BNPL lender Klarna officially revived its highly anticipated IPO, and cryptocurrency exchange Gemini also announced plans for a public offering. The offerings follow Chime and Circle's blockbuster IPOs in June.

Noelle Acheson points out that, while banks are unlikely to issue stablecoins, the related businesses they are likely to end up offering could set the stage for a transformation of their relationship with their clients.

By using a public blockchain, a potential digital euro could be made more widely available. Plus, Klarna expands its merchant reach as it resurrects plans for an IPO, Binance faces an audit and more in the American Banker global payments and fintech roundup.

As stablecoins gain broader adoption in the U.S., they will eat into banks' deposits. As a result, lending in the U.S. may be increasingly funded by the wholesale capital markets.

Federal Reserve Vice Chair for Supervision Michelle Bowman floated the idea of allowing employees to hold small amounts of digital currencies, arguing that it would help with retention and understanding of the product. But some questions whether the move will yield those results, or raise ethical problems instead.

FRNT is designed to streamline government disbursements while acting as a lure for digital financial services firms.

The Office of the Comptroller of the Currency Thursday terminated a 2022 enforcement order against Anchorage Digital, the first federally regulated crypto bank, at a time when fintechs and crypto firms are increasingly seeking national trust charters.