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Partnerships

XRPUSD

Brendan Berry of Ripple expressed excitement about the tokenization revolution at Benzinga’s Future Of Digital Assets event. He cited data predicting $10 trillion in tokenized assets by 2030 and discussed the benefits of blockchain technology in tokenization. The panel included representatives from Tron Network, Truist Ventures, and Milo. Berry referenced HSBC's partnership with Medeco for tokenized securities and gold as an example of major financial institutions adopting tokenization. Roland Berger analysts forecast a market worth $10 trillion for asset tokenization by 2030, a significant increase from the current $300 billion.

Portfolio Pulse from Tanzeel Akhtar

November 15, 2023 | 3:33 pm

BAC

Central banks around the world are exploring the development of Central Bank Digital Currencies (CBDCs), with Bank of America reporting that banks representing 98% of global GDP are involved. The Federal Reserve is piloting CBDCs but requires executive and Congressional support to issue one. CBDCs could improve payment systems, aid monetary policy, and enhance financial inclusion, but also pose risks like bank runs and loss of monetary sovereignty. Bank of America is optimistic about CBDCs' transformative potential. The Swiss National Bank is piloting a wholesale CBDC with SIX Digital Exchange and six commercial banks.

Portfolio Pulse from Murtuza Merchant

November 15, 2023 | 3:19 pm

OMQS

OMNIQ Corp. (NASDAQ:OMQS) has received a repeat order for its AI-based Machine Vision solution to upgrade parking systems at four major airports managed by the Port Authority of New York and New Jersey (PANYNJ). The upgrade includes omniQ's latest AI neural network engine, aiming to improve traffic flow, revenue, and convenience for travelers. The project is in collaboration with DESIGNA, a leader in automated parking systems. OMNIQ's CEO expressed confidence in the technology and anticipates further orders from other airports.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 3:03 pm

DIS

PENN

PENN Entertainment, Inc. has announced the successful launch of ESPN BET, an online sportsbook, in 17 states where it offers online sports betting. The platform, available on mobile (iOS and Android) and web, is a collaboration between PENN and ESPN, leveraging PENN's operational expertise and ESPN's brand. ESPN BET is powered by Penn Interactive Gaming Platform, a proprietary technology developed in-house. PENN's online casino is also integrated into ESPN BET in four states. This follows a strategic alliance formed with ESPN in August 2023.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 3:01 pm

JPM

JPMorgan Chase & Co's digital token, JPM Coin, is expected to handle up to $10 billion in daily transactions in the next one to two years, a substantial increase from the current $1 billion. Since its 2019 launch, JPM Coin has processed $300 billion in transactions and recently expanded to include Euro transactions. The Onyx blockchain system, which powers JPM Coin, has introduced programmable payments, allowing for automated and real-time financial operations. Siemens has already utilized the system for account transfers.

Portfolio Pulse from Khyathi Dalal

November 15, 2023 | 2:58 pm

CRM

DIS

MSFT

Walt Disney Co (NYSE:DIS) stock is up as ValueAct has been accumulating shares, now one of its largest shareholders. ValueAct, with a history of enhancing profitability at companies like Salesforce (NYSE:CRM) and Microsoft (NASDAQ:MSFT), sees potential for similar improvements in Disney. They suggest revenue increases through bundling, pricing tiers, and advertising, which could boost Disney's EBIT. The return of Bob Iger and the current proxy fight with Nelson Peltz and Trian Partners also present opportunities for ValueAct's involvement.

Portfolio Pulse from Anusuya Lahiri

November 15, 2023 | 2:52 pm

EWW

TSLA

Elon Musk's Starlink has won a contract with the Mexican government worth up to 1.56 billion pesos to provide free internet services in Mexico until the end of 2026, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:31 pm

DIS

Disney's streaming service Hotstar set a new record with over 51 million viewers for a cricket match between India and New Zealand, surpassing its previous record of 44 million. Despite losing over 23 million subscribers in 2022, Disney is offering free streaming of ICC World Cup cricket matches in India. CEO Bob Iger is exploring options to continue operations in India, where TV business is profitable. Disney is in talks with entities like Reliance for its India business. Meanwhile, Viacom18, backed by Mukesh Ambani, is increasing competition for Hotstar by drawing talent from Star India and investing in streaming rights.

Portfolio Pulse from Anusuya Lahiri

November 15, 2023 | 2:15 pm

UPST

REGIONAL Federal Credit Union has partnered with Upstart (NASDAQ:UPST), an AI lending marketplace, to expand personal loan access in Northwest Indiana. REGIONAL joined the Upstart Referral Network in July 2022, allowing qualified applicants on Upstart.com to receive offers that align with REGIONAL's credit policies. This partnership aims to reach non-members and provide a modern, digital-first lending experience.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:13 pm

MFC

Manulife Investment Management has agreed to acquire CQS, a multi-sector alternative credit manager with approximately $13.5 billion in assets under management. The acquisition will enhance the global investment solutions for clients of both firms and allow Manulife to scale its distribution footprint. CQS will continue to be led by its current CEO and Senior Partners, and the CQS brand will be co-branded with Manulife. The transaction is expected to close in early 2024, subject to regulatory approvals, with financial terms not disclosed. Lord Hintze's Directional Opportunities Fund is not included in the deal.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:10 pm