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Robinhood’s CEO has reportedly predicted a worldwide spread of real-world asset tokenization.
“Tokenization is like a freight train. It can’t be stopped, and eventually it’s going to eat the entire financial system,” Vlad Tenev told a panel at a cryptocurrency conference in Singapore on Wednesday (Oct. 1).
“I think most major markets will have some framework in the next five years,”...
Tariff risks and uncertainty have become systemic to businesses.
Over 2,000 publicly traded companies in the United States mentioned tariffs during their quarterly earnings calls this year, the most in recorded history, The Wall Street Journal reported. According to estimates from JPMorgan, the average effective tariff rate in the U.S. now stands at nearly 16%, up from 2.3% at the end...
When a consumer walks into a store or scrolls through an online catalog, a moment of hesitation often intervenes: “Do I buy it now, or risk lingering doubts about whether I can afford it later?”
Seamlessly embedding financing at the point of sale (POS) short-circuits that hesitation, making the transaction feel natural and reducing the mental friction between “I want it” and “I’ll do...
Two local commerce platforms are combining as DoorDash has completed its acquisition of Deliveroo.
The completion of the deal follows its approval by a U.K. court, DoorDash said in a Thursday (Oct. 2) press release.
“The combination with Deliveroo with strengthen DoorDash’s position as a global leader in local commerce, enabling the combined entity to better serve businesses, consumers...
Europe’s financial risk regulator wants stronger regulations governing “multi-issuer” stablecoins.
At its meeting Thursday (Oct. 2), the European Systemic Risk Board (ESRB) said there should be stricter guidelines covering these coins, which are issued partly in the European Union and partly in other jurisdictions, according to a Thursday press release.
“[T]he general board stressed...
Digital financial services firm SoFi has announced a new expansion to its investing offering.
Options Level 1 has begun rolling out to SoFi Invest members, and will become available to all eligible members in the weeks ahead, the company announced Thursday (Oct. 2).
“One of the most consistent requests we heard from SoFi Invest members was access to Options Level 1 and we’re thrilled...
OpenAI has reportedly become the world’s most valuable startup following a share sale.
The artificial intelligence (AI) company allowed current and former employees to sell roughly $6.6 billion in shares, the Financial Times (FT) reported Tuesday (Oct. 2), citing a person close to the company.
That deal values OpenAI at $500 billion, ahead of SpaceX, which achieved a $400 billion...
Synchrony has acquired consumer financing software provider Versatile Credit.
The deal gives Synchrony access to the Versatile platform, which connects merchants, lenders and consumers via point-of-sale solutions, the company said Wednesday (Oct. 1).
“Synchrony intends to maintain Versatile’s business strategy, management structure and data integrity, serving numerous other lenders as...
Watch more: Need to Know
Merchants selling to customers across time zones are no longer willing to wait days for their money. As Ed Dean, vice president of product at Nuvei, put it, “In payments, we’ve grown up in a batch-based system, and it’s worked, but as technology advances, we can do better.”
For merchants large and small, that “better” means real time settlement — funds that can...
Watch more: Need to Know
Insurance is often defined by its pain points: accidents, losses, disruptions and the frustration that comes with filing and settling claims. For policyholders, friction begins with paperwork, documentation and back-and-forth with adjusters.
Yet the most defining moment comes at the end — when the payout arrives. The speed, ease and flexibility of that payment...