In today’s top news, South Korea is looking for a tech partner to test a digital won, and Stripe will power payments for Twitter’s new Ticketed Spaces feature. Plus, companies can now go public on Nasdaq via direct listing.
The Bank of Korea, South Korea’s central bank, will soon take bids for a technology partner to launch a pilot program for a digital won. The program will test the practicality and effectiveness of a digital currency.
Twitter is partnering with payments provider Stripe on the launch of the social media company’s “Ticketed Spaces” feature. The feature will allow U.S. creators to host paid live audio rooms — and will give these creators a way to monetize their programs.
The Nasdaq exchange can now host direct listings of companies going public without involving investment banks under a new ruling by the Securities and Exchange Commission (SEC). This provides companies looking to go public with another alternative to an initial public offering or merging with a special purpose acquisition company.
Even as bitcoin continued to fall over the weekend, billionaire cryptocurrency fan and frequent commentator on digital currencies Elon Musk tweeted his support for cryptocurrencies over fiat currencies in response to a question about whether prior comments he made had hurt investors in the sector.
Why is it more likely that Instacart will continue to thrive as the physical economy reopens and restaurant aggregators could find themselves at risk? Karen Webster says that it’s about examining the biggest friction that each solves for the consumer — and creates (or not) for the businesses that use these digital platforms today.
Mike Blandina, managing director, head of wholesale payments technology at J.P. Morgan says that the shift to real time (from batch processes) dramatically improves corporate clients’ cash flows — and broadens the range of payments services banks can offer them. But don’t wait for “spendable crypto” anytime soon.
Whether it’s Gucci bags for sale within a video game or holding staff meetings within a 3D animated room, what the burgeoning metaverse economy currently lacks in scale it more than offsets with coolness.