Tag: Stablecoin

Aave’s Push Service Gains MiCA Authorization for Stablecoin On-Ramps

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Aave Labs became one of the first major decentralized finance (DeFi) projects to secure authorization under Europe’s new Markets in Crypto-Assets (MiCA) regulation, allowing the company to offer regulated stablecoin ramps across the European Economic Area (EEA). The approval enables “Push,” Aave Labs’ fiat-to-crypto service, to let users convert between euros and crypto assets, including the Aave protocol’s native stablecoin, GHO. The Central Bank of Ireland granted the authorization to Push Virtual Assets Ireland Limited, a wholly-owned subsidiary of Aave Labs.  The company selected Ireland for its European operations, signaling…

FDIC Considering Tokenized Deposit Insurance, Stablecoin Applications

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The acting chair of the Federal Deposit Insurance Corporation (FDIC), the regulatory body overseeing banks in the US, is reportedly considering guidance for tokenized deposit insurance and plans to launch an application process for stablecoins by year’s end. Acting FDIC Chair Travis Hill, who has made bullish statements about tokenization in the past, told the Federal Reserve Bank of Philadelphia’s Fintech Conference on Thursday that the regulator will eventually release guidance around tokenized deposit insurance, according to reports. The FDIC protects depositors in the event of a bank failure and…

Banning Stablecoin Merchant Rewards Would Be Unamerican: Coinbase

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Crypto exchange Coinbase has slammed US banking groups for asking regulators to ban merchant rewards, cashbacks and discounts offered to customers who pay with stablecoins, calling the request “unamerican.” The clash relates to the statutory language of the GENIUS Act, which prohibits stablecoin issuers from offering interest or yield to holders of the token, but it does not explicitly extend the ban to crypto exchanges or affiliated businesses. The banking groups claim an “indirect interest” arises when a third-party financially benefits and has a connection to the stablecoin issuer. Coinbase…

Cash App to Unlock Stablecoin Transactions ’Soon’

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Jack Dorsey’s Block announced that users will soon be able to send and receive stablecoins through its mobile platform Cash App. In a Thursday notice, Cash App announced plans to release several features for crypto and blockchain users, including the ability to spend Bitcoin (BTC), convert fiat into BTC payments and send and receive stablecoins. Fortune reported that the features could be implemented on the app in early 2026. “Soon, millions of Cash App customers will be able to make fast, low-cost payments even if they don’t hold Bitcoin,” said…

BNY Launches Stablecoin Reserves Fund for US Issuers Under GENIUS Act

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Global bank giant BNY Mellon has launched a money market fund designed to hold reserves for US stablecoin issuers. According to a Thursday announcement, the fund is open to US stablecoin issuers and other qualified institutional investors operating in fiduciary, agency, advisory, brokerage or custodial roles.  The fund is designed to hold the cash reserves mandated by the GENIUS Act, the July 2025 law establishing the first federal framework for US stablecoins and defining the standards for their backing assets. It will not invest directly in stablecoins. According to fund documents,…

Czech Central Bank acquires $1M in Bitcoin, stablecoin, and tokenised deposit

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Key Takeaways The Czech National Bank purchased digital assets for the first time, creating a $1 million blockchain-based test portfolio outside its international reserves. The goal is to gain practical experience with Bitcoin and digital tokens, while testing custody, settlement, security, and AML processes. Share this article The Czech National Bank, the national monetary authority of the Czech Republic, acquired $1 million in digital assets, including Bitcoin, a USD stablecoin, and a tokenised deposit, as part of a test portfolio held outside of its international reserves. The acquisition positions the…

Sui Network introduces native stablecoin for payments and DeFi with Bridge

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Key Takeaways Sui Network has introduced a new fiat-backed stablecoin called USDsui. USDsui is developed in partnership with Bridge to enhance DeFi and payments on Sui. Share this article Sui Network today launched USDsui, a new stablecoin developed in partnership with Bridge, which was acquired by Stripe earlier this year, to enhance payments and decentralized finance applications on its blockchain platform. The fiat-backed stablecoin is designed for yield-sharing and real-world use cases, positioning USDsui as a key anchor for Sui’s economy. The token supports applications in e-commerce and gaming alongside…

BOE Governor Says Weak Stablecoin Rules Could Risk Stability

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Weaker stablecoin rules in the UK could risk financial stability and trigger a credit crunch, according to the Bank of England’s deputy governor, Sarah Breeden. “We have a different set of risks to manage as we transition to bringing in this new form of money,” Breeden’s told Reuters on Tuesday. Last week, she said that the UK can keep pace with the US on stablecoin regulation. Crypto industry leaders have criticized the BOE’s stablecoin consultation paper released on Monday, which proposed a relatively strict stance on stablecoin regulation in comparison…

Coinbase cancels $2B acquisition of stablecoin startup BVNK

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Key Takeaways Coinbase has dropped its plan to buy BVNK, a stablecoin infrastructure startup, for $2 billion. The acquisition was aimed at strengthening Coinbase’s stablecoin payments capabilities. Share this article Coinbase, a US-based cryptocurrency exchange, has abandoned its planned $2 billion acquisition of BVNK, a London-based startup providing infrastructure for stablecoin operations, Fortune reported today. The exchange had been in late-stage negotiations to acquire BVNK as part of its strategy to advance stablecoin payments capabilities before deciding to abandon the deal. Mastercard has also engaged in advanced discussions to acquire…

Transak expands stablecoin services with 5 new US state licenses

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Key Takeaways Transak obtained money transmitter licenses in five additional US states: Iowa, Kansas, Michigan, South Carolina, and Vermont. These licenses enable Transak to expand its regulated fiat-to-crypto operations across the US. Share this article Transak, a stablecoin payment company, has secured money transmitter licenses in five new US states to expand its regulated fiat-to-crypto operations. The company obtained licenses in Iowa, Kansas, Michigan, South Carolina, and Vermont. The expansion highlights the ongoing need for crypto firms to navigate state-by-state compliance requirements for stablecoin operations across the US. Money transmitter…