Wells Fargo to roll out tokenised deposits for corporate clients
Wells Fargo is introducing tokenised deposits for corporate and commercial clients, enabling them to move, programme and settle funds 24/7.
TS Imagine brings prediction markets data to trading desks
TS Imagine is to feed trading desks with prediction market data to help institutions assess and test market moving probability scenarios.
Mastercard and Pexa explore synchronised settlement for homebuying
Mastercard is working with Pexa to test programmable account-to-account payments to ensure synchronised settlement for homebuying in the UK.
Leverate Moves to Exit Belarus's Forex Market. The Licence Is Still Active
Leverate Capital Markets has ended its membership in Belarus's ARFIN association, which cited the completion of the firm's activities in the country. The National Bank of Belarus, however, still lists the company as an active forex licence holder, with no sign of the exit in the official register.Be
75% of Kalshi Users Never Trade, but Platform Still Intends to Capitalise on That
Kalshi says roughly three-quarters of its users have never deposited funds, using the platform to track prices rather than trade them. This is a pattern prediction market platforms are building their products now.Kalshi's new Public Companies Hub, launched this week, is the latest sign that data and
Borderless.xyz and Mastercard partner on cross-border stablecoin payments
Borderless.xyz will explore how Mastercard Crypto Credential can help bring greater trust and confidence to cross-border stablecoin payments.
Jamie Dimon recruits bank and IT leaders to tackle AI risks
JPMorgan Chase CEO Jamie Dimon has been working to recruit banking and IT CEOs to an industry group focused on addressing the risks posed by rapid adoption of AI in corporate America, according to Reuters.
Banking
Augustus gets FDIC nod to launch bank
Among stipulations of the approval, the clearing bank must launch with $73,660,000 or more in capital funds and maintain a 10% or greater leverage ratio throughout its first three years.
Revolut Discusses a $500 Billion Founder Award. The Talks Start Before Its $200 Billion IPO Target Is Reached
Revolut is in talks with investors to build a new staged incentive scheme for chief executive Nik Storonsky, one that would trigger at a $500 billion valuation, the Financial Times reported, citing people familiar with the matter. The talks are underway while Revolut's most recent secondary round v
Interactive Brokers (IBKR) Goes Dark During US Trading Hours
Many users of Interactive Brokers (NASDAQ: IBKR) reported difficulties accessing the broker's platform today (Wednesday), with posts on social media indicating login and connectivity issues during US trading hours.Finance Magnates independently verified the reported login issues after being unable t
Banking
Bank of America, USAA ink patent agreement
The deal allows each company to use the other’s full portfolio of patents. USAA for years has sued – or threatened court action against – banks it says infringe on its remote deposit capture patents.
Spotex Connects Execution Venue to BitGo Custody and Settlement Network
Spotex has connected its institutional execution venue to BitGo’s custody, settlement and prime brokerage infrastructure, becoming the latest venue to plug into the custodian’s institutional rails. The integration lets eligible institutional clients trade Spotex’s digital asset liquidity while their
Fiserv and Stuut partner to bring agentic AI to enterprise receivables
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology, today announced a strategic partnership with Stuut Technologies to help eligible enterprise finance teams modernize manual, fragmented B2B receivables processes where available.
UW Credit Union selects DNA from Fiserv
Fiserv, Inc. (NASDAQ: FISV), a global leader in payments and financial technology, today announced that UW Credit Union, one of the nation’s leading credit unions, has selected DNA from Fiserv as its future core processing platform.
Stablecoin firm Dakota applies for OCC trust banking charter
“For you, that means fewer layers between your product and the financial services underneath it,” Dakota CEO Ryan Bozarth said in a blog post.
Banking
Fed approves Santander-Webster deal
The $12.3 billion transaction – approved by the Fed 129 days after the application was filed – is expected to close Aug. 20, Santander said.
Tarus adds full Hedera technology stack support
Taurus, a leading digital asset infrastructure provider for banks and regulated financial institutions, now supports the full Hedera technology stack.
Circle unveils big name validators for Arc blockchain ahead of mainnet launch
BlackRock, the DTCC, Standard Chartered and Visa have signed on as founding validators for Circle's Arc open blockchain network ahead of a September launch for the public mainnet.
Banking
Visa, Mastercard join another stablecoin group
The card networks are keeping their options open with respect to stablecoin communities, locking arms with Circle on its latest effort.
eToro Signs Formula One Driver Pierre Gasly Following Alpine Team Partnership
eToro has announced a collaboration with Formula One driver Pierre Gasly, extending its presence in the sport through a new partnership with the BWT Alpine driver.The latest announcement builds on eToro's Formula One marketing activities. In January, the company became the exclusive trading and inve