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Digital payment token provider dtcpay has announced a strategic shift to exclusively support stablecoins for all its payment services starting in January 2025. The company emphasises the inherent volatility of cryptocurrencies like Bitcoin and Ethereum as a driving force behind this decision.
Its upcoming launch hopes to disrupt the $200billion stablecoin market and create a bridge between traditional finance and cryptocurrencies. Telcoin Bank plans to offer fully regulated, bank-issued ‘Digital Cash’ stablecoins, alongside a suite of blockchain banking products and services.
Thinking about diving into the world of cryptocurrency in Singapore? In this guide, well walk you through everything you need to know on how to buy cryptocurrency in Singapore. What is Cryptocurrency? Compared to traditional currencies, cryptocurrencies operate on decentralised networks, often powered by blockchain technology.
Yellow Card, Africa’s largest licensed stablecoin on/off-ramp fintech, will also leverage PYUSD to facilitate transactions. Yellow Card CEO Chris Maurice highlighted the transformative potential of stablecoin-based payment rails in optimising cross-border transactions.
Singapore’s cryptocurrency market has seen a notable increase in crypto payments , with merchant services receiving nearly US$1 billion in crypto during the second quarter of 2024. A key part of this growth is the rise of XSGD, the Singapore dollar-backed stablecoin issued by StraitsX. In contrast, stablecoins pegged to the U.S.
The crypto payment adoption is growing rapidly across the European Union (EU), with stablecoins being widely used as a preferred cryptocurrency among businesses. The Rise of Stablecoins in Europe With the evolving global financial landscape, European businesses are aggressively turning to cryptocurrency payments for more efficiency.
Levin added that protecting the crypto ecosystem will only become more crucial as smart contracts facilitate more value and the use of stablecoins grow. He also noted that governments are increasing the monitoring of smart contracts associated with illicit funds. Chainalysis was founded in 2014 and has raised $537 million.
The platform supports fiat currencies like the Nigerian Naira (NGN), US Dollar (USD), and Canadian Dollar (CAD), as well as cryptocurrency transactions. As the creators of Nigeria’s largest price discovery engine, Naira Rates , Juicyway facilitates remittances and provides access to FX through various payment channels.
Among plenty of emerging use cases, the technology aims to create a new and improved payments system for the world — one that’s secure, transparent, decentralized, fast, and uses cryptocurrencies (types of digital cash) as a means of exchange. But the value of most cryptocurrencies, especially bitcoin, fluctuates on a daily basis.
Since 2009, the financial landscape has been undergoing a transformation with the emergence of cryptocurrencies. As digital currencies grow in popularity , merchants around the world are exploring the potential benefits of accepting payments in cryptocurrency.
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.
BitPay Send lets firms facilitate client cashout requests, provide payroll payments, offer rebates or rewards, pay freelancers or affiliates and settle with marketplace sellers, according to the announcement. The price of the cryptocurrency was $16,301.03 Bitcoin last exceeded the $16,000 price point on Jan. as of 7:17 p.m.
As a result, the USD-denominated stablecoin is now being integrated into Ripple ‘s flagship payments solution, Ripple Payments, as the digital asset infrastructure provider looks to drive RLUSD’s utility and demand. Access liquidity for remittance and treasury operations.
In this article, Akshata Namjoshi, Kabir Kuma, and Ahlam Faouzi from KARM Legal Consultants , the emerging technologies-focused law firm, provide an in-depth analysis of the UAE’s regulatory landscape for stablecoins. Additionally, stablecoins are increasingly being explored for use in payments due to their stability and efficiency.
Along with this announcement, Juno is launching MXNB token on Arbitrum, a stablecoin pegged to the value of the Mexican peso, which is fully fiat-backed on a one-to-one basis against reserves.
Mastercard and MoonPay are partnering to launch stablecoin-powered cards, enabling users to spend crypto at over 150 million merchants worldwide. MoonPay is leveraging its acquisition of Iron to provide API infrastructure that lets businesses manage stablecoin payouts, disbursements, and cross-border transactions.
The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. Ehrlich said stablecoins, including the U.S. This in the wake of the OCC’s Sept.
Societe Generale-FORGE (SG-FORGE), a regulated subsidiary of Societe Generale, has forged a long-term partnership with Bitpanda, a European cryptocurrency broker, to promote the use of digital assets across Europe. This enables European investors to trade the stablecoin alongside other cryptocurrencies as well as traditional assets.
Australian cryptocurrency exchange Independent Reserve has forged a new partnership with RelayPay, a digital currency payments platform. This collaboration aims to facilitatecryptocurrency transactions for Independent Reserve’s business clients in Australia and New Zealand.
Cryptocurrency and BNPL : Cryptocurrency use in payments is projected to grow to $250 billion by 2030. Cryptocurrencies What It Is : Digital or virtual currencies that use cryptography for security, enabling decentralized transactions. Popular Examples : Bitcoin, Ethereum, USDC (stablecoins).
The Philippines has been uncovered to be the leading country in Southeast Asia showcasing overall interest in degen crypto and small cap cryptocurrency tokens, according to an extensive recent update from crypto resource platform CoinGecko. of global interest in smaller market capitalisation crypto on onchain DEX trackers.”
This multifaceted approach positions Next Layer Capital as a pivotal player in facilitating Bitcoin adoption. The initiative connects corporate leaders with industry experts, offering education, financial models, and execution frameworks to facilitate large-scale adoption. Coinbase Global Inc. : million as of March 2025.
The Office of the Comptroller of the Currency (OCC) released a letter that explained the authority of federal savings associations and national banks to keep “reserves” for clients who are issuers of stablecoins in some cases, according to a Monday (Sept. 21) press release. Acting Comptroller of the Currency Brian P.
Origin unveiled a stablecoin for the Ethereum network dubbed the Origin Dollar (OUSD), according to a Medium post. Origin said the digital currency is a natural addition to its aim of facilitating peer-to-peer (P2P) commerce. Tether debuted the concept of a stablecoin denominated in U.S. dollars in 2014. dollars in 2014.
Mobile wallets and in-app payments Mobile wallets facilitate in-store and online transactions without cash or physical cards. Cryptocurrency and blockchain-based payments Cryptocurrencies are digital assets that leverage blockchain technologyi.e., Accessible via digital invoices or from the merchants app.
Latin American payment service provider, Mercado Pago , now enables customers to buy and sell the Meli Dollar stablecoin through its app to all users in Brazil. The Meli Dollar stablecoin is pegged one-to-one with the US dollar and looks to ensure users have access to options less volatile than existing cryptocurrencies.
When PayPal announced recently that its 350 million users can deposit bitcoin and other cryptocurrencies in their accounts and spend it at 26 million merchants next year, it was characterized as the inevitable advance of digital currency. While few dispute the future potential viability of cryptocurrencies or stablecoins backed by the U.S.
RLUSD is an enterprise-grade, USD-denominated stablecoin created with trust, utility, and compliance at its core, backed by Ripples years of experience working with both crypto and traditional finance. RLUSD is ideal for several financial use cases, allowing enterprises to: Facilitate instant settlement of cross-border payments.
In China, the central bank will debut a state-backed cryptocurrency that initially will be issued to seven institutions in that country, Forbes reported this week. A separate source told the publication that an eighth firm, unidentified, might also be tapped to receive the cryptocurrency, which could debut in time for China’s Nov.
As innovation continues in the virtual asset space, regulatory authorities in Hong Kong have proposed new regulatory rules for stablecoin issuers. Under the proposed regime, issuers would require a license from the HKMA to issue stablecoins that reference the value of one or more fiat currencies in Hong Kong.
Platforms like Apple Pay, Google Pay, and Samsung Pay have enabled consumers to link their debit cards to their smartphones, facilitating seamless transactions both online and in physical stores. Digital cash, whether in the form of cryptocurrencies or central bank digital currencies (CBDCs) , promises to redefine the future of money.
Source: Freepik Advanced ESG analytics provide detailed insights into investment portfolios, facilitating informed decision-making that prioritises sustainability. Stablecoins Gain Traction in Singapore Stablecoins across Asia are gradually reducing their dependence on the U.S. Paxos adds further momentum to stablecoin adoption.
businesses with a compliant and efficient way to manage multi-fiat accounts, streamline cash flows, and facilitate conversions between fiat and cryptocurrency. Balances can be transferred instantly to stablecoins like USDT and USDC. This new initiative aims to provide global Web 3.0
By leveraging cryptocurrencies and smart contracts, DeFi circumvents barriers such as geographic limitations and bureaucratic hurdles, thereby empowering users to actively participate in global financial markets. Interoperability with traditional financial systems presents another significant hurdle.
Our monthly focus now turns to the most well-known form of digital assets : cryptocurrencies. This convergence is seeing cryptocurrency increasingly making its mark in the real world, with financial giants like Fidelity and BlackRock showing interest and investment in the space. But what is keeping this momentum going? .
As of this writing, and as noted by CNBC , the marquee name of cryptocurrency stands out as it touches fresh new highs of about $23,000, eclipsing the highs seen as far back as three years ago, when bitcoin approached $20,000. billion, tied to activity facilitated through a trading feature in its Cash App.
If 2020 taught us anything about cryptocurrencies, it’s that they’ve reached a tipping point. Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies. Over the summer, the U.S.
While not a stablecoin in its current distributed ledger form, the Lewes Pound was, nevertheless, similar in many aspects including being pegged to a major currency. Stablecoins have not. Will the rug be pulled from under stablecoins by incumbent instant payment schemes? At least, not yet. And why wouldnt they?
“[This partnership] marks another milestone in DIFC’s ongoing journey to help facilitate growth and equip the next generation of leaders with everything they need to succeed,” explained Arif Amiri , CEO of the DIFC Authority.
The proposed regulatory framework would create substantive obligations on issuers of fiat-referencing stablecoins to safeguard the public. The HKMA followed with its own press release announcing a future sandbox arrangement for stablecoin issuers.
Trialed Digital Tenge use cases include wholesale cross-border CBDC transactions with the Hong Kong Monetary Authority, CBDC vouchers for school meals, smart contracts designed to safeguard public funds allocated for road construction, and Digital Tenge stablecoins on the Binance cryptocurrency exchange.
On January 14, 2019, the Singapore Parliament passed its comprehensive Payment Services Act (PS Act), replacing the former Payment Systems Oversight Act and Money-Changing and Remittance Businesses Act to broaden the scope of regulated payment activities to include emerging trends and industries like digital assets and cryptocurrencies.
Yet in B2B payments, with transaction values often in the thousands or tens of thousands of dollars, the current landscape for global cryptocurrency payment services isn’t always an affordable alternative, according to Gilded Chief Operating Officer Neal Roche. The Benefits To AR. Embracing Choice.
This will help B2B, B2C and C2C marketplace and platform operators provide a more tailored user experience and better facilitate their customers’ ever-changing demands, which is essential for achieving customer satisfaction and building loyalty.” “There is, however, a competition emerging between CBDCs and stablecoins.
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