Tag: Stablecoin

New Zealand Rules NZDD Stablecoin Not a Financial Product

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New Zealand’s financial regulator has ruled that a local currency-tied stablecoin, NZDD, isn’t a financial product, a move a local law firm says is an important step toward regulatory clarity. The Financial Markets Authority (FMA) said on Wednesday that the new designation for the stablecoin pegged to the New Zealand dollar resulted directly from a financial technology sandbox pilot the regulator is running. “The economic substance of the NZDD stablecoin is that it is not a debt security, as the NZDD stablecoin is not an investment, and no income, interest…

Stablecoin Yields will Bring Fresh Money to US Banks: Patrick Witt

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Stablecoin yield providers will inject more capital into the US banking system, argues White House Council of Advisors for Digital Assets executive director Patrick Witt, amid debate over whether stablecoin yields will draw deposits away.  “Foreigners exchange local currency for stablecoins from a US-based issuer,” Witt said in an X post on Wednesday, adding that “global demand for USD is massive.” “That is net new capital entering the American banking system,” Witt said. Most US stablecoin issuers hold US dollars or US Treasuries to back each token issued. Banking and…

BNB Chain Dominates 40% Of Global Stablecoin Transactions

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While large institutional flows dominate total stablecoin volume, small-value transfers make up most stablecoin transactions on BNB Chain, which has eclipsed other blockchains by transaction count and has become one of the leaders in the sector. Related Reading BNB Chain Tops Global Stablecoin Transactions By Count As stablecoin activity continues to grow, BNB Chain has emerged as one of the leading networks in the sector, positioning itself ahead of competitors like Ethereum, Tron, and Solana in transaction share, especially for smaller-value transfers predominant in emerging markets and retail use. Recent…

Societe Generale-FORGE Deploys MiCA-Compliant EURCV Stablecoin on Stellar

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Societe Generale-FORGE, the crypto arm of French banking company Societe Generale, has deployed its euro-denominated stablecoin on the Stellar blockchain, completing a multichain expansion first announced in 2025. The stablecoin, known as EUR CoinVertible (EURCV), is designed to comply with the European Union’s Markets in Crypto-Assets (MiCA) framework and represents a tokenized euro issued by the company for use in digital asset markets. According to the company, the Stellar deployment is intended to broaden the stablecoin’s use across blockchain-based financial applications and tokenized asset services. SG-FORGE said Stellar offers high…

Aon Tests Stablecoin Payments for Insurance Premiums

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Aon, one of the world’s largest insurance brokers, is testing the use of stablecoins to pay insurance premiums, highlighting the growing role of digital dollars in traditional financial infrastructure following the passage of the GENIUS bill last year.  In a Monday announcement, UK-based Aon said it completed a pilot that settled insurance premiums for clients, including Coinbase and Paxos, using USDC (USDC) on Ethereum and PayPal USD (PYUSD) on Solana. Tim Fletcher, CEO of Aon’s financial services division, said the pilot reflects the company’s effort to explore stablecoins as a…

Kast Stablecoin Firm Hits $600M Valuation after $80M Raise: Report

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Stablecoin payments company Kast has raised $80 million in a new funding round that valued the company at $600 million, Bloomberg reported Monday, citing people familiar with the matter. The round was co-led by QED investors and Left Lane Capital, and Kast expects an annual revenue run rate of around $100 million in 2025, according to Bloomberg. The company reportedly plans to use the funding to expand across North America, Latin America and the Middle East, while also adding staff, securing licenses and developing new products. The raise is the…

Stablecoin Market Breaks Records — USDC Controls 70% Of $1.8 Trillion Volume

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Billions of dollars in fresh USDC were printed in just the first week of March — a minting pace that, if sustained, could push Circle’s total for the month past $12 billion. Related Reading That surge is one sign of the momentum behind a broader milestone: total stablecoin transfer volume hit $1.8 trillion in February, the highest monthly figure on record. USDC Pulls Far Ahead Of Tether USDC, issued by Circle Internet Group, accounted for roughly 70% of all stablecoin transfers last month — about $1.26 trillion. Tether’s USDT logged…

Stablecoin Transaction Volume Hits a New Record High as USDC Surpasses USDT

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Stablecoins have hit an all-time high in monthly transaction volume, as Circle’s USDC (USDC) flipped Tether’s USDt (USDT), new data shows. Key takeaways: Stablecoin monthly transaction volume reached a record $1.8 trillion in February. USDC comprised 70% of all stablecoin volume. Rising stablecoin supply on exchanges puts crypto markets in a good position to recover. USDC “consistently” flips USDt transfer volume The stablecoin transfer volume reached $1.8 trillion in February, setting a monthly record, according to data from Allium. Stablecoins are cryptocurrencies designed to maintain a stable value, typically pegged…

Florida Senate Approves First Stablecoin Bill, Awaits DeSantis’ Signature

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Florida lawmakers have approved a state-level framework regulating payment stablecoins, moving the legislation to Governor Ron DeSantis’ desk for final approval. In a Friday post on X, Samuel Armes, founder of the Florida Blockchain Business Association, revealed that Senate Bill 314 has cleared the Florida Senate unanimously. The measure is set to become law once signed by DeSantis, which Armes expects within the next month. “It has now passed the Senate and the House, and will be signed by DeSantis within the next 30 days!” he wrote on X. Florida…

Trump Son Echoes President’s Anti-Bank Message amid Stablecoin Yield Fight

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The post from Eric Trump, tagging his crypto company, came hours after his father claimed banks were holding a market structure bill “hostage.” Eric Trump, son of US President Donald Trump and one of the co-founders of the family-backed crypto business World Liberty Financial, has jumped on the anti-bank messaging that many in the industry are espousing amid disagreements over how to handle stablecoin rewards. In a Wednesday X post, Eric Trump echoed his father, claiming that banks were “desperately targeting” cryptocurrencies and stablecoins as discussions lag on the market…