Stablecoin & Remittance - Western Union's USDPT stablecoin is set to launch on Solana in early 2026 [1] - The company's annual remittance volume reaches $100 billion [1] - The remittance volume requires yield on idle balances [1] DeFi Integration - Marinade and Kamino are expected to become the default deposit destinations for 5-8% returns on payment float [1] - TradFi companies are integrating existing DeFi protocols instead of building their own [1] - The focus is on capturing USDPT deposits rather than Solana itself [1]

Financial Data and Key Metrics Changes - The company reported net income of $61.1 million and core net income of $63.3 million for Q3 2025, with core earnings per share at $1.51 and a core return on average tangible common equity of 25.5% [5][18] - Net interest margin increased by 9 basis points to 2.73% from the prior quarter, while the cost of deposits fell by 9 basis points to 1.47% [5][6] - Net interest income before provision for credit losses was $92.7 million, an increase of $3.3 million or 3.7% from the previous quarter [12] Business Line Data and Key Metrics Changes - Non-interest income totaled $61.2 million, an increase of $4.2 million over the last quarter, driven by higher banking fees and increased foreign exchange revenues [13] - Core non-interest expenses decreased due to lower performance-based incentive accruals and reduced property expenses [14] Market Data and Key Metrics Changes - Bermuda's business environment remains stable with signs of growth in the local economy, including a forecasted budget surplus and increased corporate income tax revenue [8][9] - The Cayman Islands is expected to see a 2.5% GDP increase in 2025, with financial services and tourism being key economic pillars [11] Company Strategy and Development Direction - The company aims to enhance operational efficiency and maintain prudent expense discipline while focusing on capital management [19][20] - The strategy includes pursuing disciplined M&A and organic business development, with a focus on capital-efficient fee-based businesses [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term value creation and highlighted the positive outlook for Bermuda's fiscal position and the growth in the international business sector [4][9] - The company remains conservative in its underwriting approach, focusing on high-quality residential lending across its markets [16] Other Important Information - The company announced a quarterly cash dividend of $0.50 per share and continued its share repurchase program, buying back 700,000 shares at a cost of $30.3 million [6][7] - The tangible book value per share improved by 5.4% to $25.06 as unrealized losses on investments improved [18] Q&A Session Summary Question: Margin trajectory outlook - Management indicated that deposit costs have decreased and there is potential for margin stability or slight expansion due to asset repricing [25][27] Question: Interest in crypto or stablecoin initiatives - Management described a cautious approach, monitoring developments in digital assets but not feeling pressure from clients to lead in this area [29][30] Question: Future expense management initiatives - Management discussed ongoing efforts to manage expenses, including moving back-office functions to Halifax and cloud migration of core banking systems [31][33] Question: Drivers of fee income growth - Management noted strong performance in banking driven by increased transaction volumes and tourism-related card services fees [41][42] Question: Growth expectations in loans and deposits - Management highlighted Bermuda as a key area for deposit growth and noted a conservative approach to loan growth, with encouraging signs in the loan pipeline particularly in Cayman [43][45]

🇰🇷 UPDATE: South Korea’s KRW1 stablecoin is rolling out on Circle’s new blockchain Arc. https://t.co/EFdkbSZec0 ...

Core Insights - Wirex forecasts that Europe's stablecoin market could reach €1 trillion this decade, driven by euro-denominated tokens compliant with the EU's new MiCAR regulation [1][2] - The stablecoin market currently shows 90-95% of global circulation in USD-denominated tokens, with EUR-backed tokens representing less than €350 million [2] - Wirex projects a 10-15x growth for MiCAR-compliant euro tokens and emphasizes the need for coordinated EU incentives to promote EUR-backed stablecoins [2] Programmable Money and Banking Infrastructure - The whitepaper discusses the integration of stablecoins into mainstream finance as payment instruments under MiCAR's regulatory framework, marking a shift from mobile banking to programmable money [3] - The concept of agentic payments is introduced, where AI- and smart-contract-driven transactions operate autonomously for users [4] - Wirex anticipates the emergence of stablecoin-native challenger banks that will integrate non-custodial wallets, on-chain settlement, and card networks across various FinTech services [4] Wirex Strategy and Industry Context - Wirex has established its European headquarters in Milan in 2025, viewing MiCAR compliance as a competitive advantage [5] - The platform has processed over $20 billion in transactions since its inception [5] - Other payment firms, such as Western Union and Circle, are also entering the stablecoin space, with Circle obtaining an e-money license in France for its EURC stablecoin [6] Policy Recommendations - The whitepaper recommends harmonizing MiCAR implementation across EU Member States to avoid regulatory fragmentation [7] - It suggests merchant-level incentives for EUR-stablecoin adoption, including lower fees and faster settlement [7] - The report calls for expanded regulatory sandboxes and ensuring interoperability between the digital euro and private stablecoins [7]

RT BSCN (@BSCNews)🚨 LEGACY FINANCE MEETS SOLANA!@WesternUnion is building on @solana to launch USDPT, a U.S. dollar–backed stablecoin for faster, cheaper global transfers — here are the crucial details 👇https://t.co/MlqkCJNRf0 ...

Core Viewpoint - Western Union's introduction of the U.S. Dollar Payment Token (USDPT) on Solana and the Digital Asset Network highlights the potential of stablecoins as an opportunity for remittance firms rather than a threat [1][2]. Group 1: Company Developments - Western Union shares increased by 6.5% following the announcement of USDPT and the Digital Asset Network [1]. - The Digital Asset Network will provide cash-out access at 380,000 Western Union agents, indicating a strategy to monetize stablecoin flows [2]. Group 2: Market Analysis - Analysts from William Blair anticipate that stablecoin remittances could enhance settlement speed, reduce pre-funding requirements, and improve capital efficiency, particularly in markets susceptible to inflation [2]. - Despite advancements in digital services, Western Union faces sluggish core money transfer growth and potential challenges from a remittance tax set to take effect in 2026 [3]. Group 3: Financial Metrics - Western Union's current dividend yield stands at 10%, with a low price-to-earnings ratio of 5.3x for 2026, which is expected to support the stock price [3]. - Following the market opening, WU shares rose by 2% to $9.68 [3].

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Financial Data and Key Metrics Changes - Total adjusted revenue for Q3 2025 grew 1% to $4.9 billion, while adjusted operating income decreased 7% to $1.8 billion, resulting in an adjusted operating margin of 37%, a decrease of 320 basis points [36] - Year-to-date adjusted revenue grew 5% to $14.9 billion, and adjusted operating income grew 5% to $5.7 billion, maintaining an adjusted operating margin of 38.2% [36] - Adjusted EPS for Q3 was $2.04, down 11% from $2.30 in the prior year [36] Business Line Data and Key Metrics Changes - Merchant Solutions segment organic revenue growth was 5% for the quarter and 7% year-to-date, with adjusted revenue growth also at 5% [38] - Financial Solutions segment organic revenue declined 3% in the quarter but grew 3% year-to-date, negatively impacted by lower periodic license revenue [42] - Clover revenue grew 26% in Q3, with GPV growth of 8% reported, and 11% excluding the 2023-2024 gateway conversion [39][40] Market Data and Key Metrics Changes - Argentina contributed over 5 percentage points to the company's 12% organic growth rate in 2023 and roughly 10 percentage points to the 16% organic growth in 2024 [9] - Excluding Argentina, the overall organic revenue growth rate was in the mid-single digits for both 2023 and 2024 [9] Company Strategy and Development Direction - The company is shifting its strategic focus to prioritize sustainable, client-focused opportunities, which may negatively impact near-term results but is expected to position the company for predictable growth [4] - The "One Fiserv" action plan includes investments in client-first operations, enhancing Clover as a small business operating platform, and leveraging AI for operational excellence [22][24] - The company aims to return to consistent mid-single-digit revenue growth beyond 2026, with potential for acceleration over time [6][33] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that recent performance issues were largely self-inflicted and are being addressed through investment and operational focus [14] - The company is confident in its ability to generate double-digit adjusted EPS growth starting in 2027, supported by disciplined capital allocation and strong free cash flow generation [33][54] Other Important Information - The company announced several leadership changes, including new Co-Presidents and a new CFO, to enhance execution and collaboration across business units [27][28] - Three acquisitions were announced during the quarter, focusing on client service and stablecoin growth opportunities [46] Q&A Session Summary Question: How long was Fiserv over earning with deferred investments and short-term initiatives? - Management indicated that the analysis revealed a need for recalibration and that the company is focused on addressing self-inflicted issues to return to double-digit EPS growth [48][50] Question: What changed in the Financial Solutions segment's growth trajectory? - Management noted that while the segment faced challenges, it remains fundamentally strong, with actions taken to ensure competitive positioning [57][68] Question: Is Clover's expected revenue growth a proxy for next year? - Management expressed confidence in Clover's growth trajectory and competitive positioning, indicating that adjustments have been made to align with long-term business needs [73]

Instant, borderless, and built for everyday use: the money rails for the internet are here.This integration marks one of the biggest steps yet in bringing stablecoin utility to the real world - at scale, all powered on Polygon.Read more: https://t.co/NUGtdUN1PH ...

Morning Minute: Western Union Chooses Solana for Stablecoin► https://t.co/ESuY1aUl86 https://t.co/ESuY1aUl86 ...