Finance

Who makes money when paying with a stablecoin card? The hidden revenue structure

Stablecoin cards let users pay in digital dollars while merchants receive local currency through existing payment rails. Companies involved earn mainly from payment fees, with additional revenue possible from FX conversion, settlement funding and subscriptions, though traditional operating costs remain. Interchange fees are a key source, but costs for processing, fraud prevention and compliance reduce returns. Cashback, fee caps and FX spreads can also erode profitability.

Mobility

Waymo robotaxis head to Toronto, aim for commercial launch in 2028

Waymo, Alphabet’s self-driving unit, has selected Toronto as its first robotaxi market in Canada, aiming to start a paid autonomous ride-hailing service in 2028. It plans to begin driving on Toronto roads within days with professional drivers to build high-definition maps, then test autonomous software with safety operators onboard. Regulatory groundwork in Ontario and validation for harsh winter conditions are seen as key hurdles.