Author: Julie Muhn (@julieschicktanz)

Insuretech Company bolttech Raises $147 Million at a $2.1 Billion Valuation

Insuretech Company bolttech Raises $147 Million at a $2.1 Billion Valuation
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Funding
  • bolttech raised $147 million in a Series C round, bringing its total funding to over $690 million and boosting its valuation to $2.1 billion.
  • Sumitomo joined as a strategic investor and partner, forming a joint venture with bolttech to expand embedded insurance across Asia.
  • bolttech’s platform powers embedded insurance for industries like telecom, e-commerce, and banking, making insurance a seamless part of the digital buying experience.

Singapore-based insurtech company bolttech announced this week that it has closed its Series C round after raising $147 million.

Closing out today’s round were Sumitomo Corporation and Iberis Capital as strategic investors. The funds bring bolttech’s total funding to somewhere north of $690 million and boost the company’s valuation to $2.1 billion. Previous investors to the Series C round are Dragon Fund, Baillie Gifford, Generali’s Lion River, and others.

For its part, Sumitomo Corporation has not just become a strategic investor, but it has also entered a joint venture with bolttech to deliver embedded insurance programs for its Asia-based partners. This signals not only a financial endorsement but also a strategic distribution partnership in Asia, which is generally a region ripe for fintech growth.

“We are thrilled to join forces with bolttech—both as a strategic investor and through our joint venture,” said Sumitomo Group CEO of Media & Digital Group Shinichi Kato. “We are confident that this partnership will enable us to work closely with the bolttech team to drive growth and innovation across the Asia region.”

Founded in 2020, bolttech operates an embedded insurance platform. The company allows clients in telecom, banking, e-commerce, and retail to embed insurance offerings within their existing customer journeys. For example, a customer purchasing a mobile phone online might be offered device protection at checkout, powered by bolttech’s infrastructure. bolttech supports this with a modular tech stack that includes product recommendation engines, policy administration, claims management, and partner onboarding. The company works with hundreds of insurers and partners across industries, serving millions of customers in 37 markets across four continents.

bolttech anticipates that the Series C round will enable it to enhance the platform’s capabilities and accelerate its global growth strategy, making insurance more personalized, accessible, affordable, and convenient for customers.

“We are delighted to welcome our newest strategic investors Sumitomo Corporation and Iberis Capital as we successfully close our Series C,” said bolttech Group CEO Rob Schimek. “This investment is a strong endorsement of our unique business proposition, reinforcing our commitment to enabling a better insurance experience for customers worldwide. We are excited to continue our journey to build the future of insurance, working towards our vision of connecting people with more ways to protect the things they value.”

The funding shows increased interest in embedded insurance, which is rising to become one of the fastest-growing sectors within insurtech. As embedded finance matures, bolttech’s ability to plug insurance directly into partner platforms helps make insurance an invisible part of the digital customer experience.

Photo by Vlad Deep on Unsplash

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PayPal to Ship Physical Credit Card

PayPal to Ship Physical Credit Card
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, PayPal
  • PayPal launched a physical credit card, expanding PayPal Credit’s reach from online use to in-store purchases, with no annual fee and flexible repayment options for travel purchases.
  • At launch, the card is offering buy now, pay later flexibility that will allow customers to spread travel costs over six months and access additional BNPL loans at checkout.
  • Despite its practicality, PayPal’s new card takes a more conventional approach compared to other fintechs that offer bold designs, tiered rewards, or unique incentives like stock or credit-building tools.

In a time dominated by digital payments, physical cards are holding strong. This week, fintech pioneer PayPal introduced a new physical credit card, extending the reach of PayPal Credit from online purchases to in-store payments.

The new card, which is issued by Synchrony, will allow customers to leverage buy now, pay later (BNPL) payment options. At launch, new card customers will have the option to pay for their travel purchases made by January 31, 2026, over the course of six months. Leveraging the BNPL model in combination with the flexibility of a credit card gives account holders more ways to pay for travel purchases by spreading the cost over time to best suit their cash flow.

For further payment flexibility, customers can also apply for a PayPal Buy Now Pay Later loan at the point of sale to break their purchases into smaller payments over weeks or months. The card also comes with no annual fee, purchase protection, ID theft protection, and travel concierge services.

“PayPal Credit is one of our most popular products and customers have long been requesting the ability to use it on-the-go as they look for more choice and flexibility wherever they shop,” said PayPal SVP, Global Head of Consumer Financial Services Scott Young. “From our buy now pay later options to our credit cards, we continue to bring customers a range of solutions to help them manage cash flow and pay in the ways that suits their budgets for the things they love and need.”

Credit is not new to PayPal. The company launched PayPal Credit, formerly known as Bill Me Later, in 2008, after PayPal’s then-parent company eBay acquired Bill Me Later for $945 million. Physical cards are not new for PayPal, either. The California-based company launched its Business Debit Mastercard in 2003 and began issuing debit cards for Venmo users in 2018.

PayPal said that the physical card will begin rolling out “in the coming weeks” to US customers.

PayPal’s move into physical credit cards comes as no surprise, but its approach is. While many consumer-facing fintechs have leaned into creative card designs and differentiated perks like sleek metal cards, bold rainbow finishes, or eco-friendly recycled materials, PayPal has opted for a more traditional route. Other fintechs have layered in tiered rewards, credit-building features, or even stock-based incentives. Though PayPal’s flexible repayment option for travel purchases adds some value, its new card feels relatively conservative compared to the more imaginative offerings from its fintech peers.

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Feedzai Launches Fraud Intelligence Solution Feedzai IQ

Feedzai Launches Fraud Intelligence Solution Feedzai IQ
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Feedzai
  • Feedzai has launched Feedzai IQ, a fraud intelligence solution that uses anonymized, distributed data to deliver real-time risk assessments without compromising customer privacy.
  • Key features include TrustScore and TrustSignals, which provide network-wide fraud risk scores and indicators to improve accuracy and payment acceptance.
  • Early adopters like Jack Henry and Novobanco are piloting the solution, signaling a growing industry shift toward collaborative, AI-driven fraud prevention.

Risk management provider Feedzai unveiled today that it has launched Feedzai IQ, a new fraud intelligence layer that uses anonymized, network-wide data to detect financial crime in real time without compromising privacy.

Unlike traditional data-sharing models that raise privacy and compliance concerns, Feedzai IQ uses anonymized, distributed data to generate real-time fraud insights without sharing raw customer data. This allows financial institutions to tap into the collective intelligence of the network while protecting sensitive information.

“We’ve always believed that the true power of AI is only unlocked through access to meaningful, high-quality data,” said Feedzai Chief Product Officer Pedro Barata. “While AI is surrounded by hype today, Feedzai has led the way in applying real AI to real problems—and now, with Feedzai IQ, we’re combining our AI expertise with secure, network-wide intelligence. It’s a breakthrough that takes fraud prevention to an entirely new level.”

Key elements to Feedzai IQ are TrustScore, which offers a real-time fraud risk score based on network-wide intelligence; and TrustSignals, risk indicators that increase accuracy and improve payment acceptance.

Among the firms piloting Feedzai IQ are industry leaders Jack Henry and Novobanco, signaling growing demand for fraud intelligence tools that balance security and customer experience. “Technology is enabling increasingly sophisticated fraud threats,” said Matt Riley, President of Complimentary Solutions at Jack Henry. “Innovations such as Feedzai IQ contribute significantly to the industry’s ability to adapt to emerging threats and enhance operational effectiveness.”

Feedzai was founded in 2011 as a risk operations platform specializing in identity verification, fraud prevention, and financial crime detection. The company’s AI-powered solutions span KYC, AML, watchlist screening, and transaction fraud monitoring to help financial institutions stop fraud in real time without compromising the customer experience. Today, Feedzai protects over one billion consumers in more than 190 countries and safeguards over $8 billion in transactions annually.


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KeyBank Taps Personetics to Give Customers Insights into Spending

KeyBank Taps Personetics to Give Customers Insights into Spending
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Personetics
  • KeyBank has partnered with Personetics to integrate AI-driven financial wellness tools that offer real-time, personalized advice based on customers’ spending.
  • The bank will use Personetics’ Engage platform to deliver insights that help users make smarter financial decisions.
  • The move will help boost engagement and foster long-term customer loyalty.

KeyBank announced this morning that it has partnered with Personetics to bring financial wellness to its customers. The Ohio-based bank will leverage Personetics’ Cognitive Banking platform, which analyzes consumer transactions and delivers advice.

Specifically, KeyBank will use Personetics’ Engage, a client experience that offers customers spending insights and recommendations based on their spending and savings habits.

KeyBank will implement Personetics’ Engage solution, which uses AI to deliver real-time, personalized insights based on customers’ spending and saving patterns. By identifying trends and anticipating future needs, Engage offers timely, actionable advice to help users make smarter financial decisions and reach their goals in order to transform the banking experience from transactional to advisory.

By embedding Personetics’ cognitive banking tools into its digital offering, KeyBank will help improve customer engagement, reduce attrition, and create new revenue opportunities through better financial outcomes.

“KeyBank’s mission is to help clients and communities thrive. A large part of that mission centers in helping clients move forward on their financial journeys and reach their financial goals,” said KeyBank Head of Consumer Digital Emily Gessner. “By leveraging Personetics’ platform and experience, we will address the financial burden and stress consumers face by empowering our clients with real-time insights and guidance to help them effectively manage their financial futures.”

KeyBank was founded in 1825 and has 1,000 branches across the US. The bank has acquired AQN Strategies, HelloWallet, First Niagara Financial Group, EverTrust Financial Group, Leasetec, and most recently BaaS provider XUP. Among the company’s strategic partners are AvidXchange, BillTrust, and Bill.com.

Headquartered in New York, and with offices in London, Tel Aviv, and Singapore, Personetics counts more than 150 million bank customers across the globe. The fintech was founded in 2010 and strives to help banks create “self-driving finance” experiences for its customers. Under this concept, banks leverage AI to proactively act on behalf of their clients to help them achieve their financial goals.

“This partnership isn’t just about innovation—it’s about using intelligent technology to forge deeper human relationships between banks and the people they serve,” said Personetics CEO Udi Ziv. “Cognitive Banking redefines how banks understand and support their customers and, as a result, fosters customer loyalty.”

Photo by Magda Ehlers

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By Julie Muhn (@julieschicktanz) Posted on
Categories: Fintech Rundown

The calendar turned over to June yesterday, which means that there’s just one month left until the summer news slowdown. Here’s your jumpstart on June’s fintech news. We’ll continue adding news to this post throughout the week, so stay tuned!

Payments

European paytech provider Tribe Payments announces partnership with Singapore-based Treasury Operating System (TOS) Finmo.

Payments platform PXP partners with payment acceptance solutions company Castles Technology.

Splitit and Citcon team up to bring card-linked installment payments to international merchants.

Mortgagetech

Vontive receives $150 million revolving securitization from Citi.

Nova Credit integrates cash flow underwriting into Yardi’s resident screening solution.

GoodLeap unveils new comprehensive payment platform for contractors.

Challenger banking

Monzo reported revenue above 1 billion pounds ($1.35 billion) for the first time.

Accounting

Infosys BPM unveils AI agents to revolutionize finance and accounting services.

Data aggregation

Plaid collaborates with Visa to power smarter pay-by-bank experiences, launching first in the UK and expanding across Europe. 

DeFi

RedotPay joins Circle payment network to power crypto-to-fiat cross-border payments.

Financial inclusion

Financial Plus Credit Union announces partnership with Credit Mountain.

Lending and credit

Stratyfy and Parlay Finance forge strategic partnership to help community banks offer AI-powered lending solutions to their small business customers.

Marqeta announces collaboration with Perpay to power the firm’s credit card.

Fraud prevention

AU10TIX launches continuous AML risk monitoring.

Insurtech

Bamboo Insurance inks partnership with digital insurance platform ManageMy.

Photo by Boris Pavlikovsky


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Block to Launch Bitcoin Payments on Square

Block to Launch Bitcoin Payments on Square
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • Block is launching Bitcoin for Businesses, a new feature that enables Square merchants to accept bitcoin payments via the Lightning Network, starting in late 2025.
  • The feature builds on Block’s existing Bitcoin Conversions tool, which allows merchants to automatically convert a portion of sales into bitcoin and offer seamless QR code payments.
  • This move reinforces Block’s commitment to bitcoin adoption and helps integrate crypto into everyday commerce.

Block is bringing bitcoin to the point of sale. The company behind Square announced this week that it will launch Bitcoin For Businesses, enabling merchants to accept bitcoin payments directly on Square hardware using the Lightning Network, a decentralized network using blockchain smart contracts for instant, low-cost payments.

The new offering on Square’s Point of Sale app leverages the Lightning Network to facilitate near-instant, low-cost transactions. Square’s integration calculates the real-time exchange rate and sends confirmation notifications.

This new functionality builds on Bitcoin Conversions, a feature Block launched in 2024 that allows merchants to automatically convert a portion of daily sales into bitcoin, accept bitcoin payments via QR code, and benefit from real-time exchange rates and instant confirmation. Combined, Bitcoin For Business and Bitcoin Conversions will create a more seamless experience for merchants, letting customers pay with bitcoin by scanning a QR code at checkout.

“Block has long been a champion of bitcoin, focused on making it more accessible and usable in our everyday lives,” said Block Bitcoin Product Lead Miles Suter. “Rolling out a native bitcoin experience to millions of sellers brings us one step closer to that goal. When a coffee shop or retail store can accept bitcoin through Square, small businesses get paid faster, and get to keep more of their revenue. This is about economic empowerment for merchants who like to have options when it comes to accepting payments.”

Bitcoin For Business will roll out in the second half of 2025 and is expected to reach all eligible Square sellers in 2026, subject to applicable regulatory approvals.

With Bitcoin For Businesses, Block is turning Square into a crypto-native payment network that offers merchants more payment flexibility while embedding bitcoin into everyday financial activity. The launch is another step toward Block’s long-term vision of turning Cash App, Square, and its open-source tools into the default platform for both traditional and decentralized finance.

Block, which rebranded from Square in 2021, offers a host of other bitcoin-based tools, including Cash App’s bitcoin buy, sell, and transfer capabilities; Bitkey, a bitcoin wallet; Proto’s bitcoin mining products and services; and Spiral, which builds and supports open-source bitcoin projects that promote economic empowerment.

Block is also well known for its purchase of Afterpay in 2022. The company rebranded Afterpay to Cash App Afterpay earlier this year. Block anticipated the name change to fully integrate Afterpay into Cash App, helping Block to turn Cash App into a one-stop financial platform.

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Rewatch the Top Demos from FinovateSpring 2025

Rewatch the Top Demos from FinovateSpring 2025
By Julie Muhn (@julieschicktanz) Posted on
Categories: Bits of Stock, Finalytics.ai, FinovateSpring 2025, Herd Security, Illuma Labs, Marketing, Penny Finance, Solda.ai, Speaker series

Earlier this month, 42 companies took the stage at FinovateSpring in San Diego, showcasing their latest and greatest fintech solutions. Now, it’s your turn to experience the action. The demo videos from the event are live! So, whether you joined us in person or missed the event, you can now watch every presentation on demand, for free.

The best way to dive into the 42 videos, which total nearly five hours of content, is to watch the six Best of Show videos from the conference.

Bits of Stock

Finalytics

Herd Security

Illuma

Penny Finance

Solda.ai

Thanks to all of the demo companies for making this a fantastic event! You won’t want to miss our next event, FinovateFall, which is taking place September 8 through 10 in New York. The earlier you register, the more you save.

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Griffin Launches MCP Server for Agentic AI Banking

Griffin Launches MCP Server for Agentic AI Banking
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • Griffin has opened access to its MCP (Model Context Protocol) server, enabling developers to build AI-powered agentic applications that can simulate tasks like account opening, payments, and financial analysis.
  • The MCP server is currently available in a sandbox environment, allowing users to prototype autonomous finance workflows.
  • Griffin acknowledges that the launch is still in its early stages, but says that it shows what’s possible when it comes to agentic AI.

UK-based BaaS fintech Griffin announced today that it is opening up access to its MCP server. The new server, which is currently in beta, offers a new way for users to build agentic applications directly on the banking system.

Griffin customers can use the MCP server to have an agent open accounts, make payments, and analyze historic events. They can also use it to build prototypes of their fintech applications on top of the Griffin API. Griffin acknowledges that it’s still early days for development in the agentic applications space, but adds that its new MCP server shows what’s possible.

“There have been a few test cases floating around of people getting AI agents to engage in financial transactions, but these are generally limited to proofs-of-concept like getting an agent to buy a cup of coffee,” the company said.

While agent access is limited to the company’s sandbox environment, some of the potential future use cases will allow AI to serve as an end-to-end wealth manager, enabling AI to handle administrative tasks, and allowing customers to build their own personalized agent to handle their money in a tailored and relevant way.

Griffin’s MCP server launch will offer developers tools to simulate autonomous financial workflows and marks a step toward turning agentic finance from theory into action. While many AI tools for financial services are currently limited to narrow use cases like chatbots, Griffin is building infrastructure that could allow agents to directly open accounts, initiate payments, and manage money autonomously. If agentic applications mature, the MCP server could evolve firms’ AI use from chatbots to fully autonomous wealth managers.

Griffin was founded in 2017 and offers BaaS tools that include client onboarding, regulatory compliance safeguards, client money accounts, and payments. The company’s direct banking tools include operational accounts, credit, and lending. It also offers embedded bank accounts, client accounts, API-enabled payment options, and client onboarding tools.

Last year, after receiving a $24 million (£19 million) Series A extension round, Griffin revealed that the UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) granted it approval to launch as a fully operational bank.

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Acrisure to Acquire Heartland Payroll Solutions for $1.1 Billion 

Acrisure to Acquire Heartland Payroll Solutions for $1.1 Billion 
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Mergers & Acquisitions
  • Acrisure is acquiring Heartland Payroll from Global Payments for $1.1 billion, expanding its payroll and Human Capital Management (HCM) capabilities.
  • The deal positions Acrisure as a full-stack fintech platform that will bundle services like insurance, compliance, billing, and payroll to drive retention and deepen client relationships.
  • The deal is expected to close in the second half of this year.

Fintech firm Acrisure announced today that it has agreed to acquire Global Payments-owned Heartland Payroll Solutions for $1.1 billion.

The deal is expected to close in the second half of this year, at which point Heartland Payroll will be rebranded. Acrisure anticipates the purchase will significantly expand its current payroll and Human Capital Management (HCM) capabilities and help it become a top fintech solutions provider for millions of small and medium-sized businesses.

“This significant acquisition accelerates our successful transformation into a fully scaled and diversified fintech platform,” said Acrisure CoFounder, Chairman, and CEO Greg Williams. “We prioritize the needs of our clients and increasingly, that’s a tech-oriented solution that streamlines their back-office operations in important verticals like payroll, compliance and billing,” Williams added. “We’re incredibly excited about partnering with the Heartland Payroll team and look forward to growing this business together.”

Heartland Payroll was founded in 1997 and currently provides payroll solutions, HCM software, and other business services to more than 50,000 clients. Global Payments President Vince Lombardo will join Acrisure as part of the transaction, taking on a new role as the CEO of Heartland Payroll.

“Acrisure’s strategic acquisition of Heartland Payroll marks an exciting milestone for our team and will provide our business with sharper focus, accelerated growth, and greater investment,” said Lombardo. “I’m honored to join Acrisure and work alongside Greg and the incredible team he’s built as we continue to build the most comprehensive provider of financial service products for businesses around the world.”

Acrisure recently raised $2.1 billion in a funding round led by Bain Capital, boosting the company’s valuation to $32 billion. The company offers insurance, reinsurance, real estate services, cybersecurity defense tools, payroll, and other services to small and medium-sized businesses. 

Acrisure’s acquisition of Heartland Payroll is more than just a $1.1 billion transaction. It’s a clear signal that fintech consolidation is accelerating, especially in the SMB segment. By integrating payroll and HCM capabilities into its expanding suite of services, Acrisure is positioning itself as a one-stop fintech platform for SMBs. In today’s increasingly crowded market, offering bundled solutions across insurance, compliance, billing, and payroll gives Acrisure a compelling edge and incentivizes businesses to stay in its ecosystem.

For Global Payments, selling off Heartland Payroll suggests a strategic shift toward focusing on its core payments business. For Acrisure, it’s a leap forward in becoming a full-stack fintech provider. It is also a signal that payroll and HCM are no longer just HR functions, but new areas of competition for fintechs.

Photo by Designecologist

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Circle Officially Launches its IPO

Circle Officially Launches its IPO
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • Circle has officially launched its IPO, aiming to raise $624 million at a $6 billion valuation under the ticker CRCL on the NYSE.
  • The company may use the proceeds to expand globally, strengthen compliance, and develop new tokenized financial products as it competes with Tether and other stablecoin issuers.
  • The IPO announcement comes four years after Circle’s failed SPAC attempt in 2021.

Stablecoin issuer and infrastructure company Circle is bringing positive news to fintech this week. The Massachusetts-based company announced the launch of its IPO.

The announcement comes four years after initially trying to go public via a $9 billion special purpose acquisition company (SPAC) in 2021 with Concord Acquisition Corp. The agreement was terminated in 2022 due to regulatory hurdles and shifting market conditions. The direct IPO route that Circle ultimately settled on is a better way to provide more transparency and stability for investors.

Proceeds from Circle’s IPO could fuel its international expansion, strengthen compliance efforts, and support the development of new tokenized financial products. These investments will be essential as Circle competes with traditional payment networks, other stablecoin issuers such as Tether, and new stablecoins that come online.

Circle is looking to raise about $624 million at a valuation around $6 billion on the New York Stock Exchange and will be traded under the ticker CRCL. The shares are expected to be priced between $24 and $26 per share, which will value Circle at around $5.65 billion.

Circle was founded in 2013 and is best known for launching USDC, a fully reserved, dollar-backed stablecoin that has $62 billion in circulation and has facilitated more than $28 trillion in on-chain settlement volume since launching in 2018.

One crypto player that is potentially set to benefit from Circle’s success is crypto exchange and wallet Coinbase, which cofounded USDC and has a 50% revenue sharing agreement with Circle. Additionally, Coinbase takes home 100% of the interest earned by USDC products on its platform. Coinbase went public in 2021 via an $86 billion direct listing on the NASDAQ under the ticker COIN. In comparison, Circle’s $6 billion IPO is significantly smaller.

Circle’s IPO comes at a time when the US is providing clearer regulatory frameworks for stablecoins, and demand for tokenized assets is growing in the traditional finance space. The move also signals rising investor confidence in digital assets and showcases how the use of stablecoins is maturing.

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Worldpay Partners with BVNK to Enable Stablecoin Payouts

Worldpay Partners with BVNK to Enable Stablecoin Payouts
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, WorldPay
  • Worldpay is partnering with BVNK to enable stablecoin payouts for businesses across 180+ markets.
  • The integration simplifies stablecoin adoption for traditional companies by embedding BVNK’s wallet infrastructure into Worldpay’s existing payouts platform.
  • The move reflects broader momentum in stablecoin adoption, following similar initiatives from R3, Solana, Circle, Mastercard, and MoonPay, as demand for faster, borderless, and more efficient payment solutions increases.

Payments and banking services company Worldpay and multi-rail payments infrastructure platform BVNK are teaming up this week to help businesses across the globe use stablecoins for payouts.

Worldpay is leveraging BVNK’s embedded wallet infrastructure to allow its commercial clients across more than 180 markets to pay customers, contractors, creators, sellers, and other third parties using stablecoins in near-real-time.

By integrating with BVNK, Worldpay is making stablecoin payments accessible to organizations that lack expertise in decentralized finance. Under the new partnership, businesses will not need to hold or handle any digital assets themselves in order to pay with them.

Worldpay business clients can access the new stablecoin payout service through their existing integration with Worldpay’s payouts platform. The company plans to pilot stablecoins on the platform in the second half of this year.

With 135 fiat currencies currently available on its platform, Worldpay began offering stablecoin settlement in 2022, allowing merchants in a limited number of geographical regions to receive payments in USDC. In 2023, the company piloted a project with Visa to receive funds more quickly from the network. 

“We’re delighted to work with BVNK to bring this enterprise-grade stablecoin payout solution to market,” said Worldpay SVP, Head of Payouts John McNaught. “With a history of delivering innovative payout solutions, we are excited to meet the rising interest from clients seeking faster, more efficient global payment methods.”

The partnership, which BVNK calls “an important milestone,” will help BVNK bridge traditional and digital payment systems, ultimately creating a more accessible, efficient financial ecosystem.

The move reflects growing demand for faster, borderless payments, especially for global payout platforms paying gig workers, creators, or remote teams. Stablecoins offer the speed of crypto with the stability of fiat, reducing delays and costs in cross-border transactions.

As demand for stable DeFi increases, so have the solutions facilitating mainstream adoption. Recently, we’ve seen a partnership between R3 and Solana, Circle’s launch of the Circle Payments Network, and a collaboration between Mastercard and Moonpay, all of which exemplify the trend of traditional finance converging with blockchain-based solutions to make stablecoin payments more accessible, secure, and scalable for everyday business use.

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R3 and Solana Team Up, Merging TradFi and DeFi 

R3 and Solana Team Up, Merging TradFi and DeFi 
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, R3
  • R3 and Solana have partnered to bring regulated financial institutions and real-world assets (RWAs) onto Solana’s public blockchain, aiming to bridge TradFi and DeFi ecosystems.
  • The integration enables native interoperability between R3’s Corda platform, private networks, and Solana, supporting tokenized assets, stablecoin settlement, and compliance.
  • R3 announced that Solana Foundation President Lily Liu is joining its board.

Traditional finance (TradFi) and decentralized finance (DeFi) are slowly beginning to merge. Today’s partnership between distributed ledger technology company R3 and Web3 infrastructure player Solana is a step in this direction. The two have teamed up to bring financial institutions and their real-world assets onto Solana’s public blockchain.

R3 was founded in 2014 to offer real-world asset (RWA) tokenization and interoperability solutions. Today, R3 is helping digitize markets by bridging its on-chain RWA ecosystem with DeFi. Today, the company has over $10 billion in regulated assets on-chain across its platforms.

“After years of laying the groundwork, R3 is ready to bring our experience and our network of regulated financial institutions towards a new public future with one of the best and most trusted public ecosystems—Solana,” said R3 CEO David E. Rutter. “This is more than a milestone; it’s a strategic realignment for the entire industry. We know DeFi isn’t coming to TradFi, so it’s up to us to build the connective infrastructure that links these two ecosystems. This is about adapting to deliver real-world utility, institutional-grade readiness, and shaping the long-term future of regulated markets.”

As one of the most used public blockchains, Solana boasts low transaction fees, speed, scalability, and a global ecosystem. With favorable regulation and increased investor confidence, the companies have seen financial institutions become increasingly comfortable leveraging public networks.

Integrating with Solana’s blockchain will enable R3’s on-chain assets to meet the growing demand on public networks and unlock new settlement options like stablecoins. Unlike traditional approaches, R3’s tokenized RWAs can be confirmed directly on Solana Mainnet.

Additionally, Solana and R3 will enable native interoperability between its existing Corda platform, other private networks, and Solana. This will help bridge the gap between permissioned and public blockchain ecosystems, ultimately enabling regulated financial institutions to benefit from the openness and efficiency of Solana while maintaining compliance, security, and control of their assets.  

As part of today’s announcement, Solana Foundation President Lily Liu will join R3’s Board of Directors.

“This is a major step forward for the institutional adoption of public blockchain,” said Liu. “R3’s decision to bring its regulated financial network onto Solana is powerful validation that public blockchains have reached institutional readiness. With Solana’s unmatched performance, enterprise-grade permissioning, and growing roster of regulated assets, we’re not just witnessing convergence between TradFi and DeFi—we’re enabling it. This collaboration signifies that the future of capital markets will be built on public infrastructure. We’re thrilled that the Solana ecosystem is leading the way.”

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