KEY TAKEAWAYS Aave became the first DeFi protocol to surpass $1 trillion in cumulative lending volume on 25 February 2026, a milestone announced by founder Stani Kulechov and subsequently reported by major crypto outlets. Total value locked fell from an all-time high of $45.81 billion on 7 October 2025 to a 2026 low of $11.86 billion on 7 June, a 74% drawdown, before recovering to $17.69 billion, up 21.6% over the past 30 days. Aave V3 now holds 96.6% of total protocol TVL across 21 chains, with Ethereum anchoring $14.27 billion. Protocol utilization stands at 74.82% with $11.12 billion in active borrowing, while monthly fees exceeded $83 million as of the early 2026 reporting periods. Aave Horizon launched institutional RWA services with VanEck and WisdomTree, processing $1 billion in tokenized real-world assets through the permissioned platform. Aave crossed $1 trillion in cumulative loan originations on 25 February 2026. No other DeFi protocol has reached that milestone. The number places a permissionless smart contract system alongside traditional banking institutions in terms of raw volume.  Despite that achievement, Aave's TVL fell from an all-time high of $45.81 billion on 7 October 2025 to a 2026 low of $11.86 billion on 7 June, a 74% drawdown, before recovering to $17.69 billion, up 21.6% over the past 30 days, according to DefiLlama. Aave's $10 billion TVL threshold is not an official protocol benchmark, but it provides a useful measure of scale. Staying above it signals that Aave retains a large capital base despite volatility across the broader DeFi market. This article examines why the $10 billion threshold remains structurally significant, how institutional adoption is reshaping the protocol, and what risks investors should monitor heading into the second half of 2026. The $1 Trillion Milestone and What Drove It Aave crossed $1 trillion in cumulative lending volume on 25 February 2026, a milestone announced by founder Stani Kulechov and subsequently reported by major crypto outlets. Monthly protocol fees exceeded $83 million at the time. The protocol commanded 62.8% of the entire decentralized lending market by share. Aave V3 holds 96.6% of all protocol TVL. The older V2 version retains approximately $109 million in balances. Ethereum anchors $14.27 billion of V3 supply. Plasma ranks second at approximately $552 million, followed by Base at roughly $512 million and Arbitrum at about $489 million. MegaETH holds approximately $28.27 million and ranks 12th. Total deployment spans 21 blockchain networks. All-time protocol fees reached $1.70 billion. Revenue attributable directly to the protocol treasury stood at $227.12 million. These figures distinguish Aave from speculative DeFi projects, and real revenue from lending operations provides a valuation floor that purely narrative-driven tokens cannot match. Why TVL Fell 74% Despite Record Usage Aave's TVL reached an all-time high of $45.81 billion on 7 October 2025 before falling to a 2026 low of $11.86 billion on 7 June. This represented a 74% drawdown. Since then, TVL has recovered to $17.69 billion, up 21.6% over the past 30 days. The decline mirrored broader crypto market weakness. Bitcoin fell roughly 27% year to date during the same period. Ethereum dropped even further in percentage terms. Declining collateral values mechanically reduce TVL in dollar terms. When ETH prices fall, the same amount of locked ETH represents fewer dollars in TVL calculations. This creates the appearance of capital flight even when actual depositor behavior remains stable across the protocol. Protocol utilization at 74.82% tells a more constructive story, and active borrowing of $11.12 billion against deposits indicates steady demand for on-chain credit. Liquidation risk dropped 84% year over year to just $53 million, Spoted Crypto noted. That reduction signals a structurally healthier lending market compared to previous DeFi cycles. Institutional RWA Adoption Through Aave Horizon Aave Horizon launched as the protocol's institutional gateway for real-world asset tokenization. VanEck and WisdomTree became early participants, processing $1 billion in tokenized assets through the permissioned platform. This bridges traditional finance institutions into a decentralized lending infrastructure. The GHO stablecoin, Aave's native stable asset, reached a market capitalization of $583.61 million. AAVE traded at approximately $112.24 with a market capitalization of $1.73 billion. That represents an approximately 83.0% decline from its $661.69 all-time high on 18 May 2021. Token price performance has lagged the protocol's operational growth significantly. Mantle's Aave integration crossed $1 billion in total market size within three weeks, according to  Chainwire. That speed suggests institutional capital can deploy rapidly when regulatory and infrastructure conditions align properly across Layer 2 networks. Regulatory Implications Aave's institutional products operate within Dubai's VARA framework and comply with emerging EU MiCA standards. U.S. regulatory clarity through the CLARITY Act could expand permissible institutional participation. SEC classification of DeFi lending tokens remains unresolved heading into September. What's Next? Aave V4 development introduces a hub-and-spoke architecture designed to unify liquidity across all 21 active chains. Non-EVM Layer 1 deployments would expand Aave beyond the Ethereum ecosystem. All projections discussed remain speculative. Investors should conduct independent research before making any decisions. FAQs What is Aave's current TVL? Aave's total value locked fell from an all-time high of $45.81 billion on 7 October 2025 to a 2026 low of $11.86 billion on 7 June, before recovering to $17.69 billion, up 21.6% over the past 30 days. Has Aave reached $1 trillion in loans? Aave became the first DeFi protocol to record $1 trillion in cumulative lending volume on 25 February 2026, a milestone announced by founder Stani Kulechov and subsequently reported by major crypto outlets. What is Aave V3? Aave V3 is the latest protocol version holding 96.6% of total TVL, deployed across 21 chains with improved capital efficiency and risk isolation. What is Aave Horizon? Aave Horizon is the protocol's institutional RWA platform where VanEck and WisdomTree have processed $1 billion in tokenized real-world asset transactions. What is GHO stablecoin? GHO is Aave's native decentralized stablecoin with a market capitalization of $583.61 million, minted against collateral deposited within the Aave protocol. Why did Aave's TVL drop in 2026? TVL declined 74% from its $45.81 billion all-time high primarily because falling crypto prices reduced the dollar value of locked collateral, not depositor withdrawals. What is Aave's market share in DeFi? Aave commands approximately 62.8% of the decentralized lending market by volume share, making it the dominant protocol in on-chain credit markets. References CoinLaw Aave Statistics 2026: TVL, V3 Share, LTV Ratios Spoted Crypto Aave $1T Loans and DeFi TVL $95B: 2026 Guide Spoted Crypto DeFi TVL $97.6B, Aave $1T Loans Chainwire Mantle and Aave Cross $1 Billion

Cybersecurity researchers have discovered a set of trojanized npm packages that masquerade as working calendar and streak utilities but are engineered to stealthily deliver an artificial intelligence (AI)-powered Linux implant dubbed RedC2 4.0. "When the module loads, it locates the bundled binary, marks it executable, and launches it as a detached background process," TrendAI, Trend Micro's

Ranked: The World’s Largest Gold Producers (2010 vs. 2025) Key Takeaways China remains the world’s largest gold producer, with output rising from 351 tonnes in 2010 to 384 tonnes in 2025. Russia climbed from fifth to second place as gold production increased 70% over the period. BRICS and aligned nations increased their share of global gold production from 38% to 50% between 2010 and 2025. The global gold mining landscape has shifted considerably over the last 15 years, reshuffling several positions below China. Canada and Ghana have become much larger producers, while former mining heavyweight South Africa has seen its output fall sharply. This graphic compares gold production by country in 2010 and 2025. The data for this visualization comes from the World Gold Council, as of December 2025. China Holds On to the Top Spot China remained the world’s largest gold producer across both years, increasing annual output from 351 tonnes in 2010 to 384 tonnes in 2025. Russia recorded a much larger gain, with production rising from 203 tonnes to 345 tonnes and its ranking jumping from fifth to second. Rank (2025)CountryGold Production 2010 (Tonnes)2025 (Tonnes)Change (%) 1 China3513849% 2 Russia20334570% 3 Australia25729314% 4 Canada102213109% 5 Peru18520913% 6 Ghana9418799% 7 United States231157-32% 8 Uzbekistan6912581% 9 Mexico7911444% 10 Indonesia132104-21% 11 South Africa21099-53% 12 Burkina Faso4594109% 13 Brazil728721% 14 Mali438393% 15 Kazakhstan3082173% -- Papua New Guinea7053-24% -- Tanzania47519% -- Argentina6438-41% Australia remained near the top, moving from second to third even as production increased to 293 tonnes. Together, China, Russia, and Australia produced more than 1,000 tonnes of gold in 2025. Gold Production Shifts Away from Traditional Leaders Some established gold producers have moved sharply down the rankings. U.S. production fell from 231 tonnes in 2010 to 157 tonnes in 2025, pushing the country from third to seventh place. South Africa saw an even steeper decline, with output dropping by more than half from 210 tonnes to 99 tonnes. In contrast, Canada more than doubled its production, rising from 102 tonnes to 213 tonnes and climbing from eighth to fourth. Ghana also nearly doubled its output to 187 tonnes, making it the world’s sixth-largest producer in 2025. BRICS and Aligned Nations Gain Ground Another major shift is the growing weight of BRICS and aligned nations in global gold supply. Their combined share of global production increased from 38% in 2010 to 50% in 2025. China and Russia are the two largest producers in this group, while countries such as Uzbekistan and Kazakhstan have also become increasingly significant suppliers. Learn More on the Voronoi App If you enjoyed today’s post, check out Central Banks Return to Gold on Voronoi.

FINRA has censured and fined Cowen and Company $80,000 for violating securities rules related to a 2022 partial tender offer, according to a Letter of Acceptance, Waiver, and Consent (AWC) released by the regulator. Cowen, once an independent broker-dealer, was merged into TD Securities (USA) LLC in December 2024 and subsequently withdrew its FINRA registration in February 2025. According to the AWC, Cowen violated Rule 14e-4 of the Securities Exchange Act of 1934 by over-tendering 100,000 shares during a modified Dutch auction-style partial tender offer for an unnamed company in 2022. The firm, acting alongside an affiliate, tendered 150,000 shares without properly calculating its net long position. Regulators found that Cowen failed to account for 1,000 short call options held in its proprietary account, which represented 100,000 underlying shares with an exercise price below the highest tender price offered. FINRA also determined that Cowen’s supervisory framework, including its written supervisory procedures, was inadequate between October 2022 and May 2024. The firm’s procedures did not clearly address how to calculate short call options with exercise prices falling between the final tender price and the highest offer price in Dutch auction tender offers. Cowen has since updated its procedures to address the gap. Under the settlement, Cowen agreed to the censure and fine without admitting or denying FINRA’s findings, with $40,000 of the penalty going to FINRA and the remainder allocated to NYSE Arca. At the time of its merger, Cowen had 274 registered representatives and 12 branch offices, while TD Securities now operates with roughly 1,600 registered representatives across 22 branches.The post TD Securities’ Cowen Unit Fined $80,000 by FINRA Over Tender Offer Violation first appeared on LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis.

The Financial Industry Regulatory Authority (FINRA) has imposed a fine on Cowen and Company. The post FINRA fines Cowen and Company for alleged rule violations appeared first on FX News Group.

the cyprus securities and exchange commission (cysec) issued circular c773 addressing the role and supervisory activities of ucits and aifs depositaries (cydeps) for 2026. the circular emphasises the essential role of depositaries in safeguarding investor interests, ensuring transparency, and maintaining the integrity of collective investment funds. key points include: cysec guidance to cydeps to present their depositary activities key areas include: the cyprus securities and exchange commission issued circular c773 addressing the role and supervisory activities of ucits and aifs depositaries for 2026. the circular emphasises the essential role of depositaries in safeguarding investor interests, ensuring transparency, and maintaining the integrity of collective investment funds. cysec highlights 2026 regulatory priorities for ucits and aifs depositaries the cyprus securities and exchange commission (cysec) issued circular c773 addressing the role and supervisory activities of ucits and aifs depositaries (cydeps) for 2026. the circular emphasises the essential role of depositaries in safeguarding investor interests, ensuring transparency, and maintaining the integrity of collective investment funds. key points include: cysec guidance to cydeps to present their depositary activities key areas include:

Austria’s financial regulator has published its first legally final MiCA penalty — and the target is one of Europe’s most prominent regulated crypto platforms. The case is financially small but regulatorily significant: MiCA’s whitepaper and marketing rules are now being enforced. Executive Summary The Austrian Financial Market Authority (FMA) has imposed a €70,000 fine on Bitpanda GmbH for several breaches of the EU Markets in Crypto-Assets Regulation (MiCAR). The decision, published on 14 August 2026, is legally final and represents the first MiCAR penal order publicly disclosed by the Austrian regulator. The case does not concern custody failures, loss of customer funds, AML deficiencies or platform security. Instead, it concerns the mechanics of bringing and marketing a crypto-asset under MiCA Title II: a late whitepaper notification, premature marketing and missing mandatory disclosures. That distinction matters. The €70,000 fine is modest. The regulatory message is not. MiCA has moved from licensing to enforcement. What The FMA Found According to the FMA, Bitpanda committed several breaches relating to a crypto-asset whitepaper and associated marketing communication. IssueMiCA provisionFMA findingWhitepaper notificationArt. 8(1) and 8(5)Required documentation was not submitted at least 20 working days before publicationPremature marketingArt. 7(2)Marketing was disseminated before the required whitepaper had been publishedMissing regulatory disclaimerArt. 7(1)(e)Marketing lacked the mandatory warning that no EU competent authority had reviewed or approved it and that responsibility rests with the offerorMissing contact detailsArt. 7(1)(d)Required telephone number and email address were absent These requirements are not optional boilerplate. Article 7 MiCA specifically regulates how crypto-assets other than ARTs and EMTs may be marketed, while Article 8 requires advance notification of the whitepaper and the accompanying token-classification explanation. Importantly, a MiCA whitepaper is not approved by the regulator: Article 8 expressly states that competent authorities must not require prior approval. This makes the mandatory “not reviewed or approved” disclaimer particularly important. A Regulated Platform — But Still Subject To Enforcement The case has additional significance because Bitpanda is not an unlicensed offshore operator. The FMA granted Bitpanda GmbH its MiCA CASP authorisation on 9 April 2025, covering custody, crypto/fiat and crypto/crypto exchange, execution of orders, placing, reception and transmission of orders and crypto-asset transfers. The same regulated entity has now become the subject of Austria’s first published MiCA sanction. That illustrates a fundamental point likely to become increasingly important across the European crypto industry: A MiCA licence is not a compliance certificate for everything a crypto group does. CASP licensing under Title V and the rules governing the issuance, admission and marketing of crypto-assets under Title II are separate compliance layers. A licensed CASP can therefore still breach MiCA when participating in the launch or promotion of a token. Bitpanda: Procedural Breaches, No Customer Harm Bitpanda told The Block that the proceedings concerned a token launch in 2025 and described the findings as relating exclusively to timing and formal requirements surrounding the whitepaper and an accompanying information document. The company said the issues were corrected immediately after being raised by the FMA and stressed that customer funds, platform security and the integrity of the Bitpanda ecosystem were not compromised and that customers suffered no financial harm. Bitpanda opted for what it described as a swift, consensual conclusion of the proceedings. That is consistent with the procedural route used by the FMA. The proceedings were terminated under the accelerated procedure pursuant to Section 22(2b) FMABG. Under the FMA’s description of this mechanism, the affected party waives an appeal and the regulator treats the assumption of responsibility as a mitigating factor in determining the penalty. The resulting €70,000 penalty should therefore not be read as indicating the maximum seriousness of the underlying MiCA provisions. Austria’s MiCA Enforcement Act provides materially higher potential sanctions against legal persons. For relevant Title II infringements, the statutory framework permits fines reaching €5 million and, for certain violations, up to 3% of annual turnover, depending on the applicable offence and calculation method. The Unnamed Token — Was It Vision (VSN)? One interesting question remains unanswered. Neither the FMA announcement nor Bitpanda’s reported statement identifies the crypto-asset involved. The timing nevertheless deserves attention. Bitpanda’s most prominent token project launched during 2025 was Vision (VSN), the ecosystem token created from the merger of BEST and Pantos. Bitpanda announced Vision in March 2025 and VSN officially began trading on 16 July 2025. Current documentation identifies the VISION Web3 Foundation in Switzerland as the issuer of VSN, while the token remains deeply integrated into Bitpanda’s Web3 ecosystem. This makes VSN an obvious candidate when analysing the reference to a “token launch in 2025.” However, FinTelegram has found no public confirmation from the FMA or Bitpanda that the sanction relates to VSN. It would therefore be inappropriate to present that connection as established fact. FinTelegram Assessment The direct financial impact on Bitpanda is immaterial for a company of its size. The precedent is considerably more important. The FMA itself explicitly said that MiCA is no longer merely a matter of licensing and supervision but has now entered the enforcement phase. This first published case also shows where regulators may initially find straightforward enforcement opportunities: whitepaper deadlines, marketing chronology, mandatory disclaimers and documentation trails can be objectively reconstructed and are relatively easy to prove. For crypto issuers, CASPs and exchanges operating in Europe, the compliance lesson is therefore simple: “We are MiCA licensed” is not enough. Every token launch, listing and marketing campaign requires its own MiCA compliance workflow. For Bitpanda, the €70,000 fine is unlikely to be financially relevant. For the European crypto sector, however, it marks another important transition. MiCA enforcement has arrived. Share Information via Whistle42

CloneFraudsters copy the details of firms we authorise to try and convince people that their firm is genuine. Find out why you shouldn’t deal with this clone firm. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not authorised by us but has been contacting people pretending to be an authorised firm. We call this a clone firm. Search our Warning List for other unauthorised and clone firms we're aware of. Clone firm details Fraudsters are using the following details to scam people: Name: wealth-db.co.uk (clone of FCA Authorised firm) Telephone: 020805802143 Email: james.gordon@wealth-db.co.uk Scammers may give out other false details, including email addresses, telephone numbers, postal addresses and Firm Reference Numbers. They may mix these details with the genuine details of authorised firms. They may also change their contact details over time. FCA authorised firm details This is the genuine, authorised firm that the fraudsters are claiming to work for. It has no connection with the clone firm. The correct details are: Firm Name: DB UK Bank Limited Firm Reference Number: 140848 Address: 21 Moorfields London, EC2Y 9DB, UNITED KINGDOM Telephone: +442075458000 Email: dbfsregister.queries@db.com Website: What this means for you If you deal with this firm, you won't have access to the Financial Ombudsman Service if you want to complain. You also won't be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong. This means it's unlikely you'd get your money back if the firm goes out of business. If you sent money to a fraudster on or after 7 October 2024, you may be covered by protections introduced by the Payment Systems Regulator (PSR). Find out what to do if you've been tricked into making a payment to a scam account. How to protect yourself You should only deal with financial firms that are authorised by us. If a financial firm is authorised by us, it gives you greater protection if things go wrong. You can use the FCA Firm Checker to make sure a financial firm is authorised by us and has our permission to provide the services you're looking for. You'll also be able to find: information on how you're protected contact details for authorised firms If you're contacted unexpectedly by a financial business, make sure you reply using the contact details on the Firm Checker. Find out more about how to protect yourself from scams. Report a clone firm If you think you've been approached by an unauthorised or clone firm, call us on 0800 111 6768, or use our contact form.

This week, we tracked more than 45 tech funding deals worth over €684 million and over 5 exits, M&A transactions, rumours, and related news stories across Europe. If email is more your thing, you can always subscribe to our newsletter and receive a more robust version of this round-up delivered to your inbox. ❗ Want to explore the data in more detail? The free, open-access Tech.eu Funding Explorer offers deeper insights into funding rounds, investor activity, company profiles and market trends. Either way, let's get you up to speed. ? Notable and big funding rounds ?? SoftBank invests $200M in robotics startup Gravis Robotics ?? Ingenico secures €150M in fresh capital ?? Rillet received a $100M investment at a valuation of $1B ??  Callosum raises $100M seed round ??‍?? Noteworthy acquisitions and mergers ?? The Munich-based investment firm Tiven is acquiring Sonnen, the battery storage manufacturer ?? Digital health startup Aepsy acquires Kinastic ?? Billion-dollar startup Dash0 acquires Berlin-based tech company Polar Signals ? Interesting moves from investors ? Defence tech investor and builder Gallos raises $50M ? QuantumLight Closes $500 Million Second Venture Fund to Back AI and Crypto Startups ? Venture studio led by ex-GCHQ & NSA leaders raises £35m ?? Billion-dollar startup Dash0 acquires Berlin-based tech company Polar Signals ?️ In other (important) news ? Monzo chairman Gary Hoffman to stand down after nearly eight years ? ‘A nervous system as a service’: Julian Teicke’s new bet on human connection ? Nebius looks to raise $4.5BN through bond issue ?? France's top-funded tech companies in H1 2026 ? Recommended reads and listens ?‍? At 14, Sasha Bagrov is building a safer marketplace for teenage odd jobs ? How the Marie Skłodowska-Curie Actions transformed research careers over 30 years ?‍❤️‍? Bootstrapped and profitable: Taimi and Hily set their sights on IPO readiness ??  Aisel raises €1.7M to tackle psychiatry’s capacity crisis ?? European tech startups to watch  ? Astute raises $1.2M and launches B2B new media platform ??  AI startup Guideless raises €1M to streamline software training ?? EcoNomad raises £400,000 to bring waste-to-energy tech to small livestock farms ?? Paralo raises £270,000 to tackle golf’s fragmented technology stack

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Warning:Unauthorised Banking BusinessUnauthorised Firm NameRaisin Savings Bank/ Raisin Ireland (Clone) Websitewww.raisin-ie.com Email address usedapply@raisin-ie.com  staff.member@raisin-ie.com Phone numbers used+353 1 575 9032+353 1 546 1020 Authorisation in IrelandThis firm is not authorised to provide banking business services or any other financial services in Ireland. This scam firm has cloned the details of the legitimate Raisin Bank AG, in order to add an air of legitimacy to the scam. It should be noted that there is no connection whatsoever between the legitimate Raisin Bank AG and the unauthorised scam entity. Notes:Any person wishing to contact the Central Bank with information regarding such firms / persons may telephone (01) 224 5800.For more information on how to protect yourself from financial scams, please visit www.centralbank.ie/financialscams The name of the above firm is published under section 53 of the Central Bank (Supervision and Enforcement) Act 2013.

UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not authorised by us and may be targeting people in the UK. Search our Warning List for other unauthorised firms and individuals we're aware of. Unauthorised firm details Name: Surecover Group Ltd Address: 19 New Road, Brighton, East Sussex, UNITED KINGDOM, BN1 1UF Telephone: 08000291894 Email: hello@surecovergroup.co.uk Website: https://surecovergroup.co.uk/ Some firms may give incorrect contact details including postal addresses, telephone numbers and email addresses. They may change these contact details over time. They may also give you details that belong to another business or individual, so the information looks genuine. What this means for you If you deal with this firm, you won't have access to the Financial Ombudsman Service if you want to complain. You also won't be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong. This means it's unlikely you'd get your money back if the firm goes out of business. If you sent money to a fraudster on or after 7 October 2024, you may be covered by protections introduced by the Payment Systems Regulator (PSR). Find out what to do if you've been tricked into making a payment to a scam account. How to protect yourself You should only deal with financial firms that are authorised by us. If a financial firm is authorised by us, it gives you greater protection if things go wrong. You can use the FCA Firm Checker to make sure a financial firm is authorised by us and has our permission to provide the services you're looking for. You'll also be able to find: information on how you're protected contact details for authorised firms If you're contacted unexpectedly by a financial business, make sure you reply using the contact details on the Firm Checker. Find out more about how to protect yourself from scams. Report an unauthorised firm If you think you've been approached by an unauthorised firm, call us on 0800 111 6768, or use our contact form.

New proposals aim to cut compliance and reporting requirements for phase five and six firms

The Singapore digital bank profit story is beginning to separate into three profitability camps, based on their performances for FY2025. GXS Bank recorded the largest loss in FY2025 at S$132 million, more than double that of any other loss-making digital bank. MariBank came next in line at S$55.6 million, then Trust Bank at S$53.5 million, and finally ANEXT Bank at S$49.8 million for FY2025. GLDB, meanwhile, successfully proved its mettle as the only digital bank in Singapore to swing in a profit at S$16.1 million. Source: 2026 Singapore Digital Banking Report Looking deeper into the data from our latest 2026 Singapore Digital Banking Report, there’s more to the story than these five numbers. GXS Bank Says Its Losses Are Narrowing as Growth Picks Up Source: 2026 Singapore Digital Banking Report While GXS Bank has indeed posted the highest loss for the year based on its latest audited financial statement, the bank has successfully narrowed its loss for a second consecutive year. Lai Pei Si, the Group CEO of GXS Bank, commented, Pei-Si Lai “Since we completed our foundational build at the end of 2023, our balance sheet, revenue and assets have continued to grow while costs have reduced over the past two years. Our loan book grew by more than three times to S$814 million from the year before, while our total income increased by nearly 50 per cent to S$44 million.” To give credit where it’s due, the bank has been bringing in more products and services to serve its customers, with 80% comprising early-career professionals, gig workers, and self-employed entrepreneurs. GXS Bank most recently launched the GXS Credit Card, an unlimited cashback credit card that complements Grab and Singtel ecosystems well. It is also the only digital bank in Singapore that offers a 0% credit card, albeit with a flat S$500 limit. But with small steps like this, it is staying true to its promise ‘to make banking better for Singapore’s everyday consumers and small businesses.” Pei Si shared, “We have also invested in new segments and products to enhance our service proposition to customers and to meet their needs, especially when they interact within the ecosystem. Today, our three digital banks serve more than eight million customers across Singapore, Malaysia and Indonesia.” She added on, sharing that their operating leverage has improved YoY, and the bank expects this positive trend and growth trajectory to continue for the rest of the year. Is MariBank’s Revenue Closing the Gap on Its Losses? Source: 2026 Singapore Digital Banking Report MariBank’s loss for the year widened to S$55.6 million in FY2025, its steepest dip yet. It’s total income has been growing steadily and reached S$37.3 million in the same audited year, which is promising given that this is roughly 23X from the S$1.6 million it started off with in 2022. Income now covers close to two-thirds of the annual loss, against 4% a few years ago. Its deposits also show an upward trend. MariBank’s base has grown to S$1.9 billion, the second largest among Singapore’s digital banks after Trust Bank. In a separate report by Business Times, the bank has shared that it “will look to expand its product offerings across loans, investment and business banking.” New features are underway to be launched in H2 2026, according to its spokesperson. MariBank Group, as a whole, is aiming to tap into the Philippines and Singapore to build its digital banking ecosystem. ANEXT Bank Losses Widen, Still On Track to Break Even in 2027 Source: 2026 Singapore Digital Banking Report ANEXT Bank’s incurred loss widened to S$49.8 million for FY2025, its steepest yet and up 34% from the year before. Its income before operating expenses reached S$42.6 million in the same audited year, easing about 5% from FY2024 after two steep years of growth. Its deposits show a clear upward trend. The bank’s deposit base crossed the S$1 billion mark for the first time, reaching S$1.15 billion, up from S$906 million a year earlier. Loans and advances moved the other way, contracting to S$636 million, the first decline after two years of expansion. The bank has signalled two priorities for its next chapter, possibly in a bid to make a turn for the better: a market-first GPU and AI infrastructure financing framework, as well as a deeper push into integrated finance. CEO Kai Qiu has informed the Business Times that the bank is still on track to break even by 2027. Trust Bank Closes In on Profitability, Deposits Near S$4 Billion Source: 2026 Singapore Digital Banking Report Trust Bank turned its first monthly profit in March 2026, a milestone that caps a strong trajectory from its FY2025 term, where the bank reported a loss of S$53.6 million. The bank’s income before operating expenses reached S$135 million for the same audited year, which is 45X the S$3 million sum it started with in 2022. Trust Bank’s loans and advances to customers rose to cross the S$1 billion mark, while non-bank customer deposits climbed to nearly S$4 billion, the largest base among all of Singapore’s digital banks. Much of that growth comes from Trust’s referral engine, which can be attributed to helping the bank reach 1 million customers, about one in five Singaporean adults. CEO Dwaipayan Sadhu believes that the digital bank is on a sustainable path. However, the bank has not officially disclosed which specific products drove revenue growth. GLDB’s Lending-First Bet Delivers Its First Full-Year Profit Source: 2026 Singapore Digital Banking Report GLDB crossed into the black for the first time in FY2025, posting a profit after tax of S$16.1 million and reversing the S$5.1 million loss it carried a year earlier. Total operating income reached S$71.8 million in the same audited year, roughly 56X from the S$1.3 million it started with in FY2022. The bank showcased the steepest income growth among the five. Net interest income did most of the lifting, rising to S$54.3 million from S$36.6 million, while net fees and commission income climbed to S$2.9 million from S$1.1 million. GLDB has shared that it intends to continue investing in solutions that make banking simpler yet accessible for MSMEs in Singapore. The bank is considering a future IPO, which would be subject to market conditions and regulatory approvals. Featured image edited by Fintech News Singapore based on an image by tete_escape on Magnific The post GXS Bank Posts Heaviest Loss, Even As Loan Book Grew Three Times appeared first on Fintech Singapore.

Revolut has applied to open a bank branch in Finland for its more than 250,000 customers in the country. Kuba Fast, CEO of Revolut Bank EU, announced the application in a LinkedIn post. If approved, the branch would give Finnish customers access to local account numbers for salary payments and bill management. Fast said the move would also strengthen Revolut’s cooperation with Finnish authorities as the company expands its local presence. Tuomas Autero, Revolut’s Country Manager for Finland, leads the company’s operations in the market.     Featured image: Edited by Fintech News Switzerland, based on image by starmultikharisma via Magnific The post Revolut Seeks Approval for Finland Bank Branch appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Investors can grab sweet yields from hyperscaler bonds. Issuance has surged as the companies look to fund their artificial intelligence buildout.

Prediction markets’ public ledgers may turn suspected insider trading into a signal that other traders and bots can copy, according to new research into activity on Polymarket International.The nonprofit Anti-Corruption Data Collective said more than 150 wallets on the platform may have traded on inside US military information. The research focused on whether traders may have had non-public information and whether their activity was visible enough to attract copycat bets. ACDC analysed all settled Polymarket markets through May 5 and looked for “long-shot” bets. It defined those as wagers of at least $2,500 placed cumulatively within an hour on outcomes priced at 35% probability or lower. ACDC Found 556 “Orca” Wallets Within that set, ACDC identified 556 wallets it called “Orcas.” The group said these traders often opened accounts, quickly placed successful long-shot bets in niche markets where insiders may have an informational advantage, then in many cases cashed out and disappeared. Of those wallets, 152 were especially successful in military and defence markets. They made $8 million collectively and had an average win rate of 97.2%, according to the research. ACDC said the pattern may have other explanations, including luck. Moreover, and not every potential insider would fit the Orca profile. Gannon Ken Van Dyke, the US soldier charged in April over alleged Polymarket trading tied to classified information, built his position more slowly and was not among the 152 military Orcas identified. Orca trades attracted copycats. ACDC said some of them appeared to trigger bets from larger traders and automated bots. In one example, an Orca bet on US military action in Iran hours before June 2025 strikes was followed by copycat wagers of $200,000 and $100,000 from a bot and a large trader. ACDC co-founder David Szakonyi said unusual activity on Polymarket is more observable than many people assume because it is “all right there on the internet.”Platforms Move Controls Upstream Polymarket says its international platform settles trades on a blockchain, making wagers public while traders remain anonymous. The company claims it monitors suspicious activity and has referred dozens of trader wallets to authorities, including in the Maduro case. Other prediction market operators have started adding controls earlier in the trading process. Kalshi recently said it would collect employment information from traders seeking access to certain contracts that may be vulnerable to insider information or manipulation. The platform plans to use risk scoring to decide where additional controls are required. Kalshi has also extended Solidus Labs surveillance to its affiliated FCM, Kinetic Markets, and added Comply as an employee-trade monitoring integration for firms overseeing prediction market activity. US authorities have already brought the first insider trading case tied to prediction markets. In April, prosecutors charged Van Dyke with allegedly using classified intelligence to place Polymarket bets linked to Venezuela, earning about $409,881, Finance Magnates reported. ACDC is calling for mandatory identity verification for all traders and for payouts on suspicious trades to be withheld pending investigation. The group also argues that markets where non-public information may be most actionable and profitable should be banned, saying law enforcement and trader-type restrictions alone would not be enough. This article was written by Tanya Chepkova at www.financemagnates.com.

Der Bundesrat hat am 19. August 2026 beschlossen, sich den weiteren Massnahmen des 20. Sanktionspakets der Europäischen Union (EU) gegenüber Russland gemäss bisheriger Praxis anzuschliessen. Die neuen Massnahmen treten am 20. August 2026 in Kraft.

The FCA is warning consumers about the risks of investing in loan notes and mini-bonds issued by unregulated companies, after continuing to see people lose money in these high-risk investments. The recent failure of Woodville Consultants Ltd, a litigation funder that raised capital from retail investors through unregulated loan notes, shows the potential risk to investors.A loan note or mini-bond usually involves lending money to a company for a set period in return for interest. If that company fails, consumers could lose every penny.The FCA permanently banned the marketing of speculative illiquid securities, including mini-bonds and loan notes, to retail investors from 1 January 2021.But consumers may still come across adverts for loan notes and mini-bonds in everyday places, including social media, online adverts or websites promoting high fixed returns.The adverts can look simple and safe, but warning signs include pressure to act quickly, unclear explanations of how money could be lost, or claims that an investment is 'asset-backed' without clear evidence of what stands behind it. Examples of the practices the FCA sees include:Unregulated introducer firms passing consumers on to unregulated companies offering high-risk investments often taking a large fee, or commission, so reducing their initial investment.Consumers encouraged to certify themselves as experienced or wealthy investors to enable investments to be promoted to them.Firms promoting high-risk investments without the permission they need.Unclear fees or hidden conflicts, where those selling the investment may benefit from consumers investing.Scammers seeking to add ‘halo’ associations to infer legitimacy; whether that be listing on overseas exchanges, or highlighting an FCA regulated firm being involved in the wider administration.Using trust structures or other arrangements to try to stay outside FCA rules.Lucy Castledine, director of consumer investments at the FCA, said: 'Big, fixed returns are a warning sign, not a guarantee. Loan notes, mini-bonds and other speculative illiquid securities are high-risk investments and are not suitable for most people.'Ordinary retail investors should only invest through regulated firms because if they invest through an unauthorised firm, they may have little or no protection if things go wrong. We are working hard to prevent harm, but consumers should still stop and check before investing.'The FCA encourages anyone involved in distributing or funding high-risk investments to report anything suspicious. This includes regulated firms, banks, payment firms, lawyers, accountants and auditors who may be involved in getting these investments to consumers.The FCA has issued more than 1,200 warnings so far this year, told firms to stop unlawful promotions and referred cases to other law enforcement agencies where further action may be needed.But scams can be complex, fast-moving and hard to stop, especially when run from overseas or designed to avoid regulation. To address the harm, regulated firms like banks and payment providers, regulators, government and law enforcement need to continue to work together.Consumers need to be alert to the risk of harm and protect themselves using the tools available, like the FCA Firm Checker.Consumers can help too by reporting any concerns to the FCA if they see a suspicious investment or think they’ve been contacted by a fraudster or unauthorised firm.Notes to editorsIn its Perimeter Report, the FCA has called on the government to review the legislative exemptions that can mean certain high risk investments can be promoted outside FCA regulation.Investors in mini-bonds or loan notes are unlikely to be able to refer their complaints to the Financial Ombudsman Service or claim for losses through the Financial Services Compensation Scheme if things go wrong, unless they dealt with an authorised person and the complaint relates to a regulated activity.Since January 2026, a new regime regulating offers of securities to the public came into force. Read more information about what this regime means for consumers and what they should look out for.Robert Goodhew and Andrew Stoneman of Kroll Advisory were appointed as joint administrators of Woodville Consultants Limited on 16 July 2026. Enquiries should be made via woodville@kroll.com.