AGP Executive Report
Last update: 9 hours agoBanking Disruption: A Google Cloud outage knocked Revolut and services at Lloyds, HSBC and other UK businesses offline, exposing the risks of relying on shared infrastructure. Payments Competition: The UK regulator proposed opening Apple’s iPhone contactless system to rival wallets, aiming to lower barriers for banks and fintechs. Bitcoin Markets: Bitcoin hovered near $82,000 as easing rate-hike fears supported a recovery, but recent ETF withdrawals point to weak institutional demand. BlackRock has also filed for a Bitcoin fund that limits losses in exchange for capping gains. Fintech and Crypto: Visa and Mesh plan to let customers spend funds held in digital wallets at regular checkouts, without first transferring them to a bank account. Investor Funding: Strive closed an upsized $630 million preferred-stock IPO, with the shares offering a 15% annual dividend and proceeds supporting its Bitcoin strategy. Nigeria’s Economy: Inflation fell to 14.63% in September and foreign reserves topped $55 billion, while banks raised ₦4.65 trillion in fresh capital.
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