Company Overview - Brazilian FinTech PicPay has successfully raised $434 million in its U.S. initial public offering (IPO) [1] - The company sold 22.8 million shares at $19 each, achieving the high end of its target price range, and is set to begin trading on Nasdaq [2] - The IPO values PicPay at $2.5 billion, marking a significant move for its owners, Wesley and Joesley Batista, who are also looking to list their global meatpacking business JBS in the U.S. market [2] Industry Context - The IPO occurs during a resurgence of funding in the Latin American FinTech space, particularly from venture capital, which has facilitated ongoing financial innovation [4] - Digital wallets, account-to-account transfers, and real-time payment systems are increasingly replacing cash, modernizing commerce and enhancing access to formal financial services [5] - By 2030, digital payments are expected to account for approximately two-thirds of eCommerce transaction value and nearly half of point-of-sale value in Latin America, indicating a structural shift in consumer behavior [5] Brazil's Digital Payment Landscape - Brazil is leading the region in digital payments, with 61% of Brazilian consumers using mobile phones for retail purchases, the highest rate among surveyed countries [5] - The infrastructure supporting this behavior includes Pix, Brazil's government-backed real-time payment system, which processed 64 billion transactions in 2024, surpassing combined debit and credit card volumes [6] - Additionally, Brazil-based digital bank Inter has received regulatory approval to operate in the U.S., further expanding the country's financial services landscape [6]

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Core Insights - PayPal Holdings, Inc. has a market capitalization of $51.9 billion and operates a two-sided technology platform for digital payments, connecting merchants and consumers [1] Performance Overview - Over the past 52 weeks, PayPal's stock has decreased by 38.5%, while the S&P 500 Index has increased by 16.1% [2] - Year-to-date, PayPal shares are down 4.9%, compared to a 1.9% gain in the S&P 500 [2] - PayPal has also underperformed the State Street Financial Select Sector SPDR ETF, which returned 3.1% over the same period [3] Recent Developments - On October 28, PayPal's shares rose by 3.9% following the release of strong Q3 2025 results, reporting adjusted EPS of $1.34 and revenue of $8.42 billion, both exceeding expectations [4] - The company announced a partnership with OpenAI, allowing ChatGPT users to purchase products through its platform, which positively influenced investor sentiment [4] - PayPal raised its full-year adjusted EPS forecast to a range of $5.35 to $5.39 [4] Earnings Expectations - Analysts project PayPal's adjusted EPS to grow by 15.3% year-over-year to $5.36 for the fiscal year ending December 2025 [5] - PayPal has a history of earnings surprises, having beaten consensus estimates in the last four quarters [5] Analyst Ratings - Among 44 analysts covering PayPal, the consensus rating is a "Hold," with eight "Strong Buy," two "Moderate Buy," 29 "Hold," one "Moderate Sell," and four "Strong Sell" ratings [5] - The current analyst configuration is less bullish than three months ago, when there were 13 "Strong Buy" ratings [6] Price Targets - Susquehanna lowered its price target on PayPal to $90 while maintaining a "Positive" rating [7] - The mean price target of $72.72 indicates a 31% premium to current price levels, while the highest price target of $105 suggests an upside potential of 89.2% [7]

Core Viewpoint - Stablecoins are transitioning from experimental phases in cryptocurrency to becoming integral components of trusted financial infrastructure, as highlighted by OKX's launch of a new debit card in Europe [1]. Group 1: Regulatory Environment - European regulators are enhancing the momentum for stablecoins through the implementation of the EU's Markets in Crypto Assets (MiCA) framework, which standardizes regulations for stablecoin issuers and crypto service providers across the bloc [1]. Group 2: Product Launch - OKX has introduced a new crypto payments card in Europe, enabling users to spend stablecoins directly at merchants that accept Mastercard [2]. - The OKX Card connects self-custody wallets to real-world payments, offering fee-free spending with a 0.4% market spread applied at the point of conversion [2]. Group 3: User Experience - Unlike traditional crypto cards that require manual conversions or preloading, the OKX Card allows users to pay with stablecoins directly from their wallets, converting assets only at the time of purchase [3]. - Users can earn crypto rewards of up to 20% during a limited promotional period [3]. Group 4: Functionality and Integration - The card supports tap-to-pay functionality through mobile wallets like Apple Pay and Google Pay, and is usable at over 150 million locations globally [4]. - Designed to integrate with OKX's onchain infrastructure, the card emphasizes user control and avoids centralized custody [4]. Group 5: Compliance and Future Outlook - OKX issues the card through a licensed European payments provider, adhering to anti-money laundering (AML) and know-your-customer (KYC) regulations [5]. - The expansion of stablecoins into the financial mainstream is supported by Mastercard, with expectations that stablecoins will soon see widespread adoption for instant, low-cost global payments [5].

Core Insights - Visa Inc. is enhancing its digital payments ecosystem through a partnership with Mercuryo, enabling near real-time crypto-to-fiat conversions globally, reflecting its commitment to efficient money transfers as digital assets gain popularity [2][5][6] Group 1: Visa's Partnership with Mercuryo - The collaboration allows users to convert digital tokens into local fiat currencies and receive funds directly on Visa debit or credit cards, minimizing settlement delays and transaction hassles for crypto users [3] - The integration supports Mercuryo's goal of wider Web3 adoption by leveraging Visa Direct's global network, facilitating smoother cross-border payouts and improving access to local currency funds [4] - This partnership aligns with Visa's strategy to embed its infrastructure in digital value movements, positioning the company as a key connector between emerging digital asset platforms and established financial systems [5][6] Group 2: Competitive Landscape - Competitors like Mastercard Inc. are also advancing in digital payments by utilizing blockchain and stablecoin solutions to enhance efficiency for cross-border and everyday payments [7] - PayPal is focusing on increasing crypto payment acceptance among merchants and enhancing its wallet ecosystem with features like in-app crypto checkout and cross-border stablecoin transfers [8]

Core Viewpoint - PayPal Holdings Inc. remains a significant player in the digital payments industry despite a 77% decline in stock price over the past five years, facing competition from companies like Square and Stripe [1] Group 1: Stock Performance and Market Sentiment - Ramsey El-Assal from Cantor Fitzgerald has set a price target of $60 for PayPal, indicating a potential increase of approximately 6% from the current trading price of $56.60 [2][6] - Investor sentiment for PayPal has improved significantly, rising from a very bearish score of 12 to a bullish score of 72 within two weeks, reflecting renewed interest from retail investors [2][3][6] - The stock has traded between $56.50 and $57.12 today, showing a slight decrease of 0.035% or $0.02, with a market capitalization of approximately $52.96 billion [5] Group 2: Earnings and Financial Performance - PayPal is scheduled to report its Q4 2025 earnings on February 3rd, having beaten earnings estimates for seven consecutive quarters, including a 14% beat in Q3 [4][6] - Despite trading 37% below its 52-week high of $90.72, the stock remains a topic of debate among investors regarding its true value [4]

Group 1 - Visa Inc. is facing rising regulatory risks, particularly concerning a proposed 10% cap on U.S. credit card interest rates, which could limit customer access to credit for up to 80% of Americans [2] - The growth outlook for Visa Inc. is heavily reliant on the expansion of digital payments, with potential new opportunities arising from Apple's plans to launch its payments service in India starting in 2026 [3] - Visa Inc. has recently enabled Apple Pay support for Chinese-issued Visa Cards, aiming to enhance acceptance across various transaction types and boost cross-border and mobile payment activities [4] Group 2 - The overall sentiment towards Visa Inc. as an investment is cautious, with some analysts suggesting that certain AI stocks may offer greater upside potential and lower downside risk compared to Visa [5]

Core Viewpoint - Visa Inc. is expected to report its first-quarter fiscal 2026 results on January 29, 2026, with earnings estimated at $3.14 per share and revenues at $10.68 billion, indicating year-over-year growth in both metrics [1][2]. Financial Estimates - The earnings estimate for the fiscal first quarter has remained stable over the past 60 days, projecting a 14.2% increase year-over-year [2]. - The Zacks Consensus Estimate for fiscal 2026 revenues is $44.44 billion, reflecting an 11.1% year-over-year rise, while the EPS consensus is $12.81, suggesting an 11.7% increase [3]. Earnings Performance - Visa has a strong history of exceeding earnings estimates, having beaten projections in the last four quarters by an average of 2.7% [3]. Earnings Prediction Model - The current model indicates a negative Earnings ESP of -0.23% and a Zacks Rank of 3 (Hold), suggesting uncertainty regarding an earnings beat this quarter [4]. Growth Factors - Processed transactions are expected to grow by 9.5%, and payment volumes are projected to increase by 8.6% year-over-year [7]. - The total Gross Dollar Volume is estimated to rise by 6.4%, with digital payment adoption contributing positively to results [8]. Revenue Breakdown - Data processing revenues are expected to grow by 14.6% year-over-year, while service revenues are projected to increase by 11.2% [11]. - International transaction revenues are estimated to grow by 11.8%, supported by rising cross-border volumes [12]. Expense Outlook - Adjusted total operating expenses are anticipated to rise by 12% year-over-year, influenced by increased personnel and processing costs [13]. Stock Performance - Visa's stock has declined by 6.1% over the past three months, underperforming the S&P 500's 2.4% rise and the industry's 9.4% decline [14]. Valuation Comparison - Visa is currently trading at 24.46X forward 12-month earnings, above the industry average of 19.62X, indicating a somewhat stretched valuation [17]. Strategic Positioning - Visa is recognized as a high-quality compounder with a resilient asset-light model and long-term growth prospects supported by structural tailwinds [20]. - However, near-term risks include rising expenses, regulatory scrutiny, and competitive threats, which may limit immediate upside potential [22].

Well said @AleoHQ. Money should be private by default, just like cash. This is exactly the direction @opencash_system is building toward — digital payments that preserve privacy without sacrificing compliance when it matters.Aleo (@AleoHQ):Your money deserves the same privacy you expect from cash, even on-chain.When you hand over a dollar in cash, no one knows what it’s for, where it goes, or who receives it. It’s private by default. But the moment money goes digital, that privacy disappears.Every rent http ...

As filed with the Securities and Exchange Commission on January 20, 2026. (Primary Standard Industrial Classification Code Number) REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 AfterNext Acquisition I Corp. (Exact name of registrant as specified in its charter) Cayman Islands 6770 N/A (State or other jurisdiction of incorporation or organization) Registration No. 333-292005 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM S-1 (I.R.S. Employer Identifi ...