CASP Licence in Bulgaria: FSC Authorisation under MiCA
How the FSC licenses crypto-asset service providers in Bulgaria under MiCA: €50,000–150,000 capital, fees from €5,112.92, the end of NRA registrations and the EU sanctions perimeter.
Stablecoins
Crypto Licences by Jurisdiction: A Map of Twelve Regimes
MiCA CASP, VARA, ADGM, DIFC, SFC VATP, MAS DTSP, US BitLicense, FCA 2027, FINMA, AIFC, Japan and Korea compared on capital, custody, retail and travel rule.
Wholesale DLT Settlement: Choosing the Settlement Asset
Fnality, Partior, deposit tokens and wholesale CBDCs compared on the one axis that matters: whose obligation the ledger entry is, and what that does to credit risk and supervision.
Card Scheme Rules: Chargebacks, Interchange and Merchant Monitoring
How the Visa and Mastercard rulebooks create obligations: dispute deadlines, 2026 VAMP, ECM and BRAM thresholds, interchange caps in the EU, US and UK, scheme fees and 3-D Secure liability shift.
Japan and Korea: payment and crypto licences
Licensing in Japan and South Korea: funds transfer tiers, prepaid issuers, JPYC and JPYSC stablecoins, crypto moving into FIEA, Korea's VAUPA and EFTA, real-name accounts and 2024–2026 enforcement.
Issuing ARTs and EMTs under MiCA: the Token Issuer Regime
Titles III and IV of MiCA from the issuer's side: the ART/EMT test, Article 21 authorisation vs the Article 48 EMI route, own funds and 30% deposit floor, redemption at par, significant-token caps.
India and Brazil: the RBI and BCB payment regimes
PA and PA-CB licensing in India, the four Brazilian payment institution types, UPI and Pix access, zero MDR economics, RBI data localisation and the new PSAV regime for virtual assets.
Hong Kong: the Stablecoins Ordinance — the HKMA Issuer Licence and the Limits of the Regime
Cap. 656 since 1 Aug 2025: HKD 25m capital, one-business-day redemption, 36 applications and two licences by 10 Apr 2026 — who must license and who may sell.
Travel Rule: Two Regimes, Divergent Thresholds and the Data That Travels With a Transfer
The Travel Rule for bank and crypto transfers: FATF R.16 and R.15, data fields, thresholds (zero in the EU, £800 in the UK, USD 3,000 in the US, AED 3,500 in Dubai), self-hosted wallets.
US Financial and Crypto Licenses: Three Axes of Choice
Three axes decide a US regime: federal or state, deposit status, and Fed settlement access. Charters, ILCs, SPDIs, MTLs and the GENIUS Act from 18 Jan 2027.
NYDFS: BitLicense and the New York Trust Charter — Two Regimes for US Crypto
26 BitLicenses and 13 trust charters as of August 2026, an eight-coin Greenlist, 226.5m in penalties and the OCC charter migration reshaping New York after the GENIUS Act.
Fintech: licences, banking infrastructure, payments and stablecoins
Fintech regulation and operating infrastructure: licence selection, banking and safeguarding, acquiring, sanctions controls, stablecoins, crypto custody and regional regulatory regimes.
The UK in 2026–2028: EMI Safeguarding, the FCA Crypto Regime and the Payments Reform
CASS 15 safeguarding for UK EMIs, the FCA crypto regime from 25 October 2027, and proposed reforms for payments and sterling stablecoins.
The OCC National Trust Charter: a Bank Without Deposits for Crypto and Fintech
Fiduciary powers, preemption of some 50 state MTLs and life without FDIC: how Ripple, Circle and Morgan Stanley take a national trust charter — and what it buys.
SG-FORGE: Société Générale's MiCA Stablecoins
Société Générale's subsidiary issuing MiCA stablecoins on public chains, the only G-SIB to do so: how EURCV and USDCV work and why Euroclear is testing them for settlement.
Swiss fintech and crypto licences: Fintech licence, DLT trading facility and crypto institutions
Swiss financial and crypto licensing under the Banking Act and DLT Act: Fintech licence, bank and securities-firm status, DLT trading facilities, crypto custody, stablecoins, capital and substance.
GENIUS Act: the US Federal Regime for Payment Stablecoins
Three PPSI issuer tracks, 1:1 reserves, the yield ban, the January 18, 2027 start date and the July 18, 2028 cutoff — how the US federal stablecoin regime works.
The Digital Dollar in Four Legal Forms: Deposit Tokens, Stablecoins, EMTs and Tokenised Funds
Deposit tokens, payment stablecoins, MiCA e-money tokens and tokenised money market funds: legal nature, holder protection and balance-sheet risks — in one table.
Stablecoins in Asia: Hong Kong, Singapore, Japan, Korea and the Yuan Question
Hong Kong issued 2 licences out of 36 bids, Japan launched JPYC, Singapore awaits its law, Korea is split, China bans: Asia's stablecoin regimes compared.
Fed Payment Accounts: the Skinny Master Account and the End of the Sponsor-Bank Monopoly
The Fed's 20 May 2026 NPRM: direct Fedwire and FedNow access for trusts and SPDIs — a $1bn cap, zero interest, no ACH. What it breaks in BaaS.
Agentic Payments: Protocols and Liability When an AI Agent Pays
AP2, ACP, x402, Visa TAP and Mastercard Agent Pay: how mandates and Know Your Agent work — and who is liable when an AI agent initiates a payment.
UAE financial and crypto licences: CBUAE, VARA, DFSA, FSRA and SCA
Compare UAE financial and crypto licensing under CBUAE, VARA, DFSA, FSRA and SCA: activities, capital, local substance, stablecoin rules, distribution limits and regulator selection.
BVNK: Stablecoin Payment Infrastructure for Businesses
BVNK provides infrastructure for cross-border payments through stablecoins and bank rails. Products, licences, onboarding, pricing model and the acquisition by Mastercard.
Zero Hash: embedded crypto, custody and settlement infrastructure
Zero Hash: embedded crypto trading, custody, stablecoin payments, settlement and tokenisation for brokers, banks and fintechs. Licences, end-client agreements, pricing and OCC application status.
SoFi Bank and SoFiUSD: Banking, Crypto Trading and Stablecoin
SoFi Bank and SoFiUSD: national bank charter, banking and investment products, crypto trading, stablecoin reserves, FDIC, pricing and product limitations.
Conduit: B2B Payments Through Stablecoins
Conduit provides B2B cross-border payments through bank rails, virtual accounts and stablecoins. Routes in Latin America and Africa, pricing, timing, KYB, infrastructure and liquidity limits.
Avit: Tokenised Bank Deposit from Custodia and Vantage
Avit is a tokenised bank-deposit structure from Custodia Bank and Vantage Bank Texas. SPDI and FDIC roles, issuance and redemption, US–Mexico settlement, Hazel Network and master-account litigation.
Anchorpoint Financial: HKMA-Licensed Stablecoin Issuer
Anchorpoint Financial is an HKMA-licensed stablecoin issuer backed by Standard Chartered Hong Kong, Animoca Brands and HKT. Reserves, redemption, distribution via OSL and HashKey, HKDAP status.
Bridge (Stripe): Stablecoin Infrastructure and Preliminary OCC Approval
Bridge is Stripe's infrastructure for stablecoin payments, issuance, wallets and cards. Stripe acquisition, preliminary conditional OCC approval, products, onboarding and current limitations.
Flex (flex.one): Business Accounts, Cards and Payments Through Partner Banks
Flex is a fintech platform for US businesses, not a bank. Business accounts, cards, international payments, partner banks, FDIC sweep coverage, pricing, stablecoin features and onboarding limits.
Augustus: Clearing Infrastructure, APIs and Banking-Licence Status
Augustus (ex-Ivy): OCC conditional approval for a US clearing bank built around stablecoins. B2B-only, API-first, EUR clearing live, USD pending licence.
Zand Bank: The UAE's First Fully Licensed Digital Bank for Corporate and Digital Assets
Zand Bank — the UAE's first fully licensed digital bank: corporate and VASP accounts, VARA-licensed custody, the Zand AED stablecoin and a BBB+ Fitch rating.
Erebor Bank: Peter Thiel and Palmer Luckey's bank under the mountain
Erebor is the new U.S. national bank from Peter Thiel and Palmer Luckey: stablecoins on the balance sheet, ~$4B in deposits, $8B valuation talks, an OCC charter in 2026 and how to get exposure.
Puerto Rico Banks: How the IFE Jurisdiction Works
Puerto Rico as a banking jurisdiction: IFE licenses under Act 273, 4% tax, Fedwire without FDIC, Act 44-2024 reform and sector cleanup. Profiles of Zenus, FV Bank, Arival.
Lead Bank: The Kansas City Sponsor Bank for Fintech Programs
Lead Bank — the Kansas City sponsor bank behind Affirm, Ramp and Bridge/Visa stablecoin cards: ex-Square CEO, Missouri charter and program criteria.
Clear Junction: Banking Infrastructure for Payment Companies
Clear Junction: FCA-authorised EMI; crypto registration held by its sister company. Correspondent accounts, vIBANs, SEPA, Faster Payments and CHAPS rails for PSPs, EMIs and crypto firms.
BCB Group: Payment Infrastructure for the Crypto Industry
BCB Group: FCA authorised payment institution, French EMI, BLINC 24/7 settlement network, fiat on/off-ramp, FX and custody for exchanges and funds.
Payment and Banking Licences by Jurisdiction: A Map of Regimes
Sixteen payment regimes and twelve banking licences: EMI and PI in the EU and UK, MSB and PSP in Canada, PSA in Singapore, MSO and SVF in Hong Kong, US MTLs, the UAE, the AIFC, Switzerland and Dominica — capital, timelines, safeguarding and passport.
Luxembourg: EMI and payment licence (CSSF)
EMI and payment licence in Luxembourg: CSSF, capital, EEA passporting, MiCA/CASP and stablecoins. Why Ripple, Coinbase and Amazon chose Luxembourg.
Stablecoins: Types and Regulation
Stablecoin regimes in 2026: MiCA in the EU, the GENIUS Act in the US, HKMA licences in Hong Kong, final FCA rules, plus risks and tax for private holders.
MiCA: EU Single Regime for Crypto-Assets
How MiCA works: ART and EMT token categories, CASP license and passporting, rollout stages and the transitional period that closed by 1 July 2026.
Real-World Asset Tokenization (RWA): Structure and Regulation
What legal right an RWA token contains: five models from direct statutory rights (TVTG, Swiss DLT Act) to SPV shares (BUIDL), issuer claims (xStocks), beneficial interests (PAXG) and synthetic exposure — with a rights matrix and failure scenarios.
British Atlantic Bank (NodaBank): Accounts, Deposits and Lending
Nodabank Corporation trading as British Atlantic Bank: accounts and custody, term deposit and Capital Note, cash-backed lending, trade finance and partner programmes.
FOMO Pay: Singapore MAS MPI with DPT License for Merchant and Crypto Flows
FOMO Pay is a Singapore MAS MPI and DPT provider for merchant and crypto flows, useful for international structures and banking perimeter checks.
Correspondent Banking and the Payment Chain: Currency Access, Respondent Due Diligence and Payment Data
How a bank or fintech reaches currencies through a correspondent, what R.13 due diligence covers, and how nested relationships, de-risking and R.16 and ISO 20022 payment data work.
OTC settlement: token, fiat and the banking boundary
Over-the-counter settlement is a transaction method outside a public order book — not a licence. Where the token-to-fiat banking boundary sits for UHNW flows.
Pave Bank: programmable bank of Georgia for digital assets and stablecoin treasury
Pave Bank is a digital bank licensed by the National Bank of Georgia for programmable banking, digital assets, stablecoin treasury, and corporate onboarding.
FV Bank: Puerto Rico Bank with IFE License and Digital Asset Custody
FV Bank Puerto Rico under US IFE license: deposits and digital-asset custody in one regulated institution. Ideal for crypto-oriented businesses.