European Union

The U.K. challenger bank would follow London fintech Wise in emphasizing New York over London in an effort to boost valuation and establish a foothold in the U.S. Plus, Lloyds is in talks to buy all-in-one card fintech Curve; and more news in the global payments and fintech roundup.

U.K. regulators said Monzo didn't properly vet new customers, while Vocalink was dinged for risk management lapses. Also, Paxos launched a dollar-backed coin in the European Union; and more news in the weekly global payments and fintech roundup.

The French institution is one of the first to take advantage of new regulations that are supportive of crypto. Payment experts say banks have work to do to beat existing stablecoins.

The European Union is proposing rules that would make it easier for banks to sell off mortgages and reduce the amount of capital they must hold against certain bundled loans.

Bunq Tuesday announced it applied for a broker-dealer license with FINRA and the SEC and had a 65% increase in year-over-year profits.

President Donald Trump rejected a European Union proposal to drop tariffs on all bilateral trade in industrial goods with the U.S.

The ECB president said demand for higher-skilled workers who can use AI would rise, while those less able to learn new skills could suffer.

The country's central bank cited geopolitical uncertainty and the increased reliance on digital payments as a reason to focus on offline payments as a backup. Also, a look at U.K. bank outages and other news in American Banker's global payments and fintech roundup.

The cryptocurrency exchange made the move to follow the Markets in Crypto-Assets Regulation, which tightens rules for digital assets in the European Union.

Banks must comply with a European Union law known as DORA by Friday. The law aims to improve cybersecurity and reduce tech failures in financial services.