Tag: Stablecoin

Wyoming Shortlists Aptos, Sei for WYST Stablecoin Pilot

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The Wyoming Stable Token Commission has shortlisted Aptos and Sei for its stablecoin pilot program, giving Aptos the highest score among the more than 10 blockchains considered for its forthcoming WYST project. Aptos disclosed Friday that it received the highest marks based on the commission’s network testing, scoring 32 points. Solana received an identical score of 32 points, though it was not selected for the pilot phase. Source: Aptos Sei, meanwhile, scored 30 points, ahead of Avalanche (27), Ethereum (26), Base (25) and Algorand (21), among others. The network tests…

South Korea Central Bank Won’t Oppose Stablecoin: Report

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The head of South Korea’s central bank has reportedly said he is not against the country issuing a won-based stablecoin, but is still concerned about managing the foreign exchange of the token. Reuters reported on Wednesday that Bank of Korea Governor Rhee Chang-yong said at a press conference that “issuing won-based stablecoin could make it easier to exchange them with dollar stablecoin rather than working to reduce use of dollar stablecoin.” That in turn could increase demand for dollar stablecoin and make it difficult for us to manage forex,” he…

Polymarket Gives US Stablecoin Bill 89% Chance Of Becoming Law

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Cryptocurrency users are betting on the odds that US legislation to regulate payment stablecoins will move forward, following a crucial vote in the Senate and a public push from President Donald Trump to “get it to [his] desk.”  As of Thursday, the online betting platform Polymarket shows an 89% chance of the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, passing the US Senate and House of Representatives and being signed into law by the president before 2026. The Polymarket bet seemed to have been launched roughly…

Visa Partners With Yellow Card to Roll Out Stablecoin Payments in Africa

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Credit card giant Visa has partnered with Yellow Card Financial, an African stablecoin payments provider, to accelerate the adoption of digital dollars across the continent, underscoring the growing synergy between traditional payment networks and cryptocurrency solutions. The two companies have signed an agreement to promote stablecoin use for cross-border payments in emerging markets where Yellow Card operates, Bloomberg reported Thursday. Yellow Card will launch stablecoin transactions with Visa in at least one African country this year, with additional rollouts expected in 2026. Chris Maurice, co-founder and CEO of Yellow Card,…

Circle Gains 34% After Stablecoin Bill Passes—What It Means for Crypto?

Key Notes The GENIUS Act passed the Senate 68–30, providing a federal framework for stablecoins. Circle stock jumped nearly 34% on June 18, closing at a record high. USDC adoption may accelerate as banks and fintechs gain regulatory clarity. Circle stock moved sharply higher on June 18 after the US Senate approved the GENIUS Act, a new bill providing regulatory clarity for stablecoins. The vote passed 68–30, marking a major policy development that immediately reflected in market prices. Circle stock price dynamics | Source: TradingView Shares of Circle jumped nearly…

Donald Trump Backs GENIUS Stablecoin Bill, Crypto Stocks Rally

Key Notes The stablecoin bill is seen as a pivotal step for the US crypto industry, with Treasury Secretary Scott Bessent emphasizing its potential to bolster dollar supremacy. Shares of Coinbase and Circle surged 16% and 33%, respectively, on June 18, reflecting optimism about the GENIUS Act. The GENIUS Act proposes a regulatory framework for dollar-pegged stablecoins, including 1:1 reserve backing, federal or state licensing, etc. . US President Donald Trump urged the House to pass the GENIUS Stablecoin Act as soon as possible so that he can sign it…

China E-Commerce Giant JD Mulling Stablecoin Licenses

Key Notes Richard Liu, JD.com founder, says the company plans to apply for stablecoin licences across the globe. He believes this move could help reduce cross-border payment costs by 90% and speed up transactions. The move aligns with the recent advancement of stablecoin regulation in the US. Richard Liu, the founder of China-based e-commerce platform JD.com, has announced the company’s plan to apply for stablecoin licences worldwide. He stated that the focus is on major sovereign currency countries and international markets. JD Eyes Stablecoin For Reduced Cross-border Payment Costs and…

JD.com Enters Stablecoin Race Amid US GENIUS Act Push

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Chinese e-commerce giant JD.com is stepping into the stablecoin arena, with founder Liu Qiangdong revealing plans for a global licensing push aimed at cross-border payments. The announcement, made during a media briefing in Beijing on Tuesday, came as the US Senate passed the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, a landmark bill establishing federal guardrails for stablecoins. “We hope to apply for our stablecoin license in all major sovereign currency countries in the world,” Liu said. He outlined that the stablecoin would be used to…

US Senate Votes To Pass GENIUS Stablecoin Bill

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The Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, is one step closer to becoming law in the US after the US Senate voted to pass an amended version of the bill. In a Tuesday vote of 68-30, a majority of the US Senate chose to pass the GENIUS Act roughly six weeks after Tennessee Senator Bill Hagerty introduced the legislation. The bill’s companion, the STABLE Act, may be considered in the House of Representatives next, where it could face additional proposals for amendments. “With this bill,…

Chainlink Eyes Role in U.S. Stablecoin Expansion

Key Notes Chainlink offers a one-stop unified solution combining proof-of-reserves, cross-chain connectivity, and on-chain compliance. Through its CRE, users can seamlessly manage these features, addressing the growing complexity of blockchain transactions. The GENIUS Stablecoin Act is expected to pass the Senate today following a decisive cloture vote last week. The US stablecoin market is undergoing a major transition as the GENIUS Act is likely to get approval soon. Chainlink CEO Sergey Nazarov stated that his blockchain platform is all set to cater to the demands for proof-of-reserves and cross-chain connectivity.…