Latest news with #JohnCollison
Globe and Mail
a day ago
- Business
- Globe and Mail
‘It'll Be One of the Most Important and Valuable AI Systems That Gets Built': Why Meta's Mark Zuckerberg Is Pumping Billions Into This New Tech
At a recent Stripe Sessions event, Meta CEO Mark Zuckerberg joined Stripe President John Collison to discuss the transformative power of artificial intelligence (AI) in business and the broader economy. Zuckerberg's remarks provided a candid look at how Meta Platforms (META) is leveraging AI to automate advertising and reshape enterprise workflows, with significant implications for investors and the company's stock performance. Zuckerberg's Take on AI: From Hype to Real-World Impact Zuckerberg acknowledged the rapid pace of AI development, stating, 'AI is going to transform pretty much every category of product and every part of the economy.' He addressed the ongoing debate over whether the current enthusiasm represents a bubble, noting that even if it takes five to ten years for AI to permeate every enterprise workflow, progress has consistently outpaced expectations. 'Being even more ambitious has been more predictive over the last few years about where things are likely going to be in the industry,' he said. The Future of Advertising: Fully Automated by AI Zuckerberg's most striking comments focused on Meta's vision for AI-driven advertising. He described a future where businesses no longer need to create their own ad creatives, identify target audiences, or measure campaign performance manually. Instead, 'any business can come to us and say what their objective is, how much they're willing to pay to achieve those results, connect their bank account and then we just deliver as many results as we can. I think it'll be one of the most important and valuable AI systems that gets built,' he explained. Don't Miss: Move over Netflix & Disney: This Pre-IPO Startup Is Unlocking $2 Trillion in IP & Licensing Revenue Global Content Battles Are Brewing — And This Pre-IPO Studio Just Raised $3.1M to Enter the Fight Meta's roadmap aims to enable fully automated AI advertising by 2026, allowing businesses to launch campaigns with minimal input — potentially just a business URL and a budget. AI will handle creative generation, targeting, and optimization, making advanced marketing accessible to companies of all sizes and reducing the need for specialized marketing expertise. For Investors Meta's aggressive push into AI-powered automation is a key driver behind its strong stock performance in 2025. The company's shares have surged 19% year-to-date, outperforming many of its tech peers. As of June 17, 2025, Meta's stock currently sits just under $700, reflecting investor confidence in the company's AI strategy and the broader digital advertising market. Analysts point to Meta's expanding AI capabilities and the potential for fully automated ad platforms as major catalysts for future growth. The anticipated rollout of end-to-end AI advertising solutions by 2026 could further solidify Meta's dominance in digital marketing and unlock new revenue streams. Mark Zuckerberg's comments at the Stripe event show Meta's commitment to harnessing AI for business transformation. By automating the entire advertising process, Meta aims to democratize access to marketing tools, drive efficiency, and deliver superior results for businesses and shareholders alike. As AI continues to evolve, Meta's bold strategy positions it at the forefront of the next wave of digital innovation
Crypto Insight
12-06-2025
- Business
- Crypto Insight
After stablecoin push, Stripe acquires crypto wallet developer Privy
Stripe has acquired Privy, a cryptocurrency wallet infrastructure developer, for an undisclosed amount, highlighting the global payment processor's growing pivot toward digital assets. Privy confirmed the acquisition on Wednesday in an announcement on social media that it will continue to operate as an independent product embedded within the Stripe ecosystem. As part of Stripe, Privy will 'keep building for developers building on crypto rails [but] now with more resources, flexibility, and firepower,' the company said. Bloomberg initially reported on the acquisition, though no financial terms were disclosed. While not widely known in the crypto space, Privy provides infrastructure for companies developing digital asset wallets. The company says its technology supports more than 50 million crypto wallets worldwide. Stripe eyes $250 billion stablecoin market Six years after pulling back from crypto, Stripe made a major return in October last year by allowing merchants to accept stablecoin payments through USDC. Since then, its push into stablecoin payments has gained momentum. As Cointelegraph recently reported, Stripe has rolled out stablecoin accounts to clients in over 100 countries. As of May 7, Stripe users can send and receive US dollar-pegged stablecoins much like they would with traditional bank accounts. Stripe co-founder and President John Collison told Bloomberg that, based on his conversations with global financial institutions, banks are showing growing interest in stablecoins. 'Banks are very interested in how they should be integrated with stablecoins into their product offerings as well,' said Collison. However, not everyone believes traditional banks will be quick to embrace stablecoins. NYU professor Austin Campbell recently claimed that the US banking lobby is 'panicking' over yield-bearing stablecoins, which could disrupt the industry's business model. According to Campbell, banks fear their business could be 'harmed' if stablecoins begin paying interest. Source:
Crypto Insight
31-05-2025
- Business
- Crypto Insight
Banks ‘very interested' in stablecoin use — Stripe exec
Payment giant Stripe has reportedly held early discussions with banks about potentially integrating stablecoins, signaling growing acceptance in global banking. After debuting stablecoin-based accounts in 100 countries in early May, Stripe has noticed significant interest in stablecoins — cryptocurrencies tied to fiat currencies like the US dollar — from global banks. 'In the conversations we have with them, they're very interested,' Stripe co-founder and president John Collison said in an interview with Bloomberg News on May 30. 'This is not something that banks are just kind of brushing away or treating as a fad. Banks are very interested in how they should be integrated with stablecoins into their product offerings as well,' he stated. Stablecoins will be a big part of future payments The growing interest by banks to integrate stablecoins comes from understanding that such cryptocurrencies offer significantly lower transaction costs for payments, including foreign exchange fees by banks. 'It's extremely expensive to do. It's very slow. It takes a matter of days,' Collison said. 'No one is happy with that equilibrium today. And so I think you will see those kind of profit pools come under attack.' On the other hand, stablecoins offer instant transactions with fees being significantly less than those of FX, Collison said, making a perfect case for payment use globally. 'A lot of our future payment volume is going to be in stablecoins,' Collison said. 'This is, for sure, a big part of our business on a go-forward basis,' he added. Stablecoins have already made an impact on traditional finance, beating volumes of Visa and Mastercard combined in 2024. Stablecoin growth requires green lights from regulators While showing interest in stablecoins, some jurisdictions like the United Kingdom might be falling behind in the race to attract stablecoin operators if they don't move faster with regulations, Collison said. 'You have companies that are being set up to serve this industry — if maybe there was a really good regulatory framework, they would choose to base here,' the Stripe exec said, adding: 'Without that certainty they go somewhere else. I think that's the risk that we need to be aware of.' Collison referred to the European Union's Markets in Crypto-Assets (MiCA) regulation taking force in late 2024, while the UK Financial Conduct Authority is still seeking public feedback on new stablecoin rules as recently as May 28. The latest insights by Collison align with reports suggesting that banks in the United States have been seeking even clearer guidelines from the government clarifying what they can do in crypto. On the other hand, despite falling behind in terms of stablecoin regulation, the UK has seen the largest increase in new crypto owners in the past year, outpacing Europe, according to Gemini. Source:
Yahoo
30-05-2025
- Business
- Yahoo
Stripe Explores Bank Partnerships on Stablecoins as Payments Importance Grows, Says Company President
Payments firm Stripe held early discussions with banks about integrating stablecoins into their core service as digital tokens are gaining traction for global payments, co-founder and president John Collison said in an interview with Bloomberg. "Banks are very interested in how they should be integrated with stablecoins into their product offerings as well," said Collison. "This is not something that banks are just kind of brushing away or treating as a fad." His comments underscore the rising interest among traditional financial firms to explore stablecoins, one of the fastest-growing use cases of crypto. Stablecoins, which have become a $240 billion asset class, are blockchain-based tokens anchored to government-issued currencies, predominantly to the U.S. dollar. They offer cheaper, faster alternative with around-the clock settlements compared to traditional payments channels. PayPal (PYPL) launched its own U.S. dollar-backed stablecoin PYUSD, while French bank Societe Generale issued a euro-backed token EURCV. Visa developed a tokenization platform to help banks issue stablecoins. Stripe is also betting on the growing role of stablecoins in international payments. The firm made headlines earlier this year by acquiring stablecoin tech startup Bridge for $1.1 billion. Since then, Bridge rolled out its own stablecoin USDB while Stripe introduced stablecoin accounts in over 100 countries. "A lot of our future payment volume is going to be in stablecoins," Collison said in the interview. He pointed to costly FX fees and multi-day processing times as pain points that stablecoins could while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Bloomberg
30-05-2025
- Business
- Bloomberg
Payment Firm Stripe in Early Talks With Banks About Stablecoins
Stripe Inc. has held early discussions with banks about their potential use of stablecoins, the latest sign that the digital assets are playing an increasingly central role in global money movement. The talks come as Stripe has debuted a number of products related to stablecoins in recent months, including a platform allowing fintechs to quickly start their own stablecoin-linked card programs for customers, according to John Collison, the co-founder and president of the payments giant. There are currently about $243 billion of stablecoins — digital assets designed to maintain a constant value against a currency like the dollar — in circulation.
