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Hyperscale Data Subsidiary Ault Markets to Launch U.S.-Based Global Decentralized Cryptocurrency Exchange
Globenewswire· 2025-07-01 10:30
Core Viewpoint - Hyperscale Data, Inc. is launching a Decentralized Cryptocurrency Exchange (DEX) in Las Vegas, Nevada, aiming to position the U.S. as a leader in cryptocurrency innovation and global finance [1][3]. Group 1: DEX Launch and Features - Ault Markets, a subsidiary of Hyperscale Data, plans to enable peer-to-peer digital asset trading without centralized intermediaries, promoting true ownership, privacy, and global accessibility [2]. - The DEX is expected to support trading in up to 175 countries, marking a significant step in the evolution of global finance [2]. - Key features of the DEX include non-custodial peer-to-peer trading, support for all major tokens and blockchain networks, global compliance screening, high-speed low-cost transactions, decentralized identity integration, and 24/7 trading [10]. Group 2: Strategic Vision and Goals - The initiative is a direct response to the current administration's call for U.S. leadership in cryptocurrency innovation, with the goal of establishing a blockchain-native, pro-innovation DEX [3]. - The founder of Hyperscale Data emphasized the importance of setting a global standard for cryptocurrency access, transparency, and innovation, while empowering users worldwide [5]. - The DEX is expected to launch in early 2026, following a global node deployment and final smart contract audit [6]. Group 3: Company Overview and Future Plans - Hyperscale Data operates a data center that mines digital assets and offers colocation and hosting services, with plans to divest its subsidiary ACG by December 31, 2025 [8][9]. - Post-divestiture, the company will focus on data center operations to support high-performance computing services while potentially continuing its involvement in the digital asset space [9].
Momentum Financial Services Group Secures C$657.9 Million Loan Facility Renewal with Ares Management to Support Growth
Prnewswire· 2025-06-24 12:00
Core Viewpoint - Momentum Financial Services Group has successfully renewed and expanded its secured loan facility with Ares Management Alternative Credit funds, increasing the commitment from C$575 million to C$657.9 million, which will support its growth and liquidity needs [2][3][4]. Group 1: Company Overview - Momentum Financial Services Group is a leading provider of accessible financial solutions, operating over 360 stores in Canada and 60 in the United States under the Money Mart® and The Check Cashing Store® brands [5]. - The company specializes in flexible omni-channel solutions, including personal loans, cheque cashing, money transfers, and currency exchange [5][6]. Group 2: Financial Strategy - The expanded credit facility will provide additional capital to fund Momentum's growing loan receivables portfolio and meet the financial needs of its North American customers [3][4]. - The additional funds will be utilized to repay the existing 2023 secured loan facility and support further expansion in eligible loan receivables [3]. Group 3: Leadership and Partnerships - CEO Peter Kalen emphasized that the partnership with Ares Management is crucial for future growth and meeting rising demand for financial solutions [4]. - Ares Management Corporation, as a scaled capital provider, aims to support the continued growth of Momentum and its consumer loan portfolio [4][7].
Currency Exchange International Reports Second Quarter 2025 Results
Globenewswire· 2025-06-11 22:49
TORONTO, June 11, 2025 (GLOBE NEWSWIRE) -- Currency Exchange International, Corp. (the “Group” or “CXI”) (TSX: CXI; OTCQX: CURN), today reported net income of $1.98 million for the second quarter of 2025, 291% higher than the prior year (all figures are in U.S. dollars except where otherwise indicated). This 2025 reported net income reflected $2.7 million net income from continuing operations and a net loss of $0.7 million from Exchange Bank of Canada, the Company’s Canadian subsidiary which was classified ...
Currency Exchange International to Report its Second Quarter 2025 Results on June 11, 2025, and Host Earnings Conference Call on June 12, 2025 at 8:30 AM EST
Globenewswire· 2025-06-04 20:00
TORONTO, June 04, 2025 (GLOBE NEWSWIRE) -- Currency Exchange International, Corp. (the “Company”) (TSX: CXI; OTCQX: CURN), will report its financial results for the Second Quarter of 2025 (ended April 30, 2025) after-market close on Wednesday, June 11, 2025. Following the release, Currency Exchange International Corp. will host an earnings conference call with management on Thursday, June 12, 2025 at 8:30 a.m. EST, in which they will discuss these recent financial and operational results. CXI Second Quarter ...
5 Top S&P 500 Financial Stocks That Bucked the "Sell in May" Trend
ZACKS· 2025-06-03 14:10
Market Overview - Wall Street's seasonal adages have not held true this year, with April ending on a mixed note and May showing impressive gains in U.S. stock markets [1][2] - All three major indexes finished May in the green, with the Dow rising 3.9%, the S&P 500 climbing 6.2%, and the Nasdaq Composite jumping 9.6%, marking their best monthly performances since November 2023 [2] Financial Services Sector Performance - The Financial Services sector was one of May's top performers, up 4.5%, with notable stocks including Coinbase Global, Northern Trust, BNY Mellon, Franklin Resources, and Bank of America [3][9] - Coinbase is positioned to benefit from heightened crypto market volatility and rising asset prices, with 83% of its total revenues coming from the U.S. market [7][10] - Northern Trust is leveraging organic expansion efforts and has launched Family Office Solutions targeting ultra-high-net-worth clients, which is expected to enhance its Wealth Management segment [12][13] - BNY Mellon is focusing on international growth initiatives and has seen a five-year CAGR of 6.2% in net interest income, with expectations for continued improvement [18][19] - Franklin has grown through acquisitions and partnerships, enhancing its presence in alternative investments and multi-asset solutions [22][23] - Bank of America is expected to benefit from higher interest rates, with a projected 6-7% rise in net interest income for 2025, supported by aggressive branch expansion [26][28] Company-Specific Insights - Coinbase is investing in infrastructure to expand crypto's practical use, including a low-cost Layer 2 scaling solution [8] - Northern Trust is focused on disciplined headcount management and process automation to improve productivity and meet financial targets, achieving a return on equity of 13% in Q1 2025 [14][15] - BNY Mellon is facing challenges with rising expenses and volatility in fee income, which constitutes almost 70% of total revenues [20] - Franklin's diversification into alternative asset classes is expected to drive assets under management growth, although market fluctuations pose risks to investment management fees [24][25] - Bank of America is enhancing its digital offerings and cross-selling products through initiatives like the Zelle money transfer system and the digital assistant Erica [29]
Currency Exchange International Corp. Commences Trading on the OTCQX Market Under the Symbol CURN
Globenewswire· 2025-05-20 11:30
TORONTO, May 20, 2025 (GLOBE NEWSWIRE) -- Currency Exchange International Corp. (TSX: CXI; OTCQX: CURN) (the "Company" or the "Group"), a leader in comprehensive foreign exchange technology and processing services is pleased to announce that, effective today, the Company's common shares will commence trading on the OTCQX® Best Market ("OTCQX") under the symbol CURN. Currency Exchange International Corp upgraded to the OTCQX from the Pink® market. Currency Exchange International Corp. will maintain its prima ...