**Klarna’s Big IPO Boosts Fintech Hopes**

Swedish fintech Klarna made headlines this week after raising $1.37 billion in its U.S. IPO, making it one of the biggest fintech public listings of the year. Klarna sold 34.3 million shares at $40 each, beating its expected range and bringing the company’s valuation to around $15 billion. While this is a strong showing, it’s still far below the $45 billion valuation Klarna reached during the pandemic boom.

Investor interest was sky-high, with the IPO oversubscribed by 25 times. Klarna, known for its buy-now-pay-later services, has been burning cash while growing in the U.S. The company lost $52 million in Q2, but still saw a 21% increase in sales compared to last year.

**SEC Outlines New Crypto Rules**

At an OECD meeting in Paris, SEC Chair Paul Atkins introduced a bold new strategy under “Project Crypto” to regulate blockchain-based markets more clearly. The goal is to move away from unclear enforcement actions and create consistent rules that help crypto businesses grow in the U.S.

Key updates include: most crypto tokens won’t be treated as securities, and crypto platforms will be allowed to function as “super apps” offering trading, lending, and staking services. The SEC is also preparing for AI’s growing role in finance by forming a dedicated task force and supporting innovation in agent-driven financial tech.

**Paxos and PayPal Team Up on USDH Stablecoin**

Stablecoin issuer Paxos has revised its plan for USDH, the stablecoin of decentralized exchange Hyperliquid. The update now includes support from PayPal and Venmo. PayPal will enable checkout options using both the USDH stablecoin and the HYPE token, and is committing $20 million in incentives to help grow the Hyperliquid ecosystem.

Venmo and PayPal’s Xoom remittance service will also integrate USDH. Paxos says its regulatory approval in the EU gives USDH a global edge. Paxos only starts earning from USDH after major growth goals are hit, and all early revenue will be reinvested into Hyperliquid until its total value locked (TVL) hits $1 billion. Beyond $5 billion TVL, Paxos will cap its revenue share at 5%.

**Cboe to Launch 10-Year Bitcoin and Ethereum Futures**

Cboe Global Markets plans to launch long-term futures contracts for Bitcoin and Ethereum starting November 2025, pending regulatory approval. Unlike traditional futures that expire quickly and require frequent rolling over, these new contracts let investors hold positions for up to 10 years.

The contracts will be cash-settled based on real-time crypto prices and include daily funding adjustments to stay in line with market prices—similar to perpetual futures used in DeFi. This marks a big step forward in regulated long-term crypto investment options in the U.S.

**India Hesitates on Full Crypto Regulations**

India is taking a cautious approach toward crypto regulation. A government paper reviewed recently shows that Indian officials don’t plan to introduce full-scale rules anytime soon. The Reserve Bank of India is concerned that regulating digital assets might give them too much legitimacy and pose risks to the financial system.

While countries like Japan and Australia move forward with clearer crypto rules, India prefers limited oversight for now. Past attempts to ban private cryptocurrencies failed, and a planned 2024 discussion has been put on hold. For now, India is focusing on containment rather than growth in the crypto space—even as Bitcoin prices reach new highs globally.

**Rapyd Launches All-in-One Stablecoin Payment System**

Fintech company Rapyd has rolled out a new Stablecoin Payment Solution that lets businesses accept, settle, and pay using stablecoins—all through one unified platform. The goal is to simplify global money movement by replacing multiple providers with a single tool.

With over $27 trillion in stablecoin transactions recorded this year, Rapyd is tapping into a huge market. The platform offers real-time payouts, treasury management, and currency conversion—making it especially useful for industries like gaming and e-commerce that rely on fast payments and liquidity.

As regulations like Europe’s MiCA and the U.S.’s GENIUS Act come into play, Rapyd aims to help companies cut costs and streamline international transactions through stablecoins.