Unseen Momentum Could Be Mounting Behind the Yuan
The U.S. dollar dominates global finance, but that dominance may face a credible challenge sooner than expected. Harvard economist Kenneth Rogoff recently suggested that the Chinese yuan could become a global reserve currency within five years, potentially rivaling even the fast-growing digital assets industry. That said, the dollar’s position remains deeply entrenched. According to data […]
Bolt, Facing Financial Struggles, Pivots from Super App to AI
Bolt, the one-click checkout solution turned financial super app that has raised nearly $1 billion in venture capital, has laid off a third of its staff and announced a pivot to AI—apparently a last-ditch effort to save the company. The layoffs come amid reports of financial strain and difficulty paying vendors. Fintech Business Weekly reports […]
ACH Is Thriving, and Banks Are Struggling to Keep Pace
Although new payments rails and formats continue to emerge, all signs point to ACH remaining the dominant payment network. In fact, volume on the network is expected to accelerate, placing a strain on many financial institutions’ longstanding payment infrastructures. In a recent PaymentsJournal webinar, Finastra’s Radha Suvarna, Chief Product Officer, Payments and Mihail Duta, Director […]