Latest news with #JackMcDonald
Arabian Post
5 days ago
- Business
- Arabian Post
Dubai Grants RLUSD Stablecoin Regulatory Approval, Expanding Ripple's Regional Reach
Ripple's US dollar-pegged stablecoin, RLUSD, has secured regulatory approval from the Dubai Financial Services Authority , authorising its use within the Dubai International Financial Centre . This development enables RLUSD to be integrated into Ripple's DFSA-licensed payments platform and utilised by other DFSA-registered entities operating in the DIFC. The approval positions RLUSD among a select group of stablecoins recognised under the DFSA's crypto token regime, which includes Circle's USDC and EURC. RLUSD is designed for enterprise use, offering features such as 1:1 USD backing with high-quality liquid assets, segregated reserves, third-party audits, and clear redemption rights. It is issued under a New York Department of Financial Services Trust Company Charter, subjecting it to stringent regulatory standards. Reece Merrick, Ripple's Managing Director for the Middle East and Africa, noted the growing interest from businesses in the UAE for cross-border payments and digital asset custody solutions. He emphasised the dynamic nature of the UAE's digital economy and expressed optimism about RLUSD's role in facilitating real-time, cost-effective international transactions. ADVERTISEMENT Ripple is collaborating with local partners, including digital bank Zand and fintech platform Mamo, who are expected to be early adopters of RLUSD. Additionally, RLUSD will support the Dubai Land Department's initiative to tokenize real estate title deeds on the XRP Ledger, aiming to digitize and record property ownership using blockchain technology. The DFSA's recognition of RLUSD follows Ripple's earlier approval to offer blockchain-powered payment solutions within the DIFC, obtained in March. This dual approval allows Ripple to integrate RLUSD into its global payment services in Dubai and the UAE, while also enabling other DFSA-licensed firms in the region to incorporate the stablecoin into their offerings. Jack McDonald, Ripple's Senior Vice President of Stablecoins, stated that the DFSA's approval validates RLUSD as a trusted and compliant stablecoin built for global business. He highlighted the stablecoin's potential to bring value across payments, decentralised finance , and real-world asset tokenization.
Yahoo
6 days ago
- Business
- Yahoo
UPLD Q1 Earnings Call: Revenue Miss and Margin Expansion Amid Portfolio Reshaping
Business automation software provider Upland Software (NASDAQ: UPLD) fell short of the market's revenue expectations in Q1 CY2025, with sales falling 10% year on year to $63.66 million. Its non-GAAP EPS of $0.23 per share was 32.7% above analysts' consensus estimates. Is now the time to buy UPLD? Find out in our full research report (it's free). Revenue: $63.66 million (10% year-on-year decline) Adjusted EPS: $0.23 vs analyst estimates of $0.17 (32.7% beat) Adjusted Operating Income: $11.36 million vs analyst estimates of -$4.96 million (17.9% margin, significant beat) Revenue Guidance for Q2 CY2025 is $53.3 million at the midpoint, below analyst estimates of $60.38 million EBITDA guidance for the full year is $59.5 million at the midpoint, above analyst estimates of $58.58 million Operating Margin: -1.7% Market Capitalization: $52.7 million Upland's first quarter results were driven by continued product portfolio narrowing and operational changes, as management focused on divesting lower-margin assets to sharpen its market focus. CEO Jack McDonald highlighted key wins for Upland's AI-enabled offerings and noted that 107 new customers joined during the quarter, with 19 classified as major accounts. The company's emphasis on recurring revenue and customer retention was apparent, as McDonald said, '93% of our revenue is recurring,' and pointed to a net dollar retention rate of 99% for the core business after recent divestitures. Management acknowledged the impact of divestitures on reported revenue, with CFO Mike Hill stating that some customer implementations allowed for earlier revenue recognition than expected, especially in the InterFAX product line, which saw increased usage. Looking ahead, Upland's guidance reflects an expectation for continued margin expansion and a renewed focus on high-growth, high-margin segments following recent asset sales. Management projects core organic growth turning positive in the second quarter and strengthening through the year, with adjusted EBITDA margins rising to 26% in the coming quarter and further in the second half. McDonald emphasized that 'we have now turned the corner and anticipate, beginning here in Q2, positive core organic growth for the business, together with higher margins.' The company expects recurring revenue and improved product focus to support higher net retention and longer customer lifetimes, but acknowledged that macroeconomic headwinds, including potential tariff disruptions, could still affect the outlook. Continued debt reduction and disciplined investment in product development remain central to Upland's strategy. Management attributed first quarter results to increased focus on core product lines, targeted divestitures, and strength in AI-enabled offerings, while highlighting improved operational efficiency and customer retention. AI product momentum: Upland saw notable expansion across its AI-powered product portfolio, with wins in sectors requiring compliance and knowledge management. The company reported new customer deals for its Panviva and RightAnswers platforms, which offer contextualized, AI-driven knowledge solutions tailored for regulated industries. Go-to-market realignment: Upland recently terminated its Chief Sales Officer and shifted sales responsibilities to general managers of product groups. Management stated this change enhances focus and efficiency, aligning sales efforts more closely with individual product lines and market needs. Divestiture impact: The sale of Upland's mobile messaging product lines post-quarter-end sharpened the company's focus on higher-margin, higher-retention products. Management noted that this move increased the net dollar retention rate for the core business to 99% while reducing reported revenue guidance. Product development leverage: The completion of Upland's India-based development center at the end of last year has improved R&D productivity, allowing for continued product enhancements without increasing total R&D spend as a percentage of revenue. Operational discipline: Upland used proceeds from divestitures and free cash flow to pay down $34.2 million in debt during the quarter, with net leverage expected to decline further as cash generation continues. The company's operational changes contributed to a significant improvement in adjusted EBITDA margin. Upland's outlook is shaped by its renewed product focus, expanded AI capabilities, and continued operational streamlining, with margin expansion expected to offset revenue headwinds from divestitures. Refined portfolio strategy: Management expects the more focused product set—centered on AI-enabled solutions for compliance-heavy industries—to drive higher organic growth and retention. The company projects core organic growth rates of 2% in the next quarter, with internal targets for further acceleration. Margin expansion drivers: Divestitures of lower-margin businesses and increased development efficiency are expected to raise adjusted EBITDA margins to 26% in the second quarter and higher levels in the second half of the year, supported by stable R&D spend and operational discipline. Risks and uncertainties: Management flagged the potential for macroeconomic disruptions—such as new tariffs—to slow improvements in organic growth. Additionally, the transition to a more streamlined sales structure introduces some execution risk as general managers take on broader responsibilities. In the coming quarters, the StockStory team will be watching (1) whether Upland's core organic growth rates accelerate as projected, (2) if margin expansion materializes amid ongoing cost discipline and a streamlined product portfolio, and (3) the effectiveness of the decentralized sales model in driving new and expanded customer relationships. Additional attention will be given to execution of AI product enhancements and the company's ability to sustain high net dollar retention rates. Upland currently trades at a forward price-to-sales ratio of 0.3×. At this valuation, is it a buy or sell post earnings? The answer lies in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Tahawul Tech
6 days ago
- Business
- Tahawul Tech
RLUSD approved by DFSA as recognised crypto token for use within DIFC
Ripple's RLUSD Stablecoin was approved by the DFSA for use in DIFC. Dubai — Ripple, the leader in enterprise blockchain and crypto solutions, announced that its stablecoin, RLUSD, has been approved as a recognised crypto token by the Dubai Financial Services Authority (DFSA) for use within the Dubai International Financial Centre (DIFC). This approval reinforces RLUSD's position as a trusted, enterprise-grade stablecoin, built with regulatory compliance, utility, and transparency at its core. Alongside today's approval under the DFSA's crypto token regime, RLUSD is one of the few stablecoins globally to be issued under a New York Department of Financial Services (NYDFS) Trust Company Charter. With stringent safeguards including 1:1 USD backing by high-quality liquid assets, strict reserve management and asset segregation, third-party audits, and clear redemption rights, RLUSD is designed to meet the highest expectations of both regulators and institutional users. 'The DFSA's approval of RLUSD is proof of our commitment to building a stablecoin that meets the highest standards of trust, transparency and utility,' said Jack McDonald, Senior Vice-President of Stablecoins at Ripple. 'With regulation-first design and enterprise-grade features, RLUSD is uniquely positioned to drive enterprise utility of blockchain technology across global markets, starting with cross-border payments.' Unlike stablecoins geared primarily toward retail users, RLUSD has been purpose-built for global enterprise utility, particularly in improving the speed, cost, and efficiency of cross-border payments. This recognition allows Ripple to integrate RLUSD into its DFSA–licensed flagship payments solution, combining the stability of a trusted digital dollar with a scalable, blockchain-based infrastructure and Ripple's extensive global payout network. This approval also enables other DFSA-licensed firms in the fast-growing DIFC to incorporate RLUSD into their virtual assets services. With almost 7,000 firms active at the end of 2024, this further supports the integration of high-quality stablecoins into Dubai's burgeoning digital assets and fintech ecosystem. Stablecoin adoption in the UAE is accelerating. According to market data, 2024 saw a 55% year-on-year increase in stablecoin transactions in the region, signalling strong demand for blockchain solutions that address the inefficiencies of traditional payment rails. With a $400 billion + market for international trade and one of the world's most progressive regulatory frameworks for digital assets, the UAE is well-positioned to become a global hub for stablecoin innovation and utility. 'The UAE continues to set a global benchmark for forward-thinking digital asset regulation and innovation,' said Reece Merrick, Managing Director Middle East and Africa (MEA) at Ripple. 'The DFSA's approval of RLUSD is yet another step forward for Ripple's operations in the region, and we're seeing huge interest from businesses of all sizes for cross-border payments and digital asset custody solutions. The UAE's digital economy is vibrant and incredibly dynamic, and we're looking forward to working with our regional partners, customers, and regulators to supercharge that growth.' RLUSD's recognition by the DFSA builds on Ripple's continued momentum in the region. Alongside the recent announcement of Zand Bank and Mamo as the first customers to adopt its regulated blockchain-enabled payments offering in the UAE, Ripple is also partnering with Ctrl Alt to support the Dubai Land Department's (DLD) pioneering Real Estate Tokenization Project, which will see real estate title deeds tokenized on the XRP Ledger.
Yahoo
03-06-2025
- Business
- Yahoo
Ripple's latest regulatory nod sends XRP on a rally
Ripple's latest regulatory nod sends XRP on a rally originally appeared on TheStreet. The Dubai Financial Services Authority (DFSA) has recognized the blockchain and crypto payments firm Ripple's RLUSD stablecoin as a crypto token for use within the Dubai International Financial Centre (DIFC), the firm announced on June 3. The DFSA is the financial regulatory body that oversees DIFC, Dubai's special economic zone. Introduced in December 2024, Ripple's RLUSD is a stablecoin, which is a type of cryptocurrency that, unlike usually volatile cryptocurrencies such as Bitcoin, maintains a stable value . A stablecoin is usually pegged to a fiat currency like the U.S. dollar or a commodity like gold. RLUSD, for instance, is pegged to the USD, which means that for every RLUSD token, there is a corresponding amount of U.S. dollars held in reserves. Ripple says its stablecoin, built for faster and cost-efficient cross-border payments, is primarily geared towards global institutions instead of retail customers. Ripple's Senior Vice President of Stablecoins, Jack McDonald, said: The DFSA's approval of RLUSD is proof of our commitment to building a stablecoin that meets the highest standards of trust, transparency and utility. The Dubai authority's nod allows Ripple to integrate its stablecoin into its DFSA-licensed payments solution. Other DFSA-licensed enterprises in Dubai's financial hub — nearly 7,000 firms at the end of 2024 — can also incorporate RLUSD into their crypto services. Notably, Ripple had already secured DFSA's approval on 13 March to offer regulated crypto payment services in the DIFC. The latest announcement sent XRP rising modestly from $2.18 to $2.22 at press time, as per Kraken's price feed. With a market cap of $130 billion, XRP is the fourth-largest cryptocurrency. Ripple's latest regulatory nod sends XRP on a rally first appeared on TheStreet on Jun 3, 2025 This story was originally reported by TheStreet on Jun 3, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
03-06-2025
- Business
- Finextra
Ripple's RLUSD stablecoin approved for use in the DIFC
Ripple, the leader in enterprise blockchain and crypto solutions, today announced that its stablecoin, RLUSD, has been approved as a recognised crypto token by the Dubai Financial Services Authority (DFSA) for use within the Dubai International Financial Centre (DIFC). 0 This approval reinforces RLUSD's position as a trusted, enterprise-grade stablecoin, built with regulatory compliance, utility, and transparency at its core. Alongside today's approval under the DFSA's crypto token regime, RLUSD is one of the few stablecoins globally to be issued under a New York Department of Financial Services (NYDFS) Trust Company Charter. With stringent safeguards including 1:1 USD backing by high-quality liquid assets, strict reserve management and asset segregation, third-party audits and clear redemption rights, RLUSD is designed to meet the highest expectations of both regulators and institutional users. 'The DFSA's approval of RLUSD is proof of our commitment to building a stablecoin that meets the highest standards of trust, transparency and utility,' said Jack McDonald, Senior Vice President of Stablecoins at Ripple. 'With regulation-first design and enterprise-grade features, RLUSD is uniquely positioned to drive institutional use of blockchain technology across global markets, starting with cross-border payments.' This recognition allows Ripple to integrate RLUSD into its DFSA-licensed flagship payments solution, combining the stability of a trusted digital dollar with a scalable, blockchain-based infrastructure and Ripple's extensive global payout network. Unlike stablecoins geared primarily toward retail users, RLUSD has been purpose-built for global enterprise utility, particularly in improving the speed, cost and efficiency of cross-border payments. The approval also enables other DFSA-licensed firms in the fast-growing DIFC to incorporate RLUSD into their virtual assets services. With almost 7,000 firms active at the end of 2024, this further supports the integration of high-quality stablecoins into Dubai's burgeoning digital assets and fintech ecosystem. Stablecoin adoption in the UAE is accelerating. According to market data, 2024 saw a 55% year-on-year increase in stablecoin transactions in the region, signalling strong demand for blockchain solutions that address the inefficiencies of traditional payment rails. With a $400BN+ market for international trade and one of the world's most progressive regulatory frameworks for digital assets, the UAE is well-positioned to become a global hub for stablecoin innovation and utility. 'The UAE continues to set a global benchmark for forward-thinking digital asset regulation and innovation,' said Reece Merrick, Managing Director Middle East and Africa (MEA) at Ripple. 'The DFSA's approval of RLUSD is yet another step forward for Ripple's operations in the region, and we're seeing huge interest from businesses of all sizes for cross-border payments and digital asset custody solutions. The UAE's digital economy is vibrant and incredibly dynamic, and we're looking forward to working with our regional partners, customers and regulators to supercharge that growth.' RLUSD's recognition by the DFSA builds on Ripple's continued momentum in the region. Alongside the recent announcement of Zand Bank and Mamo as the first customers to adopt its regulated blockchain-enabled payments offering in the UAE, Ripple is also partnering with Ctrl Alt to support the Dubai Land Department's (DLD) pioneering Real Estate Tokenization Project, which will see real estate title deeds tokenized on the XRP Ledger.
