Business briefing — October 22, 2026.

US OCC finalizes federal rules for payment stablecoin issuers

The Office of the Comptroller of the Currency finalized rules covering reserves, redemptions, custody, risk management and reporting for payment stablecoin issuers under its jurisdiction. The regulations take effect January 18, 2027; anti-money-laundering and sanctions requirements remain subject to separate rulemaking, and the OCC has not yet opened issuer applications.

What changed The final rules dropped a proposed presumption against certain third-party rewards, while retaining restrictions on issuers paying yield merely for holding or using stablecoins.

Why it matters For holders of qualifying stablecoins, reserve backing and a generally two-business-day redemption requirement establish concrete standards for getting their money back.

What to watch next The OCC will announce its application timetable separately; publication of the rules does not itself authorize issuers.

IG seeks UK betting licence for planned prediction-market launch

IG Group has applied for a Gambling Commission licence through subsidiary IG View to offer betting on real-world events, including politics, entertainment and sports, and says it expects a launch in early 2027. Its register entry is pending, so no licence has been granted. The company plans to offer financial-event contracts to UK professional clients in the fourth quarter.

What changed The application marks a proposed return to betting after IG sold its Extrabet customer base in 2011.

Why it matters UK retail customers cannot access financial-outcome contracts through this expansion: those remain banned for retail investors, while sports and political bets fall under a different regulator.

What to watch next The unresolved step is Gambling Commission approval. Early 2027 is IG’s expected opening window, not a confirmed licensed launch.

Robinhood wins Dubai authorization ahead of planned 2027 regional launch

Robinhood says the Dubai Financial Services Authority has authorized it to offer trading and custody across the 10 asset classes permitted by the regulator, including equities, crypto, ETFs and investment tokens. The company plans to launch in 2027 and establish its Middle East headquarters in the Dubai International Financial Centre.

Why it matters Robinhood’s authorization supports a multi-asset regional offering rather than a crypto-only entry, covering both trading and custody. Customer access still awaits the planned launch.

What to watch next Robinhood plans to launch in 2027; the report provides no more precise opening date.

AJ Bell adds 152,000 customers as platform inflows rise

AJ Bell added 152,000 customers in the year to September 30, bringing its total to 796,000, while platform net inflows climbed 37% to £9.7 billion and assets under administration reached £126 billion. Direct-to-consumer customers rose 30% to 602,000. The report also notes trading brokers including IG, XTB and CMC expanding their UK investing offers.

What changed Platform net inflows increased 37%, while assets under administration rose 22% to a record £126 billion.

Why it matters AJ Bell’s customer-growth story should not obscure its asset mix: the slower-growing advised channel still holds more money than the self-directed business, making it central to the platform’s asset base.

What to watch next Full-year results are scheduled for December 3.

NAGA’s quarterly EBITDA drops 40% as marketing spending increases

NAGA Group reported third-quarter EBITDA of €1.35 million, down 40% from the second quarter, as marketing spending increased 32% ahead of a planned app launch. Revenue fell to €12.7 million from €13.3 million, while the company identified NAGA One—a planned app combining trading, investing, crypto and payments—as its main fourth-quarter priority. NAGA did not repeat its 2026 revenue and EBITDA guidance in the quarterly release.

What changed Higher marketing spending coincided with a narrower EBITDA margin—10.6%, against 16.8% in the second quarter—even as net revenue increased slightly.

Why it matters For shareholders assessing the previously stated annual targets, the remaining hurdle is substantial: fourth-quarter revenue would need to exceed twice the third-quarter level.

What to watch next NAGA identifies the NAGA One launch as its main fourth-quarter priority, alongside expanding crypto and social-trading features.

Micron Taoyuan union begins one-day strike; production impact remains unclear

A union at Micron’s Taoyuan DRAM facility began a 24-hour strike over a demand for a profit-sharing system tied to 15% of operating profit. Taiwan’s Central News Agency reported 11 union officials participating at the start, and the report said there was no confirmed production disruption. Micron reached a separate agreement with its larger Taichung union on October 21.

What changed The Taoyuan dispute moved from unsuccessful Wednesday talks to a 24-hour strike on Thursday morning; the initial reported participation was limited to 11 union officials.

Why it matters For Micron and its Taiwan employees, the dispute concerns recurring compensation obligations rather than simply a larger one-off payment: the union wants a lasting share of operating profit.

What to watch next The union will poll members on Micron’s proposal before deciding its next step; further industrial action is not confirmed.

China seeks confiscation of 61,896 bitcoin tied to investment fraud

Chinese prosecutors are seeking confiscation of about 61,896 bitcoin linked to a fraud that affected more than 128,000 investors. British authorities currently control the seized bitcoin, and a Chinese confiscation order would not automatically transfer it from UK custody. The assets’ ultimate ownership and distribution remain unresolved amid UK proceedings and investor appeals.

Why it matters For defrauded investors, proving ownership rather than merely a compensation claim could materially change recoveries beyond repayment of their original losses.

What to watch next Further proceedings are expected to address ownership and recovery rights; who ultimately receives the bitcoin remains an open question.