Fintech Rundown (13/04) - HSBC, Standard Chartered, Plaid, Kraken

The Hong Kong Monetary Authority (HKMA) has granted its first-ever stablecoin issuer licenses to HSBC and Anchorpoint Financial. This marks a major milestone under the city's new Stablecoins Ordinance that took effect in August 2025. Unlike many existing global stablecoins, these new HKD-pegged tokens will operate under strict regulatory guardrails, including high-quality reserve requirements and one-day redemption mandates.

Perplexity has expanded its "Computer" AI agent into a comprehensive personal finance assistant. By integrating with the Plaid network, the platform now allows users to securely link bank accounts, credit cards, mortgages, and loans, creating a centralized dashboard for their entire financial life.The integration is strictly read-only, meaning Perplexity cannot move money and sensitive data stays off its servers.

On March 4, 2026, Kraken became the first crypto-native bank in U.S. history to secure a Federal Reserve "master account." The move has sparked intense pushback from traditional financial groups like the Bank Policy Institute and Representative Maxine Waters. Critics argue the approval was "opaque" and creates systemic risk by allowing a lightly regulated, non-federally insured crypto firm to "free-ride" on the Fed's infrastructure, potentially setting a dangerous precedent for the broader financial system.

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