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Does the U.S. consumer have a potential stablecoin problem?
Rohit Chopra, who was the third director of the Consumer Financial Protection Bureau (CFPB) and previous member of the Federal Trade Commission (FTC), hinted that they just might during a keynote at Stablecon on Thursday (May 29).
Stablecoins have emerged as a potential disruptor to the traditional banking system, and that emergence...
Mastercard has launched a suite of digital tools, data and educational resources designed for small- to medium-sized businesses (SMBs) in the U.S.
The company’s Small Business Navigator program offers small businesses “real, actionable support,” Ginger Siegel, head of small business in the U.S. at Mastercard, said in a Thursday (May 29) press release.
“With Small Business Navigator, we’re...
House Financial Services Committee Chairman French Hill of Arkansas introduced a bill Thursday (May 29) that would establish a regulatory framework for digital assets in the United States.
The Digital Asset Market Clarity (CLARITY) Act is co-sponsored by eight other members of Congress — five Republicans and three Democrats, according to the committee’s Thursday press release.
“Our bill brings...
Despite its customers’ resilience, Best Buy expects sales to dip this year because of tariffs.
The electronics retailer released quarterly earnings Thursday (May 29), projecting yearly revenue of $41.1 billion to $41.9 billion, below past guidance of $41.4 billion to $42.2 billion.
Best Buy has warned that its vendors could pass along higher costs to the chain, which would mean raising prices....
The trade war sparked by new U.S. tariffs has reportedly cost companies over $34 billion in lost sales and higher costs.
Reuters made that estimate in a report posted Thursday (May 29), saying it got that figure from estimates made by 32 companies whose stocks are listed in the U.S., three listed in Europe and 21 listed in Japan and shared in company statements, regulatory filings, and conference...
Apple’s App Store in the United States facilitated $406 billion in developer billings and sales last year.
The findings are the results of a study by Professor Andrey Fradkin from Boston University Questrom School of Business and economist Dr. Jessica Burley from Analysis Group, according to a Thursday (May 29) press release.
“Importantly, for more than 90% of the billings and sales facilitated...
Banco Santander SA is reportedly considering offering a stablecoin and providing its digital bank’s retail clients with access to cryptocurrencies.
The Spanish bank’s online banking unit, Openbank, has applied for licenses to offer these services under the European Union’s Markets in Crypto-Assets (MiCA) regulation, Bloomberg reported Thursday (May 29), citing unnamed sources.
Santander did not...
Enterprise resource planning (ERP) firm Acumatica is set to be acquired by Vista Equity Partners.
“Our partnership with Vista not only marks a significant milestone in Acumatica’s history but also is a strong endorsement of the real-world value we deliver to the market and our customers,” John Case, CEO of Acumatica, said in a Thursday (May 29) news release. “Vista’s investment can help power our...
Teachers Federal Credit Union, one of the largest U.S. credit unions with more than $9.7 billion in assets and over 460,000 members, is using artificial intelligence (AI) and automation to modernize the way it does business.
The credit union has automated processes across 16 business functions, leading to improvements in efficiency, scalability and member experience, with the support of SS...
Goldman Sachs President and Chief Operating Officer John Waldron said he is confident in the bank’s dealmaking pipeline despite tariff-related uncertainty.
“Our investment banking business is very strong, and I think the outlook remains quite good,” said Waldron, whose comments to investors at a conference Thursday (May 29) were reported by Reuters. “The pipeline is strong all over the world …...