Brighty co-founder Nikolay Denisenko, a former lead backend engineer at Revolut, says his startup has brokered over 100 deals for HNWIs to buy apartments in Europe.
Trump Says He Won’t Pardon Sam Bankman-Fried
President Donald Trump said this week that he has no intention of pardoning Sam Bankman-Fried, the former FTX chief executive who is serving a lengthy federal prison sentence for one of the largest financial frauds in U.S. history.
In an interview with The New York Times, Trump was asked whether he would consider granting clemency to several high-profile inmates. Among the names raised was Bankman-Fried, the onetime cryptocurrency billionaire convicted in 2023 of stealing billions of dollars from FTX customers.
Trump’s response was that he is not considering it, according to The New York Times.
The remark puts somewhat of a stop to months of speculation inside crypto and political circles about whether Bankman-Fried might angle for relief from a president who has frequently criticized federal prosecutors and used his pardon power aggressively.
Bankman-Fried was sentenced in November 2024 to 25 years in prison after a New York jury found him guilty on seven counts, including wire fraud and conspiracy. Prosecutors said he orchestrated a scheme that diverted customer funds to prop up his hedge fund, Alameda Research, while presenting FTX as a safe and compliant exchange.
The collapse wiped out billions in customer assets and triggered a global crackdown on crypto firms.
Sam Bankman-Fried’s push for a pardon
Since his conviction, Bankman-Fried and those close to him have pursued multiple avenues that appeared designed to soften his public image and create openings for clemency.
In early 2024, Bankman-Fried gave a rare jailhouse interview to Tucker Carlson, portraying himself as misunderstood and claiming FTX customers would have been “made whole” absent government intervention.
The interview circulated widely among conservative audiences and was seen by many as a calculated appeal to Trump-aligned media figures.
Around the same time, Bankman-Fried’s parents, both Stanford law professors, sent letters to the court seeking leniency at sentencing, emphasizing his charitable intentions and arguing that a decades-long prison term would be excessive.
While not directed at Trump, the effort reinforced a broader strategy of reframing Bankman-Fried as a flawed but non-malicious actor rather than a criminal mastermind.
Bankman-Fried has also highlighted his past political realignment. Though he was one of the largest donors to Democrats in the 2022 cycle, he later claimed in interviews that he had secretly given comparable amounts to Republicans and had grown disillusioned with the Biden administration.
Those comments were widely interpreted as an attempt to distance himself from Democratic power centers and signal openness to a future Republican-led clemency process.
Trump, however, has not shown any public sympathy. While he has argued that allies prosecuted under the Biden administration were victims of a “weaponized” Justice Department, Bankman-Fried’s case does not fit that narrative. The fraud investigation began before Biden took office and was driven by customer losses and internal FTX records.
President Trump did pardon Binance founder Changpeng Zhao (CZ) in October 2025 for his 2023 guilty plea to money laundering violations, a move framed by the White House as ending the Biden administration’s “war on cryptocurrency” and a potential pathway for Binance to re-enter the U.S. market.
Bitcoin Steadies as ETF Flows Reverse and Altcoins Reprice
Cryptocurrency markets experienced a limited recovery this week as investor liquidity gradually returned after the holidays.
Bitcoin (BTC) topped a weekly high of $94,458 on Monday, before declining to about $90,937 at the time of writing on Friday.
US spot Bitcoin exchange-traded fund (ETF) demand saw a sharp reversal after $1.1 billion in inflows on the first two trading days of the new year. The ETFs have since logged three consecutive days of outflows, with a cumulative $398 million sold on Thursday, according to Farside Investors data.
In the broader cryptocurrency space, concerns arose over the future of privacy-preserving token Zcash (ZEC) after the main company behind the protocol, the Electric Coin Company, decided to separate from Bootstrap, the nonprofit that supports its development.
2025 crypto bear market “repricing” year for institutional capital
The steep decline in altcoins over the past year may reflect a broader reassessment of which blockchain networks are likely to attract long-term capital, as institutional investors begin a gradual, multiyear entry into the market, analysts said.
Excluding Bitcoin, 2025 turned out to be a bear market for the wider cryptocurrency market. Decentralized finance (DeFi) tokens fell 67%, while cryptocurrencies associated with smart contract blockchains delivered a negative average return of 66%, according to blockchain data shared by Jamie Coutts, chief crypto analyst at Real Vision.
The past year’s poor performance was a “repricing” of the leading crypto projects as institutional capital was seeking to gain more exposure, Coutts wrote in a Wednesday X post.
“Repricing the highest quality (network adoption, fundamentally sound) protocols/L1s, just as the multi-year onboarding of institutional capital commences,” he said.
Coutts is the latest analyst to highlight an ongoing repricing in how cryptocurrencies are valued as maturing digital asset investors seek exposure to tokens powering protocols with organic usage and revenue, not just general altcoins.
Looking at the past year, Solana was the leading blockchain by fees, with $585 million generated, while second was Tron with $576 million in revenue, according to crypto intelligence platform Nansen.
Institutional and large investors tend to gravitate to the five leading cryptocurrencies, according to Nicolai Sondergaard, research analyst at Nansen.
“Solana ETFs are still seeing inflows, but the same can’t fully be said onchain. ETH, on the other hand, has seen some players rotate from BTC,” the analyst told Cointelegraph, adding:
“Many expect that with liquidity coming back, big players prepare by accumulating, and this seems to be accurate based on onchain and offchain data.”
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Zcash backer Bootstrap says split due to clash over nonprofit, Zashi
Bootstrap, the nonprofit that supports the privacy-focused cryptocurrency Zcash, said a recent governance dispute that led to the departure of key board members stemmed from the legal limits nonprofits face when seeking outside investment.
The comments follow the decision by the Electric Coin Company, the main development team behind Zcash, to separate from Bootstrap and form a new company. ECC cited concerns over what it described as “malicious governance actions,” Cointelegraph reported Thursday.
In its official response, Bootstrap said the board members engaged in discussions regarding “external investment and alternative structures to privatize” Zashi, the self-custodial crypto wallet built for private Zcash transactions.
The board discussed “external investment and alternative structures to privatize Zashi, while working with legal counsel to ensure any path forward would comply with U.S. nonprofit law, remain consistent with the long-term mission of Zcash, and not jeopardize the broader Zcash community,” according to an announcement shared by board member Zaki Manian on Thursday.
Zashi was developed by ECC and launched on mobile platforms in early 2024. Its source code is publicly available, reflecting Zcash’s open-source model, under which no single entity owns or controls the protocol.
Bootstrap said the core disagreement stems from its fiduciary and legal obligations as a nonprofit organization registered under section 501(c)(3) of the US tax code.
The proposed deal could bring “new vulnerabilities for politically-motivated attacks on Zcash,” including a potential lawsuit from donors leading to unwinding the transactions, meaning that Zashi would be “transferred back to ECC,” the statement says.
Bootstrap added that these factors “jeopardize the entire Zcash ecosystem” and such transactions must be done “carefully” to ensure these assets will “serve the public good,” and not be “captured for private benefit.”
Zcash’s code is also public and open-source, and no single company or entity owns the protocol.
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Fake MetaMask 2FA security checks lure users into sharing recovery phrases
Crypto investors are being targeted by a new phishing campaign that impersonates MetaMask and tricks users into handing over their wallet recovery phrases, according to the blockchain security firm SlowMist.
The attackers are impersonating a two-factor authentication (2FA) security verification flow, which redirects users to fraudulent domains through fake security warnings that request users’ seed phrases.
When a user shares a wallet recovery phrase, the funds from the wallet are stolen, warned SlowMist’s chief security officer, 23pds, in a Monday X post.
This new wave of scams serves as a reminder that decentralized wallet protocols would never ask users for their secret recovery phrase, which enables anyone to take control of the wallet.
The phishing email redirects users to fake domains impersonating MetaMask, urging them to enable 2FA within a short period, claiming they may lose access to key wallet features.
The final step of the fraudulent process asks users for their 12-word seed phrase to complete the “security setup.”
Crypto phishing scams involve hackers sharing fraudulent links with victims to steal sensitive information, such as crypto wallet private keys.
Phishing scams have been a long-standing issue in the cryptocurrency space, but a decreasing number of incidents signals that investors are becoming wiser to this threat.
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Aave founder pitches bigger future for DeFi lending giant
Aave founder and CEO Stani Kulechov outlined a broader strategic vision for the protocol following a contentious governance vote that rejected a proposal to transfer control of Aave’s brand assets and intellectual property to its decentralized autonomous organization (DAO).
The failed vote prompted renewed debate within the Aave community over the protocol’s long-term direction and governance structure, an issue Kulechov addressed.
In a post published Friday on the Aave governance forum, Kulechov argued that the protocol must evolve beyond its core decentralized finance (DeFi) lending business to pursue opportunities in real-world assets (RWAs), institutional lending and consumer-facing financial products.
He described the community as being “at a crossroads,” noting that DeFi’s future growth trajectory remains uncertain without broader market expansion.
Significantly, Kulechov said Aave Labs plans to distribute non-protocol revenue to Aave (AAVE) tokenholders, a move that could expand how the token captures value beyond governance participation. He added that Aave Labs plans to introduce a new governance proposal to address intellectual property ownership and brand-related rights, following community pushback against the earlier initiative.
Kulechov’s post appears aimed at refocusing the community away from short-term governance disputes and toward a more cohesive long-term strategy. He highlighted RWAs in particular, describing the sector as a potential $500 trillion opportunity based on the estimated value of global financial assets.
Aave is one of the largest DeFi protocols, with its total value locked exceeding $45 billion in October, according to industry data.
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Perp DEXs almost triple volume in 2025 as onchain derivatives mature
Perpetuals decentralized exchanges are closing 2025 with cumulative trading volume reaching $12.09 trillion, up from $4.1 trillion at the start of the year.
DefiLlama data shows that about $7.9 trillion of this lifetime total volume was generated in 2025. This means that 65% of all perp DEX trading volume occurred in a single calendar year. This concentration highlights how rapidly onchain derivatives scaled in 2025.
In December alone, perpetuals trading volume reached $1 trillion, carrying momentum that started in October, when monthly volumes first reached $1 trillion.
The increase reflects a sharp acceleration in onchain derivatives usage in the last 12 months, as perpetuals DEXs absorbed a growing share of leveraged crypto trading activity.
Perpetuals DEXs began to emerge around 2021, with dYdX and Perpetual Protocol widely credited as among the earliest platforms to offer decentralized perpetual futures onchain.
The sector’s growth accelerated sharply in 2023, when the emergence of Hyperliquid marked a turning point.
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DeFi market overview
According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.
The Render (RENDER) token rose 56% as the biggest gainer of the past week, followed by the Internet of Things (IoT) provider Jasmy Corporation’s JasmyCoin (JASMY), up over 52% during the past week.
Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.
Google Updates Gmail With Suite of AI Tools
As AI continues to shape modes of work, Google on Thursday released new AI features in Gmail, the most popular global email service.
The new AI features reflect the growth and maturity of AI models, expanding the idea that the application of AI models is key to helping business and consumer users adopt AI technology. The move also boosts Google’s position in the AI race, especially as new reports show that Google’s web traffic has increased since the release of its Gemini 3 generative AI model.
Google applied Gemini to Gmail, introducing new features such as an AI Inbox, AI Overviews in Search, Contextual Suggested Replies, Gemini Proofreading, and the expansion of its “Help Me Write” feature.
The new AI inbox replaces the chronological email view with time-sensitive emails, such as upcoming fees or appointments that require rescheduling. Instead of Smart Replies, the AI technology can now suggest replies to help users generate drafts written in their own style or tone. Gemini Proofreading uses Gemini 3 to fix grammar and other writing errors. The AI Overviews in Search feature provides users with summaries and answers to their questions based on the content of their emails.
Two of Gmail’s leading email platform rivals, Microsoft Outlook and Apple Mail, have also incorporated AI capabilities.
Helpful But Not Revolutionary
While the ability for AI technology to write emails for users might be helpful, the new features Google is introducing are not game-changing, said Keith Kirkpatrick, an analyst at Futurum Group.
“When you look at the way work is being done now, a lot of it is not being done necessarily in email,” Kirkpatrick said. “It’s being done across other platforms.”
However, AI tools, such as the ability to use natural language to search and find an email, help mitigate one challenge, Kirkpatrick said.
“If you think about how email systems used to be designed, it was impossible to find anything,” he said. “This does change it. It makes it easier to find information that’s buried by 10, 15 years into your history.”
On the other hand, the infusion of AI into email and other aspects of daily life could pose some challenges for users, who may end up with the technology generating an email with content they do not want included, Kirkpatrick continued. In such situations, users must still exercise due diligence in monitoring AI-generated emails; it is common for many to send emails without checking or re-reading them.
“We’re getting overwhelmed with incorporating AI into everything,” Kirkpatrick said. “That doesn’t mean that it won’t eventually be helpful. However, I think the bigger issue is ensuring that we, as workers, know how to use these tools in the most efficient way possible.”
OKX Launches Crypto Rewards in Europe
OKX has launched OKX Crypto Rewards for customers across the European Economic Area (EEA), offering a secure, flexible way to earn yield on idle crypto assets such as USDC, BTC, SOL, and ETH, including an average historical annualised yield of around 3.5% on USDC.
The launch comes as recent regulatory changes have reshaped the European crypto landscape. Several major platforms have withdrawn or restricted stablecoin reward products for European users, leaving many customers holding idle assets with limited options to put them to work. OKX Crypto Rewards is built specifically to address this gap.
OKX Crypto Rewards provides liquidity for Spot Margin trading on OKX, enabling active traders to access the assets they need to open and manage positions. Customers’ idle assets are matched with vetted borrowers, and traders pay to borrow this liquidity in real time. This demand-driven market mechanism is what generates yield for Crypto Reward participants.
“Our European customers have made it clear: they want a compliant solution that doesn’t force them to sacrifice flexibility,” said Erald Ghoos, CEO of OKX Europe. “Crypto Rewards brings yield to European customers through a transparent lending model, while keeping assets liquid and accessible 24/7.”
Key Features of OKX Crypto Rewards
- Hourly Yield Accrual
Rewards accumulate every hour based on real-time market demand, ensuring users are continuously compensated while their assets are active. - No Lock-Ups, Full Liquidity
Assets can be redeemed instantly, with no fixed terms or waiting periods, allowing users to trade or withdraw whenever needed. - Transparent, Regulated Structure
Yield is generated through a clear supply-and-demand lending mechanism, supported by strict collateral requirements and risk controls for borrowers. - Multiple Supported Assets
Customers can participate with popular assets including USDC, BTC, and ETH.
For customers transitioning from platforms that have reduced yield offerings in Europe, Crypto Rewards provides a familiar yet more flexible alternative. For newer crypto holders, it offers a straightforward way to put idle assets to work without navigating complex DeFi protocols or committing to long-term lock-ups.
OKX Crypto Rewards is now available to eligible European customers via the OKX platform. Customers can activate Crypto Rewards with just a few clicks and begin earning hourly rewards immediately, while maintaining full control over their assets.
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Disclaimer: The information provided on AlexaBlockchain is for informational purposes only and does not constitute financial advice. Read complete disclaimer here.
Polygon Pushes a New Payments Stack for Compliant Stablecoin Settlement Across Chains
- Polygon Labs announced “Open Money Stack,” a modular payments infrastructure framework aimed at regulated stablecoin payments and modernizing cross-border money movement.
- What it’s designed to do: Combine key building blocks—settlement, liquidity, orchestration/routing, and compliance—into a single, modular system.
- Polygon said fintechs and institutions will be able to adopt only the components they need.
Polygon Labs is pitching a new “Open Money Stack” as stablecoin payments move from crypto-native rails toward mainstream financial plumbing, outlining a modular framework it says will help fintechs and regulated institutions move tokenized dollars across borders without stitching together wallets, on-ramps, routing and compliance tools from multiple vendors.
“All money will move onchain over time. The companies and infrastructure that define that future will be built in the next few years, and this is the moment that matters,” Polygon Founder Sandeep Nailwal and Polygon Labs CEO Marc Boiron said in a joint statement sahred with AlexaBlockchain.
“Our mission is simple. Move all money onchain and make it seamless, open, and interoperable for everyone,” they added.
The company said the Open Money Stack—scheduled to roll out in phases—will bundle onchain settlement with orchestration, liquidity and compliance services, while remaining “chain neutral” so payment firms can accept assets from multiple networks without forcing end users to bridge tokens or manage gas.
The announcement lands as stablecoins, once primarily used for crypto trading, increasingly show up in cross-border flows and corporate treasury experiments. Citigroup, in a September 2025 report, projected stablecoin issuance could reach about $1.9 trillion in a base case by 2030 and $4.0 trillion in a bull case. The outlook hinges less on token mechanics than on whether compliant distribution and settlement networks can scale.
A framework aimed at regulated money movement
Polygon’s framing is that the hardest part of stablecoin adoption is no longer the blockchain itself, but the surrounding “plumbing”: onboarding from bank accounts into tokenized cash, screening transactions, managing wallet UX, and routing payments across liquidity venues and rails. On its “vision” page for the Open Money Stack, Polygon argues today’s money movement remains “slow, expensive and uncertain,” and that “all money will be onchain,” with the category-defining infrastructure built over the next few years.
Polygon says the Open Money Stack will include components such as blockchain rails, wallet infrastructure, on- and off-ramps, cross-chain interoperability, compliance tooling, onchain identity and “onchain earning,” positioning the system as a one-stop integration for payment providers that want to keep funds onchain rather than treat blockchains as a temporary settlement hop.
The company also tied the initiative to its broader interoperability efforts—pointing to Agglayer as a way to make chains “invisible” to users, so senders and recipients interact as if they’re on the same network even when settlement is happening across multiple chains.
Why Polygon is leaning into payments
Polygon is attempting to differentiate on operational track record and stablecoin liquidity. Its payments marketing pages cite about $3 billion of stablecoin supply on Polygon, $0.001 average transaction costs, and 5.3+ billion total transactions—metrics it uses to argue the network is already supporting production payment flows rather than pilots.
In a year-end 2025 recap, Polygon Labs said much of Polygon’s sustained usage came from applications that “move value” such as payments, remittances, subscriptions and onchain financial products, and it highlighted activity tied to fintech integrations including Stripe and Revolut.
A crowded race for stablecoin “plumbing”
Polygon is far from alone in building a payments stack around tokenized dollars.
- Visa said in December 2025 it launched USDC settlement for U.S. institutions, citing more than $3.5 billion in annualized stablecoin settlement volume as it expands stablecoin-based settlement beyond pilot corridors.
- Circle markets a suite of stablecoin payments tools and describes a “Circle Payments Network” intended to connect financial institutions for real-time, stablecoin-powered money movement.
- Traditional finance is also experimenting with clearing layers. Barclays took a stake in stablecoin-settlement startup Ubyx, as banks explore ways to settle across stablecoins from different issuers within regulatory boundaries.
Those efforts reflect a broader shift: stablecoins are increasingly treated as a new settlement rail, but the market’s center of gravity is moving toward compliance, identity, dispute handling, issuer risk, and the ability to connect stablecoins with bank accounts and merchant acceptance at scale.
Polygon Labs said the Open Money Stack will launch in phases and is soliciting early partners.
The market impact will likely hinge on specifics still to come: which compliance standards and jurisdictions it supports first, how it handles fiat on/ off-ramps and identity, whether it can route across multiple chains without reintroducing “closed network” dynamics, and how pricing compares with incumbents building similar rails.
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Disclaimer: The information provided on AlexaBlockchain is for informational purposes only and does not constitute financial advice. Read complete disclaimer here.
CLARITY Act Needs Bipartisan Support in Senate Banking Committee: Analyst
The passage of the Digital Asset Market Clarity Act of 2025, also known as the CLARITY market structure bill, hinges on bipartisan support in the United States Senate Banking Committee, according to Alex Thorn, head of research at crypto investment firm Galaxy.
Typically, the Senate needs at least 60 votes to advance legislation, and Republicans need seven to 10 Democrats to vote yes on the CLARITY Act, Thorn said on Friday.
If Republicans can secure four votes from Democrats on the Senate Banking Committee, it is “likely” that all 17 Democratic senators who voted for the GENIUS Act, a stablecoin regulatory framework, will vote with Republicans to advance the market structure bill. Thorn added:
“Advocates for the market structure bill want to see a similar level of bipartisanship next week. Absent a strong bipartisan showing in the Senate Banking Committee vote, the bill’s odds of passing in 2026 drop dramatically.”
The US Congress passing a crypto market structure framework would foster crypto adoption, especially among institutional investors, who may be hesitant to adopt digital asset technology due to unclear regulations and the possibility of a regulatory rollback, Thorn said.
Related: Crypto reps fly to US Capitol this week to address market structure bill
What happens if market structure bill doesn’t pass?
If the CLARITY Act fails to pass in the Senate, the impact on the crypto industry would be “relatively minimal,” Thorn said, adding that industry players have already secured several key policy objectives through the pro-crypto regulatory pivot in the US.
However, short-term investor sentiment will likely be impacted if the bill fails to advance, Thorn said, with the 2026 US midterm elections making it “highly uncertain” that the bill will see a second vote in 2026 if it fails to advance on Jan. 15.
Investment Bank TD Cowen recently warned that crypto market structure legislation may not pass until 2027, and might take effect in 2029, if Democratic lawmakers manage to stall the vote beyond the midterm elections and regain power in at least one chamber of Congress.
Trump-era regulations that benefited the crypto industry, artificial intelligence and the broader tech industry could be rolled back if Republicans lose control of either chamber in the 2026 midterms, billionaire hedge fund manager Ray Dalio said.
Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
US Lawmakers Demand Ethics Safeguards for Market Structure Bill: Report
Democratic leaders on key committees considering crypto market structure legislation are reportedly drawing a line in the sand over elected officials profiting off the industry.
A number of Democratic lawmakers in the US Senate are reportedly pushing for conflict-of-interest guardrails in a crypto market structure bill under consideration.
According to a Thursday report from Punchbowl News, Senate Democrats including Adam Schiff and Ruben Gallego demanded safeguards in the Republican-led Responsible Financial Innovation Act (RFIA) which would affect how US regulatory agencies and the government handles digital assets. The lawmakers reportedly pushed for provisions prohibiting public officials, including US President Donald Trump, from profiting from any connections to crypto companies.
“It is a red line,” Gallego told Punchbowl on the ethics guardrails. “They need to get it right, or they’re not going to have enough votes to pass this.”
The market structure bill, which passed the US House of Representatives as the CLARITY Act, has been under consideration in the Senate since July. Amid debate over provisions such as addressing potential conflicts of interest and decentralized finance, the bill also faced delays from a 43-day government shutdown in October and November.
Related: Stand With Crypto puts market structure at top of 2026 agenda
Drafts of the Responsible Financial Innovation Act made public by the Senate Banking Committee and Senate Agriculture Committee showed that the bill could give the US Commodity Futures Trading Commission (CFTC) more authority in regulating digital assets. However, some experts have speculated that the 2026 midterm elections could draw support from the bill, especially among Democrats.
RFIA’s top supporter to leave Senate in 2027
Wyoming Senator Cynthia Lummis, one of the market structure bill’s earlier supporters and the lawmaker leading the charge for the legislation on the Senate Banking Committee, announced in December that she would not run for reelection in 2026. She will leave the Senate in January 2027.
Senate Banking Committee Chair Tim Scott said this week that the body would hold a markup on the RFIA on Thursday. As of the time of publication, no markup event was on the committee’s public calendar, or that of the Senate Agriculture Committee.
Magazine: When privacy and AML laws conflict: Crypto projects’ impossible choice
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
Flutterwave Acquires Mono to Accelerate Open Banking Push Across Africa
Flutterwave, Africa’s leading payments technology company, has acquired Mono, a pioneer in open banking infrastructure. The move is designed to deepen Flutterwave’s account-to-account (A2A) payment capabilities and build a more connected financial ecosystem across the continent.
The transaction, announced on 5 January, positions open banking as a central pillar in Flutterwave’s strategy. By integrating Mono’s API-driven platform—which facilitates financial data access, identity verification, and direct bank payments—Flutterwave aims to support the region’s shift away from card rails toward bank-based and authenticated payment methods.
Independent operations
Under the terms of the deal, Mono will continue to operate as an independent entity. There will be no changes to its leadership structure, team, or day-to-day operations. Flutterwave stated that its stake allows for “strategic alignment rather than operational control,” enabling Mono to maintain its innovation pace while contributing infrastructure to the broader ecosystem.
The strategic rationale
The acquisition addresses the growing demand for trusted, data-led financial services in Africa. Integrating Mono’s technology is expected to streamline compliance-heavy processes for businesses, such as identity checks and bank verification, while improving transaction conversion rates and reducing fraud.
Olugbenga ‘GB’ Agboola, founder and CEO of Flutterwave, commented on the synergy: “Payments, data, and trust cannot exist in silos. Open banking provides the connective tissue, and Mono has built critical infrastructure in this space. This acquisition allows us to expand what’s possible for businesses operating across African markets, while staying grounded in security, compliance, and local relevance.”.
Beyond immediate operational improvements, the collaboration opens pathways for richer alternative payment methods. The companies notably highlighted the potential for “open banking-enabled stablecoin use cases” in the future.
Abdulhamid Hassan, founder and CEO of Mono, added: “Mono’s capabilities across financial data access, direct bank payments, and identity verification, combined with Flutterwave’s unmatched scale and global reach, create something more defensible and comprehensive. This acquisition allows us to build the infrastructure layer that powers the next generation of African fintech at the speed and scale the continent deserves.”.
Founded in 2020, Mono connects to over 50 banks and reaches more than 8 million bank customers across Africa. The transaction was advised by The Chrysalis Advisors Africa.