Monoup News Digest: Main Updates from Fintech Industry
Friday's news digest from Monoup covers the key events of this week, briefly and to the point.
Polish fintech ZEN has long been planning to enter the neighboring Ukrainian market, as the company already serves a large number of Ukrainians living in Poland. Expanding into the home market is a logical next step, and ZEN is taking it through the acquisition of a Ukrainian bank. Below, we cover how the deal concluded and what ZEN's plans for Ukraine look like.
Meanwhile, Nuvei, one of the largest payment providers for the gaming industry, has secured local payment rails in Mexico. Latin America's second-largest market shows consistent year-on-year e-commerce growth, and operating there without local agreements is becoming increasingly difficult. Based on our experience, European acquirers tend to underperform in this market, and a local processor is simply essential for anyone targeting Mexico specifically.
More on this and other news below.
ZEN Acquired a Bank in Ukraine
ZEN COM has acquired 100% of Ukrainian PINbank shares and plans to develop it as a digital payments institution, with no focus on credits. This is worth noting, as it fundamentally sets ZEN apart from major global competitors like Revolut and PayPal, both of which have a strong interest in credit products and are actively pursuing the ability to operate as credit organizations.
The transfer of ownership was completed just days ago, on April 20th, and the rollout of the first digital services is expected to begin shortly. According to the company, the target customers will be individuals and sole traders who need fast international payments and convenient digital interfaces. ZEN intends to turn PINbank's infrastructure into a serious competitor to local players Monobank and PrivatBank, with a clear focus on digital service delivery and customer support.
It is worth highlighting that in Ukraine, ZEN has taken a differentiated approach by acquiring an existing financial institution. Revolut's earlier attempt to enter the market did not succeed due to regulatory issues and operating without the appropriate license.
Nuvei Launches Local Acquiring in Mexico
The payment company confirmed on its official website the launch of direct Mexican acquiring, and now offers integration with local infrastructure without international intermediaries.
Mexico remains one of the largest markets where, unlike emerging African countries — which are also of interest to businesses — the financial infrastructure is already well established, major players are present, and stable online consumer access exists.
In addition to card processing, Nuvei will provide merchants with OXXO Pay and SPEI, as well as payouts, which effectively covers the needs of most businesses in the region across all directions. Nuvei already holds 52 local licenses as part of its strategy of operating globally on local terms. This approach is genuinely delivering results, as it allows the company not only to offer better payment methods but also to significantly cut costs on intermediary fees. The cost of licenses and local setups should of course be factored in, but for the volumes Nuvei processes, these expenses are justified. For smaller payment companies, it makes more sense to launch on the existing flows of intermediaries rather than spending years building their own infrastructure.
Coinbase Launched AI Agents Modelled on its Former Executives
While the market has been cautiously watching AI, expecting it to displace regular employees first, Coinbase made a 180-degree turn and started at the top — introducing two agents modelled on former members of its senior leadership: Fred and Balaji.
Fred, named after the company's co-founder, and Balaji, inspired by the former CTO, have already begun performing their duties. Fred is the strategist — he helps employees prioritize tasks and provides feedback. Balaji is the challenger — he questions every idea and pushes for innovation. They are effectively two opposites covering the company's strategic functions.
The new colleagues appear in Slack and via email, which makes them almost indistinguishable from regular remote employees. Coinbase's CEO stated that the number of agents in the company could eventually exceed the number of people, and that soon every employee will be able to create their own digital colleague — or several.
What we are witnessing is a sharp shift from “AI will handle your analytics and routine tasks” to “AI will manage you” — and it is happening faster than expected. It seems agents will now compete not only with regular employees but with management as well, and may eventually start launching their own startups while humans will simply watch.
Tether Froze $344 Million in USDT
On April 23rd, Tether carried out its largest single enforcement action in order to freeze $344 million in USDT across several addresses on the Tron network. One address held approximately $212.9 million in USDT, the second around $131.3 million.
The freeze was initiated by OFAC and the US government, as the funds were linked to illegal activity. The exact nature of that activity and the identity of the wallet owners remain unknown, as no official information has been released — though the addresses are tentatively linked to large criminal organizations from Southeast Asia involved in fake investment website schemes.
This is not the first time Tether has cooperated with authorities, and as it turns out, it will not be the last. Commenting on the high-profile case, the company's CEO stated that USDT will not become a “safe haven for illicit activity.”
That is the news the MonoTalks editorial team has prepared for you today. More updates, case studies, and breaking news are available in our Telegram channel — and stay tuned for new articles on the website. Staying in touch!
