Tag: Stablecoin

Nigerian Regulator Welcome Stablecoin Startups

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Nigeria’s Securities and Exchange Commission (SEC) Director-General Emomotimi Agama said the country was open to stablecoin businesses that comply with local regulations. According to a Thursday report by English-language local news outlet, The Cable, Agama said stablecoin companies that complied with local regulations were welcome in Nigeria. “Nigeria is open for stablecoin business, but on terms that protect our markets and empower Nigerians,” he said. “We have onboarded some firms focused on stablecoin applications, all while ensuring compliance with core risk management principles,” Agama said, adding that those companies were…

OSL Raises $300M to Fuel Crypto Growth, Stablecoin Push

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Digital asset platform OSL Group has secured $300 million in equity financing, marking the largest publicly disclosed equity raise in Asia’s crypto sector to date. On Friday, the company announced that it will deploy the funds in three growth areas: acquisitions, global business initiatives like payments and stablecoin infrastructure and boosting its working capital. The raise is part of OSL’s broader strategy to expand its international presence. OSL described the raise as a “milestone” for the company that signals market recognition of its long-term trajectory and crypto business model. “This…

Crypto Exchange OSL Group Raises $300M Ahead of Hong Kong’s Stablecoin Regulation Plan

Hong Kong-based cryptocurrency exchange OSL Group has raised $300 million in an equity sale. OSL, which was the first exchange to win a license from the Hong Kong Monetary Authority (HKMA), said it will use the new capital to develop new business initiatives, such as building payment and stablecoin services. Hong Kong will start allowing stablecoin issuance under a new regulatory regime taking effect at the start of August. It is in the process of unveiling a range of policies for the regulation…

Stablecoin market surges post-genius act as banks and asset managers enter

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The ink on the GENIUS Act is barely dry, but its ripple effects are already visible across the crypto industry. In just seven days, the sector added nearly $4 billion, pushing the stablecoin market cap above $264 billion and fueling corporate interest in related ventures. The surge is no surprise. The landmark legislation provides banks, asset managers, and other institutional investors with a federal framework for fiat-backed stablecoins without the looming threat of enforcement actions by the Securities and Exchange Commission (SEC). With regulatory clarity comes new capital, new players,…

Hong Kong hoses down stablecoin frenzy, Pokemon on Solana: Asia Express

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Tokenized Pokémon card market gains momentum on Solana The tokenization of physical collectibles is quietly gaining momentum, with Pokémon cards based on the globally popular Japanese gaming and anime franchise emerging as a standout use case. On Solana, a new wave of platforms is turning real-world assets (RWAs) like Pokémon cards into non-fungible tokens (NFTs). One of the leading platforms in this niche is Collector Crypt, which has processed nearly $95 million in total volume in under a year, according to a Dune Analytics dashboard by X user zKayAPE. The…

Anchorage Digital, Ethena Labs Announce GENIUS-Compliant Stablecoin: ENA Surges 20%

Key Notes Historic partnership introduces first federally compliant stablecoin for institutional settlement and cross-border payments. ENA governance token jumped 20% before stabilizing at 5-7% gains with $1.04 billion in trading volume surge. GENIUS Act regulatory framework attracts major banks like PNC and JPMorgan to explore crypto lending opportunities. Anchorage Digital, the first federally chartered crypto bank in the United States, has announced a partnership with Ethena Labs to launch the first stablecoin compliant with the new GENIUS Act. The partnership will bring Ethena’s USDtb stablecoin to the US market under…

Anchorage Digital Launches Stablecoin Service Following GENIUS Bill

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Anchorage Digital, an institutionally-focused digital asset service provider, announced the launch of a stablecoin issuance platform on Thursday, tapping synthetic dollar and stablecoin issuer Ethena as its first partner client. The company will launch Ethena’s USDtb stablecoin in the United States, according to an announcement made on Thursday. Currently, USDtb is issued offshore.  Issuing USDtb in the US will make the stablecoin fully compliant under the GENIUS stablecoin regulation, signed into law by US President Donald Trump in July.  Trump signs the GENIUS stablecoin bill. Source: The White House Teresa…

Crypto Prediction Market Polymarket Weighs Launching Its Own Stablecoin: Source

Polymarket, the cryptocurrency-powered prediction market that recently attained a billion dollar valuation, is deciding whether to introduce its own customized stablecoin, or accept a revenue sharing deal with Circle based on the amount of USDC held on the platform, according to a person familiar with the plans. Polymarket’s motivation to create its own stablecoin is simply to own the yield-generating reserves that back the large amount of Circle’s USDC dollar-pegged token used to make bets on the popular betting platform, the person said. A Polymarket representative said no decision has…

Wester Union Looks to Offer Stablecoin Services, CEO Says

Western Union is exploring ways to integrate stablecoins into its services as the firm seeks to modernize cross-border payments. During a Monday interview with Bloomberg, Western Union CEO Devin McGranahan said that the firm views stablecoins as an opportunity. He also said the company is exploring partnerships with major crypto industry players to offer stablecoin on-ramp and off-ramp services, as well as a digital wallet. “We see stablecoin really as an opportunity, not as a threat. […] We’re 175 years old, and we’ve been innovative across [those] 175 years. And…

GENIUS Act Poised to Reshape Global Stablecoin Landscape, Experts Say

Experts believe the recently passed GENIUS Act in the U.S. will significantly influence global stablecoin regulation, establishing compliance standards that non-U.S. issuers must meet to access U.S. financial systems. GENIUS Act Sets Global Stablecoin Precedent Experts suggest that the GENIUS Act, while a U.S. law, is poised to set a significant global precedent for stablecoin […] Source CryptoX Portal