SoFi, Mastercard Launch Stablecoin Settlement Across $25 Billion Card Program
SoFi shares trade higher as Mastercard enables stablecoin settlement across SoFi Bank’s $25 billion debit and credit card program using SoFiUSD.
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Dan Loeb’s Third Point acquired approximately 2.56 million Block shares worth about $194 million as of June 30, according to the reported investment.
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SoFi shares trade higher as Mastercard enables stablecoin settlement across SoFi Bank’s $25 billion debit and credit card program using SoFiUSD.
The Nasdaq 100 fell 1.5% at midday Friday as memory chips and AI-debt names sold off, while Fed Chair Warsh declined to rule out an October hike after hot CPI and PPI. WTI held near $96, the 10-year yield hovered around 5.1%, gold bounced toward $4,200 and bitcoin traded near $81,300.
Nine of 11 sectors are higher in Friday’s regular session, with cyclical sectors holding the top three positions. The leaders are separated rather than clustered, with no single gap clearly standing apart from the other breaks across the table.
Visa shares gain about 2% as its stablecoin-enabled Visa Direct prefunding service moved into commercial use, with Inyo Global becoming the first enabler.
Hot inflation data fuels Fed rate-hike bets, hammering chip and AI-hardware stocks while the Dow tops 52,000 and small caps hold gains; gold rebounds.