Amrita Ahuja urged policymakers not to regulate BNPL like credit cards as Block said it continued to “assess potential impacts” relating to the collapse of SVB.
that may require credit card-style expense checking of customers which Afterpay fears will slow down growth.She declined to be drawn into the collapse of Silicon Valley Bank or the US Federal Reserve’s move to protect its depositors. Block, which is led by Jack Dorsey, said it had some deposits at SVB – which– and continues to monitor for risks relating to the fallout amid jittery global markets.
“We actually see a very healthy consumer landscape,” she said. “Now, we want to be very mindful of the macro environment [we] are in, and will be reading the data in real time. But we have strengthened Block’s overall balance sheet.” Like banks, she said Block’s treasury operations benefit from higher interest rates, which boost the returns on its invested funds.
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