Fintech Rundown (4/02) - Stripe, PayPal

Stripe’s stablecoin push is facing early scrutiny. Its recently acquired crypto startup, Bridge, has been linked to transactions allegedly involving online scams and, in some cases, sanctioned entities, according to The Information. The activity has triggered additional compliance attention as Stripe integrates Bridge into its broader payments stack.

Next up, a White House–hosted meeting aimed at breaking the deadlock between major U.S. banks and crypto firms ended without agreement. The stalemate centers on whether upcoming crypto market structure legislation should prohibit interest or reward payments on stablecoins. Banks are pushing for a ban.But crypto firms argue rewards are essential for user acquisition and that banning them would be anti-competitive.

And finally, PayPal said Chief Executive Officer Alex Chriss will be replaced by HP CEO Enrique Lores as the firm reported profit and revenue that fell short of expectations.

The firm's fourth-quarter earnings fell short of expectations, with weakness in US retail spending and headwinds internationally, and growth in PayPal-branded online checkouts slowed to 1%.

Shares of the firm tumbled more than 12% after the announcement, with fourth-quarter earnings per share of $1.23 and total revenue of $8.68 billion missing analysts’ estimates.

That’s your fintech rundown. Stay tuned for more updates