Tesla’s US registrations fell a whooping 16% in April as the country’s electric vehicle (EV) registrations fell for the first time in 14 months. For Tesla, though, the sales woes have deepened in 2025 after it reported its first-ever annual shipment decline last year.

The sales decline continued in Q1 2025, with Tesla producing 362,000 vehicles and delivering 332,000 of them. For context, the US electric vehicle (EV) giant delivered 386,810 vehicles in the corresponding quarter last year. Its Q1 shipments were in fact the lowest in almost three years.

Tesla’s Sales Have Been Weak

The numbers don’t come as a surprise, as there were signs that Tesla’s sales were weak in the US. In May, the company cut the financing rates for its new Model Y in the US. While it is usual for the company to offer incentives towards the end of the quarter, this time around, it offered the discount just about a month into the quarter, and that too on the latest version of its best-selling vehicle.

Tesla said that it is offering “1.99% APR or $0 Due at Signing available for well-qualified buyers,” which implies a discount of a few thousand dollars on the model. Notably, Model Y is the best-selling vehicle globally, not only in the EV space but across all vehicle types. The company launched its long-awaited refreshed version of the aging model earlier this year, but the discounts suggested that the demand for the model is perhaps not as strong.

Tesla’s Global Sales Have Also Been Falling

While Tesla would officially release its Q2 production and delivery numbers only early next month, data from Europe and China shows a worsening slowdown. The company’s sales from the China Gigafactory have fallen in the first two months of this quarter. The factory produces cars for the domestic Chinese market and also exports to parts of Europe.

There is a fierce price war in the Chinese EV market as companies have been cutting prices and offering incentives to spur sales. The Chinese auto market is among the most competitive globally, and domestic players are increasingly taking market share from foreign brands like Volkswagen and Ford. The price war only escalated after BYD cut prices on many of its models, especially those in the budget range.

Tesla’s sales in Europe fell by over 50% in May, even as it saw an increase in sales in some markets like Norway. Musk’s embrace of right-wing politicians seems to have alienated many potential Tesla car buyers, which is reflected in its falling sales in Europe, where it is fast losing ground to Chinese automakers as well as European auto giants like Volkswagen.

In April, BYD surpassed Tesla in battery electric vehicle (BEV) registrations in Europe for the first time. It is yet another milestone for the Chinese giant after having dwarfed Tesla’s global deliveries in 2022. Last year, BYD surpassed Tesla in terms of total revenues, also.

BYD Is Selling More BEVs Than TSLA in Europe

“Although the difference between the two brands’ monthly sales totals may be small, the implications are enormous. This is a watershed moment for Europe’s car market, particularly when you consider that Tesla has led the European BEV market for years, while BYD only officially began operations beyond Norway and the Netherlands in late 2022,” said Felipe Munoz, Global Analyst at JATO Dynamics, commenting on BYD surpassing Tesla.

In Q1 2025, BYD sold over 1 million cars, and its BEV sales were ahead of Tesla despite the first quarter being seasonally weak in China due to the Lunar New Year Holidays.

Looking at the strong growth in the first five months of the year, BYD looks set to become the world’s biggest seller of BEVs in 2025 and hit yet another milestone.

Notably, in 2011, Tesla CEO Elon Musk laughed at the possibility of BYD becoming a competitor to Tesla. However, the Chinese company has proven critics wrong and has emerged as a serious competitor to Tesla, not only in China but also in global markets.

Tesla’s Stock Has Rebounded from the Lows

Tesla’s stock price has meanwhile rebounded sharply this year and even rose after what was a dismal Q1 2025 earnings report, where it missed on both the topline and the bottomline. Many were perplexed at the price action post the Q1 report, which was so blatantly detached from the earnings report. The only positive trigger was CEO Elon Musk announcing that he would step back from the Department of Government Efficiency (DOGE) to spend more time at Tesla.

Musk has since not only left the White House but has also been involved in a bitter feud with the President. While the billionaire has expressed regret over some of his tweets targeting Trump, many believe the relations between the two might never be the same again.

As for Tesla’s price action, a MarketWatch article best sums up the anomaly. It says, “Given Musk’s ability to use social media to drive Tesla stock significantly higher without traditional fundamental justification (some call this “pumping”) you have buyside (institutional) investors reluctant to step in and attempt to make markets efficient by shorting the stock.  As a result, there is a strong argument that we don’t have proper “price discovery” for Tesla shares.”

Robotaxi Launch Is Tentatively Set for June

Musk has set June 22 as the tentative date for the company’s ambitious robotaxi launch in Austin. The launch is, however, facing protests in Austin over safety concerns. On Thursday, the demonstrators showed how a Tesla with its full self-driving (FSD) software zoomed past a school bus that had a stop sign held. The car also ran over a child-sized mannequin that the demonstrators had put in front of the vehicle.

Notably, the FSD is far from perfect, and US regulators are investigating several cases of crashes involving the software.

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An Air India Flight crashed yesterday, moments after takeoff from Ahmedabad. The Boeing Dreamliner aircraft was on its way to London but crashed into a residential complex near the airport, killing all but one person on board. Boeing’s stock fell nearly 5% yesterday as the crash is seen as impacting the company’s fragile recovery.

Air India was Indian’s state-owned carrier before the country’s Tata conglomerate bought it in 2022. The group owned the carrier before it was nationalized, and it was a homecoming of sorts for the company.

Boeing’s Dreamliner Crashed in India

The investigations into the causes of the crash are ongoing and “will take time,” according to Air India CEO Campbell Wilson. In its statement, Boeing said, “We are in contact with Air India regarding Flight 171 and stand ready to support them. Our thoughts are with the passengers, crew, first responders, and all affected.”

After the unfortunate crash, Boeing CEO Kelly Ortberg canceled his trip to the Paris Airshow next week. GE Aerospace, which made the engine for that aircraft, is postponing an investor day.

“As our industry prepares to start the Paris Air Show, Stephanie (Pope) and I have both canceled plans to attend so we can be with our team, and focus on our customer and the investigation,” Ortberg wrote in a message to employees on Thursday evening that was seen by Reuters.

In that note, Ortberg added, “Safety is foundational to our industry and is at the core of everything that we do.” He also said, “Our technical experts are prepared to assist investigators to understand the circumstances, and a Boeing team stands ready to travel to India.”

Notably, Ortberg, who has been in the aerospace industry for over 3 decades and was leading Rockwell Collins between 2013 to 2021, took over the baton as Boeing’s CEO last year. He replaced Dave Calhoun, under whose leadership Boeing stock has sagged and underperformed markets by a wide margin.

Among others, Ortberg is pushing for a cultural change at Boeing. During the Q4 2024 earnings call, he said, “This (culture change) will be a multiyear journey, but we’re already making progress. Our leaders are getting more engaged with their teams and customers. We’re having the frank discussions about what we need to change.”

Boeing’s Dreamliner hadn’t had a Fatal Crash Before This

Notably, this is the first fatal crash involving the Boeing Dreamliner. Speaking with Al Jazeera, aviation expert Scott Hamilton said, “This is the first fatal crash of the 787, so despite all of its problems in the early days and all the production issues that Boeing had with the aeroplane, this has had a perfect safety record up to this point.”

“Boeing has become notorious and infamous with flyers at this moment, regardless of the model of the plane. Even the word ‘Boeing’ triggers a lot of people,” said Adnan Bashir, an independent global communications and corporate affairs consultant who specializes in crisis communications.

Paul Charles, CEO of the PC Agency, a London-based luxury travel consultancy, echoed his views and said, “Previous production issues at Boeing will be very much on people’s minds at the moment and the relatively new leadership at Boeing needs to be visible in the days to come.”

Boeing’s Past Woes

While the exact cause of the Air India flight is yet to be determined, it might not have come at a worse time for Boeing, as it had just started to recover from the 737 crisis emanating from whistleblower allegations of the company cutting corners on the popular models to boost profits.

After the second incident, the aircraft was grounded globally for 20 months. Boeing eventually reached a $2.5 billion deferred prosecution agreement with the Department of Justice (DOJ) to avoid prosecution on a single charge of fraud.

In January 2024, the door panel of a 737 Max jet blew off during an Alaska Airlines flight. Subsequently, the same year, the engine cover on a Southwest Airlines Boeing 737-800 fell off during takeoff in April last year.

In his explosive testimony last year, whistleblower Sam Salehpour reiterated that Boeing was very much in the know about the safety issues, but not only ignored them but also retaliated against him when he brought these to the notice.

BA Has Been Posting Losses Amid Safety Woes

Boeing hasn’t posted an annual operating profit since 2018, which coincides with its safety woes. The company has been burning cash and expects to post negative cash flows in 2025, as well. BA had a debt of $53.6 billion at the end of Q1. Amid the recurring negative free cash flows, Boeing’s balance sheet has deteriorated, and the company used debt to tide it over the cash crunch.

Amid Boeing’s safety woes, rival Airbus has outpaced it in orders and deliveries for six consecutive years.

India Was Emerging as a Key Market for BA

Moreover, India was emerging as a key market for Boeing, and Air India was reportedly in talks with Boeing to take deliveries of 10 planes after Chinese carriers refused to take deliveries amid the escalating US-China tensions.

However, the Air India crash has come as a setback for BA, even though we still don’t know whether the crash was due to a manufacturing-related issue or whether it was due to some other factor.

Meanwhile, Boeing’s stock is trading almost flat in pre-market today after the crash yesterday. The broader markets are, however, set to open lower as markets digest the news of rising tensions between Iran and Israel, which has sent oil and gold prices north while leading to a fall in global markets today.

The post Could the Air India Crash Impact Boeing’s Fragile Recovery? appeared first on Economy Watch.

The UK Government recently passed the Data (Use and Access) Bill through the House of Parliament. The move is expected to pave the way for the expansion of open banking and smart data sharing, which will affect numerous business sectors.

The legislation marks a key turning point in the expansion of open banking, enabling it to move beyond payments into a more comprehensive open finance model. This would also grant consumers the power to share their data more widely across new use cases in areas such as retail, telecoms, transport, energy, and similar sectors.

This is a broader vision of the future of open banking, which expands the open-data concept beyond the limitations of banks. It is intended to encompass a range of other financial services, including insurance, pensions, investments, and more. For example, insurance companies could offer an overview of existing pension products, or allow users to access loans and deposit data from various banks in a single application.

The Future of Open Banking In The UK Offers Many New Possibilities

The UK Centre for Finance, Innovation, and Technology (CFIT) has already created two functional prototypes of open finance applications designed for vulnerable customers. Through these prototypes, users could receive financial advice that could help speed up credit assessments for SME loan applications.

There are additional use cases that include a simple and quick way to share sensitive information, such as mortgage data, which facilitates the property market, allowing for better deals on utilities and other related services.

Henk Van Hulle, the CEO of Open Banking Limited, commented on the passing of the bill, stating that it represents a landmark moment for the sector. However, he argued that this is still only the beginning. “Now is the time to turn these foundations into real-world outcomes which empower consumers, drive innovation, and unlock growth,” he noted, adding that having the legislative foundations for a smarter, more connected data economy, government, regulators, and industry need to come together to make it all a reality.

He concluded by saying that there will be many important choices to make in the coming months, and that decisions made during that time will frame the type of ecosystem and outcomes that the sector will deliver in the future.

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The US Senate recently voted on the long-awaited stablecoin bill, commonly known as the GENIUS Act. With a vote of 68-30 this Wednesday, June 11, the bill is ready to reach the final vote, which may occur as soon as next Monday. If so, it will bar any deal between party leaders that aims to expedite the process.

The act is formally known as the  Guiding and Establishing National Innovation for US Stablecoins Act. If it becomes law, it will require all stablecoins to be fully backed by the US dollar or similarly liquid reserves. Furthermore, the authorities would conduct annual audits for stablecoin issuers whose coins have a market value exceeding $50 billion.

The bill also includes provisions on oversight of foreign issuers, which is why it will be quite impactful if it passes all stages and becomes law. Yesterday’s vote marked another successful step on that road.

While several Democrats backed the move, many others voted against it, including Senate Minority Leader Chuck Schumer, Amy Klobuchar, and Elizabeth Warren. They explained that they still have concerns regarding regulatory loopholes, money laundering safeguards, as well as potential conflicts of interest tied to the US President Donald Trump.

Trump’s Ties To Crypto Make The Bill Controversial

The Trump administration has backed the bill, with senior White House advisors stating that they recommend the president sign it if it reaches his desk. Trump previously pushed for stablecoin legislation before the August recess, as he believes it is an important part of the broader push to bring crypto finance into the mainstream.

Tim Scott, the Senate Banking Chair and one of the bill’s co-sponsors, described it as a win for national security and innovation. He credited bipartisan cooperation for getting the bill this far, and this sentiment was echoed by the Majority Leader, John Thune. 

Thune said that the act could help the country become a global leader in digital assets. On the other hand, Warren opposed the bill, warning that it needs further amendments, or it could leave the door open to “presidential corruption through crypto.” 

Warren also criticized Trump’s ties to the DeFi venture World Liberty Financial, which is run by his family, and which recently rolled out its own stablecoin. “Through his crypto business, Trump has created an efficient means to trade presidential favors for hundreds of millions, perhaps billions, from foreign governments and big corporations,” Warren argued, adding that the senate would enable it if it passes the Act.

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One of the leading UK banks, NatWest, recently appointed its first Chief AI Research Officer, Dr. Maja Pantic.

Pantic is currently a Professor of Affective & Behavioral Computing at Imperial College London. Before that, she was a founding research director of Samsung AI Research Center in Cambridge and AI scientific research director at Meta London.

What Is Pantic’s Role At NatWest?

With a lengthy background in the sector, Pantic possesses the experience and knowledge that NatWest is seeking. 

Her role at the bank will be to develop AI use cases for multimodal AI, aimed at combating deepfake threats and threats involving Generative AI (GenAI). This will include the progressive roll-out of artificial intelligence for bank-wide simplification through the development of new tools that would improve productivity.

Commenting on the matter, NatWest Group’s CIO, Scott Marcar, stated that this is not the first time that he has argued that AI is helping NatWest with simplifying its offerings and services. He believes that AI can help the bank transform customers’ experience and become a trusted partner at a time when that matters most.

This is why Pantic’s appointment is an important and exciting milestone, as Marcar noted, highlighting that she possesses unique skills and experience that will enable the bank to adapt and meet customers’ changing needs more quickly and effectively. At the same time, her introduction to the team will complement the team’s existing capabilities.

NatWest’s AI Strategy Is Progressing Successfully

The appointment of the bank’s first chief AI research officer comes as the latest step in bringing its AI strategy to reality. Previously, the bank entered into a collaboration with one of the leading AI companies, OpenAI. Apart from that, it also rolled out its internal GenAI platform to all staff members, and it reported success in the way its virtual assistant tools, Cora+ and AskArchie+, have been operating.

NatWest further said that the GenAI functionality that Cora+ has to offer has brought a 150% improvement in customer satisfaction. Simultaneously, it reduced the number of times colleagues needed to intervene, while AskArchie+ saw similar benefits.

The post NatWest Appoints Dr Maja Pantic As Its First AI Official appeared first on Economy Watch.

PayPal recently announced that it aims to enhance the utility of its stablecoin by integrating it on the third major blockchain — the high-speed, low-cost Stellar Network.

So far, PayPal’s PYUSD stablecoin has already gone live on two major blockchains, Ethereum and Solana. Next, PayPal hopes to see it go live on Stellar, but for now, it is still awaiting regulatory approval from the New York State Department of Financial Services.

Benefits of Launching PYUSD on Stellar

The payments giant has listed several benefits that its stablecoin could gain by joining Stellar, including fast and affordable real-world payments, as well as various use cases in areas such as commerce, remittances, and micro-financing.

In addition, the move would provide the stablecoin with access to Stellar’s massive network of on- and off-ramps. This would provide even more access through digital wallets, in addition to connecting it to various other cash networks and local payment systems.

May Zabaneh, PayPal’s VP for blockchain, cryptocurrency, and digital currency group, stated that the company views cross-border payments as a key area. This is where digital currencies can provide real-world value, which is why working with Stellar could help advance the use of this technology. Not to mention all the benefits for the users, including low-cost, fast international payments.

Additionally, PayPal is also touting enhanced liquidity and financing opportunities that could emerge through Payment Financing, or PayFi. The company explained that many small to medium-sized businesses (SMBs) face delayed receivables or pre-funding requirements, and this new sector would enable them to access additional sources of real-time working capital, which would be disbursed in PayPal’s stablecoin.

PayPal’s Stablecoin Passes The SEC’s Check

Commenting further, Zabaneh stated that stablecoins are one of the most practical tools in the cryptocurrency industry, as they combine the speed offered by blockchain with the price stability of fiat currencies. The US Securities and Exchange Commission (SEC) already concluded its investigation of PYUSD earlier this year, in April, with no enforcement actions taken.

The SEC informed the company that it was closing the inquiry, which had begun in November 2023, with a subpoena issued against it. At the time, the regulator requested documents related to the stablecoin’s launch and operations, and PayPal complied. The fact that the SEC did not launch any legal action was taken as confirmation that there were no issues identified with the token.

The post PayPal’s Stablecoin Is Ready To Move To Stellar Network appeared first on Economy Watch.

China has reportedly granted temporary export licences for rare earth to suppliers of the top three US automakers. The move has come as a big relief to the US automotive industry and comes shortly after President Donald Trump spoke to his Chinese counterpart, Xi Jinping.

For context, China, which produces around 90% of the world’s rare earth elements that are critical for the production of things like automotive, and are crucial for the green energy transition, restricted their exports in April after Trump imposed massive “reciprocal tariffs” on the communist country.

China Restricted Exports of Rare Earth Elements

The shortage of rare earth minerals had started to hurt US companies, and last month, Ford briefly suspended the production of its Explorer SUV at its Chicago plant due to the issue.

China’s restrictions on rare earth exports had started to bite automakers in other countries, too. “The European automotive supply industry is already experiencing significant disruption due to China’s recent export restrictions on rare earth elements and magnets. These restrictions have led to the shutdown of several production lines and plants across Europe, with further impacts expected in the coming weeks as inventories are depleted, according to the European Association of Automotive Suppliers’ statement.

It added, “The current challenges underscore the importance of constructive China-EU cooperation to ensure stable and resilient supply chains for the global automotive sector.”

Maros Sefcovic, the European Union’s trade commissioner, said the issue of rare earth exports was a “priority” in his meeting with Chinese commerce minister Wang Wentao on Tuesday. The two met on the sidelines of the Organization for Economic Cooperation and Development conference in Paris.

A day after the meeting, Sefcovic said, “I informed my Chinese counterpart about the alarming situation in the European car industry, but I would say industry as such because clearly rare earths and permanent magnets are absolutely essential for industrial production.”

US-China Trade Tensions

Earlier this week, Trump and Xi held a call amid signs that the trade truce that the two countries reached in May was not holding up. Both sides accused each other of violating the agreement that they reached in Geneva.

The call was first announced by Fu Cong, China’s ambassador to the United Nations. Trump later confirmed the call in a Truth Social Post and said, “I just concluded a very good phone call with President Xi, of China, discussing some of the intricacies of our recently made, and agreed to, Trade Deal.”

He added, “The call lasted approximately one and a half hours, and resulted in a very positive conclusion for both Countries. There should no longer be any questions respecting the complexity of Rare Earth products. Our respective teams will be meeting shortly at a location to be determined.”

Trump clarified that the call was entirely focused on “trade” and other issues like the Iran or Russia/Ukraine conflict were not discussed. The two sides are now set to meet in London next week to hold trade talks.

China Has Weaponized Its Rare Earth Exports

Meanwhile, China has weaponized its rare earth exports, which have raised alarm bells in several countries given their centrality to the production of gadgets, vehicles, and consumer goods.

While China has reportedly started issuing licenses for exports of these minerals, many believe they are a potent weapon for China to put pressure on not only the US but also other countries.

“The simple truth is we don’t have a lot of precedent for this. The export controls are a dream tool for Beijing; they can tweak, tighten, loosen, make it apply to all countries or to one country,” said Andrew Gilholm, head of China analysis at consultancy Control Risks.

Citing an analysis from Trivium, a Beijing consultancy, the Financial Times reported, “If Beijing wanted to respond to future escalations, such as further tightening of chip controls by the US, it could restrict flows of materials such as titanium, magnesium, and light rare earths so far excluded from the new licence system.”

According to Jin Canrong, a professor of international relations at Renmin University in Beijing, “I hadn’t realized just how important this rare earth card was before. Now the US side is clearly anxious and eager to resolve this issue.”

He added, “But of course, we’ll link this issue to others – the US is restricting China on chips and jet engines, then China certainly has every reason to make use of this card.”

US Restricted Exports of Advanced AI Chips to China

Notably, the US has restricted the exports of high-end artificial intelligence (AI) chips to China. In April, the-Trump administration announced export controls on Nvidia’s H20 chips. Nvidia had designed these chips for China after the Biden administration had barred the company from exporting its top-of-the-line chips to the Communist country. After the Trump administration’s ban on exports of H20 chips, Nvidia wrote off its inventory by a mammoth $5.5 billion.

There is an apparent AI war between the US and China. While the former blocked companies from exporting top-end AI chips to China, citing possible military use, many, including Nvidia CEO Jensen Huang, believe that the policy hasn’t succeeded.

Some others believe that the US export control rules are counter-productive and have only hastened China’s progress in AI.

“The effects of the controls are twofold. They have the impact of reducing the ability of U.S. companies to access the China market and, in turn, have accelerated the efforts of the domestic industry to pursue greater innovation,” said Paul Triolo, Partner and Senior VP for China at DGA Group.

He added, “The bottom line is, the controls have incentivized China to become self-sufficient across these supply chains in a way they never would have contemplated before.”

On a similar note, after China’s restrictions on exports of rare earth elements, other countries are looking to diversify their supply chain and find alternate sources. However, building a resilient supply chain would take time, given China’s current lead in the industry.

The post China Grants Temporary Rare Earth Export Licences After Trump-Xi Call appeared first on Economy Watch.

The UK’s financial regulator is reviewing its stance on crypto investments and is planning to remove the current restrictions on retail access to crypto exchange-traded notes (cETNs). This proposed change reflects a growing willingness to integrate crypto-related products into traditional financial markets.

If approved, this change would let UK retail investors trade crypto ETNs on FCA-regulated exchanges. Other jurisdictions have already taken similar steps, making this shift a move toward international alignment. At present, only professional investors in the UK are permitted to access crypto ETNs.

FCA Seeks Market Growth While Protecting Crypto Consumers

Under the new proposal, individual consumers would be able to trade these products via recognised investment platforms, but only within a tightly controlled regulatory environment. Clear risk disclosures would be mandatory, and advertising rules would be made consistent with those already applied to direct purchases of crypto assets.

The regulator explained that this consultation is part of its effort to strengthen the competitiveness and growth of the UK’s crypto market. It noted that rethinking the current risk approach could give people the freedom to decide whether or not to engage in what remains a high-risk area, where investors must understand they could lose the entire amount they put in.

While the FCA is considering loosening rules on crypto ETNs, it is maintaining its cautious approach. The ban on retail investors accessing crypto asset derivatives will remain unchanged for now.

The regulator continues to keep a close watch on the market and remains firm in its commitment to protecting consumers from potentially harmful financial products. This proposal fits within the FCA’s broader goal to establish a clear and comprehensive set of rules for crypto assets.

It builds upon earlier discussions on topics like stablecoins and other planned regulatory measures, all aimed at encouraging responsible innovation in the crypto sector.

FCA Wants To Ease Regulatory Burdens While Supporting Innovation

In its latest consultation report, the FCA also proposed a number of broader regulatory reforms intended to reduce burdens across the financial industry. These include streamlining the reporting obligations for firms assessing fund value, which is expected to bring down costs for nearly 150 asset managers overseeing thousands of investment funds.

Additionally, the FCA wants to eliminate the need for firms to submit data it considers unnecessary, which would benefit a wide range of businesses in the sector. Altogether, these proposals illustrate the regulator’s dual objective: to foster innovation and market expansion while continuing to uphold investor protections.

The Financial Conduct Authority (FCA) serves as the independent financial regulator in the UK. Though not part of the government, it funds its operations by charging fees to financial firms. It oversees businesses that provide financial services to the public, ensuring fair conduct and safeguarding the soundness of the UK’s financial markets. The FCA’s focus spans both retail and wholesale sectors.

Like its forerunner, the Financial Services Authority (FSA), the FCA is organised as a company limited by guarantee. It works closely with both the Prudential Regulation Authority and the Financial Policy Committee to establish and enforce rules for the financial system.

The FCA oversees the behaviour of around 58,000 businesses, which collectively employ more than two million people and contribute a significant amount of tax revenue to the UK economy.

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ZEN.COM, a fintech company based in Europe, has joined with Episode Six to expand its card services. The partnership will help ZEN.COM launch in Asia and grow its programs across Europe. Episode Six will provide the tools needed to issue cards and manage payments. The two companies are working together to bring faster and more flexible options to users.

Episode Six builds the systems that help financial companies run card programs and handle transactions. ZEN.COM chose Episode Six for its strong reach in Asia and quick delivery. With this setup, ZEN.COM can keep control of its own system while using Episode Six’s tech to support the rest.

Zen.com Sought A Partner To Support Its Growth And Speed

ZEN.COM said it wanted a partner that could match its speed and support its growth. Episode Six’s experience in global markets helped build trust between the two teams. The plan is to launch card services that work well across borders and still feel local to each user.

John Mitchell, leader and Co-Founder of Episode Six said ZEN.COM is entering an important stage of growth, and the company is glad to be part of that journey. He noted that this partnership reflects what many clients are asking for—speed, flexibility, and more control over how they build their services.

Michal Boguslawski, leader of ZEN.COM Europe, said the company is growing across Europe and moving into Asia, so it needs partners who can keep up and share its vision. He revealed that Episode Six was the right choice because it offers fast, flexible, and reliable support that matches ZEN.COM’s goal.

The fintech world is changing, and many companies are moving away from old systems. Episode Six said their platform lets businesses launch quickly without starting from scratch. Their tools are built to support fast updates and custom features, which help firms stay competitive.

ZEN.COM offers services like multi-currency accounts, cashback, and fast transfers. The company said its goal is to help users manage money easily, no matter where they are. It also gives customers different ways to add funds, including through cash and bank transfers.

ZEN.COM Joins Global Fintech Growth By Entering The Asian Market

By entering the Asian market, ZEN.COM joins other fintechs looking to grow globally. Episode Six said its presence in the region will help smooth the process. Local support means fewer delays and better service for new users in those areas.

ZEN.COM said having more control over its systems lets it shape services to fit its style. Instead of following one setup, it can design card programs that feel right for its brand. That flexibility is one of the reasons it chose to work with Episode Six.

More companies are choosing platforms like Episode Six because the firm offers the freedom to grow. The firm said its tools help partners build products their own way, without being held back by older setups. With this deal, both ZEN.COM and Episode Six are aiming to give users better and faster ways to manage money.

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OneSpan Inc. has revealed that it has acquired Nok Nok Labs Inc., a top provider of passwordless authentication software based on FIDO standards. This move allows OneSpan to push the industry toward a safer digital future by offering users a broader set of adaptable and future-focused authentication options.

This partnership, together with OneSpan’s newly released FIDO2 security keys, strengthens the company’s global offering. It brings forward what the company describes as the most complete and innovative authentication toolkit available.

OneSpan Enhances Authentication Flexibility With Nok Nok Acquisition

Whether clients use on-premises setups or cloud environments, or need One-Time Password or Fast Identity Online support, OneSpan now offers extensive flexibility.

Clients can also choose between software or hardware methods, including Digipass, Cronto, or FIDO2-based transaction signing. The company supports an unmatched level of choice for meeting a wide range of authentication requirements.

Victor Limongelli, who is the Chief Executive Officer of OneSpan, said the move was more than simply bringing another company into the business. He explained that it was a significant step aimed at providing customers with the widest possible range of authentication choices.

He mentioned that OneSpan was expanding its entire authentication platform to include the Fast Identity Online standards. Also, the company believed passwordless solutions were an important part of the future of the industry.

Limongelli added that OneSpan was now incorporating Nok Nok’s advanced technology and strong expertise in the Fast Identity Online protocol. He said this allowed the company to offer the most flexible and complete authentication solution currently available.

Nok Nok Aims To Expand Passwordless Authentication Reach

Nok Nok, as one of the founding members of the FIDO Alliance, has played a central role in shaping the passwordless authentication landscape worldwide. Serving customers across North America, Europe, and Asia, Nok Nok provides trusted, standards-compliant security platforms built to integrate smoothly and scale efficiently.

Their technology supports both UAF and FIDO2 protocols, giving enterprises the tools to satisfy various regulatory demands and business goals. Nok Nok has consistently led the field by introducing new methods that make digital authentication more secure and user-friendly.

Phillip Dunkelberger, who is the President and Chief Executive Officer of Nok Nok, stated that becoming part of OneSpan represented an exciting and important moment for both their team and their products.

He explained that Nok Nok had always supported open authentication standards such as the Fast Identity Online protocol. Dunkelberger believed that, with OneSpan’s international presence and innovative strengths, they would now be able to bring their vision to a much wider group of users around the world.

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