Tag: Stablecoin

Tether Launches New Stablecoin in U.S. Expansion Push

Key Notes Tether announced a new U.S.-based stablecoin at Token2049 Dubai. The stablecoin aims to meet U.S.regulatory standards and operate separately from USDT. CEO Paolo Ardoino is strengthening ties with U.S.lawmakers and regulators. . Stablecoin issuer Tether plans to launch a new dollar-pegged stablecoin based in the United States that will comply with domestic regulatory requirements. This new stablecoin is expected to operate independently from the existing USDT. Tether’s CEO, Paolo Ardoino, announced the development at Token2049 Dubai, revealing that the company is actively working with U.S. regulators to release…

Treasury Committee Eyes Stablecoin Boom Fueling US Bond Demand

Stablecoins are rapidly transforming U.S. Treasury demand, reshaping financial markets, and redefining the global role of the U.S. dollar. US Treasury Signals Stablecoin Boom Could Reshape Fiscal Strategy The U.S. Department of the Treasury published on April 30 the official minutes from the April 29, 2025, meeting of the Treasury Borrowing Advisory Committee, emphasizing the […] Source CryptoX Portal

U.S. Senate Moves Toward Action on Stablecoin Bill

The U.S. Senate may soon vote on legislation that would establish U.S. regulations for the issuers of stablecoins, also marking the first time the chamber has considered a major crypto bill. Senate Majority Leader John Thune, a South Dakota Republican, started the ball rolling to fast-track the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which is the Senate’s version of two similar bills rolling through both chambers of Congress. The House of Representatives is expected to follow closely behind on its own voting. Thune’s move to expedite…

SEC Ditches PayPal’s PYUSD Probe, Removing Key Regulatory Hurdle for Its Stablecoin

The U.S. Securities and Exchange Commission has closed its investigation into PayPal’s dollar-backed stablecoin, PayPal USD (PYUSD), without taking enforcement action, ending a regulatory chapter that began more than a year ago, the company said. “In November 2023, we received a subpoena from the U.S. SEC Division of Enforcement relating to PayPal USD stablecoin. The subpoena requested the production of documents. In February 2025, the SEC communicated it was closing this inquiry without enforcement action,” PayPal disclosed this week in a filing. Wednesday’s filing marks the latest SEC move to…

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…