Why PayPal’s Cross-Border Stablecoin Solution Should Be Bigger News

When PayPal recently announced that its cross-border money transfer platform, Xoom, would now support the PayPal USD (PYUSD) stablecoin, reactions were largely muted. While PayPal’s history with crypto has been somewhat shaky, it’s clear that the company is taking deliberate steps to fuel cryptocurrency adoption. PYUSD is a stablecoin that is based on the U.S. dollar, and […]

Tesla slides 3% in premarket, Li Auto sinks 8% as EV makers slash prices amid fierce competition

Tesla shares sank in premarket trading on Monday, while China’s Li Auto plummeted to an 11-month low, after both companies slashed prices of their electric vehicles in various markets amid intense competition. U.S. EV giant Tesla cut the starting price of its Model 3 in China to 231,900 yuan ($32,000) on Sunday, a reduction of 14,000 yuan, as reported by Reuters. […]

Stock futures rise slightly with S&P 500, Nasdaq on six-day losing streak

Stock futures pushed higher Monday as Wall Street looks to find its footing following a steep sell off for tech companies. Futures the S&P 500 rose 0.4%. Nasdaq 100 futures gained 0.5%, while those for the Dow Jones Industrial Average added 158 points, or 0.4%. The S&P 500 and Nasdaq Composite fell 3.05% and 5.52% last week, and are each on six day losing streaks. […]

German Federal Bank LBBW in Crypto Partnership With Bitpanda

Germany’s largest federal bank, LBBW, signs a strategic partnership with Bitpanda to onboard investing-as-a-service infrastructure for crypto custody. Landesbank Baden-Württemberg (LBBW), the largest federal bank in Germany, has signed a strategic partnership with Bitpanda to leverage its investing-as-a-service infrastructure to store and procure cryptocurrencies including Bitcoin and Ethereum. LBBW’s latest collaboration comes as it aims […]

Fintech 10x Banking and Deloitte Sign US, UK Alliance

Cloud-native SaaS core banking platform 10x Banking partners with Deloitte in US and UK strategic Alliance Agreements, creating 10x Centres of Excellence 10x Banking, the cloud-native SaaS core banking platform, and Deloitte have announced strategic Alliance Agreements in the US and UK to strengthen cooperation in delivering technology-enabled transformation to financial institutions worldwide. The alliance […]

TSMC’s shares slide nearly 7% in Taipei on global chip outlook concerns

TAIPEI (Reuters) -TSMC’s Taipei-listed shares tumbled 6.7% on Friday following the company’s first-quarter earnings report in which it dialled back its expectations for chip sector growth and did not revise up its capital spending plans, contrary to expectations. Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest contract chipmaker, forecast second-quarter sales may rise as much […]

Fed Chair Powell says there has been a ‘lack of further progress’ this year on inflation

Federal Reserve Chair Jerome Powell said Tuesday that the U.S. economy, while otherwise strong, has not seen inflation come back to the central bank’s goal, pointing to the further unlikelihood that interest rate cuts are in the offing anytime soon. Speaking to a policy forum focused on U.S.-Canada economic relations, Powell said that while inflation continues to make its […]