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Yunfeng Financial Group, a Hong Kong-based provider of brokerage, asset management, insurance and FinTech services that is linked to Jack Ma, disclosed Tuesday (Sept. 2) that it invested $44 million to acquire 10,000 ether (ETH) as reserve assets.
“The ETH are accounted for as investments in the financial statements of the Group,” the firm said in a Tuesday voluntary announcement. “The...
The Federal Reserve is holding a conference in October focused on payment system improvements.
The conference, scheduled for Oct. 21, will explore several aspects of payments innovation, including the intersection of traditional and decentralized finance and the convergence of artificial intelligence (AI) and payments, the central bank announced Wednesday (Sept. 3).
“Innovation has...
Aeon now enables Brazilian users to pay with cryptocurrency assets while merchants receive Brazilian Real via the nation’s instant payment network, Pix.
The capability is powered by the company’s new Scan-to-Pay feature that it added to its Web3 mobile payment solution, Aeon Pay, in Brazil, according to a Wednesday (Sept. 3) press release.
The integration allows Brazilian users to pay...
Fitness hardware brand Polar has introduced a screen-free, subscription-free fitness band.
The Finnish company on Wednesday (Sept. 3) debuted its Polar Loop, which tracks activity, sleep and other health metrics.
“There’s growing demand for more discreet, screenless experiences that fit seamlessly into everyday life,” Polar CEO Sander Werring said in a news release. “This trend has...
Digital identity wallet ID.me raised $340 million across Series E financing, announced Wednesday (Sept. 3), and a credit facility, announced earlier.
The latest financing values that company at over $2 billion, it said in a Wednesday press release.
That valuation is up from the $1.8 billion at which ID.me was valued in November.
ID.me said in the Wednesday release that it will use the...
Artificial intelligence (AI) startup You.com has reportedly raised $100 million in new funding.
The company’s latest funding round values it at $1.5 billion, and is happening amid its ongoing shift from consumer search to more general AI services, Bloomberg News reported Wednesday (Sept. 3).
The company was founded in 2020 as an AI-powered search engine by Richard Socher, who had been...
OpenAI Chief Product Officer Kevin Weil is taking on a new role inside the company that goes beyond product development: He is learning to be an AI researcher while building an internal group, “OpenAI for Science.”
The move comes as former Instacart CEO Fidji Simo assumes responsibility for the startup’s public-facing products as OpenAI’s new CEO of applications. She started at OpenAI...
Weak jobs data released Wednesday (Sept. 3) may make it harder for households living paycheck to paycheck to escape the pressures of their current financial situations.
New jobs promise new income, usually a salary or per-hour bump, as wages overall have been on the rise.
Coming into 2025, PYMNTS Intelligence found that 38% of individuals said they anticipated switching jobs this year...
Digital finance app SoFi has introduced its SoFi Agentic AI exchange-traded fund (ETF).
The ETF, dubbed AGIQ, will invest in American companies that are part of the BITA US Agentic AI Select Index, SoFi announced Wednesday (Sept. 3).
“Emerging market themes can be challenging to capture, especially for new or casual investors—but with the SoFi Agentic AI ETF, investors can easily tap...
Stripe said in comments submitted to the Consumer Financial Protection Bureau (CFPB) that while the regulator finalizes its revisions to the open banking rule, Rule 1033, it should ensure that banks do not “unlawfully charge access fees” for connecting consumers’ bank accounts to the financial products of their choice.
Bloomberg flagged Stripe’s comments Tuesday (Sept. 2), reporting...