Chennai: Gangaikonda Cholapuram, the capital of the Chola dynasty for over 250 years, was once a bustling place. Today, it is a sleepy village, with very few good places to stay around the heritage site. 45-year-old Arunram realized this while planning a long weekend with his family recently. He needed a star hotel close to the heritage site and near the highway as he wanted to drive from Chennai. While researching, his first stop was Agoda, an international online travel booking portal. Unhappy with the c ...

Core Viewpoint - Coinbase is applying for a national trust charter to expand its services and foster institutional adoption of cryptocurrency, aligning with its goal to become a super app for financial services [1][2][3]. Group 1: National Trust Charter Application - Coinbase has joined other cryptocurrency companies in applying for a national trust charter from the Office of the Comptroller of the Currency [1]. - If approved, the charter would allow Coinbase to offer custody, asset management, and related services nationwide under a single license, although it would not permit lending or taking insured deposits [4]. - Currently, Anchorage is the only cryptocurrency company that holds a trust charter, which it received in 2021 [4]. Group 2: Strategic Goals and Vision - Coinbase aims to innovate and expand its product offerings beyond custody, including payments and related services, with regulatory clarity [2]. - CEO Brian Armstrong has expressed a vision for Coinbase to replace traditional banks, positioning it as a primary financial account for users [5][6]. - Armstrong believes that the cryptocurrency industry can provide more efficient financial services than traditional banks, citing high transaction fees as an example of inefficiencies in the current financial system [6][7].

Core Insights - OnePay, a fintech company majority-owned by Walmart, is set to introduce Bitcoin and Ether trading and custody services in its mobile app, aiming to become an "everything app" for American users [1][2] Group 1: Product Offerings - OnePay will allow customers to buy, hold, and convert Bitcoin and Ether directly within the app, enabling them to use converted funds for purchases or to pay off credit card bills [2][9] - The app currently offers various banking products, including high-yield savings accounts, debit and credit cards, buy-now, pay-later loans, and wireless plans [3] Group 2: Competitive Positioning - The addition of cryptocurrency services positions OnePay alongside competitors like PayPal, Venmo, and Cash App, which already provide digital asset trading [4] - As of October 3, OnePay ranks fifth on Apple's finance app charts, surpassing major players like JPMorgan Chase, Robinhood, and Chime [4] Group 3: Market Potential - OnePay leverages Walmart's extensive customer base, with access to 150 million weekly shoppers, while operating as a standalone business targeting underserved Americans [5] - Although OnePay facilitates crypto transactions, Walmart stores do not accept Bitcoin or Ethereum directly; transactions still settle in U.S. dollars [6]

Group 1 - Dunamu, the operator of Upbit cryptocurrency exchange, and Naver's subsidiary are planning a consolidation into a single business group, potentially creating a new super app [1][7] - A comprehensive stock swap is being pursued, where Naver Financial will become the parent holding company and Dunamu will be a wholly-owned subsidiary [2][6] - Naver Financial and Dunamu have established separate task forces to facilitate the stock swap and are in discussions about various forms of cooperation, including stablecoin and unlisted stock trading [3][4][5] Group 2 - The stock swap will likely involve Naver Financial issuing new shares to existing Dunamu shareholders, converting them into Naver Financial shareholders [6][7] - If the consolidation is successful, Naver will control two major financial entities: Naver Financial and Upbit, enhancing its position in both traditional finance and cryptocurrency trading [7]

Core Perspective - Coinbase aims to evolve into a financial "super app" that integrates crypto with a wide range of financial services beyond traditional banking [1][4]. Group 1: Strategic Vision - The long-term goal of Coinbase is to replace traditional banking services, providing a comprehensive application for spending, savings, payments, and investing [3][4]. - Coinbase has already launched a credit card that offers 4% back in bitcoin, showcasing its commitment to integrating crypto into everyday financial transactions [3]. Group 2: Regulatory Environment - There is a growing momentum in Congress for establishing regulatory frameworks for the crypto industry, which is seen as beneficial for Coinbase's ambitions [2][5]. - The recent passage of the "Genius Act" and ongoing discussions about a market-structure bill are pivotal for defining regulations around tokens like bitcoin and ether [5][6]. Group 3: Industry Challenges - Armstrong highlighted the need to overcome lobbying efforts from big banks that seek to restrict crypto rewards programs, arguing that such rewards are akin to traditional loyalty programs [6][7]. - The clarity in regulations could help resolve past conflicts with regulators, who previously treated crypto tokens as unregistered securities [6].

Group 1: Company Insights - Coinbase successfully recovered NBA star Kevin Durant's account after he lost access, highlighting the company's customer support capabilities [2][3][4] - The CEO of Coinbase, Brian Armstrong, emphasized the importance of account recovery services, contrasting it with self-custody options where users bear full responsibility for their passwords [4][6] - Coinbase aims to become a super app, providing a wide range of financial services and positioning itself as a primary financial account for users [22][23] Group 2: Industry Developments - Recent legislative developments, including the passage of the Genius Act and the Clarity Act, are creating a clearer regulatory framework for cryptocurrencies and stablecoins, which is seen as a positive step for the industry [8][9][10] - The potential for Bitcoin to reach significant price milestones, such as $1 million per coin by 2030, is supported by emerging regulatory clarity and institutional interest, particularly with the launch of Bitcoin ETFs [29][31] - The U.S. government's strategic Bitcoin reserve is expected to drive demand, with other G20 countries likely to follow suit, indicating a growing acceptance of Bitcoin in mainstream finance [30][31]

Core Insights - OnePay, a fintech firm majority owned by Walmart, is launching a wireless plan to enhance its offerings and become a comprehensive financial services platform [1][3] - The new OnePay Wireless plan will cost $35 per month for unlimited 5G data, talk, and text on the AT&T network, with easy in-app activation and no credit checks or activation fees [2][4] - The partnership with Gigs aims to reduce customer acquisition costs for AT&T, allowing savings to be passed on to consumers [4][5] Company Overview - OnePay was established in 2021 by Walmart in collaboration with Ribbit Capital, with the goal of becoming a super app similar to WeChat or Alipay [3] - The services offered by OnePay include credit and debit cards, high-yield savings accounts, buy now, pay later loans, and a digital wallet with peer-to-peer payments [1][3] Industry Context - The integration of wireless services into fintech platforms is a growing trend, with other companies like Klarna and Nubank also expanding their service offerings [4] - Gigs CEO Hermann Frank highlighted that the average consumer overpays for phone bills, and the new plan aims to provide a more affordable option with modern features [5]