Fintech · Industry brief

Ant International raised $1.2 billion in Series A funding to expand its cross-border payments and agentic-commerce products. Augustus closed $180 million in Series B funding at a $1 billion valuation to provide international banks and fintechs direct access to U.S. dollar accounts and payment rails. Lumin Digital secured over $115 million at a $1.6 billion valuation to expand AI, payments, lending and customer-management offerings for financial institutions. Additional notable funding rounds include BusinessNext's $40 million Series C from ServiceNow at a $700 million valuation for autonomous-banking products, Parafin's $300 million forward-flow agreement with an alternative asset manager for small-business lending, and Fina's $75 million Shariah-compliant credit facility for SME financing. [Source: thisweekinfi]

BPI issued statements opposing the updated Clarity Act stablecoin bill, citing persistent gaps on illicit finance and interest-like payments for holding stablecoins that could siphon bank deposits and threaten local lending. The OCC rejected Wise US Inc.'s national trust charter application over anti-money laundering concerns and insufficient familiarity with national banking laws, with the denial following a settlement-based enforcement action in July 2025. BPI filed comment letters on the OCC's proposed payment stablecoin requirements, expressing general support for the AML/CFT approach while recommending clarifications on consumer protection, fraud risks and liquidity safeguards. House Republicans urged the Federal Reserve to expedite bank merger approvals through measures like allowing more deal approvals without board votes and clearing long-pending applications. BPI endorsed the Main Street Capital Access Act, which would tailor capital and liquidity requirements to institution size and complexity while updating regulatory thresholds and improving the supervisory rating system. [Source: bpi]

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