This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. The Board of Governors of the Federal Reserve System this week said it plans to appeal a U.S. district court decision that vacated its regulation of debit card transaction fees. The Fed filed the notice Monday, according to the U.S. District Court for North Dakota, where the case was initially filed, and an entry with the Eight Circuit Court of Appeals docket.  In ...

Group 1: Company Overview - World Liberty Financial, a crypto venture backed by the family of U.S. President Donald Trump, plans to launch a debit card to connect crypto assets with everyday spending [1] - The CEO, Zach Witkoff, announced a pilot program for the debit card in the next quarter, with a full launch expected in Q4 2025 or Q1 2026 [1] Group 2: Tokenization and Asset Management - World Liberty Financial is considering tokenizing assets such as real estate and oil and gas, with their tokens, known as $WLFI, launched at the beginning of the month [2] - The company views commodities like oil, gas, cotton, and timber as areas of interest for trading on blockchain due to increased efficiency [2] Group 3: Financial Services Innovation - The company aims to provide access to financial services without intermediaries like banks and plans to launch a dollar-pegged stablecoin, USD1, backed by U.S. Treasuries and cash equivalents [3]

Core Insights - Tokenwell Platforms has appointed Matthew Lee Morgan as a strategic advisor to enhance its institutional reach in the cryptocurrency investment space [1][5] - Morgan's experience in fintech and digital assets is expected to contribute significantly to Tokenwell's growth and innovation [2][5] Group 1: Appointment and Role - Matthew Lee Morgan will focus on three main areas: refining the company's basket strategy, expanding integrations with other platforms, and developing institutional-grade products [3][4] - The basket strategy will involve creating managed crypto baskets utilizing AI-optimized portfolios and rebalancing algorithms to address market volatility [3] - Morgan aims to secure additional partnerships beyond Coinbase and Crypto.com by the second quarter of 2026 [4] Group 2: Growth Ambitions - Tokenwell's appointment of Morgan reflects its ambition to combine experienced professionals and the latest advancements in the crypto space for global growth [5] - Morgan has been granted 1.5 million restricted share units as part of Tokenwell's equity incentive plan, indicating the company's commitment to leveraging his expertise [5] Group 3: Related Developments - World Liberty Financial, where Morgan is a co-founder, plans to launch a debit card and retail app, integrating stablecoin into everyday payments [6][7] - The retail app is designed to combine peer-to-peer transfers with trading features, likened to "Venmo meets Robinhood" [7]

Payment Card Transaction - An authorized transaction refers to a debit or credit card purchase where the merchant has received approval from the issuing bank [1]

Financial Data and Key Metrics Changes - Adjusted EBITDA grew 9% on a comparable basis and adjusted EPS increased 20% [5][21] - Global RevPAR grew 2% in constant currency, with U.S. RevPAR starting strong but softening in February and March [6][8] - Free cash flow was $80 million, converting from adjusted EBITDA at approximately 55% [22] - The company returned nearly $110 million to shareholders through share repurchases and dividends [6][22] Business Line Data and Key Metrics Changes - Fee-related and other revenues increased by $12 million year over year, driven by a 9% increase in royalties and franchise fees [21] - Ancillary revenue growth was primarily driven by higher credit card and partnership fees [21][18] - The company opened 15,000 rooms, a 13% increase from the previous year, and signed 6% more deals than a year ago [14][15] Market Data and Key Metrics Changes - Latin America RevPAR grew by 25% excluding Argentina's hyperinflation, while EMEA RevPAR rose 6% [7] - International RevPAR grew in all regions except China, where it declined by 8% year over year [7] - U.S. RevPAR is expected to decline about 3% for the remainder of the year based on recent trends [24][42] Company Strategy and Development Direction - The company focuses on growing its system and supporting franchisees, with a strategic emphasis on higher fee par hotels [12][17] - The development pipeline reached a record 254,000 rooms, with a significant increase in net room growth across all regions [14][15] - The company is prioritizing development in higher RevPAR markets and is selective about capital deployment [72][73] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the resilience of their business model during economic downturns, citing historical outperformance [10][11] - The outlook for 2025 has been refined to reflect a more cautious view of industry-wide RevPAR performance, with expectations ranging from down 2% to up 1% [24][25] - Management noted that consumer sentiment is currently weighing on leisure occupancy, but there are signs of positive momentum as summer approaches [41][42] Other Important Information - The company was named one of the world's most ethical companies for the third consecutive year [19] - The company continues to invest in technology innovations to enhance service and operational efficiency [109] Q&A Session Summary Question: Can you elaborate on the changes in the U.S. RevPAR outlook? - Management noted that normalized April demand improved, with RevPAR running about a full point ahead of the prior year, indicating potential for a positive summer [35][36] Question: What is the long-term outlook for net room growth? - Management reaffirmed a long-term net room growth outlook of 3% to 5%, with a record first quarter in room openings and strong signings [47][49] Question: How is the company managing development costs amid rising prices? - Management highlighted efforts to shift sourcing closer to home and negotiate with suppliers to mitigate cost increases, particularly in construction materials [61][62] Question: What is the outlook for ancillary revenue growth? - Management continues to expect low teen growth for ancillary revenues, driven by contract-based income and a strong co-branded credit card program [92][94] Question: How is the company addressing infrastructure demand? - Management reported a steady demand for infrastructure-related travel, with expectations for continued growth driven by federal spending on infrastructure projects [100][102]