BNY, Huntington Bank, U.S. Bank, American Express, Visa, Mastercard, Stripe, and Coinbase are just a few of the companies that have signed on to use the dollar-backed stablecoin issued by technology firm Open Standard.
American Banker's BNPL Tradeoff Survey finds risk and regulatory fears are leading many banks and credit unions to hold off on offering the lending product.
-
Courts in Sweden told Google to pay price comparison website and Klarna subsidiary PriceRunner nearly $2 billion after the court found that Google favored its own price comparison service. PriceRunner initially sought more than $8 billion in damages.
-
As political pushback builds, Visa and Mastercard say they're folding the energy impacts of data centers into existing environmental policy.
-
The global payments platform, which recently expanded to the U.S., also plans to build new autonomous finance and agentic commerce products.
-
The bank is part of a trend of financial institutions trying to streamline a complicated industry that paper has dominated for years.
-
Speaking at the New York Federal Reserve's Innovation Conference on Friday, New York Department of Financial Services acting Superintendent Kaitlin Asrow said the regulator was interested in maintaining long-standing consumer protections as AI adoption increases.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- RegulationTuesday, ThursdayCoverage of the CFPB, Fed, FDIC, and Dodd-Frank.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
The real value of stablecoins lies in their ability to provide instant and secure transfers of value. But, in a world where every company has a bespoke stablecoin, that promise begins to break down quickly.
The risk facing U.S. banks is not that stablecoins will suddenly siphon deposits through yield alone. It is that deposits will gradually follow utility as financial experiences improve elsewhere.
Banks that don't embrace embedded payments now risk losing out to more nimble rivals in the near future.
-
Real-time payments are only one component, Umar Farooq said.
-
When a bank thinks of itself as a tech company, a new set of opportunities and challenges becomes clear.
-
-
Partner Insights from LexisNexis® Risk Solutions -
Partner Insights from Visa Direct -
Partner Insights from Alacriti -
Partner insights from Infosys
