The Monday Roundup: what we are watching this week | August 17th

By Puja Sharma

The Monday Roundup sets the scene for the week’s biggest news stories, industry deals, and upcoming events. For Prime subscribers only.

The rise of agentic commerce

Thunes has expanded its stablecoin capabilities by enabling eligible members of its Direct Global Network to use the euro-backed EURC stablecoin for round-the-clock transaction funding.

The new service has enabled network members to manage treasury flows outside traditional banking hours, including weekends and public holidays. EURC funding has been made available across Ethereum, Solana, Base and Stellar.

Issued by a regulated Circle affiliate, EURC has been designed to maintain a 1:1 value with the euro and comply with the European Union’s Markets in Crypto-Assets (MiCA) framework. The launch has expanded Thunes’ existing relationship with Circle, which has already included USDC-powered liquidity on the network since 2024.

The launch has highlighted the growing use of stablecoins for treasury management and cross-border payment operations, as financial technology providers have sought alternatives to conventional banking rails for moving and funding value around the clock. Thunes has positioned EURC funding as part of its broader strategy to connect traditional fiat payments with digital assets while providing network members with faster and more flexible liquidity management.

PPRO has partnered with Polish payment scheme BLIK to develop agentic commerce capabilities for local payments, as the companies have sought to connect local payment methods with emerging AI-driven commerce.

The collaboration has focused on enabling BLIK to support agent-initiated transactions in Poland, with PPRO providing the infrastructure connecting local payment schemes, merchants and payment service providers to emerging agentic commerce ecosystems.

PPRO has said agentic commerce has been expected to become a significant area of digital commerce, with AI agents projected to account for up to 15% of European e-commerce spending by 2030. The company has also highlighted the importance of local payment methods, particularly in markets where cards are not the dominant option. In Poland, BLIK has accounted for around 71% of e-commerce transactions, according to data cited by PPRO. The companies have said the initiative has therefore sought to ensure consumers can continue using a payment method familiar to them as AI agents become more involved in online purchases.

A $700m Overseas Bonds

Bank of Baroda has raised $700 million through a dual-tranche overseas bond issuance, as the Indian lender has sought to diversify its funding base and support its longer-term growth plans.

The issuance has comprised $400m of three-year senior unsecured fixed-rate notes and $300 million of five-year notes under the bank’s $4 billion Medium-Term Note Programme. The bonds have been issued through Bank of Baroda’s International Financial Services Centre Banking Unit at GIFT City.

The offering has attracted strong investor demand, with the order book reaching $2.67 billion, equivalent to almost 3.8 times the final issue size. The three-year tranche has carried a coupon of 5.114%, representing a spread of 90 basis points over the three-year US Treasury rate. The five-year tranche has carried a 5.318% coupon, with a 100-basis-point spread over the five-year US Treasury rate.

Strong demand has enabled the bank to tighten pricing from its initial guidance of 120 basis points for the three-year notes and 130 basis points for the five-year notes. Bank of Baroda has said the transaction has achieved its tightest-ever spread over US Treasury rates for one of its bond issuances.

Cleversoft has agreed to acquire UK-based regulatory reporting specialist FS Assist, as the RegTech provider has sought to expand its supervisory reporting business and strengthen its presence in the UK insurance market.

The definitive agreement has been signed with the transaction expected to close later this month, subject to customary closing conditions. Financial terms have not been disclosed.

FS Assist has developed regulatory reporting software for insurers and pension providers, with its solutions used by approximately 350 insurance companies across the UK and Europe. Its offering has included reporting tools covering Solvency II, IORP and Lloyd’s syndicate requirements.

Cleversoft has said the acquisition will strengthen its Supervisory Reporting business and enable FS Assist customers to access a broader portfolio covering financial crime prevention, financial messaging and digital compliance.

What’s the Buzz

Bank of America is set to invest up to ₹18,268 crore (approximately $1.9 billion) in Jio Credit, the digital lending subsidiary of Jio Financial Services, through a joint venture arrangement. The US bank will initially acquire a 26.5% stake via a preferential allotment of shares and warrants, with the option to raise its holding to 49.9% if all warrants are exercised. The transaction remains subject to regulatory approvals, and once completed, both partners will have equal representation on Jio Credit’s board, underscoring a shared governance structure.

For India’s financial services industry, the deal highlights the growing attractiveness of the country’s digital lending market to global financial institutions. By combining Bank of America’s international banking expertise, risk management capabilities and access to capital with Jio’s vast digital ecosystem and customer reach, the partnership could accelerate the development of technology-driven lending products. It also signals increasing confidence among foreign investors in India’s rapidly expanding FinTech sector.

The transaction is likely to intensify competition in the digital lending space, putting pressure on banks, non-bank lenders and FinTech companies to strengthen their digital capabilities and customer acquisition strategies. The partnership may also encourage further collaborations between global financial firms and Indian technology-led financial services companies, potentially driving innovation, broader credit access and greater financial inclusion across the country.