International and commercial spending, along with value-added services, drove the network’s revenues.

Consumer spending remained strong, but the network is losing its hold on Capital One’s credit program.

Major financial institutions like Bank of America are exploring issuing their own stablecoins, viewing it as a crucial strategic move. Tokenization, the underlying technology, enables payment transactions to settle in seconds, automating compliance and cutting costs significantly (e.g., 40-60% in bond operations). This transforms static financial instruments into dynamic, programmable assets, appealing to a broader, potentially younger, customer base through innovations like fractional ownership. Failing to lead in tokenization risks U.S. banks losing their global market dominance, especially if retailers develop their own digital currencies, bypassing traditional payment systems. Smaller institutions can participate by partnering or leveraging existing stablecoin services from larger players.

The increased security for merchants and customers can make Skipify a more attractive payments partner

The payment network is going all in on stablecoins despite limited usage. Leaning into business and commercial payments can help the crypto asset take off.

Cross-border and B2B payments pushed up the network’s payments volume during fiscal Q2.

Fintechs can boost platform trading activity with tokenization: Republic raised $150M to add digital securities to its investing platform. These divide expensive assets into more liquid blockchain tokens.