DD
MM
YYYY

CATEGORIES

PAGES

DD
MM
YYYY

spot_img

CATEGORIES

PAGES

Home Blog Page 1193

Circle Raises $1.1bn in Upsized IPO, Signaling Growing Market Acceptance for Stablecoins

By
Samuel Nwite
-
0

Stablecoin issuer Circle Internet Group Inc. and its backers have raised nearly $1.1 billion in an upsized initial public offering (IPO) that priced above expectations, marking a significant moment of validation for the crypto industry as it inches closer to mainstream financial markets.

The IPO, which saw strong investor demand, suggests growing confidence in stablecoins at a time when the U.S. Congress is advancing legislation that could soon bring regulatory clarity to the sector.

Circle and its shareholders sold 34 million shares at $31 each, above the raised price range of $27 to $28, which itself had been increased earlier this week from the original $24 to $26 range. The offering gives the company a market capitalization of $6.9 billion, and a fully diluted valuation of approximately $8.1 billion when stock options and other securities are factored in.

The robust investor appetite led to orders outstripping available shares by more than 25 times before books closed on Tuesday, according to people familiar with the matter cited by Bloomberg.

Among those participating in the IPO are ARK Investment Management, which plans to purchase up to $150 million worth of shares, and BlackRock Inc., which intends to acquire approximately 10% of the offering. BlackRock already plays a critical role in Circle’s operations, managing a $53.3 billion reserve fund that backs its U.S. dollar-pegged stablecoin, USDC.

Circle itself sold 14.8 million shares while selling shareholders divested 19.2 million, including co-founder and CEO Jeremy Allaire. Trading of the stock is expected to commence Thursday on the New York Stock Exchange under the ticker symbol CRCL.

Circle’s public debut comes at a pivotal moment for the stablecoin industry. With Congress advancing legislation to regulate these dollar-pegged digital tokens, the IPO signals a turning point in the acceptance of crypto-related businesses by traditional markets. Legislation could boost trust and draw in even more institutional investors and competitors. According to a report from the Wall Street Journal, some of Wall Street’s largest banks are now exploring their own dollar-backed digital currencies.

Circle’s USDC currently commands about 29% of the stablecoin market, according to its SEC filings citing CoinMarketCap data. As of May 29, about $61 billion worth of USDC is in circulation. While USDC has seen its market share decline in the face of strong competition from Tether, Circle has sought to emphasize transparency in its reserve backing and its commitment to regulatory compliance.

The IPO also comes more than a year after Circle scrapped its earlier attempt to go public via a SPAC merger that would have valued the company at $9 billion. At that time, the crypto market was reeling from a series of setbacks, including the collapse of FTX and a widespread loss of investor confidence. Circle was last valued at $7.7 billion in a private funding round in 2022, according to PitchBook.

Now, with stronger demand and greater policy attention on stablecoins, Circle appears to be entering public markets under far more favorable conditions. The IPO was led by JPMorgan Chase, Citigroup, and Goldman Sachs, all of whom have deepened their involvement in digital asset infrastructure in recent years.

The success of the listing could open the door for more crypto-native firms seeking to bridge into traditional finance through public offerings, particularly if U.S. lawmakers finalize a regulatory framework that treats stablecoin issuers more like financial institutions.

Welcome Routelink Group to Tekedia Mini-MBA

By
Ndubuisi Ekekwe
-
0

Join me to welcome innovators and business transformers from Routelink Group to Tekedia Mini-MBA which begins on Monday, June 9, 2025. Routelink is a leading ICT solutions provider and systems integrator for application management, IT security and compliance, IT operations management, business analytics, cloud solutions, network and broadband communications.

For over 15 years, Routelink Group has been at the forefront of technological innovation and has provided cutting-edge solutions in enterprise IT, fintech, and telecommunications, empowering businesses to thrive in the digital age. Tekedia Institute appreciates this opportunity to co-learn with the innovators behind this company.

Welcome Team Routelink to Tekedia Institute; our product is Knowledge, and with that knowledge, you will discover more routes and win more territories. Welcome!

NCC Directs Banks to Deduct USSD Charges From User’s Mobile Airtime

By
Ojukwu Emmanuel
-
0

The Nigerian Communications Commission (NCC) has mandated commercial banks to shift Unstructured Supplementary Service Data (USSD) transaction charges from bank account deductions to direct billing from users’ mobile airtime, effective June 3, 2025.

Under the new structure, each USSD session will incur an N6.98 charge per 120 seconds, deducted by mobile network operators (MNOs) from users’ airtime balances.

United Bank For Africa (UBA), noted that customers will receive a consent prompt at the start of each session, with charges applied upon confirmation and subject to service availability. Customers can opt out of USSD banking if they prefer not to use the new model.

Part of the bank’s statement reads,

“In line with the NCC directive, effective June 3, 2025, USSD banking charges will no longer be deducted from your bank account”. The bank further emphasized that users can discontinue USSD services at any time.

USSD (Unstructured Supplementary Service Data) is a critical banking channel in Nigeria due to its accessibility, simplicity, and effectiveness in bridging the financial inclusion gap. It works on any mobile phone, including basic feature phones, without requiring internet access or a smartphone. With over 80% of Nigerians using mobile phones but only a fraction owning smartphones or having reliable internet, USSD enables millions, especially in rural areas, to access banking services.

Notably, USSD is a cornerstone for Nigeria’s financial inclusion goals, targeting 80% inclusion. It serves underserved and unbanked populations who lack access to traditional banking infrastructure. In 2022, over 516 million USSD transactions worth about 4 trillion Naira were recorded, showcasing its massive adoption.

However, while USSD remains vital for financial inclusion, The ongoing tensions between Nigerian banks and telecom operators over Unstructured Supplementary Service Data (USSD) debts, amounting to over N250 billion as of 2024, have created significant friction, threatening the continuity of a critical banking channel in Nigeria.

The conflict began around 2019 when banks started incurring charges for using USSD services provided by telecom operators. By 2021, the debt stood at N42 billion, rising to N120 billion by 2023 and escalating to over N250 billion by 2024 due to banks’ failure to consistently remit fees to telecom operators.

The core issue revolves around the definition of a “transaction.” Banks argue they should only pay for completed transactions, while telecoms insist on charging for every USSD session initiated, including failed ones. In 2021, the Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC) set a fee of N6.98 per transaction, deducted from customers’ accounts, to resolve this, but disputes persist over implementation.

Telecom operators, under the Association of Licensed Telecommunications Operators of Nigeria (ALTON), have repeatedly sought NCC approval to disconnect banks’ USSD services due to unpaid debts. In October 2024, telecoms pushed for regulatory approval to withdraw services, citing the unsustainable N250 billion debt.

In January 2025, the NCC issued a directive to nine banks—Fidelity, First City Monument, Jaiz, Polaris, Sterling, United Bank for Africa, Unity, Wema, and Zenith—to settle debts by January 27, 2025, or face disconnection of their USSD codes.

This followed a joint CBN-NCC memo in December 2024 outlining a three-phase payment plan: 60% of pre-API invoices by January 2, 2025; full payment by July 2, 2025; and 85% of post-API invoices by December 31, 2025.

By February 2025, banks made significant progress in clearing debts, averting immediate disruptions. ALTON’s chairman, Gbenga Adebayo, confirmed the situation was de-escalated, but the underlying issues remain unresolved, with legal and technical complications potentially prolonging the dispute.

The NCC’s directive to deduct USSD charges from mobile airtime, effective June 3, 2025, addresses the N250 billion debt dispute by shifting costs to consumers, ensuring telecoms receive direct payments, and reducing banks’ financial burden.

While this stabilizes the USSD ecosystem in the short term, it risks reducing accessibility for low-income users, potentially undermining financial inclusion.

U.S. Extends Tariffs On GPUs And Select Chinese Goods

By
Paul Ugbede Godwin
-
0

The U.S. has extended the tariff pause on select Chinese goods, including GPUs, motherboards, and solar panels, until August 31, 2025, as part of Section 301 exemptions. This follows a 90-day extension from the previous deadline of August 14, 2025, announced by the Office of the U.S. Trade Representative The pause aims to support ongoing trade negotiations, with a call between U.S. and Chinese counterparts expected this week to discuss trade terms, though no specific date has been confirmed.

This temporary relief stems from a May 12, 2025, agreement reducing U.S. tariffs on Chinese goods from 145% to 30% and Chinese tariffs on U.S. goods from 125% to 10% for 90 days, intended to facilitate a longer-term deal. However, tensions persist, with China accusing the U.S. of violating the truce through actions like AI chip export controls and restrictions on chip design software sales.

The tariff pause until August 31, 2025, on goods like GPUs, motherboards, and solar panels reduces costs for U.S. importers and consumers, potentially stabilizing prices for electronics and renewable energy components. This could boost sectors like tech and clean energy, where these goods are critical. The extension provides temporary relief for Chinese manufacturers, maintaining their access to the U.S. market without the burden of high tariffs, potentially stabilizing their revenue streams.

The pause mitigates disruptions in global supply chains, particularly for tech and solar industries, which rely heavily on Chinese components. However, the short-term nature of the extension (until August 31, 2025) creates uncertainty for long-term planning. The expected U.S.-China call this week signals ongoing efforts to negotiate a longer-term trade agreement. The tariff pause reflects a mutual interest in de-escalating trade tensions, following the May 12, 2025, agreement that reduced tariffs (U.S. from 145% to 30%, China from 125% to 10%) for 90 days.

Success in these talks could lead to a more stable trade environment, but failure risks reimposing high tariffs, escalating costs, and disrupting markets. The pause is a pragmatic move to buy time for diplomacy, but underlying tensions—such as U.S. restrictions on AI chips and chip design software—could undermine trust. China’s accusations of U.S. truce violations highlight the fragility of the détente.

The extension may signal U.S. willingness to avoid immediate escalation while addressing domestic pressures to protect industries and national security. Some U.S. policymakers and industries advocate for tariffs to protect domestic manufacturing, reduce reliance on China, and address national security concerns (e.g., tech supply chains). They view the pause as a temporary concession that risks weakening leverage.

U.S. tech firms, renewable energy companies, and consumers favor the pause, as tariffs increase costs and disrupt supply chains. They argue for open trade to maintain competitiveness and affordability. China sees the pause as an opportunity to stabilize trade but is wary of U.S. actions like export controls, which it perceives as breaches of good faith. Retaliatory measures, like restricting rare earth exports, remain a risk if talks falter.

China aims to maintain its export market share while countering U.S. restrictions by boosting domestic tech capabilities (e.g., chip production). U.S. allies like the EU and Japan are caught between supporting U.S. efforts to counter China and maintaining their own trade ties with Beijing. The pause may ease pressure on global markets but doesn’t resolve the broader U.S.-China rivalry.

Countries reliant on affordable Chinese goods benefit from the pause, but prolonged uncertainty could disrupt their access to critical imports. If the U.S.-China call this week fails to yield progress, tariffs could snap back, raising costs and reigniting trade war fears. China’s potential retaliation (e.g., export bans on critical materials) could further strain global markets.

Successful negotiations could pave the way for a broader trade deal, reducing tariffs long-term and fostering stability in tech and renewable energy sectors. The divide reflects competing economic, strategic, and geopolitical priorities, with the tariff pause serving as a temporary bridge but not a resolution to deep-seated tensions.

Strategies for Account Planning: A Guide

By
TI Partners
-
0
Account managers making plans for a client's account.

In the dynamic landscape of sales, account planning emerges as a cornerstone strategy for maintaining and growing client relationships. This forward-thinking approach ensures businesses consistently align their objectives with the needs and potential of key accounts. For sales teams, it’s essential to master this aspect of strategic planning for sustaining success and outshining competitors. If you’re ready to optimize your business’s approach to account management, this article sheds light on how to effectively design and implement these strategies. Below, we delve into strategies for account planning and offer actionable insights to perfect your methods.

Understanding the Essentials of Account Planning

Account planning is an in-depth process focused on understanding client needs and mapping out a long-term engagement strategy. At its core lies the comprehensive analysis of client information, which provides invaluable context for all subsequent planning stages. Sales professionals must become astute observers, delving into a client’s business model, goals, and challenges to cultivate a profound comprehension of their operational ecosystem.

This understanding forms the bedrock upon which tailored strategies and solutions are built. It involves more than scratching the surface; it requires salespeople to continually ask probing questions, reassess assumptions, and stay abreast of industry movements that may affect their clients. Furthermore, maintaining a proactive stance toward account planning can preempt market shifts and keep your strategies agile and adaptive.

Key to effective account planning is the ability to synthesize insights from various sources. Teams should leverage these insights to prioritize activities, focus their efforts on high-value interactions, and forecast outcomes more precisely. By harmonizing client insights with a clear organizational vision, businesses can craft a nuanced and impactful account strategy.

Crafting a Comprehensive Account Profile

A comprehensive account profile serves as the blueprint for customized account strategies. It’s a detailed dossier that encapsulates everything from a client’s market positioning to their preferred communication style. This profile is a living document, updated regularly to reflect any shifts in the client’s world that may present new opportunities or risks to the business relationship.

Creating this profile begins with data collection—financial reports, customer feedback, and transaction history together paint a revealing picture of client health and potential. The analytical process that follows should dissect this data to reveal trends, preferences, and areas of unique competitive advantage or concern. Accuracy and depth are paramount here to ensure the resulting profile is a reliable tool for decision-making.

Within each profile, it’s beneficial to identify key stakeholders and influencers who may impact decision-making processes. Understanding their priorities, individual challenges, and decision-making criteria is essential for crafting messages that resonate and cultivating relationships that matter. This level of granularity ensures the entire sales team can operate in unison and tailor their approach to engage each stakeholder effectively.

Utilizing Technology To Enhance Account Planning Strategies

An account manager reviewing plans with a client.

Technology is playing an increasingly pivotal role in augmenting account planning efforts. With the aid of sophisticated Customer Relationship Management (CRM) systems, sales teams can streamline data storage, access real-time analytics, and automate routine tasks, freeing them to focus on strategy and client interaction. These platforms also facilitate greater consistency and collaboration among team members, who can share updates and insights seamlessly.

Predictive analytics is another game-changer in account planning, enabling sales professionals to forecast trends and behaviors with a higher degree of accuracy. By leveraging data science, teams can identify potential opportunities and risks before they fully emerge, positioning themselves strategically to take proactive actions that strengthen client relationships.

Artificial Intelligence (AI) is transforming the sales landscape by providing personalized recommendations and insights at scale. AI tools can analyze vast amounts of data to suggest next steps, highlight client sentiment shifts, and even predict the optimal timing for outreach efforts. This level of support can significantly sharpen the focus and effectiveness of account strategies.

Altogether, the intricate process of account planning calls for a blend of thorough understanding, strategic goal setting, and thoughtful navigation of potential challenges. When combined with the leverage of cutting-edge technology, businesses can expect to forge deeper relationships with accounts, resulting in sustained growth and competitive advantage. By adhering to these strategic pillars and staying agile, sales teams can deliver remarkable value to their clients and their own organizations alike.

1...1,1921,1931,194...8,106Page 1,193 of 8,106

© Tekedia. All rights reserved.

Term & Privacy

© Tekedia. All rights reserved.

Term & Privacy