Tag: Stablecoin

Japan to Approve First Yen-Backed Stablecoin This Fall: Report

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Japan’s Financial Services Agency (FSA) is preparing to approve the issuance of yen-denominated stablecoins as early as this fall, marking the first time the country will allow a domestic fiat-pegged digital currency. Tokyo-based fintech firm JPYC will register as a money transfer business within the month and will lead the rollout, Japanese news outlet The Nihon Keizai Shimbun reported on Sunday. JPYC is designed to maintain a fixed value of 1 JPY = 1 yen, backed by highly liquid assets such as bank deposits and Japanese government bonds. After purchase…

Tether Taps $165B as Stablecoin Sector Climbs to $273B

Over the past week, the stablecoin market expanded by 1.28%, adding $3.464 billion to reach a total of $273.169 billion. Tether ( USDT) remains the heavyweight, commanding 60.49% of the entire market, with its supply climbing by roughly 730 million coins during the seven-day period. Tether and USDC Add to Market Dominance as Stablecoin Economy […] Source CryptoX Portal

BPI Argues That GENIUS Act Stablecoin Yield Loopholes Jeopardize the Banking Sector

The BPI explains that as crypto companies circumvent the GENIUS Act guardrails, the difference in yield between ordinary banking products and stablecoins could lead to deposits migrating to the latter, putting the credit creation system at risk of failure and potentially spreading throughout the U.S. economy. Bank Policy Institute Calls for Plugging Genius Act Stablecoin […] Source CryptoX Portal

Citigroup Weighs Stablecoin, Crypto ETF Custody amid Upbeat US Regulations

Key Notes Citi targets custody of high-quality reserves backing stablecoins following federal requirements under Trump’s GENIUS Act legislation. The bank plans real-time cross-border stablecoin transactions, building on existing tokenized dollar transfer services across major hubs. Growing $280B stablecoin market and $100B Bitcoin ETF demand create institutional opportunities beyond Coinbase’s current dominance. Citigroup is considering launching custody services for stablecoins and the digital assets backing cryptocurrency exchange-traded funds (ETFs), according to a Reuters interview with Biswarup Chatterjee, Citi’s global head of partnerships and innovation. The move would pit Citi against Coinbase,…

Transak Raises $16 Million From Tether and IDG Capital to Expand Stablecoin Payments Infrastructure

Transak, a fiat-to-crypto infrastructure provider, has raised $16 million in a strategic funding round led by Tether and IDG Capital to enhance its stablecoin payments infrastructure and expand operations into new markets. The funding round also saw participation from several investors, including Primal Capital, 1kx, and Protein Capital. With over $2 billion in processed transaction […] Source CryptoX Portal

Coinbase Revives Stablecoin Fund to Boost USDC in DeFi

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Coinbase is relaunching its Stablecoin Bootstrap Fund first introduced in 2019 to boost the liquidity of the stablecoin USDC in a range of popular and emerging decentralized finance protocols. Coinbase said on Tuesday its first placements will provide USDC (USDC) liquidity into Ethereum-based lenders Aave and Morpho, and Solana-based trading platforms Kamino and Jupiter. “As we scale the fund over time and distribute liquidity across more protocols and stablecoins, we’re particularly eager to collaborate with pre-launch teams or those seeking to drive stablecoin growth from day one,” it added. The…

Coinbase (COIN) Revives Stablecoin DeFi Fund Deploying on Aave, Morpho, Kamino, Jupiter

Crypto exchange Coinbase (COIN) said on Tuesday it is reviving its Stablecoin Bootstrap Fund, aiming to boost stablecoin liquidity on decentralized finance (DeFi) markets. The initiative will be managed by Coinbase Asset Management and begins with deployments on Aave, Morpho, Kamino and Jupiter, according to a blog post. The exchange first launched the program in 2019 to help protocols seed early trading pools for USDC stablecoin. That effort supported early platforms like Uniswap , Compound and dYdX and helped spearhead USDC in the DeFi ecosystem, which is still the most…

Trump PUMPS Crypto – $15,000 Ethereum & $1 Million Bitcoin Prediction!

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Trump PUMPS Crypto – $15,000 Ethereum & $1 Million Bitcoin Prediction! GM babe! Trump is sending the markets, and Fundstrat’s Tom Lee has been making some massive price predictions for ETH and BTC! We’ll be covering this and more on today’s stream, also make sure you subscribe and set all alerts so you never miss an update. 00:00 HI 02:30 Trump pumps crypto 08:36 BTC prediction 12:21 Bitcoin and altcoin market overview 17:02 Stablecoins (XRP and ETH) 20:01 Bitcoin news 20:59 More…

Stablecoin Laws Lack Unity, Affecting Adoption

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Stablecoins have been regulated in different ways across the globe, raising concerns about their viability and possibly putting up barriers for newcomers.  Europe’s framework, Markets in Crypto-Assets (MiCA), varies significantly from the US’s GENIUS Act. Both are distinct from Hong Kong’s own stablecoin rules, which were finalized just two weeks ago. These three regulatory frameworks have provided clear standards for stablecoins. Reserve requirements, issuer licensing and permit schemes now have cut-and-dry conditions, which have undoubtedly made it easier for stablecoins to flourish. But their differences are distinct enough to cause…

GENIUS Act Stablecoin Ban May Fuel Tokenization Market Growth

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The landmark US GENIUS Act could serve as a major catalyst for stablecoin adoption both domestically and abroad. But rather than simply boosting demand for dollar-backed digital currencies, it may unintentionally push capital into the tokenization market as investors seek yield on their holdings. That was one of the key takeaways from a recent interview with Will Beeson, a former Standard Chartered executive and now founder and CEO of Uniform Labs, a developer of institutional liquidity solutions for tokenized financial markets. A central provision of the GENIUS Act is its…