Tag: Stablecoin

Global regulators review crypto banking rules amid stablecoin surge

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Key Takeaways Global regulators are reassessing banking rules for holding crypto, spurred by the rise of stablecoins. The Basel Committee may adapt prudential guidelines to reflect evolving risks and roles of stablecoins in financial systems. Share this article Global regulators are reviewing banking rules governing crypto holdings as stablecoins gain prominence in digital asset markets. The Basel Committee, which oversees international banking standards, is discussing potential adjustments to prudential frameworks that currently impose conservative treatments on crypto exposures. Under existing Basel standards, crypto assets are divided into groups with varying…

Revolut Rolls Out 1:1 USD to Stablecoin Conversions

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Neobank Revolut has introduced a 1:1 conversion between USD and stablecoins, allowing its 65 million users to exchange up to $578,630 every 30 rolling days without incurring fees or spreads. “Today marks the day we remove all anxiety and friction of moving between fiat and crypto,” Revolut’s Head of Product in Crypto, Leonid Bashlykov, posted to LinkedIn on Thursday.  “1:1 Stablecoins by Revolut — $1.00 means $1.00.” Revolut reported holding nearly $35 billion worth of assets on behalf of its customers in 2024, marking a 66% increase from 2023, while…

Bank Indonesia to Launch ‘Stablecoin Version’ Backed by Government Bonds

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Bank Indonesia (BI), Indonesia’s central bank, is moving ahead with plans to issue what it describes as its “national stablecoin version,” a digital currency backed by government bonds (SBN). The initiative was unveiled by central bank Governor Perry Warjiyo during the Indonesia Digital Finance and Economy Festival and Fintech Summit 2025 in Jakarta on Thursday, according to a report by CNBC Indonesia. During the summit, Warjiyo said Bank Indonesia plans to issue digital central bank securities, which are tokenized versions of SBN. The digital securities will be backed by the…

Mastercard in late-stage talks to acquire Zerohash for up to $2B in stablecoin push

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Key Takeaways Mastercard is set to acquire crypto infrastructure provider ZeroHash for nearly $2 billion. ZeroHash specializes in fiat-to-crypto conversions and has recently supported a major investment bank’s retail crypto trading service. Share this article Mastercard, a global payments firm, is set to acquire crypto and stablecoin infrastructure provider ZeroHash for nearly $2 billion, according to Fortune. ZeroHash enables seamless fiat-to-crypto conversions and trading for major financial institutions. Mastercard has been integrating crypto spending options through partnerships with wallets and platforms. ZeroHash’s collaborations with payment protocols have expanded connections to…

Korea’s Bank-Led Stablecoin Rollout Lacks Logic: Kaia Exec

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The Bank of Korea’s push for the banking sector to lead the rollout of won-denominated stablecoins lacks logic, says Dr. Sangmin Seo, the chair of the Kaia DLT Foundation. In a report released on Monday, the central bank argued that banks are already subject to strict regulations, including capital, foreign exchange, and Anti-Money Laundering requirements, which could help minimize any risks associated with introducing stablecoins to the country. At the same time, the BOK wants a policy consultative body jointly made up of currency, foreign exchange, and financial authorities to…

Remittance giant Western Union to launch USDPT stablecoin on Solana

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Key Takeaways Western Union will launch the USDPT stablecoin on Solana in 2026 to facilitate international money transfers. USDPT is backed by the US dollar and issued by Anchorage Digital Bank to reduce costs and speed up settlements. Share this article Western Union, one of the world’s largest consumer money transfer companies, plans to roll out a dollar-backed stablecoin named U.S. Dollar Payment Token (USDPT) on the Solana blockchain, according to a Tuesday press release. The news came after CEO Devin McGranahan told Bloomberg’s ‘The Close’ in July that Western…

Coinbase joins Apollo to bring stablecoin credit to institutional markets

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Key Takeaways Coinbase Asset Management and Apollo will co-develop tokenized stablecoin-credit products set for 2026. The partnership bridges traditional credit markets with blockchain yield opportunities. Share this article Coinbase Asset Management (CBAM), the institutional arm of Coinbase Global, has entered a strategic partnership with Apollo Global Management to introduce stablecoin-based credit strategies for qualified investors. The collaboration aims to merge the stablecoin, private-credit, and tokenization sectors, creating high-quality, blockchain-native credit opportunities. CBAM will leverage Apollo’s credit underwriting and tokenization expertise to build innovative lending and investment products, expected to launch…

Citigroup collaborates with Coinbase to explore stablecoin payments

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Key Takeaways Citigroup, a major US bank, and Coinbase, a leading crypto exchange, are collaborating to explore stablecoin payment solutions for institutional clients. The initiative aims to leverage stablecoins to enhance cross-border and enterprise payment systems, making transactions more efficient. Share this article Citigroup, a major US bank, has partnered with Coinbase, a leading crypto exchange platform, to explore stablecoin payment solutions for institutional clients. The collaboration aims to leverage stablecoins, digital assets pegged to fiat currencies, for enhanced cross-border and enterprise payment systems. Citi Ventures has backed BVNK, a…

Canada Could Unveil Stablecoin Rules in Federal Budget: Report

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The Canadian federal government is reportedly preparing new rules for stablecoins, with an update potentially coming in next week’s federal budget, signaling that more countries may follow the United States’ lead after the landmark passage of the GENIUS Act. Citing people familiar with the discussions, Bloomberg reported Monday that government officials have been meeting with regulators and industry stakeholders for several weeks. The update on stablecoin regulation could be unveiled as early as Nov. 4, when Finance Minister François-Philippe Champagne presents the federal budget. Canada lacks a comprehensive legal framework…

Tokyo Fintech JPYC Unveils First Yen Backed Stablecoin

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Tokyo-based fintech firm JPYC has launched Japan’s first yen-backed stablecoin along with a platform to issue the new coin, amid a growing global race to corner the growing market. The Japanese yen stablecoin JPYC went live on Monday and is backed one-to-one by bank deposits and government bonds, and also has a 1:1 exchange rate with the yen, the company said on Friday. At a press conference in Tokyo, JPYC President Noriyoshi Okabe said the stablecoin from his company is a “major milestone in the history of Japanese currency,” and…