A group of banks led by Santander will be forced to keep a portion of the $2.7 billion financing to support Thoma Bravo’s acquisition of customer-service automation business Verint, according to sources https://t.co/hNSwXK6Bgn ...

Market Performance & Outlook - Q3 saw major averages rise, with the S&P up 7%, NASDAQ up 105%, Dow up 45%, and Russell up 11% [2] - The rally is expected to continue, but not necessarily at the same pace as Q3 [2] - US XUS is performing even better, with some stocks like Santandere up 130% year-to-date [3] - Over half of the portfolio is up over 20% year-to-date, with financials like Goldman and JP Morgan performing well [4] Portfolio Adjustments & Strategy - Goldman is up 70% and JP Morgan is up 50% over the last 52 weeks, leading to trimming positions and adding to Berkshire [5] - Berkshire is viewed as insurance, providing a safety net in case of an economic slowdown, with a large cash pile for potential deployment [6] Individual Stocks & Sectors - UBS includes Amazon and Disney on their highest conviction calls list [7] - Disney needs to regain momentum through earnings, particularly from streaming growth including ESPN [8] - Apploving is on the list, with skepticism built into the stock price despite revenue growth [12] - Snowflake, a software name related to AI, has performed well year-to-date and is differentiated in the AI software conversation [13][14] - Mastercard is a long-term holding, with potential opportunities related to stable coins [15] Fintech & IPOs - Wealthfront, a robo advisor, is going public after VCs have been invested for 13 years [17] - Robo advice has become a commodity offering, with limited unique value proposition [18][19] - Wealthfront's business model is primarily a customer acquisition cost (CAC) business [19] - Despite a hospitable tape for fintech investments, the potential for Wealthfront as a great investment is uncertain [20]

Industry Collaboration & Interoperability - The financial industry emphasizes establishing an interoperable, multi-chain financial system to avoid fragmentation [1] - Shared ledgers, standards, and governance are crucial for enabling tokenization at scale within the financial system [1] Key Participants - Chainlink Labs, represented by Fernando Vazquez, participated in a panel discussion at Sibos 2025 [1] - Leaders from Swift, BIS (Bank for International Settlements), Goldman Sachs, and Santander also joined the discussion [1]

linea runs production tests with jpmorgan, bnp paribas, bny mellon, hsbc and santander for swift's blockchain settlement system. consensys built the infrastructure that replaces $150b in annual settlement delays. trades at same fdv as scroll despite being chosen for global banking rails. ...

A group of Wall Street banks led by Santander is reducing the size of a debt offering for Thoma Bravo’s acquisition of customer-service automation business Verint, according to people with knowledge of the matter. https://t.co/e98UCKm8Yt ...

Core Viewpoint - Britain's largest banks are advancing plans to launch tokenised versions of customer deposits in 2024, following the Bank of England Governor's emphasis on prioritising this technology over stablecoins [1][3]. Group 1: Tokenisation and Pilot Programs - Tokenisation refers to creating digital representations of assets like deposits, which proponents argue can enhance transaction speed, cost-effectiveness, and security [1]. - Banks including HSBC, NatWest, and Lloyds have initiated a pilot program using tokenised deposits for payments in online marketplaces [2]. - The pilot, which also involves Barclays, Nationwide, and Santander, is set to run until mid-2026 and will explore applications in remortgaging and digital asset settlement [7]. Group 2: Regulatory Environment and Market Dynamics - The Bank of England has allowed banks to experiment with tokenised deposits under existing regulations, while the Financial Conduct Authority is not expected to finalize stablecoin regulations until the end of 2026 [5]. - The Bank of England Governor has expressed skepticism about stablecoins, suggesting they could undermine financial stability and take money out of the banking system [4][5]. - A senior UK banking official noted that while tokenised deposits may lack the brand recognition of stablecoins, they represent a significant technological advancement [5]. Group 3: Future Potential and Demand - HSBC's head of global payments solutions indicated that the new pilot addresses previous limitations of tokenised deposits, particularly their inability to interact between financial institutions, and highlighted strong client demand for cross-border transaction capabilities [6]. - The pilot is currently focused on domestic use cases but shows promise for international applications [6].

Company Overview - American Exceptionalism Acquisition Corp. A has priced its upsized initial public offering (IPO) of 30,000,000 Class A ordinary shares at $10.00 per share, with shares set to trade on the NYSE under the ticker symbol "AEXA" starting September 26, 2025 [1] - The company is led by Chamath Palihapitiya, founder and Managing Partner of Social Capital, and aims to engage in mergers, amalgamations, share exchanges, asset acquisitions, and similar business combinations with businesses in the energy production, artificial intelligence, decentralized finance, and defense sectors [2] Offering Details - Santander is acting as the sole book-running manager for the IPO, and the company has granted underwriters a 45-day option to purchase an additional 4,500,000 Class A ordinary shares at the IPO price to cover over-allotments [3] - The offering is being conducted solely through a prospectus, which will be available for free from the SEC website or through Santander US Capital Markets LLC [4] Regulatory Information - The registration statement for the securities became effective on September 25, 2025, and the press release does not constitute an offer to sell or solicit an offer to buy these securities in any jurisdiction where such actions would be unlawful prior to registration [4]

Santander, one of Europe’s most active sellers of bank risks and assets, expects offerings next year to match the pace set in 2025 https://t.co/lh2ILdHxYv ...

Core Insights - Fnality has raised $136 million in a Series C funding round to expand its DLT-based payment systems beyond the UK Sterling network launched in 2023 [1][2] - The funding round was led by major financial institutions including WisdomTree, Bank of America, and Citi, indicating strong institutional confidence in blockchain-based payment systems [6][7] Company Overview - Fnality aims to create a regulated settlement network that connects traditional financial infrastructure with the emerging world of tokenised assets, offering 24/7 real-time settlement and liquidity optimisation [3][10] - The company launched its first payment system, the Sterling Fnality Payment System (£FnPS), in December 2023, recognized as the world's first regulated DLT-based wholesale payment system [4] Funding and Expansion Plans - The Series C funds will be used to expand Fnality's model to other major currencies and enhance interoperability between stablecoins, tokenised deposits, and institutional tokenised assets [5] - The goal is to establish an institutional-grade settlement layer across capital markets, addressing the need for regulated infrastructure anchored in central bank money [10] Industry Impact - Industry leaders view Fnality as a critical foundation for the tokenised markets, with its systems modernising market structures for faster and more efficient operations [6][8] - The support from a diverse group of institutional investors highlights the growing confidence in blockchain-based wholesale payment systems and their potential to transform financial market infrastructure [7][8] Future Outlook - Fnality's success hinges on balancing innovation with compliance, as each payment system must be supervised by its respective central bank, adding credibility and requiring regulatory collaboration [12] - As financial markets trend towards tokenisation, the demand for settlement layers that combine central bank trust with blockchain speed is expected to increase, positioning Fnality as a foundational element in the future of global finance [13]

🗞️ Need to catch up on the news? Here's our top 10 from today:🔸 UK to strengthen ties with US on cryptocurrencies and digital assets, with the deal expected to specifically include stablecoins and closer regulatory alignment, FT reports.🔹 Tuttle Capital files for Bonk Income Blast ETF, Litecoin Income Blast ETF and SUI Income Blast ETF.🔸 The U.S. House is pushing to add a CBDC ban to the market structure bill.🔹 Bitwise filed for a Stablecoin & Tokenization ETF that will invest in stocks and crypto assets.🔸 ...