This Week in Fintech
*Welcome to the first edition of the Finzil Weekly Digest — your curated briefing on the most important fintech developments. We cut through the noise to bring you the stories that actually matter for your business.*
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1. MiCA's First Enforcement Actions
The EU's Markets in Crypto-Assets Regulation has moved from implementation to enforcement. Several crypto exchanges operating without proper MiCA authorization received formal warnings from national regulators this week.
Why it matters: If you're running a crypto business in the EU, the grace period is over. MiCA compliance is now a business-critical requirement, not a future consideration.
What to do: Review your MiCA compliance status. If you're not yet authorized, engage a regulatory consultant immediately.
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2. Revolut's European Banking License: Still Waiting
Revolut's application for a European banking license (via Lithuania) continues to face delays. The Bank of Lithuania has requested additional information for the third time, according to sources familiar with the process.
Why it matters: Revolut's banking license would allow it to offer deposit protection and lending products across the EU — significantly expanding its competitive position against traditional banks.
The bigger picture: Revolut's struggles highlight the complexity of obtaining a full banking license, even for a company with 40M+ customers and €2B+ in revenue.
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3. The EMI Consolidation Wave Accelerates
Three Lithuanian EMIs announced they were ceasing operations this week, citing the increased compliance costs from DORA implementation and intensifying competition from larger players.
Why it matters: The EMI market is bifurcating. Large, well-capitalized EMIs are growing. Smaller, undercapitalized ones are struggling to survive. If you use a smaller EMI, now is a good time to review their financial health.
What to look for: Check your EMI's regulatory standing on the Bank of Lithuania's public register. Look for any enforcement actions or supervisory notices.
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4. Open Banking Adoption Hits New High
Open Banking transactions in the UK reached 15 million per month in Q1 2025, up 40% year-on-year. The EU is seeing similar growth, driven by PSD2 implementation and new payment initiation services.
Why it matters: Open Banking is becoming a mainstream payment method, particularly for high-value B2B transactions where card fees are prohibitive.
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5. Stablecoins Enter the Mainstream
A major European retailer announced it would accept USDC payments via a MiCA-authorized stablecoin issuer — the first major European retail adoption of stablecoin payments.
Why it matters: MiCA's stablecoin framework is enabling real-world adoption. Expect more announcements in the coming months.
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*That's it for this week. If you found this useful, share it with a colleague. See you next week.*
*— The Finzil Editorial Team*