Tag: Stablecoin

South Korea’s KakaoBank Plans Stablecoin Services: Report

The banking arm of South Korean IT giant Kakao Corporation is reportedly ramping up plans to offer stablecoin services amid a regulatory shift in the country after the election of pro-crypto president Lee Jae-myung. KakaoBanks’ chief financial officer Kwon Tae-hoon said during the company’s first-half 2025 earnings call that the company is “reviewing various methods such as issuance and custody,” and “plans to actively participate,” in the “digital asset ecosystem,” ZDNet Korea reported on Wednesday Kwon added that the initiative is being spearheaded in cooperation with Kakao’s Stablecoin Task Force,…

South Korea’s Top Online Bank to Enter Stablecoin Market

Key Notes KakaoBank is preparing to enter South Korea’s stablecoin market. The initiative involves leaders from KakaoBank, Kakao Pay, and Kakao. The bank reported strong H1 2025 earnings, with nearly 26 million users. KakaoBank, South Korea’s largest digital-only bank, is preparing to enter the stablecoin market. As per local media outlets, the bank is exploring both the issuance and custody of digital assets, signaling a pivot to blockchain-based financial services. Backed by the broader Kakao Group’s resources and infrastructure, KakaoBank’s stablecoin ambitions could ramp up the adoption of stablecoins in…

U.S Neobank Slash Debuts Stablecoin with Stripe’s Bridge for Global Business Payments

Slash, a San Francisco-based neobank for businesses, launched a payments and treasury platform powered by a new U.S. dollar stablecoin issued by Stripe’s Bridge on Tuesday. The product, called the Global USD Account, is aimed at companies seeking U.S. dollar access and cross-border payments without a U.S. bank account. It introduces Slash’s own stablecoin, USDSL, which lets users store, send and receive dollars or stablecoins in one account, the company announced. The setup aims to shorten settlement times and remove foreign exchange fees for cross-border payments to U.S. suppliers, the…

GOP sen. touts Trump’s crypto wins: ‘He keeps pulling a rabbit out of his hat!’

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Sen. Tim Scott, R-S.C., joins ‘Mornings with Maria’ to discuss President Donald Trump’s push to make America the ‘crypto capital’ of the world as the House gets set to vote on regulation. #crypto #trump #foxbusiness #cryptocurrency #bitcoin #us #usnews Subscribe to Fox Business! Watch more Fox Business Video: Watch Fox Business Network Live: FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the…

Stablecoin Companies Harness Loopholes in the GENIUS Act to Offer ‘Rewards’

Companies like Coinbase and Paypal are taking advantage of the loopholes present in the stablecoin-focused GENIUS Act to offer “rewards” to depositors, even though it explicitly forbids issuers from distributing any form of interest or yield to holders. GENIUS Act Circumvented? Paypal, Coinbase Offering ‘Rewards’ to Stablecoin Holders Crypto companies are finding ways to circumvent […] Source CryptoX Portal

GENIUS Act Could Limit Stablecoin Appeal Amid Tokenization Boom

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The recent passage of the US GENIUS Act was widely celebrated as a major step forward for stablecoin adoption, but a key provision may curb the appeal of digital dollars compared to money market funds, raising questions about whether the bill’s authors were swayed by banking industry pressure to restrict yield-bearing stablecoins. The GENIUS Act expressly bans issuers from offering yield-bearing stablecoins, effectively preventing both retail and institutional investors from earning interest on their digital dollar holdings. Because of this, Temujin Louie, CEO of crosschain interoperability protocol Wanchain, cautioned against…

VISA, Mastercard Snub Stablecoin Threat, But Competition Is Rising

Key Notes Executives at VISA cited minimal crypto usage compared to Visa’s $15 trillion annual transaction volume. But data shows stablecoin transaction volume reached over $6 trillion in Q1 2025, nearly double Visa’s. To stay competitive, Visa has partnered with Paxos to support additional USD-backed stablecoins – USDG and PYUSD. With stablecoins getting all the attention currently with the passing of the GENIUS Act last month, VISA and Mastercard executives have denied any imminent threat from the fiat-pegged cryptocurrencies during their earnings call this week. They stated that use of…

HK Stablecoin Stocks Drop on New Rules, Experts Approve

Stablecoin companies operating in Hong Kong posted double-digit losses on Friday amid local regulatory shifts and a broader market correction. Bright Smart Securities & Commodities Group fell nearly 20% on Friday, according to Google Finance data. Yunfeng Financial Group dropped more than 16% during the trading session, while Guotai Junan International Holdings slid 11% and OSL Group declined 10.5%. These companies are referred to as “Hong Kong stablecoin-concept companies,” with share prices driven by exposure to stablecoin issuance, custody, trading, or related infrastructure. Still, some local experts view the correction…