Key Takeaways Visa's pilot in Visa Direct allows businesses to prefund cross-border payouts with approved stablecoins.The move improves liquidity management, reduces capital lock-up and accelerates access to funds.V shares are up 10.7% YTD, trade at a forward P/E of 27.2X and are expected to grow EPS by 13.7% in FY2025.Visa Inc. (V) has recently unveiled a pilot program through its Visa Direct platform that enables businesses to use stablecoins as a new funding option for cross-border payouts. The launch co ...

SAN FRANCISCO--(BUSINESS WIRE)--Visa (NYSE:V), a global leader in digital payments, today released findings from its third annual Growth Corporates Working Capital Index, based on insights from more than 1,400 CFOs and Treasurers across 10 industries and 23 countries. The data reveals a pivotal shift in how mid-sized companies around the world are approaching financial strategy: working capital is no longer just a buffer, but the new growth engine. These organizations are leveraging digital too. ...

9月26日，中国人民银行、中国证监会、国家外汇管理局联合发布关于进一步支持境外机构投资者在中 国债券市场开展债券回购业务的公告(以下简称《公告》)。 中国人民银行、中国证监会、国家外汇管理局进一步支持各类境外机构投资者开展债券回购业务，不仅 有利于满足市场需求，进一步增强人民币债券资产吸引力，也有利于优化合格境外投资者制度，巩固提 升香港国际金融中心地位，助力在岸离岸人民币市场协同发展。业务模式上，中国人民银行深入总结境 内外回购市场实践，加强银行间市场债券回购机制和国际市场通行做法衔接，实现标的债券过户和可使 用，为境外机构投资者开展债券回购业务提供更大便利，也有利于促进优化境内债券回购业务机制。 下一步，中国人民银行、中国证监会、国家外汇管理局将会同有关各方持续完善各项机制安排，稳步推 进中国债券市场高水平制度型开放。 促进在岸和离岸金融市场 互联互通 近年来，中国债券市场对外开放取得积极成效，境外机构投资者投资中国债券市场的数量和持债规模扩 大，通过债券回购业务开展流动性管理的需求不断增加。截至2025年8月末，共有来自80个国家和地区 的1170家境外机构进入中国债券市场，持债总量约4万亿元人民币。 ...

⏰ 1 DAY LEFT! ⏰Our next Katana Liquidity Management AMA is happening tomorrow with the brilliant folks at @TheDeep_xyz🌊📅 Aug 27, 2025 (Wed)🕐 1:00pm ET🎙️ Set your remindershttps://t.co/fAOeYI8hmNDon’t miss it ⚔️🍣Sushi.com (@SushiSwap):🚨AMA Alert🚨We are pleased to announce that our next AMA in the ongoing Katana Liquidity Management series will be taking place next Wednesday with the smart folks from @TheDeep_xyz !🗓️: August 27, 2025 (Wednesday)🕓: 1:00pm ET📍: https://t.co/fAOeYI7Jxf https://t.co/mZDJfKH7Uu ...

Summary of Key Points from the Conference Call Industry Overview - **Industry**: Chinese Economy and Financial Markets - **Current Sentiment**: Market sentiment remains buoyant despite cooling growth, supported by ample liquidity and favorable policy direction [1][3] Core Insights - **Growth Projections**: Growth is expected to moderate to approximately 4.5% year-on-year in Q3 2025, with August export growth likely slowing to 5-6% year-on-year from 7.2% in July due to a high base effect and payback from previous export front-loading [2][3] - **Consumer Sentiment**: Domestic sales of autos and online home appliances have declined year-on-year in early August, reflecting stricter subsidy management and a continued downturn in the property market, which negatively impacts consumer wealth [2][3] - **Infrastructure Investment**: Year-on-year infrastructure capital expenditure may see a mild increase due to reduced weather disruptions and earlier government bond proceeds, but this rebound is expected to be temporary due to diminishing fiscal support [2][3] Liquidity and Market Dynamics - **Liquidity Indicators**: The MS Free Liquidity Indicator has turned positive since June 2025, indicating increased liquidity for financial investments. Inflows to the onshore equity market in the first half of 2025 are estimated at Rmb1.5-1.7 trillion, with insurers contributing over two-thirds of this amount [3][28] - **Retail Investor Activity**: Retail investors have allocated an additional Rmb400-500 billion into A shares, reflecting a shift towards capital markets as household deposits decline [3][23] - **Margin Financing**: Margin financing balances in the A-share market have exceeded Rmb2 trillion (approximately $290 billion), accounting for 4.8% of free float market capitalization, which is slightly below the 10-year average [9][35] Policy Developments - **Government Measures**: The Chinese government is implementing consumption-supporting measures and addressing overcapacity in the refining and petrochemical sectors, which may lead to the exit or upgrade of older capacities [4][3] - **Monetary Policy Stance**: The People's Bank of China (PBoC) has shifted towards a more neutral stance on liquidity management, emphasizing credit quality and reducing net liquidity injections since June [8][26] Risks and Considerations - **Potential Risks**: The risk of government intervention due to over-leverage appears low currently, but could increase if margin financing and daily turnover metrics rise significantly [9][35] - **Fiscal Impulse**: The sustainability of any recovery in infrastructure investment is in question due to a fading fiscal impulse expected in the coming months [2][18] Additional Insights - **Export Trends**: A slowdown in container ship departures from China to the US indicates a payback from previous export front-loading, which may affect future trade dynamics [10][12] - **Consumer Behavior**: The decline in household deposits and the shift towards capital markets suggest changing consumer behavior in response to economic conditions [23][24] This summary encapsulates the key points discussed in the conference call, providing insights into the current state of the Chinese economy, market sentiment, and potential risks moving forward.

Partnership & Events - SushiSwap and CharmFinance are hosting an AMA (Ask Me Anything) session on liquidity management strategies on Katana [2] - The AMA is the third part of an ongoing series focusing on liquidity management on Katana [2] - The AMA is scheduled for August 12, 2025, at 12:00pm ET [2] Focus of AMA - The AMA will cover LP (Liquidity Provider) strategies and liquidity management on Katana [1][2] - The discussion will explore the implications of these strategies for users on Katana [1][2]

Event Announcement - AMA (Ask Me Anything) series part 3 focusing on Liquidity Management on Katana is scheduled [1] - The AMA will feature @CharmFinance and discuss liquidity management and LP (Liquidity Provider) strategies on @katana [1] - The event is scheduled for August 12, 2025 (Tuesday) at 12:00pm ET [1] - Registration for the AMA is available via the provided link [1]

Liquidity Management - Easier liquidity management and no channel to handle on Lightning Network [1] - This liquidity is not idle and can be used to generate yield on Starknet [1] Technology Aspect - Two main aspects are considered [1]

Core Points - Bureau Veritas has implemented a new liquidity contract with Rothschild Martin Maurel as of January 7, 2025, following the termination of the previous contract with BNP Paribas Exane on December 31, 2024 [2][4]. Group 1: Liquidity Contract Details - The liquidity account as of June 30, 2025, included various assets, with a total of 15,000 Bureau Veritas shares and 10,510,215 euros in cash [4]. - From January 7, 2025, to June 30, 2025, a total of 3,880,181 shares were purchased through 6,726 transactions, amounting to 111,320,894 euros, while 4,001,491 shares were sold through 13,631 transactions for a total of 114,949,282 euros [4]. - The previous liquidity contract with BNP Paribas Exane was terminated to rotate the investment services provider responsible for maintaining the liquidity of Bureau Veritas shares [4].

Core Insights - Amcon Distributing reported diluted EPS of $2.13 and revenue of $739.6 million for Q3 fiscal 2025, with no analyst estimates available for comparison [1][2] - Operating profit margins tightened due to inflation in operating costs, leading to weaker profitability despite steady sales compared to Q3 fiscal 2024 [1][6] Financial Performance - EPS decreased by 13.4% from $2.46 in Q3 2024 to $2.13 in Q3 2025 [2] - Revenue increased by 3.0% from $717.9 million in Q3 2024 to $739.6 million in Q3 2025 [2] - Operating income fell by 13.5% from $5.6 million in Q3 2024 to $4.9 million in Q3 2025 [2] - Net income decreased by 11.5% from $1.5 million in Q3 2024 to $1.3 million in Q3 2025 [2] - Gross profit rose by 3.4% from $48.0 million in Q3 2024 to $49.6 million in Q3 2025 [2] Business Overview - Amcon Distributing specializes in wholesale distribution for the convenience retail sector, serving approximately 7,900 retail outlets [3] - The company operates two segments: wholesale distribution, which is the primary revenue driver, and retail health food stores [3][4] Segment Performance - The wholesale segment generated $728.3 million in revenue, accounting for over 98% of total sales, with an operating income of $7.3 million [5] - The retail health food segment reported $11.3 million in sales and a minimal operating income of $0.1 million [5] Cost and Expenses - SG&A expenses increased by 6.5% to $42.5 million compared to Q3 fiscal 2024, outpacing revenue growth [6] - Interest expense was $2.7 million, slightly lower than $2.9 million in Q3 fiscal 2024 [6] - Operating margin was approximately 0.7% [6] Strategic Focus - The company is focusing on expanding foodservice programs, integrating new acquisitions, and investing in technology to enhance marketing and customer retention [4][7] - Management highlighted the importance of proprietary marketing programs, although these have not yet translated into improved margins [7] Cash Flow and Financial Position - Year-to-date cash flow from operations was -$12.5 million, driven by increased accounts receivable and inventory buildup [8] - Shareholders' equity increased to $113.2 million, while cash on hand was $0.83 million and total debt rose to $154.6 million [8] Future Outlook - The company did not provide specific financial guidance but intends to pursue further acquisitions and maximize liquidity [9][10] - Key risks include reliance on cigarette sales and thin operating margins, with a focus on cash management due to inventory and accounts receivable buildup [10]