Tag: Stablecoin

US Senators Question Meta’s Stablecoin Plans Before GENIUS Act Vote

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With the US Senate expected to vote on legislation to regulate payment stablecoins soon, two senators called on Meta CEO Mark Zuckerberg to answer questions about the company’s potential plans to introduce another stablecoin. In a Wednesday letter to Zuckerberg, Senators Elizabeth Warren and Richard Blumenthal said it was “more critical than ever that Congress and the public fully understand the extent of Meta’s plans” for stablecoins, given the size of the tech company and the expected vote on the GENIUS Act in the Senate. The two lawmakers asked the…

UK FCA Creates New Deputy Chief Executive Role to Oversee Regulation of Stablecoin and Crypto Firms

The UK Financial Conduct Authority (FCA) has appointed Sarah Pritchard as its new Deputy Chief Executive, a role created to reflect the organization’s expanding responsibilities, including the integration of the Payment Systems Regulator and the regulation of stablecoin and crypto firms. Since joining the FCA in June 2021, Pritchard has led the supervision, policy, and […] Source CryptoX Portal

OpenTrade Raises $7M to Expand Stablecoin Yield Access in Inflation-Hit Markets

OpenTrade has raised $7 million in a strategic round led by Notion Capital and Mercury Fund, with backing from a16z crypto, AlbionVC, and CMCC Global. The latest funding brings the London-based company’s total haul to $11 million in just six months, a signal of investor confidence in the startup’s push to bring yield-bearing stablecoins to users in unstable economies. The company runs a “yield-as-a-service” platform designed for fintech apps, exchanges, and neobanks. Clients like Criptan in Spain and Littio in Colombia use OpenTrade’s backend to let users earn interest —…

Ethereum + Uniswap vs Congress!🔥U.S. Hearing on Crypto

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Yesterday, the House Committee on Financial Services, led by Chairman French Hill (AR-02), held a hearing examining digital asset market structure legislation, H.R. 3633, the CLARITY Act of 2025. ~This episode is sponsored by Tangem~ Tangem ➜ Use Code: “PBN” for Additional Discounts! 00:00 Intro 00:14 Sponsor: Tangem 00:43 Clarity Act U.S. Hearing 01:12 Ethereum + Uniswap Intro 02:19 Democrats Didn’t Read Bill 04:26 Lazy or Ignorant? 04:46 What’s in Clarity ACT? 05:12 Gary Gensler 2.0: Give Banks Power Again? 06:20 Decentralization…

Stablecoin Interest Among Fortune 500 Executives Up Threefold

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Interest in using stablecoins has tripled year-over-year from 2024 among company executives at Fortune 500 companies, according to a report by crypto exchange Coinbase. Nearly 29% of 100 executives surveyed from the largest 500 US companies by revenue said their company has plans for, or is interested in stablecoins, compared to just 8% who said the same in 2024, representing a more than threefold increase year on year, Coinbase said in its State of Crypto report released Tuesday. Key reasons for the interest in stablecoins were slow transaction speed and…

SG Issues USD Stablecoin on Ethereum and Solana

Key Notes This follows the successful launch of its euro-pegged EUR CoinVertible (EURCV) on the Stellar network in April 2023. Societe Generale is capitalizing on the growth of the overall stablecoin market which is nearing an all-time high of $250 billion. US legislative efforts, such as the Senate’s bipartisan stablecoin bill, aim to establish clear regulations, encouraging institutional adoption. . On Tuesday, June 10, French financial services giant Societe Generale announced the launch of its USD-pegged stablecoin through its crypto subsidiary Societe Generale-FORGE. Interestingly, the firm has chosen blockchain platforms…

South Korea Proposes Stablecoin Licensing in New Crypto Bill

Key Notes Min Byeong-deok from the South Korean Democratic Party has unveiled a new bill to establish a further crypto regulatory framework. The new bill aligns with the Virtual Asset Investor Protection Act, the existing crypto rule in South Korea. Stablecoin traction is growing globally, especially with the push for the GENIUS and STABLE Acts. South Korea has taken new steps to boost its crypto regulation with a new stablecoin bill. On Tuesday, Min Seok, a lawmaker from the Democratic Party in the region, unveiled the bill, which includes a…

SocGen’s SG-Forge Unit Unveils USD Stablecoin (USDCV) on Ethereum, Solana Blockchains

SG Forge, the cryptocurrency division of French bank Société Générale, plans to introduce a dollar-backed stablecoin on the Ethereum and Solana blockchains, the bank said on Tuesday. The USD CoinVertible (USDCV) will start trading in early July and involves Bank of New York Mellon acting as reserve custodian for the token. As crypto rules coalesce around the globe, pressure is mounting on banks to take part in the integration of fiat-pegged stablecoins into mainstream finance (TradFi). SocGen, something of a stablecoin pioneer with its euro-backed EURCV token, says it is…

Société Générale-Forge Launches USD-denominated Stablecoin

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Société Générale-Forge, the crypto subsidiary of French financial services company Société Générale, has launched a new US dollar-pegged stablecoin. According to a June 10 announcement, the stablecoin, dubbed USD CoinVertible (USDCV), will be issued on the Ethereum and Solana blockchains. United Kingdom-based financial services firm BNY will act as the custodian for the assets backing the stablecoin. The announcement follows the firm’s April 2023 launch of its euro-pegged stablecoin EUR CoinVertible (EURCV) for institutional customers. “After the release of a MiCA-compliant EUR stablecoin (EURCV), the launch of a US Dollar…

Kakao’s Blockchain Pledges Stablecoin and Its Payments App Pumps 30%

layer-1 blockchain Kaia has pledged to launch a South Korean won-based stablecoin following the Wednesday inauguration of President Lee Jae-myung, a left-leaning politician whose campaign included a series of crypto-friendly promises. Launching a won-based stablecoin is one of the crypto goals laid out during Lee’s campaign that set him apart from other crypto-friendly candidates. The issuance of stablecoins faces legal hurdles, as South Korea’s constitution grants exclusive authority over currency issuance to the central bank, the Bank of Korea. Kaia eyes won-based stablecoins in a domestic market with an improving…