JPMorgan claims its first major Open Banking victim: payments giant Visa 😳🏦; Gemini launches XRP credit card with Ripple 🪙💳

FinTech is Eating the World, 26 August

Hey Everyone,

Good morning & happy Tuesday! Today we’re looking into Visa which has just abandoned its open banking ambitions in the US (what it’s all about, what it means for Visa & what to expect next + bonus deep dive into Visa’s latest Q3 2025 financials & more reads inside), and IPO-ready Gemini that just launched an XRP credit card in partnership with Ripple (what’s the USP here and why it might actually make sense + bonus deep dive into Gemini’s S-1, and why their IPO is not convincing enough). So let’s just jump straight into the awesome stuff 🌶️

JPMorgan claims its first major Open Banking victim: payments giant Visa 😳🏦

The news 🗞️ Finance behemoth Visa V 0.00%↑ has just shuttered its open banking operations in the United States, marking a significant strategic retreat from a market increasingly characterized by regulatory uncertainty and mounting access fees.

The payments giant confirmed it is redirecting its open banking focus toward more promising international markets, particularly Europe and Latin America, where regulatory frameworks provide greater clarity and stability.

Let’s unpack this, understand why it matters, and what to expect next.