Technology

In this week's American Banker global payments and fintech roundup, Revolut, Tether and Circle made announcements designed to improve their standing in the stablecoin market. That comes amid new research from McKinsey that says the digital asset is growing quickly, but has not made even a small dent in payments.

Cybersecurity stocks tumbled after Anthropic unveiled a new vulnerability scanner, prompting vendors to defend their runtime protection platforms.

The stock exchange is using the artificial intelligence extensively throughout the organization, including in development of a distributed ledger for tokenized securities.

Andrew Torre, the card network's president of Value-Added Services, said demand for security, agentic commerce and better processing are creating demand for technology and consulting.

Stripe, which is closely held and is among the industry's most valuable companies, has expressed preliminary interest in a potential acquisition of the digital payments pioneer or its assets.

If the company gets final approval, it will be the newest crypto firm to receive a charter in recent months.

The payments firm wants to issue a stablecoin called PAYO-USD, joining a wave of digital asset companies seeking federal bank charters.

Federal Reserve Gov. Lisa Cook said AI could boost productivity, but warned the transition may raise unemployment and force difficult tradeoffs between inflation and jobs.

In tests, generative AI models gave different answers to questions about banks, and those answers changed as users added new prompts.

Showing up for clients is still crucial, but using AI to deliver on financial goals matters more, says Altruist's CEO.