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Coinbase, the global cryptocurrency platform, plans to introduce stablecoins pegged to the Thai baht and Philippine peso as part of its focus on Southeast Asia, according to a report by Nikkei Asia. Pollak emphasized that stablecoins aim to modernize legacy financial systems rather than replace national currencies.
Rubie Wallet enables attendees to convert regulated US dollar-pegged stablecoins into THBX, a Thai Baht stablecoin. This system allows for direct payments at approximately 100 participating merchants, further streamlining the payment process and promoting the adoption of digital currencies within Thailand.
Global payments network Thunes has announced a collaboration with Circle , the issuer of regulated stablecoins USDC and EURC. This partnership aims to enhance stablecoin liquidity management in cross-border payments. By utilising USDC, Thunes aims to reduce capital costs and improve liquidity for its network participants.
Circle Internet Group announced the launch of its Circle Payments Network (CPN), a new system designed to connect financial institutions for cross-border payments using regulated stablecoins. The post Circle Launches Stablecoin Payments Network for Cross-Border Settlements appeared first on Fintech Singapore.
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.
The new system uses Purpose Bound Money (PBM), which specifies the conditions for using stablecoins, and the Avalanche blockchain. Payments will be settled instantly in Singapore dollars via a regulated stablecoin, providing merchants with immediate local currency settlements. Ant International, which operates Alipay+, connects over 1.6
KAST, a fintech platform focused on stablecoins, has raised US$10 million in a seed funding round led by HSG (HongShan Capital Group) and Peak XV Partners. The round also saw participation from angel investors and partners of DST Global and Goodwater Capital. Stablecoins are the clear solution, but the user experience wasnt great.
Mesta , a fintech platform reshaping global payment networks with hybrid fiat and stablecoin payment rails, unveiled its cross-border payment platform. It combines real-time fiat payment rails with blockchain-powered stablecoin rails, addressing inefficiencies in global payments and trade.
Fiserv is leveraging Paxos, Circle, and Solana to launch FIUSD , a new stablecoin integrated into its global banking and payments infrastructure. Fiserv is positioning FIUSD as a “bank-friendly coin,” making it possible for banks to participate and compete in the tokenized financial ecosystem.
The new Apple Pay integration leverages Mesh’s proprietary SmartFunding technology, which allows users to pay with the crypto of their choice, such as BTC, ETH, or SOL, while merchants settle in the stablecoin of their choice, such as USDC, USDT, PYUSD, and others.
Anchorage Digital has entered into a definitive agreement to acquire Mountain Protocol, the Bermuda-based issuer of the USDM stablecoin. The move comes as Anchorage Digital looks to expand its stablecoin offering amid growing institutional demand and evolving U.S. The companys USDM stablecoin is fully backed by U.S.
The Hong Kong Monetary Authority (HKMA) has revealed the participants for its stablecoin issuer sandbox, which will be able to test plans to issue a stablecoin in Hong Kong. HKMA expects all sandbox participants to comply with the sandbox requirements.
Singapore-based stablecoin infrastructure provider StraitsX has unveiled a refreshed brand identity as it expands its role in enabling compliant, real-time payment settlements. Its stablecoins, XSGD and XUSD, are among the first to be recognised under MAS forthcoming Single-Currency Stablecoin framework.
based stablecoin infrastructure provider BVNK secured a $50 million Series B round, boosting its valuation to $750 million. The round was led by Haun Ventures with participation from Coinbase Ventures and Tiger Global. Stablecoins have exceptional potential for cross-border payments and remittances. The investment is the U.K.-based
The company will use the funds to scale its “yield-as-a-service” stablecoin infrastructure platform. Stablecoin infrastructure-as-a-service platform OpenTrade received $7 million in a Seed round this week. Existing investors AlbionVC, a16z crypto, and CMCC Global also participated. Photo by anna-m.
Stablecoins: Visa has been facilitating cryptocurrency transactions for over five years and is now expanding its offering to include stablecoin-backed cards, settlement, and programmable money. In Asia Pacific, Visa is working with StraitsX for stablecoin settlement.
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.
INXY Payments , an EU-authorized payment platform bridging together traditional finance and the crypto economy, has successfully closed a $3 million investment round led by Flashpoint VC with participation from prominent angel investors. Were excited to expand our global presence and continue driving innovation in the crypto economy.
Stablecoins can settle in seconds, smart contracts can execute “if-this-then-that” logic without humans in the loop and tokenised assets can move 24/7 across jurisdictions. Could stablecoins be the new fuel behind an AI-driven economy? reshaping the economic landscape around us: AI and stablecoins.”
Session 4: IPA Compliance Boot Cam As stablecoins gain traction in the payments ecosystem, they sit squarely at the crossroads of innovation and regulation. regulatory landscape for stablecoins. Meanwhile, state regulators are asserting their authority, creating a patchwork of compliance expectations.
OpenTrade, a provider of yield-bearing stablecoin products for fintechs, has raised $7 million in funding led by Notion Capital and Mercury Fund, with participation from existing investors AlbionVC, a16z crypto, and CMCC Global.
Juicyway addresses this need by leveraging stablecoin technology to enable fast, affordable global money transfers with 24/7 execution and settlement. Stablecoin technology and our network model make this vision achievable by enabling fast and efficient money movement.
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 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.
PayPal USD (PYUSD), PayPal ‘s USD stablecoin, will now be available on the Solana blockchain. “Continued adoption from industry participants like PayPal helps realise the next generation of fintech innovation.” The news was announced at Consensus 2024 , the long-running cryptocurrency, blockchain and web3 event.
Payments giant Visa unveiled a number of AI-enabled advancements at its Global Product Drop, alongside expanded stablecoin partnerships, as it looks to position itself as a key enabler of the AI-driven future of digital commerce. Visa also announced new stablecoin partnerships to reach more people and geographies.
Credit rating agency S&P Global Ratings has unveiled its new stablecoin stability assessment service, designed to evaluate their capability in maintaining a stable value in comparison to traditional fiat currencies. In its first series of assessments, the firm evaluated eight prominent stablecoins.
PayPal’s stablecoin, PayPal USD (PYUSD), was officially added to the Solana Blockchain last week. Now, PayPal stablecoin users can send PYUSD on Ethereum or Solana when transferring out to external wallets. Competition : The race to stablecoin dominance has quieted among most traditional financial services providers in the U.S.,
Most of these centre on how firms handle digital assets, particularly stablecoins, as well as the operational and legal adjustment needed to navigate the changing landscape. Stablecoins, as a subset of digital assets, have been a focal point of both the Bill and the FCAs regulatory discussions.
The age of digital currencies 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.
Rain , a global card issuing platform built for stablecoins, is helping usher in a new era of onchain finance through its work with Visa. Rain announced it has joined Visa’s pilot program for stablecoin settlement. Rain is programmatically leveraging stablecoins enabling network settlement 7 days a week, 365 days a year.
Amid rising fraud, emerging technologies like embedded finance, AI, and stablecoins, and intensifying global competition, the Financial Conduct Authority (FCA) faces mounting pressure to recalibrate its approach to regulationor risk holding back the very sector it aims to protect.
Conduit , a leading cross-border payments platform powered by stablecoins, announced today it closed a $36 million Series A funding round. Conduit’s platform seamlessly bridges the gap between traditional banking and stablecoin technology, offering unparalleled speed, affordability, transparency and reliability.”
As the first tokenized RWA integrated into the MTN, Ondo’s Short-Term US Government Treasuries Fund (OUSG) will allow participating businesses to earn daily yield via tokenized assets with 24/7 subscriptions and redemptions, without the need for stablecoins onramps or settlement windows.
Circle is the issuer of the USDC stablecoin and operates within the broader digital asset ecosystem. Morgan, Citigroup, and Goldman Sachs are joint lead bookrunners for the IPO, with participation from other financial institutions.
As a Project Guardian participant, Ant International also leveraged its blockchain-based Whale platform to develop a global treasury management use case for real-time multi-currency clearing and settlement.
Participants tackled five central themes: underleveraged innovation, the operationalisation of AI, regulatory challenges, the evolution of embedded finance, and strategic risk planning for 2025 and beyond. Among these, the integration of blockchain and stablecoins in cross-border payments and treasury management emerged as a central theme.
RT2 is substantially expanding direct participation. A critical limitation of the previous RTGS was its technical ceiling on participant numbers. This proportional approach makes direct participation viable for a broader range of organisations. Expanded access fundamentally changes competitive dynamics.
Will Marwick CEO, IFX Payments The Payments Report 2024 highlights the growing impact of digital currencies, particularly stablecoins, as transformative payment solutions. The report notes how stablecoins, supported by regulatory developments, are driving advancements in digital commerce and cross-border transactions.
The participants also examined the role of collaboration in overcoming shared challenges, all while adapting to changing consumer expectations. Participants Emerging trends in merchant payments: The next 12 months The roundtable began with an exploration of emerging payment trends set to shape the industry.
Dapper Labs will be partnering with peer-to-peer firm Circle to help add payment methods for digital collectibles using credit and debit card payments to settle in the stablecoin USD Coin (USDC), according to a blog post from Circle. Up to now, paying for digital collectibles on blockchain relied on cryptocurrency payments.
Stablecoin issuer and infrastructure company Circle unveiled this week that the Circle Payments Network (CPN) mainnet is now live. With CPN, Circle is hoping to disrupt the $190 trillion cross-border market and bring stablecoins mainstream for cross-border payments. “We are just getting started.
The enforcement of MiCA provides clear guidelines for the issuance and management of stablecoins, reducing legal uncertainties and fostering confidence among market participants. In response to MiCA’s requirements, several crypto exchanges and service providers adjusted their offerings.
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