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Theres a gap in the financial services market when it comes to integrating crypto into the mainstream financial system. FinXP is a European fintech company that is working to close this gap and help boost crypto adoption. It is a trusted partner for crypto companies requiring fiat banking and payment solutions; solutions that have now become notoriously limited in the sector.

While there is distrust around crypto in the mainstream financial industry, crypto use and adoption continue to grow. The global market for cryptocurrency was worth $4.67 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.5% from 2023 to 2030.

The average daily trading volume for crypto sits at around $50 billion. In 2020 there were over 120 million financial transactions made with Bitcoin, the largest and most valuable crypto.

By 2027, it is predicted that crypto will have over 993 million users globally. This will bring user penetration from its current rate of 8.8% to approximately 12.5% worldwide. However, there is a significant barrier that is hurting the retail adoption of crypto. That is the difficulty that many have in finding an onramp to convert easily between crypto and fiat currency.

Traditional banking institutions have been skeptical about crypto adoption and transacting with crypto exchanges. The problem has grown more acute in the short term, as major players in the cryptocurrency banking industry, such as Signature Bank and Silvergate Bank, have pulled out of the sector.

In recent months there have also been moves made by regulators in an attempt to slow down transactions between crypto exchanges and banks. In 2020, 63% of financial institutions still described crypto as a risk rather than an opportunity.

Allowing users to deposit and withdraw fiat funds through crypto exchanges is key to onboarding the growing base of crypto users. This gap in the fintech market has created a space for forward-thinking alternatives to traditional banking.Why Exchanges Are Turning To Closed-Loop Payments

One solution that seems to be gaining traction in the fintech space is closed-loop payments. A closed-loop payment system is where both the end-user and the merchant share a common payments ecosystem.

If both a crypto exchange and its users hold accounts with the same banking partner, then payments between them would be fast, approval would be almost guaranteed, and cross-border payments wouldnt be an issue.

User accounts could also be linked to debit cards enabling individuals to more easily spend or withdraw their funds, thus adding to the utility of the account.

Closed-loop payment systems are seeing increasing popularity, with almost two-thirds of fintech and payment firms saying they will launch a closed-loop payment product by the end of 2023. A reason for their popularity is their high transaction approval rate and their ability to simplify and increase the speed of cross-border transactions.

FinXP is a leading provider of closed-loop payments for crypto exchanges. As an award-winning payments and banking solutions provider, FinXP stands out by not just providing banking solutions to the crypto industry, but they also offer several payment processing solutions.

The company works with crypto exchanges and crypto wallet providers to provide specialized custom payment solutions. It believes that many crypto investors are willing to open an IBAN account specifically to facilitate trading and investing in crypto. Its confident that its solutions can help boost crypto adoption and increase customer loyalty for its clients.

Visit FinXPs website to learn more about the company, or stay up to date with the industrys news and subscribe to FinXPs newsletter.

Read prior coverage by Benzinga on FinXP here.

Image used under license from FinXP from stock.adobe.com.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

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Any Given Saturday: New college football paradigm brings chaos, huge buyouts

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Any Given Saturday: New college football paradigm brings chaos, huge buyouts

Any Given Sunday. That’s pro football’s mantra about how even the league’s worst team is capable of beating its best.

The NFL’s average margin of victory this season: 10.8 points.

The average margin of victory in Southeastern Conference games this season? Try 10.03.

Parity — at least a measure of it — has come to college football. It’s a byproduct of the transfer portal, NIL and direct revenue-sharing. Anybody can be good these days … or at least good enough for one game.

Any Given Saturday.

Ancient Heismans in a trophy case and conference championship banners on the wall won’t hurt a program’s recruiting, but they sure don’t matter as much as they used to. This is about transactions, not tradition. The talent has spread.

In the top 10, the Associated Press poll features Indiana (2), Georgia Tech (7) and Vanderbilt (10).

Meanwhile, Penn State, Florida, Arkansas and UCLA have each already fired their coach this season. The mood also isn’t great at Florida State, Auburn, LSU or Wisconsin. There are even grumbles at 3-3 Clemson (among many others).

College football has never been this competitive, this wild — or this interesting. The fun isn’t being hoarded by a few super powers. The good teams aren’t as good and the bad teams aren’t as bad. The chase for the playoff now runs dozens of teams deep. Seasons can swing on a dime.

Two Saturdays ago, Arizona State lost to Utah by 32 points. Last Saturday, a sold-out stadium of Sun Devils stormed the field to celebrate beating then-No. 7 Texas Tech 26-22 and keeping ASU’s playoff hopes alive.

It’s fantastic.

It also has left college football in a strange place, caught between two eras.

In an earlier era, major programs that have invested heavily for generations are expected to beat the teams they have always beaten. Losses to non-name brands have traditionally been a sign of a failed operation with no hope for the future.

For example, two weeks ago Penn State should have handled a 3-2 Northwestern team the way the Nittany Lions once defeated 34 consecutive unranked opponents under James Franklin.

But we’ve entered a new day when just about any team can put together a strong roster on the fly. Even if those schools don’t surge up the polls as Indiana and others have, they can at least be competitive enough to beat you.

A new, active dollar, with money sent directly to players (or invested in top-line scouting) is more valuable than the old, passive dollar that paid for fancy locker rooms.

The result: Northwestern 22, Penn State 21. One of the difference-makers for Northwestern wasn’t a former five-star recruit, but Griffin Wilde, who caught seven passes for 94 yards and a touchdown. He arrived this season as a transfer … from South Dakota State.

Compounding everything is that programs of all sizes have asked their boosters to fund rosters, and that brings new expectations. It’s one thing to absorb a perceived bad loss when you’ve paid for a ticket to the game. It’s another when you’re helping to pay the quarterback. Rolled heads are demanded, ASAP.

Hence, Penn State fired Franklin despite his 104-45 record at the school.

Was Franklin’s dismissal justified? Or Billy Napier at Florida, or Sam Pittman at Arkansas, or Mike Gundy at Oklahoma State, or so on and so on thus far?

Sure. You get paid like these guys, you have to deliver. High salaries, high stakes. There is no such thing as “fair.”

Part of what makes college football great is that it is hardwired to reject patience and perspective, even if patient might be the exact thing programs need to be. No one was calling for Andy Reid’s job in Kansas City when the Chiefs started 0-2.

Yet here in late October, almost anyone not still in the playoff chase is thinking about canning their coach. Even a few who clearly can win the national title aren’t far removed from such discussions — do we have to fire up “The Paul Finebaum Show” from last month after Alabama lost to Florida State?

Regime change costs a fortune, yet it happens anyway. Penn State is on the hook for as much as $49 million for discarding Franklin. If Florida State cuts Mike Norvell, it owes $50 million-plus. He led the Seminoles to a 13-0 regular season in 2023. They are 5-15 since. Norvell is 44 years old. The last time Florida State won an ACC game, he was 42.

Castles crumble that fast these days.

Not everyone can win, but everyone thinks they should.

Not only are there not enough great coaches out there, and no one, in this system, can even say what makes a great coach. Old attributes such as recruiting charm or multiyear program development matter less. In-game strategy and talent identification matters more.

The margins are thin. The buyouts are huge. Half the sport is upside down.

Welcome to the chaos. Enjoy the show.

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Clemson WR Wesco out remainder of season

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Clemson WR Wesco out remainder of season

Clemson leading receiver Bryant Wesco Jr. will miss the rest of the season after sustaining a back injury against SMU this past weekend.

Coach Dabo Swinney said Monday that Wesco had a “very serious” back injury but did not disclose more details. Wesco was injured on a punt return, when he landed almost directly on his head/neck area after a low tackle sent him somersaulting in the air upside down.

Though he got up and walked to the sideline on his own, he never returned to the field and was taken to the hospital in Greenville, South Carolina, for further evaluation.

Swinney said Wesco was released from the hospital Monday and was resting at home, and that the injury could have been far worse.

“It was a very, very scary injury, and the doctors did an amazing job,” Swinney said in a teleconference with local reporters.

“The doctors are very confident he’ll make a full recovery. Definitely something that’ll keep him out the rest of this season, but thankful that all indications are he’s going to be OK. Just a real blessing for that.”

Wesco leads Clemson with 31 catches for 537 yards and six touchdowns. He thanked those who sent him prayers on his Instagram stories Monday.

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Saban: High-profile firings product of pay-for-play

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Saban: High-profile firings product of pay-for-play

Former Alabama coach Nick Saban said he isn’t surprised by the recent string of high-profile firings in college football because fans and alumni who donate money to programs now are more influential than ever because of name, image and likeness, and revenue sharing.

There have already been nine in-season firings at FBS schools this season, including six at programs in Power 4 conferences.

“You know, I’m not [surprised] because everybody’s raising money to pay players,” Saban said. “So, the people that are giving the money think they have a voice and they’re just like a bunch of fans. When they get frustrated and disappointed, they put pressure on the [athletics directors] to take action, and it’s the way of the world.”

On Sunday, Florida fired Billy Napier, who was 22-23 in four seasons. The Gators owe Napier about $21 million, with half of that buyout due within 30 days. The remainder will be paid in three annual installments starting next summer.

Penn State owes former coach James Franklin roughly $49 million after it fired him on Oct. 12. It’s the second-biggest buyout in college football history behind only Jimbo Fisher’s $76 million buyout from Texas A&M following his firing in 2023.

It’s unfair as hell,” Saban, now an ESPN analyst, told Franklin during the fired coach’s appearance on “College GameDay” last Saturday. “For you to go to the Rose Bowl, Fiesta Bowl, get to the final four [of the CFP], come out being ranked [No. 2] this year — an expectation that you created by what you accomplished at Penn State — and for those people not to show enough appreciation for that and gratitude for all the hard work that you did, I’m saying it’s unfair.”

Some of what the Nittany Lions owe Franklin, whose teams had a 104-45 record in his 11-plus seasons, might be offset by his salary at his next coaching job.

Sam Pittman (Arkansas), Mike Gundy (Oklahoma State), DeShaun Foster (UCLA) and Brent Pry (Virginia Tech) also were let go this season.

Foster, Gundy, Pittman and Pry were fired before October.

Stanford fired Troy Taylor on March 25 after two outside firms had found he bullied and belittled female athletic staffers and sought to have an NCAA compliance officer removed.

According to reports, the nine schools who have fired their head coaches are on the hook for about $116 million in buyout money, some of which will be offset if they get new jobs.

“It’s really different,” said Saban, who retired from Alabama in January 2024.

“Not in a good way from a developmental standpoint; a good way from a quality-of-life standpoint [for the players]. But we need to find a system that improves the quality of life of players but still focuses on the right stuff — development, getting an education, all those kinds of [things].”

Nine weeks into the 2025 season, the coaching carousel seems far from over. On Monday, Florida State AD Michael Alford said in a statement that a comprehensive review of the football program will occur after the season.

The Seminoles dropped their fourth straight game 20-13 at California on Saturday, to fall to 0-4 in the ACC. FSU has dropped nine straight ACC games going back to the 2024 season.

The Seminoles would owe embattled coach Mike Norvell about $54 million in buyout money. It would cost FSU about $72 million to pay off Norvell and his staff, sources told ESPN’s Andrea Adelson.

Wisconsin‘s Luke Fickell, who has a 15-18 record in his third season with the Badgers, received a vote of confidence from athletics director Chris McIntosh on Monday.

In a letter to Wisconsin fans, McIntosh wrote that the athletics department would make a stronger commitment to the football program and would move ahead with Fickell, who would be owed more than $25 million if he were fired this season.

Auburn‘s Hugh Freeze, Kentucky‘s Mark Stoops, Maryland‘s Mike Locksley, Clemson‘s Dabo Swinney and LSU‘s Brian Kelly are also catching heat after disappointing starts this season.

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