Financial Data and Key Metrics Changes - The company has achieved eight consecutive quarters of double-digit transaction growth and high single-digit revenue growth in its digital business, indicating a strong performance in this segment [7][16][18] - The retail business outside of the Americas has stabilized and is now a growing asset, with non-Americas business growing over 10% [5][6] Business Line Data and Key Metrics Changes - The retail business in Europe has shown high single-digit transaction growth with mid single-digit revenue growth, marking a significant turnaround from previous years [6][35] - Non-remittance services, including bill pay and foreign exchange, have experienced strong double-digit growth, contributing to overall revenue [10][15] Market Data and Key Metrics Changes - The political situation in the Americas has disrupted migratory patterns, leading to a decline in transactions, particularly in Latin America, while the U.S. market has seen higher principal amounts sent but fewer transactions [51][54] - The company has a mid to upper single-digit market share in key corridors like India and Guatemala, indicating significant room for growth [22][24] Company Strategy and Development Direction - The Evolve '20 '25 strategy has transformed the company from a declining business to one with positive growth, focusing on stabilizing the retail business and enhancing digital offerings [5][6] - The company aims to be a globally diversified provider of everyday financial services, expanding beyond remittances into areas like foreign exchange and bill pay [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term trends in global migration patterns, which are expected to support business growth despite short-term challenges [71][72] - The potential introduction of a remittance tax could significantly impact demand, with management noting that it would effectively double the cost of sending money [58][60] Other Important Information - The company has invested significantly in modernizing its retail point of sale systems, which has improved transaction efficiency and customer experience [37][43] - The company is exploring the use of stablecoins for settlements, although regulatory clarity is needed before significant implementation [75][81] Q&A Session Summary Question: What are the key achievements of the Evolve '20 '25 strategy? - The strategy has stabilized the retail business and driven growth in the digital segment, with a focus on high-growth corridors and enhancing customer experience [5][6][24] Question: How does the company plan to address the potential remittance tax? - Management indicated that the tax would likely be passed on to consumers, significantly increasing the cost of sending money [58][60] Question: What is the company's outlook on global migration trends? - Management believes that inbound migration is essential for GDP growth in developed countries, which will positively impact the business long-term [71][72]

Financial Data and Key Metrics Changes - Consumer spending trends have remained stable, with low unemployment and wage growth supporting purchasing power [7][9] - Cross-border travel growth rate was reported at 16%, indicating a healthy trend despite some volatility in select markets [12][16] Business Line Data and Key Metrics Changes - The company has seen strong performance in cross-border e-commerce, which remains consistently strong with no changes reported [16] - The commercial payments segment is identified as a significant opportunity, with a serviceable addressable market sized at $80 trillion [66] Market Data and Key Metrics Changes - The company operates in a highly competitive landscape with increased competition from local schemes, international networks, and digital wallets [21][22] - 70% of the company's revenue comes from outside the United States, highlighting the importance of international markets [29] Company Strategy and Development Direction - The company emphasizes the importance of trust and flexibility in navigating a complex operating environment influenced by geopolitical and regulatory changes [3][4] - Partnerships with local wallets and digital payment solutions are being pursued to enhance market presence and consumer engagement [32][41] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the macroeconomic challenges but emphasizes the company's diversified model and ability to adapt to various economic conditions [10][96] - The company is optimistic about the growth potential in emerging markets and the ongoing digital transformation in payments [30][64] Other Important Information - The company is focusing on tokenization as a foundational layer for enhancing security and programmability in transactions [43][45] - Recent partnerships, such as with Alipay and GCash, aim to extend the use of local e-wallets for cross-border payments [33][36] Q&A Session Summary Question: What are the consumer spending trends? - Consumer spending trends have remained stable, supported by low unemployment and wage growth [7][9] Question: Can you discuss cross-border travel trends? - Cross-border travel growth rate is at 16%, with some volatility in select markets but overall solid performance [12][16] Question: How is the competitive environment affecting the company? - The market is highly competitive with various players, but the company is winning through trust and tailored solutions [21][22] Question: What is the company's approach to tokenization? - Tokenization is growing rapidly, with 35% of all switch transactions already tokenized, enhancing security and user experience [44][45] Question: How does the company view the role of stablecoins? - Stablecoins are seen as having potential in B2B and cross-border payments, with the company ready to enable stablecoin settlement when regulatory clarity is achieved [56][64]

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New York, NY, May 15, 2025 (GLOBE NEWSWIRE) -- Wen Acquisition Corp (the “Company”) announced today the pricing of its initial public offering of 26,100,000 units at a price of $10.00 per unit. The units are expected to be listed on The Nasdaq Global Stock Market LLC (“Nasdaq”) and begin trading on May 16, 2025, under the ticker symbol “WENNU.” Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A ordi ...

#Stablecoins are quietly becoming the backbone of crypto liquidity. Will they eventually replace traditional bank reserves? 💵 ...

Financial Data and Key Metrics Changes - Consolidated net sales for Q1 2025 were essentially flat at $103.9 million compared to the prior year [16] - Consolidated gross margin decreased to 52.5% from 53.1% in the same quarter of the prior year [16] - Pro forma adjusted EBITDA decreased by 2% to $33.7 million, driven by higher general and administrative expenses [17] - Adjusted net income increased by 21% to $28.4 million, with adjusted diluted EPS rising to $0.25 from $0.24 [18] Business Line Data and Key Metrics Changes - The Payment Card and Arculus business started the year in line with expectations, with program activity remaining strong [10] - Arculus delivered record results for the quarter, contributing positively with new vertical industry wins [10][14] - Domestic net sales decreased by $3.3 million or 4%, while international net sales increased by $3.1 million or 28% [18] Market Data and Key Metrics Changes - The metal payment card market continues to show strong issuer adoption and end-user preference, with demand strengthening in Q2 [13] - The company is seeing momentum building in both Payment Cards and Arculus, anticipating sustained growth through the remainder of the year [11] Company Strategy and Development Direction - The company is focused on organic growth through the implementation of the CompoSecure Operating System (COS) to enhance operational excellence [11][24] - The strategy includes evaluating M&A opportunities that align with the company's growth profile and create long-term value [25] - The company aims to maintain a disciplined approach to capital allocation, balancing organic growth, M&A, and potential buybacks [84] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the company's positioning and growth trajectory despite macroeconomic headwinds such as rising labor costs and economic uncertainty [25] - The company is reaffirming its full-year 2025 guidance, expecting mid-single-digit growth in both consolidated net sales and pro forma adjusted EBITDA [24] Other Important Information - The company is now required to report results using the equity method of accounting following the spin-off of Resolute Holdings, which affects how financial results are presented [19] - Non-GAAP financial measures are provided to help investors understand the underlying economics of the business [4][19] Q&A Session Summary Question: Is the guidance maintained due to macro environment conservatism? - Management indicated that the guidance reflects expected mid-single-digit growth, with momentum building into Q2 and beyond [30] Question: What areas are the biggest focus for acquisition? - The company is looking at opportunities within its current space and along the value chain, maintaining a broad remit for potential acquisitions [32] Question: How is the remainder of the year expected to unfold in terms of revenue growth? - Management expects growth to tick up in Q2 and continue building through Q3 and Q4, with no signs of macroeconomic impacts affecting client activity [39][42] Question: What traction is being seen with Arculus among legacy issuers? - The company is seeing traction in traditional banks, fintechs, and gaming sectors, with a focus on moving towards passkey technology [75] Question: How is the M&A pipeline looking amid recent tariffs? - The M&A pipeline remains healthy, with the company positioned as an attractive acquirer in the market [77]

Financial Performance - Net revenues decreased by 25.9% year-over-year to $12.6 million[17] - Operating expenses, excluding crypto costs, decreased by 36.3% year-over-year[17] - Net income improved by 176.5% year-over-year to $16.2 million[17] - Adjusted EBITDA loss improved by 11.0% year-over-year to $14.5 million[17] - Total revenues increased by 25.8% year-over-year to $1074.9 million, but decreased by 40.2% quarter-over-quarter[78] - Total operating expenses increased by 23.3% year-over-year to $1093.4 million, but decreased by 39.6% quarter-over-quarter[78] Operational Updates and Strategic Direction - Bakkt plans integration and completion of commercial agreement with Distributed Technologies Research (DTR)[17] - Bakkt is streamlining its business to focus on core strengths through strategic divestitures and operational efficiency[28] - Q1 volume increased 23% year-over-year, 139% since Q1'23[6] - Assets under custody of $1872.6 million, down 18.7% QoQ and up 52.5% YoY due to higher coin prices[64]

Core Viewpoint - Meta is exploring the adoption of stablecoins for cross-border payments to reduce transaction fees associated with traditional payment methods [1][2]. Group 1: Meta's Stablecoin Consideration - Meta is in discussions with crypto firms and is likely to utilize multiple types of stablecoins for its payment solutions [1]. - The company aims to use stablecoins for small payouts to creators in different regions, indicating a focus on enhancing its payment capabilities [2]. - This consideration comes after Meta previously abandoned its stablecoin initiative, originally named Libra and later Diem, due to regulatory challenges [2]. Group 2: Industry Context - The current political climate under the Trump administration is reportedly more favorable to cryptocurrency compared to the previous Biden administration, which may influence Meta's decision [3]. - The financial sector is increasingly adopting stablecoins, as evidenced by Stripe's acquisition of Bridge, Visa's partnership with Bridge, and Fidelity's plans to develop its own stablecoin [3][4]. - Stablecoins are recognized for their advantages, such as fast transactions and reduced volatility, making them appealing for financial services [4]. Group 3: Market Developments - Stripe's CEO highlighted the potential of stablecoins to significantly improve speed, coverage, and cost for businesses globally [4]. - Visa's collaboration with Bridge aims to enable FinTech developers to offer stablecoin-linked Visa cards, showcasing the growing integration of stablecoins in traditional finance [4]. - Fidelity, managing over $5 trillion in assets, is preparing to launch its own stablecoin, indicating a broader trend of established financial institutions entering the stablecoin market [5].