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The China-backed cross-border payments platform Project mBridge is reportedly set to erode the dominance of the dollar in some corridors, sectors and use cases.
The platform has processed 4,047 transactions with a total transaction volume of $55.49 billion as of November, the Atlantic Council said in a Thursday (Jan. 15) blog post.
Those figures are up from the 160 transactions with a...
White House National Economic Council Director Kevin Hassett said Friday (Jan. 16) that he expects big banks to offer “great new Trump cards.”
Speaking on Fox Business, and asked about President Donald Trump’s proposed 10% credit card rate cap, Hassett said that the ideas come up in White House conversations with bank CEOs.
“We’ve been in conversations with the big banks, with CEOs of...
Stablecoins are no longer knocking on the door of mainstream finance.
As the headlines this week underscore, they are already inside and trying to rearrange the furniture.
The evidence is not subtle. Payment networks are integrating stablecoins into settlement layers while regulators and industry stakeholders are debating their yield characteristics with the seriousness once reserved...
Tokenization, and specifically, tokenized deposits, has seen growth in concrete use cases inside the banking system.
Rather than replacing deposits or payment rails, banks are exploring tokenized deposits as a way to represent existing balances on distributed ledger infrastructure, with the goal of improving settlement timing, transparency and operational efficiency.
That focus...
GameStop plans to close more than 430 stores across the United States this month, The Verge reported Sunday (Jan. 11).
The retailer’s fiscal year 2025 will end on Jan. 31, and the firm said in a Dec. 9 filing with the Securities and Exchange Commission that it expects to close “a significant number of additional stores in fiscal 2025.”
As of February, GameStop operated 2,325 stores in...
As financial services firms push deeper into digital channels, identity verification has quietly become one of the most consequential—and most underestimated—forces shaping growth, risk and customer experience. “When ‘Good Enough’ Isn’t Enough: Digital Identity Verification in the Age of Bots and Agents,” a collaboration between PYMNTS Intelligence and Trulioo, examines how legacy approaches to...
A growing share of Americans look financially stable on paper yet remain one unexpected bill away from strain, according to PYMNTS Intelligence research that reframed household savings as a fragile, unevenly distributed buffer rather than a reliable safety net.
That was the central takeaway from “Why Paycheck-to-Paycheck Consumers Can’t Weather a $2,000 Shock,” the September...
President Donald Trump is set to unveil an emergency plan Friday (Jan. 16) that would make data center owners, not households, cover the cost of new power plants as electricity demand surges.
The proposal lands as AI-driven data center construction accelerates in the PJM (Pennsylvania-New Jersey-Maryland) transmission region, a key hub for cloud infrastructure that underpins payments...
Goldman Sachs is looking into how it might get involved in prediction markets, Chairman and CEO David Solomon said Thursday (Jan. 15).
Asked about this and other innovations by an analyst during the company’s earnings call, Solomon said that prediction markets are “super interesting,” that he met with the leaders of two big companies in that space over the last two weeks to learn more...
Efforts are reportedly under way to restart the movement of the crypto markets bill that stalled in the Senate on Wednesday (Jan. 14).
Coinbase CEO Brian Armstrong, who withdrew the cryptocurrency exchange’s support for the Senate Banking Committee’s draft of the bill hours before the committee postponed its scheduled markup of the bill, reportedly met in person with lawmakers at the...