Swiss banking giant UBS reportedly plans to begin offering cryptocurrency trading in response to growing demand from wealthy clients. UBS has been considering partners for this push into crypto for months but has not yet made a decision, Bloomberg reported Friday (Jan. 23), citing unnamed sources. The crypto offering would begin with select clients The post UBS Considers Offering Crypto Trading Through Private Bank appeared first on PYMNTS.com.

The cryptocurrency industry is changing its tack. Stakeholders across the digital asset ecosystem are no longer arguing that the old financial system should be replaced. Instead, they are trying, more pragmatically, to plug into the machinery that already exists. The clearest signals of the sector’s maturation came not from a startup demo day, but The post This Week in Stablecoins: Payment Pain Points, Tokenization and Davos appeared first on PYMNTS.com.

TikTok will continue to operate in the United States as a new, majority American-owned joint venture called TikTok USDS Joint Venture LLC. The joint venture has three managing investors—Silver Lake, Oracle and MGX—each of which holds 15%, it said in a Thursday (Jan. 22) press release. Its China-based former owner ByteDance retains 19.9% of the joint venture, with the remainder The post TikTok Continues Operations in US as New Joint Venture appeared first on PYMNTS.com.

Citigroup reportedly plans to lay off an unspecified number of employees in March after cutting about 1,000 jobs this month. The March layoffs are likely to involve managing directors and senior employees across the bank’s business lines, but the scale and location of the cuts are not yet known, Reuters reported Friday (Jan. 23), citing unnamed sources. The post Citigroup to Lay Off Managing Directors and Senior Employees in March appeared first on PYMNTS.com.

Capital One’s acquisition of Brex, announced Thursday (Jan. 22), signals that the economics and mechanics of commercial card issuance are changing. As commercial cards move beyond travel and entertainment into core payables, procurement and supplier payments, the burden of running modern card programs for smaller issuers has grown heavier. In essence, Capital One is The post Capital One’s Brex Deal Signals a Structural Shift in Commercial Cards appeared first on PYMNTS.com.