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If you stepped away from your desk over the holidays, you are probably realizing that fintech didn’t slow down while you were gone. Even if your email inbox is finally back to zero at this point, we’re here to help you filter out the noise and catch up on the important fintech news you missed. Below, we’ve rounded up the most important fintech developments that broke during the holiday lull.
December 19
Mercury applies for OCC national bank charter to become the bank for builders.
Business banking fintech Mercury submitted an application to the OCC for a national bank charter and applied for federal deposit insurance with the FDIC. Receiving approval from these agencies would allow Mercury to operate as an FDIC-insured national bank. The move would grant Mercury independence from its partner banks, Choice Financial Group and Column N.A., giving the fintech full control of its customers.
European Central Bank (ECB) completes its technical and preparatory work on the digital euro.
ECB President Christine Lagarde said during a press conference that the bank has completed technical and preparatory work on the digital euro. In the statement, Lagarde mentioned that the digital euro is a priority for Europe’s financial future. The announcement proves that central bank digital currencies are still on the table for 2026, even as stablecoins and tokenized deposits take precedence in the headlines.
December 30
Retail investment platform PrimaryBid lays off about 40% of its workforce.
The UK-based company’s newest registry filings indicate that PrimaryBid’s average employee headcount fell to 91, which is down from 152 during the same period last year. PrimaryBid has a long-term agreement with the London Stock Exchange to allow everyday retail investors to transact at the same time and price as institutional investors.
December 22
Digital bank Erebor closed $350 million in funding at a $4.35 billion valuation.
Erebor is a new digital bank that was founded by Palmer Luckey, billionaire and founder of Oculus VR and Anduril Industries. The new digital bank seeks to bridge traditional finance with the digital asset economy and has already obtained FDIC approval and conditional approval from US banking regulators. The bank is expected to launch this year.
Fiserv and Mastercard partner to advance agentic commerce.
Fiserv announced it is deepening its partnership with Mastercard, leveraging Mastercard’s Agent Pay Acceptance Framework to offer interoperable agentic commerce and empower merchants to embrace AI-driven payments.
December 23
JPMorgan considers allowing crypto trading for institutional clients.
With Jamie Dimon’s negative comments about crypto far in the past, JPMorgan announced plans to allow institutional clients to trade crypto. The announcement comes weeks after the bank’s asset management arm launched its first tokenized money fund.
Photo by Ono Kosuki
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