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Stablecoins have a huge impact on the financial market as we know it, but more can still be done. Looking to take stablecoin usage to the next level in Hong Kong, Standard Chartered Bank (Hong Kong) Limited (SCBHK), Animoca Brands , and HKT have announced a joint venture (JV) to issue a Hong Kong dollar-backed stablecoin.
Looking to bridge the world of fiat and digitalcurrencies, Fipto , a blockchain-based payment infrastructure, is looking to make it easier for firms to integrate stablecoins and optimise existing global payment flows using blockchain.
But ask most people (even some in finance) what a stablecoin actually is, and the answers get a little fuzzy. With regulation finally catching up and central banks taking a closer look, stablecoins are stepping into the spotlight. So, What Is a Stablecoin? A stablecoin is a type of digital token. Is it safe?
Central banks across 66 countries are now in the advanced phases of exploring Central Bank DigitalCurrencies (CBDCs), with 44 pilots including the digital euro already underway. The popularity of stablecoins is also reaching new heights. The transfer volume of stablecoins hit highs of $717.1 stablecoins).
1 The Opinion provides supervisory guidance to EU national competent authorities (NCAs) on the application of PSD2 to CASPs and recommendations for longer-term legislative alignment under the upcoming third EU Payment Services Directive (PSD3) and the accompanying EU Payment Services Regulation (PSR).
A stablecoin issuer, once niche and volatile by association, had now joined the ranks of America’s oldest financial institutions. But beneath the bell-ringing and ticker symbols lies a deeper story - one that challenges our assumptions about what crypto is becoming, and who will ultimately control the future of digital finance.
StraitsX has launched its Singapore dollar-backed stablecoin, XSGD, on the XRP Ledger (XRPL), marking a new phase in its collaboration with Ripple to support real-time digital payments across Asia. Its a marker of where financial infrastructure is heading. said Liu Tianwei, Co-Founder and Deputy CEO at StraitsX.
Location Joburg Followers 5 Opinions 23 Follow Unfollow For years, stablecoins existed in a regulatory grey zone – popular as “digital cash” but lacking official oversight. policymakers have sketched out the first federal framework for payment stablecoins. This means the “stable” in stablecoin is now legally enforceable.
As the Financial Conduct Authority (FCA) prepares to take over full responsibility for regulating UK payments, new research from Equals Money reveals that combating fraud and tackling widespread delays are top priorities for higher-risk players in the industry. ” says Campbell. ” says Campbell.
Singapore embraces digitalcurrencies, combining cutting-edge innovation with solid regulations to ensure a safe trading environment. The Monetary Authority of Singapore (MAS) keeps the market secure through rules that protect investors while encouraging growth. Youre in the right place. What are Cryptocurrency Exchanges?
Community Your feed Latest expert opinions Groups Join the Community 23,368 Expert opinions 42,409 Total members 322 New members (last 30 days) 190 New opinions (last 30 days) 29,102 Total comments Join Sign in Pay with TRIO: The E-Commerce Breakthrough with Stablecoins. Stablecoins vs. Fiat for E-commerce. Stablecoins Pros.
Backed by the Australian Securities and Investments Commission (ASIC) , the Australian Prudential Regulation Authority (APRA) and the Australian Treasury, the project is led by the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC).
In late 2020, PayPal took its first crypto leap, letting users buy, sell, and hold select digitalcurrencies within their accounts. By 2024, its stablecoin PYUSD initially launched on Ethereum expanded to Solana for faster, lower-cost transactions. PYUSD is now on both Ethereum and Solana.
Home Announcements Crypto GFT makes bank stablecoin play External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. 0 8 hours Be the first to comment External This content is provided by an external author without editing by Finextra.
These consumers may be shopping for luxury items, but they also want to pay for groceries, plane tickets, and even fast food with digitalcurrency. External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Retailers are responding.
External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. It expresses the views and opinions of the author. For Ukrainian fintech, this is a chance to become part of the European ecosystem, not just its periphery.
Integration Bus: Connects ERP/TMS, SWIFT gateways, AML/KYC services, and tax authorities and translating between token events and legacy formats. Payment Authorization: Treasury defines smart contract on invoice match further lock CBDC tokens in escrow. It expresses the views and opinions of the author.
The Singapore-based fintech announced this week that it is planning to expand its crypto offerings in 2025 to include both a stablecoin and an exchange-traded fund (ETF) product. Project Guardian is sponsored by the Monetary Authority of Singapore (MAS). Finishing 2024 on a busy note, Crypto.com is already eyeing the new year.
Across the EU, operational resilience, real-time payments, and the steady rollout of the Markets in Crypto-Assets Regulation (MiCA) are redefining compliance baselines for digital finance. Globally, preparations for central bank digitalcurrencies and evolving open finance frameworks signal longer-term structural change.
Stablecoins vs. Fiat for E-commerce. Stablecoins Pros. Reduced Transaction Costs and Fees (including cross-border) Stablecoin transactions are significantly faster than traditional methods, often confirmed in seconds or minutes. There is a need to re-establish Trust between Buyers and Sellers. Pros and Cons.
Subscribe News | Interviews | Voice of the Industry | Watch & Learn | Reports | Cross Border Ecommerce Research | Company Database | Events News Nauru establishes a crypto asset regulator Monday 23 June 2025 15:45 CET | News The Government of Nauru has enacted legislation creating a regulatory body to oversee activities involving digital assets.
Justin Sullivan via Getty Images Dive Brief: Transferring money via stablecoins is a viable substitute for traditional payment rails, American Express CEO Steve Squeri told investors Friday during an earnings call. No,” Squeri said of stablecoins. Will they replace the existing payment rails? Theres more to play out,” he said.
External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. It expresses the views and opinions of the author.
The letter was sent five days after Trump signed the Genius Act into law Friday, offering a regulatory framework for stablecoins, amidst a backdrop of potential higher fees for financial transactions. On Monday, Trump’s social media company announced a $2 billion purchase of digitalcurrencies. Most Popular Block agrees to $12.5M
External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. It expresses the views and opinions of the author.
The Bank for International Settlements (BIS) has released a report, “Stablecoins: Regulatory Responses to Their Promise of Stability,” analysing the regulatory environments for stablecoins across seven distinct jurisdictions.
It’s been more than a year in the making — with no shortage of caution and criticism by lawmakers and regulators here in the states and in Europe — but Libra, the digitalcurrency backed by Facebook and a revolving cast of other tech firms, could debut as early as next month. Morgan stablecoin, known as JPM Coin, geared toward B2B.
Ripple, a provider of enterprise blockchain and crypto solutions, plans to introduce a stablecoin tied directly to the US dollar (USD), pending regulatory approvals. With the stablecoin market currently valued at approximately US$150 billion and expected to soar to over US$2.8
The age of digitalcurrencies might be fully upon us, but key questions swirl about how to issue and regulate cryptos – especially stablecoins. Bitcoin and other offerings have not yet evolved into real alternatives to sovereign monetary activities, but stablecoins present challenges. In a paper that debuted Tuesday (Nov.
The growing adoption of stablecoins across Asia marks a significant shift in the regions financial landscape. dollar-pegged stablecoins like USDT and USDC primarily dominate the cryptocurrency topography. Tether (CNHt) Tether CNHt is a stablecoin that is pegged to the offshore Chinese Yuan (CNY). Traditionally, U.S.
Stablecoins have been rising in conversation within the financial ecosystem of Singapore. As the name implies, stablecoins are digital assets designed to maintain a stable value relative to a reference asset, such as the US Dollar or gold.
The regulator of the nation’s banks has issued its first guidance on stablecoins , the cryptocurrency backed by traditional currency. . A letter by the Office of the Comptroller of the Currency (OCC) published on Monday (Sept. Allaire said this has been a long time coming.
While this can be exciting to witness, it also shows bitcoin’s massively unreliable nature — especially as a currency for goods and services. This is where stablecoins come into play. Stablecoins are much more fixed than normal cryptocurrencies. without the extreme volatility that comes with most other types of digital coins.
In Asia-Pacific (APAC), the payment landscape is rapidly evolving, driven by the integration of advanced technologies, growing use of alternative payment methods and the rise of digitalcurrencies. Total spending in the region for digital wallets amounted to almost US$10 trillion in 2023, led mostly by China.
The European Union (EU) is preparing to update its cryptocurrency rules that could make it more difficult for stablecoin projects, such as Facebook Inc.’s Last fall, the Libra Association petitioned the Swiss Financial Market Supervisory Authority ( FINMA ) for a Swiss payment system license for its planned cryptocurrency.
On 30 October 2023, HM Treasury (HMT) issued its long-awaited policy document on the regulation of fiat-backed stablecoins in the UK. Although there are a number of steps to go before the stablecoin regime comes into effect (with implementation anticipated in 2025), the 2023 papers give helpful insights into the direction of the new regime.
This move will enable clients to accept PYUSD as a payment method and facilitate cross-border transactions using the stablecoin. PYUSD, a US dollar-denominated stablecoin, is fully backed by US dollar deposits, US treasuries, and similar cash equivalents.
In today’s top news in digital-first banking, the Office of the Comptroller of the Currency (OCC) has issued stablecoin guidance, and Deutsche Bank intends to decrease the size of its brick-and-mortar footprint. Plus, Mesh Payments has launched a cardless payment offering that makes recurring and one-time payments easier.
5) that digitalcurrencies like Facebook’s Libra have no place in the European Union unless the consequences and pitfalls are adequately sorted out, Reuters reported. “No Tackling the challenges raised by global stablecoins requires a coordinated global response. EU finance ministers came to an agreement on Thursday (Dec.
Transforming Payments with CBDCs Singapores proactive exploration of Central Bank DigitalCurrencies (CBDCs) underscores its commitment to financial innovation and inclusion. The Monetary Authority of Singapore (MAS) is leading initiatives to promote the safe and innovative use of digitalcurrencies, setting a global benchmark.
Central bank digitalcurrencies (CBDCs) have largely existed in the virtual realm, with transactions initiated primarily through web and mobile interfaces. It was a contactless payment on POS using a card issued by Eurasian Bank JSC on the Way4 digital payments software system.
The Bank of Ghana continues to consider the creation of a digitalcurrency, GhanaWeb reported. Dr. Maxwell Opoku-Afari, the bank’s first deputy governor, reportedly said during a digital workshop that the bank remains steadfast in facilitating innovation and piloting ideas like a central bank cryptocurrency.
Of note, two-thirds (67%) of respondents expressed an interest in trading cryptocurrencies, with a nearly half showing a keen interest in Decentralised Finance (DeFi) and stablecoins. Paxos also supports Chainlink’s PayPal USD (PYUSD) stablecoin issued by Paxos under PayPal’s banner. trillion by December 2023.
Facebook's proposed global digitalcurrency Libra is expected to get pushback from G7 leaders who are anticipated to publicly oppose the project due to a lack of regulations, according to a Reuters report on Monday (Oct. The fear is that stablecoins could be used for money laundering and terrorist financing, among other crimes.
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