Monoup news digest: main updates from fintech industry

The fintech industry continues to evolve and we’re releasing our Friday digest to ensure you don’t miss anything important. Major players are dreaming of banking licenses to reduce their dependence on traditional banks and grow faster. Revolut, Monzo, and PayPal are all on the same track. What are their next steps, and how is the industry transforming? Let’s discuss further.

Meanwhile, other once-successful companies are searching for ways to revive themselves. QIWI, which lost its license in 2024, was one of the most popular and in-demand wallets among young audiences. However, insufficient anti-money laundering measures prevented led them to cease operations. By the end of 2025, the wallet is making a comeback with a new name, partners, and goals.

We’ll share all the details in this roundup.

PayPal Applies for a Bank Charter

PayPal plans to become PayPal Bank in the state of Utah by applying for an industrial bank license. This will allow it to independently issue loans and credit without relying on traditional banking partners. An industrial bank is not yet a full-fledged national bank, but it does allow for broader operations than PayPal’s current fintech status. PayPal will be able to reduce its dependence on financial service partners and control more elements of the chain.

Crypto companies usually opt for a simpler route — a trust bank license, which only allows them to store and manage assets. Recently, Circle, Ripple, Fidelity, BitGo, and Paxos received conditional approval for this type of license. PayPal, however, is going further by choosing a more complex but also more functional option.

Large payment companies aim to control the entire service chain — from payments to lending — to reduce costs and increase profitability. Although the payment business already has good margins, greater mobility will allow them to manage their own affairs without fearing changing bank policies, money freezes, or delays in payouts.

QIWI Relaunches as QPlus

After losing its license from the Central Bank of Russia in 2024, the QIWI group is reviving itself based on Euroalliance Bank and the microfinance company Zaymer. The new project is called QPlus and offers similar functionality: storing funds, making payments, and issuing virtual cards in tenge, which can be topped up in rubles. The international partner of QPlus is the payment system Qiwi Kazakhstan.

Given QIWI’s history, the event has already sparked debates about the potential use of the wallet and concerns about new sanctions.

At the same time, the motivation is understandable: why close a business with an established customer base? The company is using a familiar path: registering in a more lenient jurisdiction plus partnering with a Russian bank to access ruble transactions. However, reputational and sanction risks for partners remain high, and the wallet’s future opportunities will largely depend on them.

Money Laundering Scandal in Turkey

Following the high-profile case with Papara, gambling investigations in Turkey continue. The media platform Gain Media and its parent company Anahat Holding are under investigation, accused of aiding illegal casino operators. On December 16, 2025, three managers of the holding were arrested on charges of using corporate accounts for transactions in favor of online casinos.

The investigation was primarily concerned with unexplained deposits into the companies’ accounts, totaling $10.5 million from April 2024 to January 2025. In November 2024, Gain Media’s capital increased to $23.4 million due to contributions from the founder, but the origin of these funds was not explained.

The company’s financing came from an influx of funds from abroad, which itself raised questions. Given the volume, frequency, and methods of these transactions (large transfers), they were deemed suspicious.

Turkish authorities are taking a systematic approach to combate illegal gambling, targeting not only payment services (like Papara) but also any companies through which suspicious transactions go. For payment providers, this signals that compliance for transactions related to Turkey must be at the highest level.

Visa Chooses Circle’s USDC

Visa has launched support for transaction settlements in USDC via the Solana blockchain to accelerate settlements between participating banks. Traditional settlements take place over the course of a banking day and can spill over into the next, whereas using crypto reduces the process to a matter of minutes. Additionally, transactions cost tens of times less than standard ACH.

For now, two small banks — Cross River Bank and Lead Bank — are participating in the pilot.

Visa is betting on stablecoins as the future of interbank settlements. The choice of USDC over USDT is no coincidence: Circle has a more transparent reserve structure and is better suited for institutional clients.

Visa Creates Stablecoin Consulting

Another piece of news from Visa further highlights the direction they’ve taken. Following the successful launch of USDC settlements, Visa is offering the market practical support in the European region through consulting for banks, fintech, and merchants on stablecoin adoption. The new practice includes training and programs on market trends (including a new Visa University course), developing stablecoin adoption strategies, planning market entry, and providing technological support for integration.

Visa’s stablecoin settlement volume reached $3.5 billion annually as of November 30, 2025. Visa already has over 130 card issuance programs linked to stablecoins in 40+ countries.

In the end, even Visa acknowledges that payment consulting is critically important for businesses adopting new technologies. While Visa focuses on global strategy, specialized consultants like Monoup work with specific industries — payments for gaming, dating, and e-commerce projects — providing not just strategy but also practical implementation and optimization.

If the world’s largest payment network is creating a separate division to train clients on working with stablecoins, it means this is truly in demand. In the payment industry, specialized expertise — both in technology and regional specifics — can become your clear competitive advantage.

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