Stablecoins sit at the center of the crypto sector’s goals for a return to form. That’s because stablecoin digital assets, which are designed to maintain a stable value by being pegged to a reserve asset such as a fiat currency (e.g., USD) or commodity (e.g., gold), aim to provide the benefits of cryptocurrencies — such
Digital asset marketplace Bakkt is reportedly considering putting itself up for sale. That’s according to a Friday (June 7) report from Bloomberg News, citing sources familiar with the matter. Those sources said Bakkt — which has a market value of around $300 million as of Friday — had been working with a financial adviser to
Over the years, PYMNTS Intelligence research reveals, fewer and fewer consumers find themselves with savings enough to fall back on, and they are adjusting their spending habits accordingly. By the Numbers “The Nonessential Spending Deep Dive Edition” of PYMNTS Intelligence’s New Reality Check: The Paycheck-To-Paycheck Report tracked consumers’ financial lifestyles from year to year. As
The Treasury Department is seeking comments from the public about the use of artificial intelligence (AI) in the financial services sector. The agency released a request for information on Thursday (June 6) and said it encourages the submission of comments within 60 days, according to a Thursday press release. The request for information encompasses “uses,
Cryptocurrency exchange Kraken is reportedly considering seeking more than $100 million in a final funding round before launching a possible initial public offering (IPO). The company has received inquiries from potential investors amid the current rally in the digital asset market, Bloomberg reported Thursday (June 6), citing unnamed sources. While declining to comment specifically on
Most consumers get their insurance from various providers, but data shows that consumers want to simplify the process. PYMNTS Intelligence finds that 44% of all consumers would turn to their financial institutions (FIs) for these needs. Younger consumers are particularly keen on shopping for these services from a FI. For example, Generation Z consumers are
Rising investment income, high household wealth and strong employment rates are keeping Americans spending. It’s a phenomenon chronicled Wednesday (June 5) in a report by The Wall Street Journal (WSJ), which notes that the changing economy is placing “unprecedented” amounts of money into consumers’ wallets, driving asset values to records and helping high earners avoid inflation. The
Small business banking platform Rapid Finance has introduced updates to its fraud detection platform Lynx. The platform now has a cloud-based rules engine that lets the company’s enterprise customers create customized risk management rules and outcomes, letting them make informed lending decisions tailored to specific criteria for small- to medium-sized businesses (SMBs). “The cloud-based rules
The Small Business Administration (SBA) reportedly plans to launch a working capital pilot program that will include government-backed credit lines of up to $5 million. The pilot program is designed to be attractive to both lenders and borrowers and to provide small businesses with working capital they need to pursue new contracts and expansion, SBA
In a landscape defined by unprecedented digitization and global connectivity, cross-border payments remain a paradox. That’s because, despite the size of the total addressable market — which is projected to reach a staggering 290 trillion by 2030 — cross-border payments are fraught with inefficiencies, high fees and delayed transactions. A situation almost entirely due to