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Neobank Revolut has launched a new feature allowing 1:1 conversions between USD and stablecoins for its 65 million users. With this option, customers can exchange up to $578,630 every 30 days without facing any fees or spreads. Leonid Bashlykov, Revolut’s head of product in crypto, emphasized that this initiative aims to eliminate the complexities of moving between fiat and cryptocurrency. The new offering includes access to Circle’s USDC and Tether's USDT across six blockcha

Revolut is pursuing its own bank charter in the U.S. to gain direct access to regulators, according to Sid Jajodia, the fintech's U.S. CEO. Speaking at the Money 20/20 conference in Las Vegas, Jajodia emphasized that while partnerships with banks work well, they can limit engagement with regulators when issues arise, which he sees as essential for business operations. Revolut currently partners with Lead Bank in Kansas City, Missouri. Source: bankingdive.com

Cohere, a Toronto-based startup focused on large language models for businesses, aims to elevate its status in the AI industry with a new high-profile hire and a recently appointed CFO. The company's current valuation stands at $7 billion, signaling its ambition to shift from an underdog to a major player in the market. The company emphasizes a strategy of prioritizing "ROI over AGI," reflecting its goal to deliver tangible returns on investment for clients. Source: biztoc.co

Shares of Rubrik, Inc. (NYSE:RBRK) have received a consensus rating of "Moderate Buy" from 18 brokerages. Among these, three analysts suggest holding the stock, while 15 recommend buying. The average target price from these analysts is approximately $100.38. Several research reports have impacted Rubrik's market outlook. UBS Group affirmed their "buy" rating, while Wedbush increased their target price from $80 to $120 with an "outperform" rating. Cantor Fitzgerald and Robert

Rubrik (RBRK) stock experienced a significant decline on Wednesday after the company reported a narrower-than-expected second-quarter loss, despite revenue exceeding expectations. The tech firm announced a loss of 3 cents per share on an adjusted basis for the quarter ending July 31, improving from a 40-cent loss a year earlier, while revenue grew 51% to $310 million, surpassing analyst estimates of $282.2 million. Source: investors.com

Revolut has announced plans to launch its services in the UAE after receiving approval from the Central Bank of the United Arab Emirates. This expansion represents a significant move for the fintech company, which aims to tap into the growing demand for digital banking solutions in the region. The Central Bank's approval allows Revolut to offer a range of financial services, including banking and investment products. Source: biztoc.com