Hong Kong's newly proposed stablecoin bill passed its first reading in the city’s Legislative Council today, December 18, 2024. This move brings the city closer to establishing a robust regulatory framework for fiat-backed stablecoin issuers. During the presentation of the bill, Christopher Hui, Hong Kong's Secretary for Financial Services and ...
BingX, a leading global cryptocurrency exchange, has launched AUSD on its Launchpool platform, allowing users to participate in staking with a total prize pool of 150,000 AUSD. This initiative provides seamless access to stable, dollar-pegged investments through AUSD, a stablecoin designed to unify liquidity across various blockchains. AUSD, the native ...
Australian regulators are ramping up efforts to tighten oversight of the country's cryptocurrency market, with the Australian Securities and Investments Commission (ASIC) leading the charge. On December 4, ASIC released Consultation Paper 381, which outlines strategies to close regulatory gaps in the sector and ensure adherence to current financial regulations. ...
Two former Revolut employees, Joao Alves and Guilherme Gomes, have secured $2.3 million in pre-seed funding to launch Bleap. This self-custodial stablecoin application is integrated with a Mastercard debit card. We’ve raised $2.3M in pre-seed funding to build Bleap—a bank on the blockchain! 🚀 The round was led by @etherealvc, ...
IDA Finance Hong Kong Limited and Quinlan & Associates have jointly released a report that examines the transformative potential of regulated stablecoins as reliable legal tender for real-world payments, both locally and globally. The report titled "From Digital Currency to Legal Tender: The Role of Regulated Stablecoins in Driving Real-World ...
Crypto-friendly Singapore Gulf Bank is reportedly seeking to raise a minimum of $50 million to expand its offerings and facilitate its acquisition of a stablecoin payments company in 2025. According to a Bloomberg report on November 25, the bank plans to secure the capital by selling up to 10% of ...
Dutch payment technology firm Quantoz Payments has announced the launch of two new stablecoins, EURQ and USDQ, set to go live in Europe on November 21. According to a November 18 press release, EURQ and USDQ are fully backed on a one-to-one basis by fiat reserves and highly liquid financial ...
Binance has announced that it will be the first exchange to launch the new stablecoin USUAL via its pre-market launch platform, Binance Launchpool. The crypto exchange stated that the token's dedicated page will go live 12 hours prior to its pre-market launch, which is scheduled for 10:00 UTC on November ...
The Reserve Bank of India (RBI) Governor Shaktikanta Das voiced strong concerns over stablecoins, which he described as "private money" that could undermine government sovereignty by allowing private issuers to dominate the payments system. Speaking at the G30 39th Annual International Banking Seminar in Washington, DC, Das argued that the ...
Payments giant Stripe is reportedly in talks with Texas-based stablecoin payments platform Bridge to enhance its range of cryptocurrency services. According to a recent Bloomberg report, the discussions are still ongoing. However, no official agreement has been reached, and both companies have remained tight-lipped about the potential deal. If Stripe ...
