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The Federal Deposit Insurance Corporation (FDIC) plans to propose rules saying that stablecoins are not eligible for FDIC pass-through insurance, and that tokenized deposits are eligible for such insurance.
FDIC Chairman Travis Hill said this on Wednesday (March 11) in a speech delivered at the American Bankers Association’s Washington Summit.
With pass-through insurance, deposits...
Digital assets are reshaping U.S. financial services, and their impact can be traced by the wake of new banking charter applications.
The U.S. Office of the Comptroller of the Currency (OCC) is receiving so many applications for digital asset-focused national trust charters that a lobbying group for the traditional financial sector, the Bank Policy Institute (BPI), is considering suing...
OppFi is keeping an eye on the gas pump as it enjoys record revenues.
The personal loan platform reported annual earnings Wednesday (March 11) showing its income up 74.4% year over year to $146.2 million, an all-time high.
But during an earnings call with analysts, management faced questions about the macroeconomic forces facing its borrowers. This includes the impact of rising gas...
Claude for Excel and Claude for PowerPoint now share full context across open files and allow users to save skills that make processes repeatable in the future.
Anthropic announced these features in a Wednesday (March 11) blog post, saying they enable users to complete tasks faster.
Claude’s ability to pass context across multiple Excel and PowerPoint files in one conversation ensures...
McDonald’s is reportedly planning to lower the cost of its value meals even further.
Beginning next month, the fast food giant will debut a series of new discounts that include meals that cost $3 and less, The Wall Street Journal (WSJ) reported Wednesday (March 11), citing sources familiar with the matter.
“We have achieved incredible progress together and remain committed to meeting...
Mind Robotics has raised $500 million to develop what it calls “AI-enabled” robotic systems.
The company’s Series A round, expected to close later this month, follows $115 million in seed funding Mind received last year, the startup said in a Wednesday (March 11) news release.
The company, founded and led by Rivian CEO RJ Scaringe, said it was created to address a need it sees in today...
OpenAI is shifting the focus of its commerce efforts to retailers’ ChatGPT apps after scaling back its plans to sell products directly through ChatGPT checkouts, The Information reported Wednesday (March 11).
An OpenAI spokesperson said this approach will give merchants greater control over the purchasing experience, according to the report.
The shift to in-app purchases has presented...
Wells Fargo has filed a trademark application for “WFUSD,” a new digital asset-centric platform.
WFUSD would provide services “featuring software for tokenization of assets” and “cryptocurrency payments processing” and would “execute trades of digital assets,” the banking giant said in a filing Tuesday (March 10) with the U.S. Patent and Trademark Office.
The filing was flagged in a ...
The supply chain is undergoing a structural transformation that goes well beyond the automation wave of the past decade. Across distribution centers, planning systems and logistics networks spanning dozens of companies, artificial intelligence (AI) is moving from a tool that assists human decisions to a system that makes them, and in some cases, executes them without waiting for a person to sign...
Revolut’s long journey to obtaining a U.K. banking license has reached its end.
The London-based FinTech announced Wednesday (March 11) that it had landed regulatory approval from the Prudential Regulation Authority (PRA) to launch as a bank in Great Britain.
Revolut has technically been licensed since July of 2024 — after undergoing a three-year wait — but has spent nearly the last...