Bitcoin is expected to remain in a consolidation phase as long as conversions from fiat to stablecoins remain subdued, according to Matrixport, a digital asset firm based in Singapore. Matrixport highlighted a "significant slowdown" in fiat-to-crypto on-ramps in a research note shared via an X post. This was primarily reflected ...
DeFi protocol Frax Finance has opened voting on whether to adopt BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) as the primary reserve asset for its upcoming stablecoin, Frax USD (frxUSD). The voting period runs from December 27, 2024, to January 1, 2025. “The vote to onboard Blackrock $BUIDL as the ...
OKX Ventures, the venture arm of the global cryptocurrency exchange OKX, has invested an undisclosed amount in Usual Protocol, a decentralized stablecoin issuer pioneering a unique financial model. In its December 24 announcement, OKX Ventures stated the investment reflects its commitment to supporting projects that connect traditional finance with decentralized ...
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 ...
