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A consortium backed by companies including BlackRock, Google and Coinbase said Tuesday that it is launching a stablecoin. Called Open USD, the new dollar-backed stablecoin is slated to be offered later this year on the Coinbase-affiliated blockchain Base, as well as on Solana and other networks.
A consortium including Visa, Mastercard and Coinbase on Tuesday launched a new joint stablecoin in a bid to broaden the adoption of the digital tokens. The venture, called Open Standard, brings together more than 140 businesses for the stablecoin network and will issue a new U.S.-dollar pegged stablecoin called Open USD, which is expected to go live later this year. It is aimed at accelerating the usage of the digital tokens worldwide by addressing hurdles that businesses face in scaling stablecoin adoption, Open Standard said.
The Dow Jones Industrial Average topped 52000 for the first time on Monday, highlighting investors’ increasing demand for stocks at the heart of the American economy. One major contributor was Alphabet which rose 4.8% to lead gains on the Google-parent’s first day as one of the blue-chip index’s 30 components.
The European Central Bank secured key parliamentary backing on Tuesday for the launch of a digital euro, an electronic means of payments aimed at making the euro zone less reliant on U.S. credit cards at a time of fraying transatlantic relationships. The digital euro, essentially an electronic wallet guaranteed by the central bank but marketed by banks or fintech companies, will allow all euro zone residents to make payments online and in person. Six years in the making, the ECB's digital cash has become a more pressing issue since Donald Trump returned to the White House, slapping tariffs on even established trade partners such as the European Union and raising fears that the U.S. could one day weaponize its dominance over payment networks like Visa and Mastercard.
Despite the passage of state legislation and a federal court settlement aimed at taming credit and debit card fees, the card networks and their issuers prevailed in the first half of this year.
Michael Burry is betting PayPal's deeply discounted valuation and strong cash generation will eventually outweigh investor skepticism.
These five stocks are positioned to benefit from persistent inflation, elevated interest rates, and strong nominal economic growth.
SpaceX’s (SPCX) historic IPO kicked off with a valuation few companies ever touch. Consequently, it also left investors wondering how much upside is left, or whether profit-taking is about to begin. SpaceX's stock, priced at $135, raised $75 billion, opening a brand new chapter for Elon Musk’s ...
Despite operational hurdles, Transat AT Inc (TRZBF) reports increased traffic and cash reserves, while gearing up for a new loyalty program launch.
University of Florida finance professor Jay Ritter, who runs the school’s IPO Initiative and is widely regarded as the dean of IPO research, told CNBC on June 11, 2026, that SpaceX’s pending offering will set a first-day underpricing record that dwarfs prior benchmarks held by Visa and Alibaba. “SpaceX is almost certainly going to blow ... Top IPO Expert: SpaceX IPO ‘Will Blow Away’ Records Set by Visa and Alibaba
Payments giant Visa said Wednesday that it has embedded its payment network inside of ChatGPT, empowering the chatbot to independently shop and complete transactions on behalf of its user. It means AI agents can not only recommend products but complete the purchase on the user’s behalf, at potentially any merchant that accepts Visa. The payment network's previous attempts at this technological leap were confined to a single retailer or a small set of enrolled merchants.
Here’s the thinking of a federal judge who approved the settlement covering merchants who sued Visa and Mastercard over interchange fees.
A federal judge on Tuesday tentatively approved a settlement between Visa and Mastercard and a class of merchants, paving the way for potential big changes to credit-card rewards. The agreement would end a 20-year legal battle between the card networks and a group of merchants, who have argued that the fees they are charged for each transaction are too high. Initially reached in November, the settlement would give merchants more flexibility to reject certain credit cards and would mandate lowering swipe fees over multiple years.
A federal judge ruled Tuesday that a settlement between the card networks and 12 million merchants over card-swipe fees is fair and reasonable.
Mastercard and Visa are suspending transactions, hotel operators are pulling out and a major Canadian miner is rethinking its presence on the island.
The Dow Jones Industrial Average rose Thursday while other indexes lagged behind thanks in part to gains in bank and healthcare stocks. “This is a non-chip rally,” said Jay Hatfield, chief executive officer and portfolio manager at Infrastructure Capital Advisors.
Find insight on Visa, RHB Bank, Heartland and more in the latest Market Talks covering financial services.
IBM said on Thursday it has committed $5 billion to an initiative that will deploy engineers and AI tools to help companies better secure open source software. The initiative, called Project Lightwell, seeks to create a "clearinghouse" for open source security, establishing a model for managing risks across the software supply chain. Open source software is freely available code that anyone can use and modify, and powers the technology systems of most companies.
May 27 (Reuters) - Robinhood will allow customers to deploy AI agents to trade stocks on its platform and make purchases on its credit card, the company said on Wednesday. The company said its users will be able to create a dedicated trading account, separate from their primary one, and have their AI agents trade on their behalf.
(Bloomberg) -- Mega IPOs like those eyed by SpaceX and OpenAI threaten to push the weighting of tech in equity benchmarks beyond market-bubble levels of concentration, according to Bank of America Corp. strategist Michael Hartnett.Most Read from BloombergBungie Plans Layoffs After Ending ‘Destiny 2’ DevelopmentSpot the Difference: Putin Gets Trump Treatment From Xi in ChinaIran Says the US’s Latest Proposal Has ‘Narrowed the Gaps’Iran in Talks With Oman Over Permanent Hormuz Toll SystemModi’s To
SpaceX's planned IPO would more than triple the U.S. record. Here's how past mega-listings have performed.
By Jesús Aguado and Valentina Za MADRID/MILAN, May 22 (Reuters) - Europe's push to curb its dependence on U.S. payments giants Visa and Mastercard has driven a wedge between the European Central Bank
Cash is suddenly king again on Wall Street. With recession fears lingering, interest rates still elevated, and consumers showing signs of fatigue, corporate America has been preparing for rougher weather ahead. Few companies have prepared more aggressively than Berkshire Hathaway (NYSE:BRK-A)(NYSE:BRK-B). The conglomerate ended the first quarter sitting on a staggering $397.6 billion cash pile, ... Warren Buffett’s Berkshire Hathaway Just More Than Tripled Its Stake in Alphabet
Berkshire Hathaway more than tripled the size of its investment in Google's parent company and bought over $2.6 billion worth of Delta Airlines stock as Greg Abel settled into the CEO job after taking over from Warren Buffett at the start of the year. The conglomerate also dumped a number of other stocks, including Visa, Mastercard, Domino's Pizza, Amazon and United Healthcare after the departure late last year of Todd Combs, who was one of the two investment mangers Buffett hired to help manage the portfolio. Buffett was always reluctant to invest in tech companies because he said he didn't understand them well enough to predict the long-term winners.
Here's what investing conglomerate Berkshire Hathaway was buying and selling during the first quarter, the first period for Greg Abel at the helm since succeeding Warren Buffett as CEO. Delta Air Lines: Berkshire bought a sizable stake worth around $2.
(Bloomberg) -- Donald Trump got the pageantry he craved during his trip to China. But the US president concluded the summit largely where he began, receiving little help from his self-described "friend" Xi Jinping in dealing with a messy war in Iran and a challenging political climate at home.Most Read from BloombergHormuz Oil Flows Creep Higher as More Supertankers ExitIran's Kharg Island Oil Jetties Empty Again Yesterday, Satellite ShowsWhat Is The Thucydides Trap and Why Did Xi Raise It With
(Bloomberg) -- Donald Trump got the pageantry he craved during his trip to China. But the US president concluded the summit largely where he began, receiving little help from his self-described “friend” Xi Jinping in dealing with a messy war in Iran and a challenging political climate at home.Most Read from BloombergHormuz Oil Flows Creep Higher as More Supertankers ExitIran’s Kharg Island Oil Jetties Empty Again Yesterday, Satellite ShowsWhat Is The Thucydides Trap and Why Did Xi Raise It With