Retail Sales up 3.1% And Other Digital Transactions News briefs from 12/26/23

U.S. retail sales, excluding automotive products, grew 3.1% year-over-year in the Nov. 1 through Dec. 24 period, according to Mastercard Inc.’s SpendingPulse. The result is not adjusted for inflation. Standouts were e-commerce sales, up 6.3%, and restaurants, at 7.8%. The worst performer was jewelry, at negative 2%.
Blockchain operator Paxos said it will expand stablecoin issuance to the Paxos blockchain starting Jan. 17. Up to now, Paxos’s stablecoin has been exclusive to the Ethereum platform. A stablecoin pegs its value to a national currency, such as the U.S. dollar.

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