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The paydowns earlier this year were temporary. And as the latest consumer credit data from the Federal Reserve on Friday (June 6) indicated, consumers turned to credit as a way to pay for goods and services, in an April rush that indicates they sped up purchases as tariffs took effect that same month.
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The G19 report from the Fed indicated that the aggregate tally of...
Deutsche Bank is reportedly considering expanding its efforts in the digital asset industry as countries adopt regulations for the sector.
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The bank is looking at stablecoins, including issuing its own or joining an industrywide project, and at a tokenized deposit solution that it would develop itself, Bloomberg reported Friday (June 6), citing its interview with Sabih...
Not long ago, the term stablecoin lived mostly in crypto chatrooms and blockchain white papers. Today, it’s increasingly being discussed at financial summits, boardrooms of global tech giants and even in the halls of the U.S. Congress.
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In the arc of the blockchain sector’s maturation, if bitcoin was the rebel in a hoodie, stablecoins are the FinTech pros in tailored...
OpenAI has unveiled two new business features for ChatGPT in its latest push to deepen enterprise adoption and challenge Microsoft and Google’s office productivity products.
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The first is called “Connectors,” and it lets ChatGPT connect to different apps used by office workers, including Gmail, Outlook, Google Drive, Teams, Dropbox, GitHub, HubSpot, SharePoint and more...
Two days after being confirmed to be the Federal Reserve’s vice chair for supervision, Michelle Bowman said she aims to “refocus supervisory and regulatory efforts on the core financial risks most critical to maintaining a healthy and resilient banking system.”
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In a speech delivered Friday (June 6) at Georgetown University in Washington, D.C., Bowman, who has been a...
OpenAI has appealed a court order that requires it to retain consumer ChatGPT and API data indefinitely, saying the order conflicts with its privacy commitments.
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The order came in response to a demand from The New York Times and other plaintiffs in a lawsuit they brought against the artificial intelligence (AI) company, because they believe the data might support their...
Kargo raised $18.4 million to develop new artificial intelligence (AI)-powered products that connect supply chain data to help with inventory management.
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The company currently offers Kargo Towers and Kargo Lifts, which are integrated hardware and software solutions that are installed at warehouse loading docks or gateways and use AI-powered cameras to gather information...
This week in artificial intelligence (AI) news, Intuit in introducing AI agents for its enterprise clients, while voice AI startups drew in an eightfold increase in investments last year compared to 2023. AI pioneer Yoshua Bengio launched an AI safety nonprofit, and AI coding tools are supercharging small- to medium-sized businesses (SMBs).
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Intuit Accelerates Roll out...
HSBC became a strategic investor in Token.io to help accelerate the growth of Token.io’s pay-by-bank infrastructure.
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The move extends a collaboration in which Token.io has powered the HSBC Open Payments solution since 2019, the companies said in a Wednesday (June 4) press release.
Token.io also secured additional funding from most of its existing investors, according to...
The most visible sign this week of enthusiasm for FinTechs — call it a form of financial enthusiasm, perhaps — was, arguably, the stratospheric rise of Circle shares in their debut on the public markets on Thursday (June 5).
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Circle shares soared from the initial offering price, we wrote in coverage of a remarkable first day that ended with a 168% gain. Beyond the eye-...