💰 KlarnaUSD Stablecoin

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Hey Fintech Explorers—Welcome back to Money Explored, the essential Sunday newsletter to stay ahead in fintech!

This week, one of the world’s biggest BNPL players prepares to mint its own stablecoin, a trading giant takes a bold step into operating its own derivatives exchange, and a rising AI search engine drops a holiday-timed shopping assistant that could rewrite the playbook for e-commerce!

And don’t miss this week’s sponsor, The Hustle Daily, with a guide featuring 200+ ways to earn using AI.

Here’s what we’re diving into:

• Klarna preps its own stablecoin, aiming for faster and cheaper global payments. 💰

• Robinhood surges as it builds its own futures and prediction-market exchange. 🚀

• Perplexity launches its AI shopper ahead of peak holiday season. 🎁

Plus: Europe sounds the alarm on stablecoin risk, Worldpay drops a new AI payments protocol, and debt loads soar across OpenAI’s partner ecosystem.

It’s all happening—and that’s just the start…

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Let’s dive in!

🌎 3 Major Stories

Dive into this week’s top Fintech developments.

Klarna's Stablecoin Launch Ahead: KlarnaUSD 💰

The Big Story 📰: Klarna Group, the prominent buy now, pay later (BNPL) company, announced it is testing its own stablecoin, KlarnaUSD, which it plans to officially launch next year. Co-founder and CEO Sebastian Siemiatkowski, previously a vocal skeptic of cryptocurrencies, stated that the technology is now mature, providing fast, low-cost, and secure transactions. Currently, Klarna is exploring internal use cases for its stablecoin, with an aim to reduce international payment costs and enable peer-to-peer transactions. Klarna's stablecoin will operate on the Tempo blockchain, a platform initiated by Stripe and Paradigm, designed for efficient digital asset transactions.

Key Takeaway ⚡️: Klarna's foray into the stablecoin market signals a significant shift in its strategy and reflects broader trends in fintech towards digital asset integration. By developing KlarnaUSD, the company aims to enhance transaction efficiency, potentially lowering costs for cross-border payments. The move showcases the increasing acceptance of cryptocurrencies among major fintech players, indicating that stablecoins could revolutionize how companies manage international transactions. As Klarna tests its stablecoin, industry professionals should monitor this development, as it may encourage other financial entities to explore similar innovations in the digital asset space.

Robinhood's Stock Soars with New Exchange 🚀

The Big Story 📰: Robinhood shares surged over 10% following the announcement of the company's plan to create its own futures and derivatives exchange, signaling a push into the lucrative prediction markets. Previously, Robinhood derived more than half of its trading volume through a partnership with Kalshi. The fintech is acquiring a 90% stake in MIAXdx, a derivatives platform, which allows them to list contracts directly rather than solely relying on Kalshi. Analysts predict that with this strategic move, Robinhood’s prediction market division could generate over $300 million annually, bolstering their market presence significantly.

Key Takeaway ⚡️: Robinhood's foray into independently run prediction markets showcases its ambition to seize greater market share and capitalize on a booming sector. By launching its own platform for futures and options trading, Robinhood not only enhances its revenue potential but also diversifies its offerings, allowing them to cater to a larger audience beyond just their existing user base. As competition heats up with other fintech and crypto firms venturing into prediction markets, Robinhood’s moves may set the standard, influencing how similar platforms evolve. For investors and industry watchers, this development is crucial; it indicates Robinhood's growing influence and the shifting dynamics within fintech as companies pursue innovative revenue streams.

Perplexity Launches AI Shopper Just in Time for Holidays 🎁

The Big Story 📰: Perplexity is leveling up its AI shopping game as it introduces a free AI-powered shopping feature for US users just in time for the holiday season. Similar in style to ChatGPT, the AI assistant allows users to type in specific product requests and refine results through follow-up questions. The products are presented as cards featuring specifications and reviews, with a seamless purchasing option via merchants who support PayPal. A notably unique feature is the assistant's ability to remember past interactions, enhancing personalized recommendations. The mobile version is set to launch soon, ensuring that the shopping experience is both user-friendly and integrated across platforms.

Key Takeaway ⚡️: Perplexity's move signals a major shift in how AI can enhance online retail experiences, prioritizing user intent and personalized suggestions over mere rapid transactions. This approach not only differentiates Perplexity from typical search engines but also positions it to tackle what has been referred to as the "DoorDash problem," where quick service often sacrifices genuine customer engagement. As the holiday shopping season kicks off, fintech and retail businesses should pay close attention to how AI can be utilized to foster customer relationships and enrich the shopping experience. This development showcases the increasing importance of leveraging technology to create a more satisfying and effective e-commerce landscape.