SAN FRANCISCO - FEBRUARY 25: Visa credit cards are arranged on a desk February 25, 2008 in San Francisco, California. Visa Inc. is hoping that its initial public offering could raise up to $19 billion and becoming the largest IPO in U.S. history. (Photo Illustration by Justin Sullivan/Getty Images)Getty ImagesVisa (V) stock may represent a good buying opportunity at this moment. Why? Because it offers high margins – indicative of pricing power and efficiency in cash generation – at a lower price. Companies ...

Core Viewpoint - Chime Financial, a fintech company, has shown growth potential despite a recent stock price decline since its IPO, which may present a buying opportunity for long-term investors [1][2]. Business Model - Chime offers no-fee checking and savings accounts, overdraft protection, early-pay features, and a Visa debit card with access to over 50,000 ATMs [3][4]. - The company primarily targets lower-income users who may not qualify for traditional banking services, helping them build credit scores through its credit card offerings [4]. Financial Performance - Chime's market capitalization is $7 billion, with a current stock price around $17.80, down from its IPO price of $27 [5][6]. - Key financial metrics for 2023 and 2024 show growth in active members, purchase volume, and revenue, although there was a sequential decline in purchase volume and average revenue per active member (ARPAM) in Q2 2025 [8]. - Revenue for 2024 is projected to rise by 28% to 29%, with an adjusted EBITDA margin expected to expand to 4% [10]. Growth Projections - Analysts forecast a compound annual growth rate (CAGR) of 23% for Chime's revenue from 2024 to 2027, reaching $3.1 billion, with adjusted EBITDA turning positive in 2025 [11]. - If Chime meets these projections and achieves a CAGR of 20% through 2031, its stock could potentially increase nearly sixfold, raising its enterprise value to $32.2 billion [13]. Competitive Landscape - Chime faces competition from other fintech applications like PayPal and Block's Cash App, but there remains significant market potential for these platforms to coexist and attract lower-income customers from traditional banks [12].

HashKey链上事业群首席执行官李晨接受证券时报记者采访时表示，传统机构进军数字金融仍面临监管 复杂、技术门槛高、运维不畅、落地周期长等问题，HashKey CaaS将提供系统性解决方案，打造"合规 友好、技术可靠、运营顺畅"一体化接入通道。 香港金融科技周如火如荼地进行，香港本地金融科技企业也在密集推出新服务吸引更多的用户。11月4 日，香港数字资产金融服务集团HashKey Group（"HashKey"）宣布正式推出一站式服务平台—— HashKey Crypto-as-a-Service（CaaS），旨在"降低Web3接入门槛，连接传统金融与数字金融"，助力传 统金融机构快速、安全、合规友好地进入数字资产新时代。该公司还宣布，和上海商业银行联手推出亚 洲首批银行和持牌数字资产交易所联营的Visa信用卡。 HashKey表示，新服务平台将依托集团重点打造的RWA和金融公链HashKey Chain，整合HashKey Group 链上服务、资产代币化、流动性、机构级托管与安全体系等核心能力，助力金融机构以更低成本、更短 周期、更高效率完成数字资产业务布局。 据了解，HashKey和上海商业银行将对信用 ...

Core Viewpoint - Chime, a fintech company, has significant growth potential despite its stock trading below its initial public offering price, warranting a closer examination of its business model, growth rates, and valuations [1] Business Model - Chime operates as a mobile-first banking service provider, partnering with FDIC-insured banks to manage customer deposits, offering features like free checking and savings accounts, overdraft protection, and early pay access [3][4] - The company primarily targets lower-income users who may not have access to traditional banking services, providing tools that cater to those living paycheck to paycheck [4] - Chime generates revenue mainly through interchange fees from Visa debit and credit card transactions, retaining up to 1% of the fees charged to merchants [6] Growth Rates - In 2023, Chime's revenue increased by 27% to $1.28 billion, with a gross margin of 83% and a narrowed net loss from $406 million to $189 million [9] - The number of active members grew by 25% to 6.6 million, with an average revenue per active member (ARPAM) improving slightly from $210 to $212 [10] - For 2024, revenue rose by 31% to $1.67 billion, gross margin increased to 88%, and net loss further narrowed to $25 million, with active members reaching 8 million and ARPAM jumping 16% to $245 [11][12] Valuations - In Q1 2025, Chime's revenue grew by 32% year over year to $519 million, with an adjusted EBITDA margin of positive 5% and active members increasing to 8.6 million [13] - Analysts project Chime's revenue to rise by 26% to $2.1 billion for the full year, with a positive adjusted EBITDA of $53 million, and expect a CAGR of 19% for revenue and 175% for adjusted EBITDA from 2025 to 2027 [14] - With an enterprise value of $10.1 billion, Chime's valuation stands at 4 times next year's sales and 43 times its adjusted EBITDA, indicating it may be a long-term investment opportunity in the growing market for banking services aimed at unbanked and underbanked individuals [15]