Tag: Stablecoin

Circle Warns EU Stablecoin Rules May Trigger Dual Licensing

Key Notes Current European Banking Authority guidance could force a regulatory cliff-edge in March 2026 when new payment services requirements take effect. Circle CEO Jeremy Allaire endorsed the warning, calling it a critical moment for regulatory simplicity in Europe’s stablecoin market. Patrick Hansen proposes extending the transition period to 2027 and adding targeted carve-outs in upcoming PSD3 legislation. Patrick Hansen, Circle’s Senior Director of EU Strategy and Policy, warned that unresolved conflicts between European crypto regulations could create significant compliance burdens for stablecoin service providers. Hansen posted the warning on…

IQ and Frax Launch KRWQ, First Korean Won Stablecoin on Base Network

Key Notes KRWQ represents the inaugural large-scale stablecoin denominated in Korean Won, addressing an unfilled market niche. The token leverages Frax’s infrastructure backed by BlackRock’s BUIDL fund and employs LayerZero’s OFT standard for seamless blockchain interoperability. Access to minting and redemption requires KYC verification and excludes Korean residents, targeting global DeFi applications instead. IQ and Frax announced the launch of KRWQ on Oct. 30, marking the first fiat-backed stablecoin pegged 1:1 to the South Korean Won. The token launched on Base, Coinbase’s Ethereum Layer 2 network. IQ described the launch…

BITCOIN & ALTCOINS CRASH AS MORGAN STANLEY TURNS BULLISH ON CRYPTO!

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Crypto News: Bitcoin and Stocks crash as Trump announces 100% tariffs on China. Morgan Stanley drops restrictions on which wealth clients can own crypto funds. Banks explore launching a stablecoin linked to G7 currencies. Brought to you by 🔐 Safely Store your Crypto with Trezor Hardware Wallets – 💡Get the (Re)Thinking Crypto Book on Amazon – 🖥️ Learn Crypto with Expert Commentary – Sponsors: 🌟Uphold – Signup with Uphold. Terms Apply. Cryptoassets are highly volatile. Your capital is at risk. 🏠 Propy…

Stablecoin Ratio Hits Two-Year Low, Tether & Circle Mint $7B

Key Notes Binance’s stablecoin ratio dropped to a two-year low. Tether and Circle minted $7 billion in new stablecoins. Citi projected the stablecoin market to hit $1.9 trillion by 2030. Tether USDT $1.00 24h volatility: 0.0% Market cap: $182.52 B Vol. 24h: $163.16 B and Circle USDC $1.00 24h volatility: 0.0% Market cap: $76.77 B Vol. 24h: $15.31 B collectively minted $7 billion worth of tokens as Bitcoin BTC $108 279 24h volatility: 0.4% Market cap: $2.16 T Vol. 24h: $105.39 B climbed above $108,000, as per the data provided…

Stablecoin Yields Not A ‘Detriment’ To Banks, Says Kraken CEO

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Kraken boss David Ripley has fired back against a senior executive of the American Bankers Association, who argued that stablecoins yield is a “detriment” to banks’ abilities to support their community.  ABA’s senior vice president of innovation and strategy, Brooke Ybarra, said if major crypto exchanges such as Kraken or Coinbase were allowed to pay interest on payment stablecoins, it would “fly in the face” of the idea that stablecoins should be used for payments and not as a store of value. “A detriment to who?” Ripley said. “Consumers should…

Tether’s USDT Stablecoin Reaches 500 Million Users

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US dollar-pegged stablecoin Tether hit its 500 millionth user on Tuesday, according to its CEO Paolo Ardoino, offering a means to transact and save for those who have been excluded by the traditional banking system. “Likely the biggest financial inclusion achievement in history,” Ardoino wrote in a post on X. Source: Paolo Ardoino Tether said the figure represents 500 million “real people,” not simply Tether (USDT) wallets, suggesting its stablecoin has now been used by around 6.25% of the world’s population. The World Bank Group estimates there are 1.4 billion…

Tether Reaches 500M Verified Users as Stablecoin Market Nears $316B

Key Notes Tether’s user base is 82% larger than Circle’s, though its market cap lead is only 58%, indicating smaller average holdings. USDT averages $364 per user compared to USDC’s $852, reflecting Tether’s stronger retail presence versus institutional focus. The company launched Plasma blockchain attracting $6B TVL in one week while holding $127B in US securities as of Q2 2025. On Tuesday, October 21, Tether, the issuer of the world’s largest stablecoin by market capitalization, USDT USDT $1.00 24h volatility: 0.0% Market cap: $182.05 B Vol. 24h: $144.53 B ,…

China Tech Giants Halt Hong Kong Stablecoin Plans Amid Beijing Concerns

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Chinese technology giants, including Ant Group and JD.com, have reportedly suspended plans to issue stablecoins in Hong Kong after regulators in Beijing voiced concerns over privately controlled digital currencies. The companies were instructed by the People’s Bank of China (PBoC) and the Cyberspace Administration of China (CAC) to pause these initiatives, the Financial Times reported on Sunday, citing sources familiar with the matter. “The real regulatory concern is, who has the ultimate right of coinage — the central bank or any private companies on the market?” one source familiar with…

Japan’s Top Banks Unite for Stablecoin Launch

Key Notes Japan’s top three banks will jointly issue yen- and dollar-pegged stablecoins. The move aims to create a unified structure for stablecoin transactions. Sony Bank seeks a US license to launch a dollar-backed stablecoin. Japan’s biggest banks are joining forces to bring stablecoins into the country’s financial mainstream. According to Nikkei, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group will jointly issue digital currencies pegged to the yen and eventually, the US dollar. A Unified Digital Payment System The three banking giants plan to create…

Japan’s Mega Banks to Jointly Issue Yen-Pegged Stablecoin

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Three of Japan’s largest banks are reportedly planning to jointly issue a yen-pegged stablecoin, contributing to the region’s growing adoption of crypto technology in its financial infrastructure.  Nikkei reported on Friday that Mitsubishi UFJ Financial Group (MUFG), Bank Sumitomo Mitsui Banking Corp. (SMBC) and Mizuho Bank plan to modernize corporate settlements and reduce transaction costs using a yen-based stablecoin project built on MUFG’s stablecoin issuance platform Progmat. The banks, which collectively serve more than 300,000 corporate clients, aim to standardize the token to make it interoperable for payments within and…