fintech and digital asset firms from accessing US payment infrastructure.
The order directs the heads of federal financial regulators to review their existing rules over the next three months and identify any rules or documents that unduly impede fintech firms from entering into partnerships with federally regulated institutions. Within six months, regulators must take steps to encourage innovation as a result of the review.
The order also asks the Federal Reserve Board of Governors to review how it allows uninsured depository institutions and non-bank financial firms access to payment accounts and services, and asks the 12 Federal Reserve banks if they can act independently of the board to grant payment accounts. The provision may specifically benefit Wyoming special purpose depository institutions and entities operating under a similar framework. The Federal Reserve Bank of Kansas already granted Kraken, a Wyoming SPDI, access to a limited version of its so-called master account earlier this year.
The order represents one of the most significant federal signals in years on how non-bank financial firms could be integrated into the core US payments system, with downstream implications for stablecoin issuers, fintechs, and special-purpose depository institutions.
2) Primer Closes $100 Million Series C to Scale AI Payments Infrastructure and US Expansion
Primer has raised $100 million in a Series C funding round to expand its AI-enabled payments infrastructure platform and accelerate growth in the United States.
The round was led by Sofina, with Peak XV Partners joining as a new investor, alongside continued participation from existing investors Balderton, Accel, ICONIQ, Tencent, and Speedinvest. The raise brings Primer’s total funding to $170 million.
The capital will be used to expand the capabilities of Primer Companion, the company’s proprietary AI agent launched in November 2025, and to fund US expansion. Primer intends to grow US revenue to more than a third of its total business by 2028 and plans to hire up to 50 roles in the country to support that push.
Primer’s platform connects merchants to payment service providers and gives them control over their full payment stack. Payments heavyweights Checkout.com, Stripe, WorldPay, and Klarna are all available through the platform. Founded in 2020 by ex-PayPal employees, Primer is doubling down on AI investment with the new funds, expanding Primer Companion’s capabilities so it can operate autonomously using parameters set by merchants. The Series C reflects continued investor appetite for infrastructure plays that combine payments orchestration with AI-driven automation, as enterprise buyers increasingly look for unified systems to manage cross-provider payment operations.
3) Tether Invests in LemFi to Integrate USDT Across Cross-Border Remittance Corridors
Tether, the issuer of leading stablecoin USDT, has made a strategic investment in LemFi, a financial platform serving millions of people who live and work across borders. The financial terms of the investment were not disclosed.
LemFi connects communities across the UK, US, Canada, and Europe to family and loved ones in Africa and Asia. The deal centers on integrating USD₮ as a settlement layer across LemFi’s key corridors, replacing multi-day SWIFT chains with near-instant, low-cost settlement across Africa and Asia. Tether will also help accelerate LemFi’s stablecoin infrastructure, which will progressively extend across its broader product suite.
In the announcement, Tether CEO Paolo Ardoino said the investment reflects a shared vision on how money moves across borders, prioritizing speed, cost, and transparency, and is intended to help bring the benefits of a stable digital asset to more people who rely on remittances in their daily lives. LemFi CEO and co-founder Ridwan Olalere said integrating USD₮ into LemFi’s infrastructure will enable faster, cheaper, and more reliable financial services for the millions of people who depend on the platform every day.
The deal reflects how stablecoin issuers are competing for real-world payment corridors beyond crypto-native demand. For Tether, distribution partnerships with established remittance platforms have become a key channel for embedding USDT as settlement infrastructure in markets where dollar access, payment delays, and foreign exchange costs remain persistent friction points.
4) Adyen and Starling Bank Launch Tap-to-Pay for UK Small Businesses Inside the Starling App
Adyen has partnered with Starling Bank to bring contactless payment acceptance directly into the Starling app for small and medium-sized business customers in the UK.
The collaboration launches with tap to pay functionality, enabling Starling’s SME customers to accept contactless card payments directly on their smartphones without requiring any additional hardware. Adyen’s technology is embedded within the Starling app, meaning business owners never need to leave the banking environment to process a transaction. Once configured, the feature can be activated within minutes, with funds settled into the customer’s account the following day. The full payment lifecycle, from onboarding through to settlement and refunds, is handled entirely within the Starling ecosystem.
Payments are processed via NFC technology, with support for PIN entry directly on the phone and accessibility options built in. Transaction data and card details are not stored on the device or on any servers, with security managed through the device’s built-in protections. Later in 2026, Starling plans to integrate card payment links into its existing free in-app invoicing tool, giving SMEs a way to collect payments via card or mobile wallet in just a few clicks.
The partnership reflects a broader pattern in SME banking, where digital banks are extending beyond core current account services into embedded commerce, billing, and payment acceptance. For Adyen, the deal places its acquiring technology directly inside the banking workflow of one of the UK’s largest SME-focused digital banks.
5) Fasset Raises $51 Million Series B to Scale Stablecoin-Powered Banking Across Emerging Markets
Fasset, a stablecoin-powered neobank, has closed a $51 million Series B funding round to expand its digital banking platform across emerging markets in Asia, Africa, and the Middle East.
The Los Angeles-headquartered company drew backing from Japan’s SBI Group, Bahrain-based global asset manager Investcorp, and Turkish asset manager Arz Portföy. The startup uses stablecoins to move money across more than 50 payment corridors, processing over $32 billion in annualized transaction volume for more than 1,000 small and medium-sized businesses across 125 countries. The company has not disclosed the valuation at which the investment took place.
Fasset said it plans to use the funding to enter additional markets, develop lending and trade finance products for small businesses, and grow what it calls “Own Network,” its proprietary infrastructure for stablecoin payments and custody. The company recently partnered with USDT issuer Tether to launch what it described as a gold-backed neobanking card tied to tokenized assets. Fasset holds regulatory approvals across the UAE, Indonesia, Malaysia, the EU, Türkiye, Pakistan, and several additional jurisdictions.
Fasset CEO and co-founder Mohammad Raafi Hossain said the funding round strengthens the company’s ability to build regulated banking services and expand into new markets where its services are needed most. The deal underscores how stablecoin-based banking models are gaining traction as a working alternative to legacy correspondent banking in emerging markets, where access to dollars, reliable settlement, and affordable cross-border payments remain core challenges.
