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 ...
Ripple’s U.S. dollar-backed stablecoin RLUSD has received regulatory approval from the Dubai Financial Services Authority (DFSA) for use within the Dubai International Financial Centre (DIFC), marking a key milestone for the firm’s global expansion efforts. The green light makes RLUSD one of the few stablecoins approved under both the DFSA’s ...
OSL Wealth, a division of OSL Group, has introduced a new yield-generating stablecoin product tailored for institutional and professional clients. This offering utilizes Ethena Labs’ Staked USDe (sUSDe), providing dollar-pegged stability combined with attractive on-chain yields and daily liquidity. Clients can access the product through OSL’s OTC desk, trading with ...
South Korea’s largest political party is urging the government to fast-track the institutionalization of Korean won-pegged stablecoins, taking inspiration from the Trump administration’s recent stablecoin legislation. According to local media Edaily, lawmakers from the Democratic Party are calling for regulatory frameworks to support KRW-backed stablecoins. Min Byeong-deok, chairman of the ...
Worldwide Stablecoin Payment Network (WSPN) has launched a newly redesigned website, reinforcing the company’s growing role as a frontrunner in next-generation stablecoin infrastructure. This relaunch marks a pivotal shift for WSPN as it moves beyond conventional stablecoin offerings. The updated platform highlights the company’s ambition to transform the digital economy ...
