OpenAI Taps Into Crypto, Walmart Doubles Down On Bitcoin & More

Welcome back!

This is J264G and this week I’ve got these titbits for you:

• Consumer Apps: OpenAI acquired Roi, a personal finance app powered by AI. 

• Retail Distribution: Walmart’s OnePay to roll out crypto trading and custody.

• Prediction Markets: Robinhood to go global with prediction markets.

Call crypto a gimmick, but it’s now embedded and minting profits.

Now, let’s jump right into this week’s newsletter!

Click on any underlined heading/hyperlink to learn more.

Spotlight

Reset Button

For decades, banks have operated in extraordinary comfort.

We deposit our money, and they effectively take ownership—reaping the lion’s share of returns while offering only meagre interest. All the while, service quality remains dismal: clunky interfaces, surprise fees, and payments that take days to clear. Yet governments shield this status quo with taxpayer-backed deposit insurance and bail-outs when banks’ gambles go wrong, making it a cosy, state-supported set-up that any monopolist would envy.

Now envision a world in which we are no longer at the mercy of banking behemoths. Three emerging developments suggest that this future is approaching rapidly. First, the rise of self custody that enables people to hold and manage their own funds directly, in effect letting them be their own bank. Second, stablecoins that provide the convenience of digital money without requiring a bank account at all. Third, onchain privacy that promises to restore something we lost with the decline of cash: the right to spend our money without every transaction being monitored.

Incumbents insist that if deposits drain away en masse into these new avenues, the economy could suffer: banks would have less money to lend, credit could tighten, and borrowing costs might rise. Regulators echo these worries, cautioning that a mishandled transition could undermine financial stability.

Granted, the world is not yet fully prepared for a financial system without banks at the core. Yet, these valid concerns should not obscure the historic opportunity at hand. For the first time in generations, we have real leverage to demand better banking services. If millions choose to self custody their savings, sidestep extractive fees, and earn higher yields through decentralised finance, banks will be forced to compete and offer genuine value—or risk irrelevance. 

The reset button has been pushed.

Crypto is rewiring the financial operating system, and banks' privilege of profiting by default is coming to an end.

Numbers Of The Week

News Bites

Money Movements: Brex has announced it will support stablecoin transactions on its platform. Users will be able to send and receive USDC for payments and disbursements—powered by Solana. The bigger picture: Brex, which counts more than 30,000 clients including Anthropic, DoorDash, and TikTok, could give Solana’s stablecoin ecosystem a material lift in the months to come.

Finance Platform: Phantom has unveiled Phantom Cash, an all-in-one money account aimed at transforming the wallet provider into a global, crypto-first finance platform. The stablecoin-focused product will support instant funding, direct/cheque deposits, peer-to-peer transfers, and virtual debit cards—with Stripe (Bridge) providing the underlying infrastructure.

Programmable Money: Stripe is reportedly preparing to apply for a federal banking charter as it expands its stablecoin ambitions. Central to the company’s plans is a new product, Open Issuance, that enables businesses to launch and manage their own stablecoins with minimal technical effort.

Consumer Apps: OpenAI has acquired Roi, a personal finance app powered by AI. Roi consolidates a user’s financial information across equities, real estate, and crypto, providing insights and trading recommendations. For OpenAI, the move signals a deeper push into consumer-facing applications with direct revenue potential.

Prediction Markets: Robinhood is exploring an international expansion of its prediction markets product as interest in the sector rises. Regulation remains the central challenge: in the US, prediction markets are classed as futures, while in many other jurisdictions they are still treated as gambling.

Retail Distribution: OnePay, the fintech majority-owned by Walmart, is preparing to roll out crypto trading and custody services. OnePay is integrated into both the offline and online checkout process at Walmart’s US locations, giving it access to the 150 million Americans who shop there every week.

Servus, Deutschland! Deutsche Börse and Circle have signed a memorandum of understanding to integrate stablecoins into European market infrastructure. The agreement covers both EURC and USDC and marks the first collaboration of its kind in Europe.

Solana ETF: Grayscale has introduced staking to its Solana Spot ETF (GSOL), enabling investors to access SOL staking rewards through conventional brokerage accounts for the first time—pending regulatory approval, of course.

Perpetual Trading: CME Group will expand its cryptocurrency offering by shifting futures and options to continuous trading in early 2026, a move likely to intensify competition with perpetual futures exchanges. In addition, the CME Group will introduce options on Solana futures on October 16.

Caught In 4K

Weekly Take

Keks & Giggles

And that's a wrap!

You can reach me anytime over on 𝕏 or drop me a line. 

Talk soon!

J264G

_{DISCLAIMER
None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. Lastly, please be advised that we discuss products and services from our partners from which our team members may hold tokens/equity.}