The Green Sheet Online Edition
August 10, 2026 • 26:08:01
News Briefs
Visa introduces Visa Stablecoin Platform <- click to read full story
Visa introduced the Visa Stablecoin Platform (VSP), a new platform designed to help financial institutions, fintechs and payment service providers manage stablecoin operations. Initially available in beta with select clients, VSP enables users to access, store, mint, redeem and transfer stablecoins, beginning with Open USD, the stablecoin introduced recently by Open Standard.
The platform includes on-chain wallet infrastructure, wallet-as-a-service capabilities and tools for integrating stablecoins into treasury, settlement and payment workflows. Visa said VSP also incorporates security features such as dual-control approvals, audit logging and transfer controls. The company plans to expand the platform based on feedback from early adopters and use cases.
Payment processing broker gets prison in fraud case <- click to read full story
An Oregon payment processing broker was sentenced to three years in prison for helping two sham companies process more than $14 million in unauthorized and attempted unauthorized bank account debits over a six-year period. According to the U.S. Department of Justice, Jeremy Todd Briley knowingly obtained and maintained payment processing relationships for the companies despite repeated evidence that the transactions were fraudulent.
Prosecutors said he also helped conceal the scheme by manipulating return rates to deceive banks. Briley pleaded guilty to one count of wire fraud in April. He was also ordered to forfeit $460,000 and will serve three years of supervised release following his prison term.
Change is coming to digital wallet space <- click to read full story
Mastercard introduced Mastercard Wallet Services, a suite of software tools and services designed to help banks, fintechs and other providers build contactless digital wallet capabilities for both iOS and Android devices. The offering includes software development kits and secure payment technology designed to enable a single integration across both mobile platforms.
Mastercard said the launch follows Apple's decision to open near field communication access to third-party developers in certain markets, creating new opportunities for digital wallet innovation.
The company is working with several banks to develop new wallet features, with initial deployments expected later this year.
Financial fraud victimizes hundreds of millions of Americans <- click to read full story
A House Financial Services Committee report warned that financial fraud is accelerating and calls for a coordinated response by government agencies, financial institutions and the private sector. The report found that 75 percent of Americans have experienced an online scam or attack and estimated total fraud losses reached $196 billion in 2025. It also cited fraudsters' growing use of AI, faster payment systems and digital assets.
Among its recommendations are creation of a federal interagency task force, stronger collaboration across industries, improved fraud reporting, tougher enforcement against scammers, and enhanced efforts by technology platforms to identify and remove fraudulent content.
X on the Money <- click to read full story
X began rolling out X Money to select U.S. Premium and Premium+ subscribers, bringing embedded banking and peer-to-peer payments to the social media platform. Powered by Cross River Bank, the service offers FDIC-insured, interest-bearing accounts, a Visa debit card, direct deposit, bill payment, wire transfers and peer-to-peer payments all within the X app.
Users also receive a customizable metal debit card, up to 6 percent annual percentage yield on deposits, and as much as $10 million in FDIC insurance through a cash sweep program, the company stated. X Money represents another step toward Elon Musk's goal of transforming X into an "everything app."
Traditional financial institutions regain ground from fintechs <- click to read full story
Traditional financial institutions regained the lead in attracting new customers during the second quarter of 2026 after two quarters of gains by fintech challengers, according to JD Power's latest Signals Intelligence for Financial Services report. Based on more than 200,000 consumer responses, the research found major banks led new account openings in checking, savings, investments, retirement accounts, credit cards and personal loans.
Reputation, promotional offers and recommendations from friends and family were key factors influencing consumers' choices. While banks strengthened their position, fintechs continued posting strong conversion rates for checking and savings accounts and remained popular with do-it-yourself investors, highlighting continued competition in financial services. 
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