The budget introduces a massive deficit and still requires a vote of confidence from Parliament; otherwise, another federal election will be triggered. Canada’s New Budget Channels Resources into Developing Stablecoin Governance It’s hard to believe, but for much of 2025, Canada operated without a budget after its new Prime Minister, Mark Carney, narrowly won a […] Source CryptoX Portal
Japan’s financial regulator, the Financial Services Agency (FSA), endorsed a project by the country’s largest financial institutions to jointly issue yen-backed stablecoins. In a Friday statement, the FSA announced the launch of its “Payment Innovation Project” as a response to progress in “the use of blockchain technology to enhance payments.” The initiative involves Mizuho Bank, Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, Mitsubishi Corporation and its financial arm and Progmat, MUFG’s stablecoin issuance platform. The announcement follows recent reports that those companies plan to modernize corporate settlements and reduce transaction…
Amid this week’s crypto market correction, Ark Invest’s CEO and CIO, Catie Wood, has slashed her 2030 bullish forecast for Bitcoin (BTC), highlighting the global momentum of the stablecoin sector. Related Reading Stablecoins Overtake Part Of BTC’s Role On Thursday, Ark Invest’s CEO, Cathie Wood, joined CNBC’s “Squawk Box” to discuss Bitcoin’s price, her thoughts on stablecoins’ growth, and how her previous bullish forecast for the flagship crypto has evolved over the past year. In the interview, Wood underscored that the rapid rise of stablecoins is taking on a role…
OKX rolls out OKX Pay and OKX Card in Brazil to offer USD stablecoin access, up to 10% APY, and no IOF tax on international spending. OKX announces in São Paulo the launch of OKX Pay and OKX Card in Brazil, enabling instant PIX‑linked conversion of reais to USD‑denominated stablecoins, domestic and cross‑border stablecoin transfers, […] Source CryptoX Portal
Elixir said it will sunset its deUSD stablecoin after $75 million worth of the token became entangled in Stream Finance’s $93 million loss. Decentralized finance liquidity provider Elixir has pulled support for its synthetic stablecoin, deUSD, due to knock-on effects from Stream Finance’s $93 million loss earlier this week. Elixir said in an X post on Thursday that it has already successfully processed redemptions of 80% of all deUSD holders, which has triggered the stablecoin to depeg from the US dollar to 1.5 cents, CoinGecko data shows. Stream halted withdrawals…
On Thursday, another stablecoin, this one dubbed ‘USDX’ from Stable Labs, took a nosedive off its $1 peg, skidding all the way down to $0.3736. The meltdown, some say, traces back to the Balancer exploit that left more than $100 million vanishing into the ether. USDX Springs a Leak After the Stream Finance debacle—where its […] Source CryptoX Portal
Key Notes Wood’s revised projection still anticipates 1,100% growth for Bitcoin over the next five years despite the reduction. Stablecoin market capitalization has reached $306 billion, outpacing Bitcoin’s growth by 2.14 times since 2020. Major tech companies including Google and Cloudflare have launched stablecoin-integrated platforms for payments and AI transactions. Cathie Wood, CEO of Ark Invest, has reduced her bullish price forecast on Bitcoin BTC $101 638 24h volatility: 2.5% Market cap: $2.03 T Vol. 24h: $62.01 B from $1.5 million to $1.2 million per coin. The five-year price prediction…
This content is provided by a sponsor. PRESS RELEASE. Concordium and Bitcoin.com have joined forces to bring age-verified, identity-anchored payments to millions of users globally. Concordium’s identity-first blockchain and native stablecoins will become accessible to Bitcoin.com’s multichain ecosystem, which includes top networks like Ethereum, Polygon, and BNB Smart Chain. The integration, which is currently in […] Original
While Coinbase insists that the US Treasury cannot override Congress’s intent on the GENIUS Act, banks continue to press for a blanket ban on stablecoin interest. The US Department of the Treasury is facing conflicting feedback from crypto companies and traditional banking groups over how to implement the GENIUS Act, the law that regulates stablecoin payments in the US. In a letter on Tuesday, Coinbase urged the Treasury to limit the ban on stablecoin interest payments exclusively to stablecoin issuers, while allowing it for non-issuers, such as crypto exchanges. Coinbase…
The UK’s top bank says it will roll out stablecoin rules “just as quickly as the US” amid concerns that it’s lagging behind global allies. Bank of England Deputy Governor Sarah Breeden expects the government to keep pace with the US in stablecoin regulation, stating that it is “really important” for the allies to be synchronized on rules governing the $310 billion industry. Speaking at the SALT conference in London on Wednesday, Breeden reportedly said the UK will implement a stablecoin regulatory framework “just as quickly as the US” —…