Tag: Stablecoin

Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

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Crypto firms are no longer just challenging the traditional financial system — they are increasingly becoming part of it. Companies like Circle and BitGo are reportedly pursuing banking charters and preparing for a wave of incoming stablecoin legislation that could further blur the lines between crypto firms and traditional banks. In the US, two major bills — the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act and the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act — aim to introduce new rules on stablecoin issuers,…

Stablecoin to Back $2B MGX Binance Deal

Key Notes MGX will invest $2 billion in Binance using World Liberty’s USD1 stablecoin. Eric Trump announced the investment during Token2049 Dubai. USD1 stablecoin will also be available on the Tron blockchain. MGX, a UAE-based investment firm, will use World Liberty Financial’s stablecoin, USD1, to finalize its $2 billion commitment to Binance, a prominent crypto platform. According to Eric Trump, USD1, which is linked to US President Donald Trump, will serve as the official stablecoin for this substantial investment in Binance. Eric Trump, the son of Donald J. Trump and…

Abu Dhabi institutional giants team up for dirham stablecoin

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A trio of major Abu Dhabi institutions, including the Emirate’s sovereign wealth fund, have teamed up to launch a new dirham-pegged stablecoin. Abu Dhabi’s sovereign wealth fund ADQ, the United Arab Emirates’ largest bank, First Abu Dhabi Bank (FAB), and the massive conglomerate the International Holding Company, have partnered to launch the stablecoin, pending regulatory approval, the three companies said on April 28. The trio said the stablecoin would be regulated by the UAE’s central bank and backed by the country’s currency, the dirham. It will also support use cases…

Mastercard Expands Stablecoin Acceptance With 360-Degree Digital Payment Strategy

Mastercard is turbocharging the future of payments with a sweeping launch of global stablecoin capabilities, revolutionizing digital wallets, merchant checkouts, and cross-border transactions. Mastercard Unveils Full-Scale Stablecoin Payments Network Globally Mastercard announced on April 28 a major step forward in digital payments by unveiling global, end-to-end capabilities aimed at enabling stablecoin transactions from digital wallets […] Source CryptoX Portal

US dollar to face growing competition for stablecoin dominance: Tether co-founder

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While United States dollar-denominated stablecoins dominate the stablecoin and real-world asset (RWA) tokenization game, other competitors are coming into play, according to Tether co-founder Reeve Collins.  Speaking to Cointelegraph in Dubai, Collins said that while USD-backed stablecoins may currently dominate, other currencies and assets may compete to back stablecoins. He said:  “The stablecoin definitely helps preserve the dollar dominance, especially in the crypto space. The dollar is kind of the reserve currency of crypto. But now there are other currencies coming into play. But more importantly, it’s not currencies. It’s…

Abu Dhabi launches new Dirham-backed stablecoin project, backed by major institutions

Abu Dhabi’s International Holding Company, ADQ, and First Abu Dhabi Bank announced plans to launch a dirham-backed stablecoin, fully regulated by the UAE Central Bank, aimed at advancing payment solutions and digital infrastructure. The stablecoin will operate on the ADI blockchain, according to The National, and will be issued by FAB, the UAE’s largest bank, pending regulatory approval, the companies said in a joint statement Monday.  The digital currency will be used by consumers, businesses, and institutions, supporting emerging applications like machine-to-machine transactions and artificial intelligence-driven processes. “This new stablecoin…

Citi Predicts $3.7 Trillion Bull Case Stablecoin Explosion in Global Markets

Citi forecasts U.S. dollar stablecoins could surge to $3.7 trillion in the bull case, driving an unprecedented blockchain-fueled transformation of global finance by 2030. US Dollar Stablecoins Set to Dominate Amid Global Blockchain Frenzy, Says Citi Citi’s Global Perspectives and Solutions division released a new report titled “Digital Dollars—Banks and Public Sector Drive Blockchain Adoption” […] Source CryptoX Portal

Citi Projects Stablecoin Market at $1.6T to $3.7T by 2030, Highlights Blockchain’s Rise in Banking Sector

In its April 2025 Global Perspectives and Solutions report, Citi Institute underscores the growing adoption of blockchain technology by banks and the public sector, spotlighting stablecoins and system modernization. The report forecasts the stablecoin market could reach $1.6 trillion by 2030 in its base case, driven by regulatory clarity and US dollar demand, potentially spurring […] Source CryptoX Portal

Stablecoin Market Adds $4.58B in One Week, Nears $240B Milestone

While the broader crypto market enjoyed steady gains last week, the stablecoin sector expanded notably, contributing an additional $4.581 billion to the fiat-linked crypto ecosystem. Fiat-Linked Tokens Expand Amid Market Volatility As of press time on Sunday, the stablecoin economy holds a valuation of $239.108 billion, requiring an additional $892 million to surpass the $240 […] Source CryptoX Portal

Stripe CEO Confirms Payments Company Is Developing New Stablecoin Product After a Decade of Interest

Stripe CEO Patrick Collison has announced that the payments company is actively developing a new stablecoin product, a project that they have wanted to pursue for nearly a decade. This announcement comes after Stripe’s acquisition of stablecoin platform Bridge in October 2024 for $1.1 billion. In a recent social media post, a member of the […] Source CryptoX Portal