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Western Union to Launch USDPT Stablecoin on Solana in 2026
Yahoo Finance· 2025-10-29 01:36
Group 1 - Western Union plans to launch a US dollar-backed stablecoin called USDPT on the Solana blockchain, with issuance by Anchorage Digital Bank expected in the first half of 2026 [1] - The primary objective of this initiative is to make cross-border money transfers faster and cheaper, utilizing blockchain technology for near-instant transactions [2] - With a significant existing customer base and a physical presence in over 200 countries, USDPT will leverage Western Union's established financial network, giving it a unique advantage over other stablecoins [3] Group 2 - Anchorage Digital Bank will handle the issuance of USDPT, ensuring compliance with regulations as a federally regulated institution [4] - The launch aligns with the new Genius Act, which provides clearer regulatory guidance around stablecoins, contributing to Western Union's confidence in proceeding with this initiative [5] - Solana was chosen for its capability to manage high transaction volumes at low costs, essential for Western Union's global operations [6] Group 3 - There are still uncertainties regarding the exact release date of USDPT and how customers will access or use the stablecoin through existing Western Union channels [7] - Concerns remain about government and financial regulator responses to the token's launch in various countries, as well as issues related to reserve management and liquidity [8]
X @mert | helius.dev
mert | helius.dev· 2025-10-28 22:04
not a bad day td- released biggest RPC change in Solana history- helped power record-breaking SOL ETF w Bitwise- organized first-ever privacy hackathon w Zcash- ratiod some XRP and KOL mfers- angel invested in 2 awesome companies- made video for huge release tmtrillions ...
X @Polkadot
Polkadot· 2025-10-28 19:45
Web2 🤝 Web3 @TechCrunch Disrupt edition. https://t.co/EildKVrlg1Polkadot (@Polkadot):Happening Now! Polkadot takes on Techcrunch Disrupt '25 as exclusive blockchain sponsor.Discover how Web3 infra is powering AI, FinTech, & enterprise with demos and eco builders.Booth M1 + M2 | Oct 27 - 29https://t.co/GJiZIJZcrL ...
Blockchain-Based Polymarket Eyes U.S. Comeback by November: BBG
Yahoo Finance· 2025-10-28 19:40
Core Insights - Polymarket is set to relaunch in the U.S. as early as November, focusing initially on sports-related markets [1][2] - The company previously ceased U.S. operations in 2022 after a settlement with the CFTC, which included a $1.4 million fine for operating an unregistered derivatives platform [2][4] - Following the settlement, Polymarket has been operating offshore while expanding its user base in various prediction markets [3] Company Developments - Polymarket acquired QCX, a firm with exchange and clearinghouse licenses from the CFTC, enabling it to operate legally in the U.S. [4] - The platform differentiates itself from competitors by utilizing blockchain infrastructure and primarily stablecoins for trading [5] - Details regarding the planned native token, which aims to connect platform growth to the crypto ecosystem, have not yet been disclosed [5]
SoFi Benefits From Expanding Beyond Lending, Says CEO
Youtube· 2025-10-28 19:26
Core Insights - The company is experiencing significant traction among affluent, younger demographics, with a strong performance reflected in 17 consecutive quarters of revenue growth and margins exceeding the attractive "rule of 40" for technology investors, averaging 58% and reaching 67% this quarter [1] - The company reported a 30% revenue growth and 29% EBITDA margins, attributed to a diverse product set developed over the past eight years, leading to durable growth and strong profitability [2] - 56% of revenue came from nine lending segments, showing a meaningful increase of 57%, with product member growth at 35% and 36% product growth, indicating effective strategy execution [3] Investment and Strategic Developments - Vedere is making a $1 billion equity investment in Nokia, acquiring shares at $6.01 per share, which will help Nokia accelerate its strategic plans [4] - The fintech market is currently favorable for companies that announce new initiatives, as seen with PayPal's stock performance following their announcements [5] - The company is benefiting from two technology super cycles: blockchain and artificial intelligence, with ongoing product releases impacting business positively [6] Product Innovations - The company launched Sofi Pay, allowing payments in the U.S. through its app for money remitted internationally to Mexico, utilizing Layer two blockchain technology [7] - Plans to expand services to Europe and launch cryptocurrency trading capabilities by the end of the year, positioning itself as the first national bank in the U.S. to offer such services [8][9] - A stablecoin is set to launch next year, expected to impact various business segments and be offered to technology platform partners [10] Credit Performance and Market Position - The company targets prime and super prime customers, with strong credit performance evidenced by a sequential improvement in net charge-offs by 20 basis points [12] - Average FICO scores for personal loans and refinancings are 740 and 750, respectively, indicating strong credit quality and demand from capital markets partners [13] - The loan platform business has surpassed $3 billion, up $900 million sequentially, reflecting a flight to quality in the market [13] Workforce and Future Initiatives - The company is accelerating investment and expanding its workforce, having hired more engineers this year than in previous years, with no signs of slowing down [17] - New initiatives include the smart card and Cash Coach, aimed at optimizing cash management for users [15][16]