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Finance

Hecto Financial sets record first-half results, pushes stablecoin and AI payment infrastructure businesses

Hecto Financial posted record first-half sales and operating profit on the back of growth in its payment services and cross-border settlement business. The company said preliminary consolidated revenue rose 18.9 percent to 107.6 billion won and operating profit jumped 83.5 percent to 13.7 billion won. Second-quarter sales and profit rose from a year earlier but fell from the previous quarter, which the company attributed to temporary service adjustments for some merchants.

Crypto

RippleX engineering head says XRP Ledger agent transactions could hit 100 million within two years

RippleX’s head of engineering expects the number of agent-style transactions on the XRP Ledger to rise rapidly after recently surpassing 1 million. In remarks cited by The Block, Ayo Akinyele said the total could exceed 10 million and may reach 100 million within the next few years as agent development speeds up and infrastructure improves. Agent payments refer to AI software initiating transactions instead of humans approving them.

Finance

Hecto Financial joins global AI payment standard x402 to accelerate AI agent payments

Hecto Financial is stepping up its AI agent payment business by taking part in building a global AI payment standard. The company said on July 20 it joined the x402 Foundation, an open-source project developing standards for AI agent payments. It plans to combine its existing payment and settlement infrastructure with the Circle Payment Network and x402. Hecto Financial also completed a proof of concept based on Google’s AP2 standard and aims to commercialise it in the third quarter.