Shanghai officials are showing a growing interest in stablecoins despite China’s longstanding ban on cryptocurrencies, signaling a potential policy shift in the country’s approach to digital assets. The Shanghai State-owned Assets Supervision and Administration Commission (SASAC) recently convened to discuss strategic responses to stablecoins and digital currencies, highlighting a more ...
Tether, the world’s largest stablecoin issuer, has announced a strategic investment in Crystal Intelligence, a blockchain analytics firm specializing in advanced risk monitoring, fraud detection, and regulatory intelligence solutions. This move comes amid a sharp rise in cryptocurrency-related crime, with the FBI reporting that crypto scams in the United States ...
Ant Digits has officially dismissed recent speculation linking the company to a potential partnership with Hainan Huatie involving real-world assets (RWA) and stablecoins. In a statement issued this week, the fintech subsidiary of Ant Group clarified that while preliminary conversations between the two entities have taken place, no formal agreements, ...
Animoca Brands is actively pursuing a stablecoin issuance license through a newly established joint venture with Standard Chartered Bank and Hong Kong Telecom as Hong Kong prepares to roll out its Stablecoin Ordinance. This strategic collaboration positions the company to operate within the region’s upcoming regulatory framework, aligning with its ...
Hong Kong is advancing its stablecoin licensing framework, with new regulations set to take effect by August 1, 2025. Financial Secretary Paul Chan confirmed the timeline in a blog post published on June 15, aligning with earlier statements from the Hong Kong Special Administrative Region Government. The initiative forms a ...
Eddid Financial is ramping up efforts to advance stablecoin adoption following the Hong Kong Legislative Council’s recent approval of the Stablecoins Bill. This landmark legislation marks a significant step in the city’s commitment to regulating digital finance, establishing a formal licensing framework for fiat-referenced stablecoin (FRS) issuers. In response, Eddid ...
Shopify is set to roll out stablecoin payment support for USD Coin (USDC) later this month, marking its most significant step into crypto integration to date. As first reported by Fortune on June 12, the e-commerce giant will enable select U.S. merchants to accept USDC—Circle’s dollar-pegged stablecoin—shortly after Circle’s recent ...
PayPal is preparing to expand the utility of its U.S. dollar-pegged stablecoin, PayPal USD (PYUSD), by launching it on the Stellar blockchain network pending regulatory approval from the New York State Department of Financial Services (NYDFS). This strategic move aims to unlock broader real-world use cases by leveraging Stellar’s low-cost, ...
Ant International, the overseas arm of Jack Ma-backed Ant Group, is preparing to roll out stablecoin services across major Asian financial hubs, according to a Bloomberg report. The move represents a significant shift for one of the world’s largest payment processors, which handled over $1 trillion in global transactions in ...
South Korea’s ruling Democratic Party has introduced a groundbreaking bill to legalize the issuance of stablecoins by local companies, marking a major step forward for the country’s digital asset sector. The Digital Asset Basic Act, unveiled just days after President Lee Jae-myung’s election victory, aims to modernize South Korea’s crypto ...
