Tag: Stablecoin

Kyrgyzstan Launches Stablecoin While Confirming Future CBDC

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Kyrgyzstan has rolled out a new stablecoin pegged 1:1 to the Kyrgyzstani som, while confirming plans to issue a central bank digital currency and explore a digital asset reserve. The KGST stablecoin will run on the BNB Chain, and BNB (BNB) would be included in the crypto reserve if launched, according to former Binance CEO Changpeng ‘CZ’ Zhao, who attended the National Council for the Development of Virtual Assets and Blockchain Technologies’ second meeting on Friday with President Sadyr Japarov. The first meeting took place around April, when CZ became…

Tether plans to expand USAT stablecoin reach to 100M Americans by December: CoinDesk

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Key Takeaways Tether is positioning Rumble as a major distribution partner for its USAT stablecoin launch. The Rumble integration will allow Bitcoin and crypto tipping, expanding access to 51 million US users. Share this article Tether, the issuer of USDT, plans to expand its USAT stablecoin reach to 100 million Americans by December as it moves into US-regulated digital assets. USAT is a fully compliant stablecoin under the GENIUS Act, backed one-to-one with the US dollar and operated via Anchorage Digital, with reserves managed by Cantor Fitzgerald. At an event…

Zelle Adopting Stablecoin Rails for Cross-Border Payments to and From US

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Early Warning Services, the parent company of payments platform Zelle, said on Friday that stablecoins will be integrated into Zelle to facilitate cross-border transactions for money flowing to and from the United States. Zelle launched in 2017 and already features near-instant payments between users that are integrated into the online banking services of many US banks. Early Warning Services said in Friday’s announcement: “We’re investing where consumer need, bank capability and global opportunity intersect.” The Zelle platform is collectively owned by the member banks that use the service, including, but…

Tether Forecasts $15B Profit for 2025 Amid Stablecoin Boom

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Stablecoin issuer Tether expects 2025 to mark another record year for profitability, underscoring the company’s powerful business model as global adoption of digital dollars continues to accelerate. According to Bloomberg, the El Salvador–based company projects approximately $15 billion in profit for 2025 — up from $13 billion in 2024. This growth further cements Tether’s position as one of the most profitable companies in the world on a per-employee basis. Tether’s success, driven by the dominance of its USDt (USDT) token, the world’s largest stablecoin with nearly $186 billion in circulation,…

Modern Treasury acquires stablecoin startup Beam for $40 million

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Key Takeaways Modern Treasury acquired Beam, a stablecoin startup, for $40 million. The acquisition could expand Modern Treasury’s blockchain-based payment capabilities for enterprise clients. Share this article Modern Treasury, a payments company focused on streamlining fund movements, has acquired stablecoin startup Beam for $40 million. The acquisition integrates Beam’s stablecoin payment technology into Modern Treasury’s existing infrastructure, extending its capabilities in blockchain-based settlements and positioning the company to offer faster, lower-cost global payments for enterprise clients. Stablecoin ecosystems are increasingly backed by US Treasuries, driving private sector demand and aligning…

Tether’s USDT Stablecoin Reaches 500 Million Users

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US dollar-pegged stablecoin Tether hit its 500 millionth user on Tuesday, according to its CEO Paolo Ardoino, offering a means to transact and save for those who have been excluded by the traditional banking system. “Likely the biggest financial inclusion achievement in history,” Ardoino wrote in a post on X. Source: Paolo Ardoino Tether said the figure represents 500 million “real people,” not simply Tether (USDT) wallets, suggesting its stablecoin has now been used by around 6.25% of the world’s population. The World Bank Group estimates there are 1.4 billion…

China Tech Giants Halt Hong Kong Stablecoin Plans Amid Beijing Concerns

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Chinese technology giants, including Ant Group and JD.com, have reportedly suspended plans to issue stablecoins in Hong Kong after regulators in Beijing voiced concerns over privately controlled digital currencies. The companies were instructed by the People’s Bank of China (PBoC) and the Cyberspace Administration of China (CAC) to pause these initiatives, the Financial Times reported on Sunday, citing sources familiar with the matter. “The real regulatory concern is, who has the ultimate right of coinage — the central bank or any private companies on the market?” one source familiar with…

Alibaba-backed Ant Group and JD.com freeze stablecoin plans after Beijing intervenes: FT

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Key Takeaways Alibaba’s Ant Group and JD.com have stopped their stablecoin projects due to instructions from Beijing. These projects focused on yuan-based digital assets developed by major technology firms in China. Share this article Chinese tech giants, including Alibaba’s Ant Group and JD.com, have halted their stablecoin development projects following direct intervention from Beijing, according to the Financial Times. The suspension affects yuan-based digital asset initiatives that major Chinese technology firms had been developing amid ongoing regulatory scrutiny from the central government. Beijing recently directed brokerages and think tanks to…

ACI enables Bitcoin and stablecoin payments for merchants through BitPay integration

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Photo: T. Schneider/ Shutterstock Key Takeaways ACI Worldwide has partnered with BitPay to expand digital currency payment options for merchants and payment service providers. The integration enables both cryptocurrency and stablecoin payments for global merchants and payment service providers. Share this article ACI Worldwide, a global payments software provider, today announced it is expanding its Payments Orchestration Platform through a partnership with BitPay, allowing merchants worldwide to accept and manage digital currencies alongside traditional payment methods. Bitcoin acceptance has expanded among merchants in regions like France and Switzerland, with businesses…

BlackRock revamps its money market fund to tap booming stablecoin demand

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Key Takeaways BlackRock is restructuring its money market fund to meet the needs of stablecoin issuers under the US GENIUS Act. The move aligns the fund with the asset composition typically used to back regulated stablecoins such as USDC and PYUSD. Share this article BlackRock is reconfiguring its money market fund to cater specifically to stablecoin issuers, aligning with the new US stablecoin regulations under the GENIUS Act, CNBC reported Thursday. The restructured BlackRock Select Treasury Based Liquidity Fund now focuses on investments in short-term US Treasury securities and overnight…