In conversations about small-business banking, ChatGPT, Gemini and Perplexity recommended Mercury far more often than licensed financial institutions. 

The bank was determined, by multiple industry rankings and experts, to be the best mobile banking provider in the U.S.. Bank of America took second place.

The move came 12 days after Canada's bank regulator said tokenized deposits are not legally distinct from ordinary deposits.

The federal banking regulator issued conditional approvals for national trust bank charters for Bastion Platforms, Agora and Catena Labs on the same day.