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MoneyGram and Kraken connect crypto and cash globally

Kraken has entered a strategic partnership with MoneyGram to enable crypto-to-cash withdrawals in more than 100 countries. The integration links digital asset infrastructure with MoneyGram’s global network, allowing users to convert crypto into hundreds of fiat currencies through physical and digital payout channels.

The service is intended to address one of the main barriers to crypto adoption by improving access to reliable off-ramps. Users will be able to transfer funds to their accounts and receive near-instant cash payouts through MoneyGram’s retail network and regulated payment infrastructure.

Both companies highlighted the importance of interoperability between traditional finance and digital assets in driving practical adoption.

Kraken stressed the value of connecting liquidity and compliance systems with established payment rails, while MoneyGram presented its global distribution network as a bridge between digital value and everyday financial use.

The rollout will begin across the United States, Europe, Latin America, Africa, and parts of Asia-Pacific, with plans to expand further into local bank deposits and additional payment services as the partnership develops.

Why does it matter?

The partnership addresses one of the main friction points in crypto adoption: converting digital assets into usable cash at scale. By linking crypto infrastructure with a global payout network, it strengthens the practical use of digital assets beyond trading and speculation.

More broadly, it reflects a gradual convergence between traditional financial rails and crypto-native systems, with interoperability becoming increasingly important to how value moves across borders.

It may also support financial inclusion by expanding access to cash-out services in regions where banking infrastructure remains limited or uneven.

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Western Union launches USD-backed stablecoin for cross-border payments

Western Union has announced the launch of USDPT, a US dollar-denominated stablecoin intended to support its global payments infrastructure. The company said the token is fully backed by US dollars and issued by Anchorage Digital Bank, running on Solana to enable faster and more efficient settlement.

The stablecoin is intended to function as an always-on settlement asset within Western Union’s global network. By using Solana’s high-performance infrastructure, Western Union said USDPT is intended to reduce delays and inefficiencies in traditional correspondent banking while maintaining regulatory compliance and oversight.

Integration plans include exchange availability, liquidity connections with licensed custodians, and internal settlement for agents and treasury operations, the company said. Western Union also plans a consumer service and broader digital asset access, positioning USDPT as a bridge between blockchain systems and everyday financial use.

Why does it matter?

The initiative reflects a wider shift among established financial institutions towards regulated digital assets as core payment infrastructure. By combining blockchain settlement with a global payments network, Western Union is positioning itself for real-time, digital-first international money movement.

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Meta taps blockchain networks for faster creator payments

Meta has introduced USDC payouts for selected Facebook creators in Colombia and the Philippines, marking another step towards using blockchain-based payment rails for creator earnings. The programme allows eligible users to receive funds directly into crypto wallets using Polygon or Solana as settlement networks.

Creators receiving USDC on Polygon can move funds through supported wallets or exchanges and convert them into local currency where off-ramp services are available. The model reduces reliance on traditional cross-border payment channels and is intended to give creators faster and more flexible access to dollar-denominated earnings.

Polygon has been included alongside Solana as part of the payout infrastructure, with Polygon arguing that its network already handles a large share of global USDC transfer activity. Low transaction costs and broad wallet and exchange support are presented as key reasons stablecoin rails are becoming more attractive for recurring digital payouts.

Why does it matter?

The significance of the move lies less in crypto branding than in payment infrastructure. Meta is testing whether stablecoin rails can make creator payouts faster, more flexible, and less dependent on the frictions of traditional cross-border transfers. If this model scales, it would suggest that blockchain networks are becoming useful not only for trading or speculation, but for mainstream platform payments where speed, settlement, and access to dollar-denominated value matter.

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Brazil restricts use of cryptoassets for cross-border payment settlement

Brazil’s central bank has introduced new restrictions preventing regulated cross-border payment providers from using cryptoassets to settle international transactions. The measure forms part of updated rules for electronic foreign exchange services, known as eFX.

Under Resolution BCB No. 561, settlement between eFX providers and foreign counterparties must take place through authorised foreign exchange transactions or non-resident Brazilian real accounts. Use of virtual assets such as stablecoins or cryptocurrencies for settlement is explicitly prohibited.

The rule does not ban crypto trading or peer-to-peer transfers, but focuses on the infrastructure used by regulated payment firms. Stablecoin-based settlement models are expected to be most affected, as they have been widely used to facilitate faster and lower-cost cross-border payments.

The decision aligns with Brazil’s broader regulatory strategy to tighten oversight of digital assets, including AML compliance, taxation frameworks, and classification of certain crypto flows as foreign exchange operations.

Regulators aim to maintain control over cross-border capital movement while allowing crypto activity to continue outside regulated payment rails.

Why does it matter?

Brazil’s decision reflects a broader global effort to reassert control over cross-border financial infrastructure as crypto-based settlement systems grow in scale and speed.

By keeping regulated payment flows within traditional foreign exchange channels, authorities aim to preserve monetary oversight, tax visibility, and compliance enforcement in a system where stablecoins are increasingly bypassing conventional banking rails.

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UK AI sector survey to map growth trends and policy direction

The UK government is stepping up efforts to better understand the structure and growth of its AI sector through an updated national survey led by the Department for Science, Innovation and Technology.

The research, conducted by Ipsos and supported by Perspective Economics, aims to gather direct insights from businesses operating in the UK AI ecosystem. The findings are expected to inform future government policy on AI and sector development.

Participation is voluntary and confidential. Respondents are drawn from senior leadership roles, including chief executives, chief technology officers, company directors, and senior members of AI or data science teams. The survey focuses on business activity, products and services, and longer-term growth plans across the sector.

Fieldwork is taking place between late April and the end of May 2026 using online questionnaires and telephone interviews. Each session is expected to last around 15 to 20 minutes, allowing businesses to contribute structured input without significant disruption to normal operations.

The initiative reflects a wider UK policy priority: ensuring that government strategy keeps pace with developments in AI innovation and commercial growth. By drawing on direct industry evidence rather than relying only on secondary analysis, policymakers are trying to build a more accurate picture of the country’s evolving AI landscape. This last sentence is an inference based on the survey’s stated purpose of informing government AI policy.

Why does it matter?

AI policy is much easier to design in theory than in a market that is changing quickly and unevenly. If the government lacks current information on how AI firms are growing, what products they are developing, and where the main constraints lie, it risks shaping policy based on outdated assumptions. Direct input from businesses gives policymakers a stronger basis for decisions on support, regulation, skills, and investment, especially at a time when the UK is trying to turn AI ambition into measurable economic capacity.

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Cross-border crypto transfers in South Korea face stricter compliance requirements

South Korea has advanced a major regulatory shift by passing a bill that extends the Foreign Exchange Transactions Act to cover virtual asset service providers. The decision introduces mandatory registration for firms facilitating cross-border crypto transactions, including exchanges and wallet operators.

The new framework establishes formal oversight of virtual asset transfers between South Korea and other jurisdictions. Authorities will gain enhanced monitoring powers over transaction flows, with a focus on improving transparency and reducing risks linked to illicit financial activity and capital movement.

Major exchanges and service providers are expected to face increased compliance requirements, including detailed reporting obligations and system upgrades. Failure to comply could result in penalties or revocation of registration, signalling a stronger enforcement environment.

The measure aligns South Korea with global regulatory developments such as the EU’s MiCA framework and FATF recommendations. By integrating crypto oversight into existing forex law, regulators aim to accelerate implementation while reinforcing market trust and institutional oversight.

Why does it matter?

South Korea’s move reflects a broader global shift toward integrating crypto into traditional financial regulatory systems, reducing the space for unmonitored cross-border capital flows.

By embedding virtual assets within existing forex law, the country strengthens financial oversight while signalling how digital assets are increasingly being treated as part of mainstream monetary infrastructure rather than a parallel system.

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Study examines trust and fraud prevention in AI-enabled banking in Bangladesh

A new non-peer-reviewed preprint examines how AI is shaping e-banking in Bangladesh, focusing on consumer decision-making, ethical trust, and fraud prevention.

The paper links AI adoption in digital banking to customer experience, risk management, process automation, financial inclusion and regulatory compliance, arguing that these factors are increasingly important as Bangladesh’s financial sector becomes more digital.

A study that uses a narrative literature review of recent research from 2024 and 2025 and builds its conceptual model on the UTAUT2 framework, which is commonly used to explain technology adoption.

The authors extend the model by adding ethical trust and fraud prevention as mediating mechanisms, arguing that consumers are more likely to use AI-enabled banking services when they see them as useful, secure, transparent and fair.

Ethical trust is treated as a central part of adoption. The paper identifies transparency, algorithmic fairness, data privacy, reliability, accountability and digital inclusion as key factors shaping how users respond to AI in banking.

It also notes that explainable AI tools and localised interfaces, including Bengali-language systems, could help reduce uncertainty for users with lower digital literacy.

Fraud prevention is presented as a critical enabler of consumer confidence. The authors point to real-time monitoring, anomaly detection, secure authentication, biometric e-KYC and explainable fraud alerts as tools that can reduce perceived risk.

Additionally, they argue that AI systems should not only detect fraud effectively, but also explain decisions clearly enough for users to trust them.

The paper also highlights Bangladesh-specific issues, including Islamic banking, Shariah-compliant AI models, rural and urban digital access gaps, and the need for inclusive design. However, the study remains conceptual and has not yet been peer reviewed.

The authors recommend future empirical research with Bangladeshi banking users to test the model across income levels, regions, generations and gender groups.

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China pushes AI self-reliance while expanding global cooperation

Chinese Vice Premier Ding Xuexiang has reiterated China’s emphasis on AI self-reliance while also calling for deeper international cooperation, underscoring a dual approach to technology policy amid rising global competition. Speaking at the opening of the 9th Digital China Summit, he presented AI as an important part of China’s wider modernisation agenda.

Ding said China should strengthen self-reliance and independent innovation in AI, arguing that the sector must be able to withstand external pressure and attempts at suppression. He also emphasised application-driven development, calling for faster integration of AI into the real economy to support productivity and industrial transformation.

Alongside those domestic priorities, he called for a more collaborative innovation ecosystem, including closer coordination across the AI industry chain. Internationally, he advocated open and mutually beneficial cooperation, with particular emphasis on computing power, data, and talent.

Regulation also featured prominently in the speech. Ding said AI development must remain safe and controllable, with stronger oversight to ensure the technology serves human interests and remains under human control. Taken together, the message reflects China’s broader effort to balance technological sovereignty with continued international engagement.

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Crypto crackdown intensifies in Kazakhstan over illegal exchanges

Kazakhstan’s financial regulator has warned that several major cryptocurrency exchanges are operating without the licences required under the country’s current digital asset framework, reinforcing its strict authorisation regime.

The Astana Financial Services Authority identified prominent platforms, including HTX, Bitget, OKX, and MEXC, as operating without the necessary permits. Under existing rules, only entities licensed within the Astana International Financial Centre are allowed to provide regulated digital asset services.

Authorities stressed that international popularity does not exempt platforms from complying with local law. They also warned that unauthorised exchanges can expose users to financial losses, data breaches, and fraudulent schemes, and urged the public to verify platforms through the official register of licensed firms. AFSA’s website currently shows a regulated ecosystem with dozens of authorised entities across the AIFC framework.

The warning comes amid broader enforcement efforts as Kazakhstan tries to formalise its crypto sector while positioning itself as a regulated regional hub for digital assets. In parallel, law enforcement agencies have reported wider crackdowns on illegal crypto activity, including shadow exchanges and money-laundering networks.

Why does it matter?

Kazakhstan’s tightening enforcement shows a broader push to bring crypto activity into a more formal and supervised market structure. By restricting unlicensed platforms and steering users towards authorised entities, the authorities are trying to reduce exposure to financial crime, improve market transparency, and build credibility for Kazakhstan’s ambition to become a regulated regional digital asset hub.

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Tax season phishing scams surge with fake government sites

Cybercriminal activity tends to intensify during tax-return season, as taxpayers face tighter deadlines and share sensitive financial information. A recent Kaspersky analysis highlights the growing use of fake tax authority websites, phishing emails, and malicious downloads designed to steal personal and banking data.

Attackers are impersonating official revenue services across multiple countries, creating convincing portals that mimic government branding and online tax services. Victims are often prompted to enter login credentials, payment details, or download files containing malware aimed at compromising devices or extracting sensitive information.

Crypto holders are also being targeted through fake compliance portals and fraudulent regulatory notices. These schemes try to trick users into revealing wallet recovery phrases or linking digital wallets, which can lead to full asset theft once access is granted.

AI adds another layer of risk. Kaspersky warns that users who upload tax documents or personal financial data to unverified AI platforms may expose confidential information to leakage, misuse, or further fraud. More broadly, AI is also making phishing and impersonation campaigns easier to scale and harder to detect.

Security experts recommend relying only on official tax channels, checking websites and email sources carefully, avoiding unsolicited downloads, and using secure storage and trusted protection tools when handling tax documents.

Why does it matter?

Tax-season phishing campaigns show how financial data is increasingly being treated as a high-value target for cybercrime. As tax systems, digital finance, crypto assets, and AI tools overlap more closely, a single successful scam can lead not only to immediate financial loss but also to identity theft, device compromise, and broader damage to trust in digital services.

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