BNY has debuted a real-time reporting tool (Digital Assets Data Insights) in partnership with Blackrock. The fact that these two financial giants are collaborating on an on-chain valuation and reporting tool is set to have substantial effects on the crypto accounting and reporting conversation moving forward. Put simply, this tool will allow the posting of net-asset-value data directly on to select blockchains without relying on third-party accounting services. The involvement of on-chain money market fund, BUIDL, managed by Blackrock in addition to being the leading partner on this initiative, also highlights the growing importance of on-chain assets. One of the key aspects of BNY’s efforts is the connection that will be established between on-chain assets and off-chain data across blockchain networks. Specifically, and leveraging the data already managed on-chain by BNY, the institution will be able to broadcast select accounting data to the Ethereum network, amplifying the ability of investors to leverage public blockchain traceability and transparency. By also integrating smart contract functionality, customers will be able to automate data analytics and better integrate off-chain data and information alongside how public blockchains are used. In short the efforts underway at BNY have the potential to unlock better transparency, traceability, and insights for tokenized products whether or not said instruments are stored on-chain or secured via off-chain mechanisms. These values of tokenized funds being posted directly on-chain also have the potential to accelerate conversations related to accounting, reporting, and disclosures. Benefits of the collaboration include: include 1) the ability of BNY to post NAV figures directly on chain, 2) enhanced credibility of tokenized funds thanks to increased transparency and real-time information, and 3) the ability of other products to benefit from more comprehensive suites of tools tailor made for tokenized information. The launch of the partnership also reinforces the rise of tokenized assets and other data, outside of traditionally decentralized instruments such as bitcoin and ether. While the project itself is still in early stages the implications of this real-time reporting and disclosure capability are significant in terms of allowing further maturation of tradeable products and services.
J P Morgan Chase’s new GBP-denominated Blockchain Deposit Accounts can integrate same-day and near-real-time settlements and enable seamless cross-border and programmable transactions
In a move signaling intensified competition in the cross-border payments space, J.P. Morgan Chase has introduced GBP-denominated Blockchain Deposit Accounts for its Kinexys Digital Payments (KDP) platform in London. The bank said it’s one of the first products of its kind in the U.K. with live corporate clients. Trading market infrastructure company LSEG is among the first to open an account. Its SwapAgent division and global commodities firm Trafigura will are the first to open London-based blockchain accounts, which aim to streamline 24/7 real-time payments and foreign exchange (FX) settlements across global financial centers. Benefits include: 24/7 Cross-Border Transactions: Clients can now seamlessly transact among USD, EUR and GBP anytime, including on weekends and beyond traditional branch cut-off times; Enhanced FX Capabilities: By integrating same-day and near-real-time settlements into its blockchain framework, J.P. Morgan Chase provides improved flexibility and speed for corporate treasury operations. “Integrating the innovative Kinexys Digital Payments blockchain deposit accounts into our SwapAgent offerings could allow us to operate beyond traditional branch cut-off times and manage settlements in a programmable manner in the future,” said Nathan Ondyak, CEO at SwapAgent. Meanwhile, Trafigura, one of the world’s largest commodities suppliers, plans to harness the London-based accounts to support 24/7 global payments across financial hubs in New York, London and Singapore. Chris McLaughlin, Global Head of Group Treasury at Trafigura, said the collaboration “will enable us with 24/7 near-real-time payments across major global financial centers” and offer greater efficiency for real-time cross-border transactions.
Visa becomes the first traditional finance incumbent to join the stablecoin consortium Global Dollar Network (USDG) that is designed to share the yield with participant firms
Visa is joining the Global Dollar Network (USDG), a stablecoin consortium convened by U.S. regulated digital asset firm Paxos, alongside cryptocurrency and fintech heavyweights like Robinhood, Kraken and Galaxy Digital. Visa is the first traditional finance incumbent known to be joining USDG. USDG is designed to share the yield with participant firms that can create connectivity and liquidity, unlike Tether, for example, which retains the interest gained from its stablecoin reserves. The stablecoin business, whose lucrative potential is opening up to more firms amid regulatory change, has been dominated by the first and second largest issuers of USD-pegged tokens, Tether’s USDT and its smaller sibling Circle with USDC. The large card networks have been busy partnering in the crypto space.
Kraken expands beyond digital assets and rolls out commission-free trading for more than 11,000 US-listed stocks and exchange-traded funds through a brokerage partnership with Alpaca’s API platform
Kraken has partnered with financial API platform Alpaca to offer stocks and ETFs trading in some U.S. states. The phased roll-out features commission-free trading for over 11,000 U.S. listed stocks and ETFs. Kraken’s expansion comes amid high expectations of Trump’s promise of crypto-friendly regulations. The San Fransisco-based crypto exchange plans to expand stock trading to key international markets, including the UK, Europe, and Australia. Kraken’s partnership with Alpaca will enable clients to manage both stocks and cryptocurrencies on one platform, allowing them to cross-invest. This move is part of a strategy used by technology firms and crypto companies to gain credibility with customers.
EBay’s new AI feature lets sellers upload product image batches and generate draft listings that detail suggested categories, titles and other item specifics
EBay is continuing to simplify sellers’ experience with its latest tool that uses AI to build out listing details from a product image on mobile. To list items, users now begin with a photo and title. EBay’s AI suggests product details and categories using AI automation to maximize image match and inference capabilities. Sellers then review and approve content. EBay’s early testing in the U.K. found that the tool reduced total listing steps by half and led to faster list times. The tool is available on eBay’s mobile app in the U.S., U.K. and Germany for private sellers. EBay wants to make the listing process more efficient for sellers with its AI integration initiatives. The new tool further uses its magical listing feature in an effort to speed the listing process. With magical bulk listing, sellers can upload product image batches for eBay to generate draft listings that detail suggested categories, titles and other item specifics. EBay is using AI to elevate the selling and buying experience into one that is personalized, seamless, and efficient — a strategy that is already delivering measurable results.” The company said it plans to expand the feature to sellers using business tools.
Google’s AI Mode to let users launch the generative experience from the Search bar on Android with a tap and upload from gallery or take a new picture using integrated Lens
As AI Mode testing continues, Google is trialing a new way to launch the generative experience from the Search bar on Android. Google is now testing a prominent AI Mode circle directly in the Search field. Replacing the voice and Lens icons at the right, a tap lets you immediately start typing. The “Ask AI Mode” field last week gained Google Lens integration with the ability to upload from your gallery or take a new picture. This design replaces the colorful carousel with three shortcuts to start voice search, launch Google Lens, or jump directly to your gallery for a visual lookup. Right now, we’re only seeing this design on one device. Free users in the US can now sign-up for AI Mode via Search Labs. On iOS, you can now launch AI Mode from the customizable homescreen widget. That is presumably coming to the Android version, which recently picked up two new shortcuts for quick access to News and Saved (in light of Activity replacing it as a tab in the bottom bar).
Samsung Wallet starts trial run for the early access to a BNPL feature that leverages Galaxy device’s NFC capabilities
Samsung has started a trial run for a familiar feature in its Wallet app for users in the U.S. A recent email highlights the feature’s upcoming rollout, thanks to its partnership with Splitit for “Installment Payments.” The Early Access Program for BNPL starts on April 28 and runs until June 6 in the U.S. While the feature will leverage your Galaxy device’s NFC capabilities, there are extra details Samsung is highlighting. First, users must have attached an “eligible card” and live in an “eligible state” to participate in the trial run. BNPL only accepts Visa and Mastercard payment options. Additionally, users in Arizona, Idaho, Kansas, Louisiana, Maryland, Michigan, Montana, New Hampshire, North Dakota, Oklahoma, Oregon, Tennessee, Utah, and Wyoming are eligible to sign up for the test. It seems that only users in these states will notice the Early Access sign-up button in Samsung Wallet. Users interested in participating can join the waitlist in-app, which will keep them in the loop about their potential acceptance when the time comes later in April.
Hilton automates the integration of corporate virtual card payment details into its property management system via API to offer smooth check-in and streamline spend reconciliation
Hilton Worldwide has agreed to enable access to its property management systems to allow the transmission via application programming interface of single-use virtual card numbers generated by Conferma. The move will allow hotel personnel to confirm for travellers booking through Conferma’s platform the authorised use of a virtual card number within the PMS itself while avoiding the need to use email or a fax machine to do so, long a hurdle to virtual card acceptance for hotel payment.
Hilton is advancing the business travel industry as the world’s first hotel group to automate the integration of virtual card payment details into its property management system. This technology will be implemented in thousands of Hilton properties globally, creating a more efficient and secure experience for business travelers and corporations around the world. Bookings made through Conferma’s platform generate a unique virtual card number, which will now be shared securely with Hilton’s property management system via API. This solution enhances the check-in process and guest experience by:
- Streamlining the check-in process for travelers using virtual card payments, ensuring instant access to payment details within Hilton’s property management system.
- Eliminating the need for physical cards, with 79% of travel buyers viewing single-use virtual cards as effective in preventing fraud by external parties such as hackers or thieves.
- Helping to automate B2B payments, streamlining spend reconciliation, reducing manual work, and minimizing customer friction.
Sam Club’s store remodeling to include new formats such as an omnichannel showroom with dedicated space for online exclusives, Scan and Go tech, a sushi island and a full-service pharmacy, optical and hearing centers
Sam’s Club wants to increase competition with warehouse rivals Costco and BJ’s Wholesale Club. Sam’s Club CEO Chris Nicholas said that he wants to remodel all of its around 600 existing locations. Notably, the chain has set plans in motion to double its membership, sales and profits over the next decade. It’s looking at strong growth from its e-commerce operations and a recent pivot by U.S. consumers to discount clubs to help their dollar spread further. Nicholas said that the company is confident of seeing strong returns in sales and in membership income as it remodels Sam’s Club’s entire store estate. Sam’s Club CFO Todd Sears said that between 80% and 90% of Sam’s Club’s profits come from membership fees, while half of the company’s members either shop online or use the retailer’s Scan and Go technology when they are shopping in its physical locations. He added that around 40% of the transactions Sam’s Club now records are digital, with that provision including its Just Go exit technology and personalized, AI-driven advertising. The pivot to omnichannel is important. Consumers who use Sam’s Club’s online tools shop three times more often than customers who only make purchases in physical locations, buy products from twice as many categories and spend three times as much as other customers, according to Tom Ward, Sam’s Club’s end-to-end chief operating officer. As part of its remodeling and trials of new formats, in the fall Sam’s Club reopened its Grapevine Sam’s Club, with a new “dance floor” and an omnichannel showroom to “reimagine the member shopping experience and give members a new way to interact with items.” Replacing registers is a space where members can explore online exclusives, use Scan and Go to add items to their cart, and ship purchases directly to their doorstep. The new Sam’s Club offer also includes a sushi island and home meal solutions, plus a full-service pharmacy, optical, and hearing centers.
Lowe’s taps into EA Sports’ broadcast overlay that dynamically showcases crowd excitement and real-life interactive gaming experience to position its loyalty platform in NFL games
Lowe’s Companies Inc. is collaborating with EA Sports, a subsidiary of digital interactive entertainment company Electronic Arts Inc. to be featured in multiple EA Sports digital game titles for the first time. This collaboration will position the retailer and its MyLowe’s Rewards loyalty platform uniquely in each game with branding across multiple gameplay experiences. In “EA Sports College Football 26,” Lowe’s will be featured on the broadcast overlay of the Stadium Pulse placement, which dynamically showcases and builds crowd excitement as gameplay improves. In addition, “EA Sports FC” and “Madden NFL” will enable players to engage with in a future title for each franchise through team challenges that offer rewards. To further extend opportunities for consumers to engage with the Lowe’s brand and “Madden NFL,” Lowe’s will also launch a real life “On the Road” interactive gaming experience that consumers can engage with as it travels around the country later this year and throughout the 2025-26 NFL season.