Tag: Stablecoins

South Korea Central Bank Warns Stablecoins Could Complicate FX Controls

admin

South Korea’s central bank chief warned that Korean won-denominated stablecoins could complicate capital flow management, adding a note of caution to an ongoing debate among lawmakers over whether and how domestic stablecoins should be issued, according to local reports. Speaking at the Asian Financial Forum in Hong Kong, Bank of Korea Governor Lee Chang-yong said authorities are considering a new registration framework that would allow domestic institutions to issue virtual assets, according to a report by Radio Television Hong Kong. He cautioned, however, that stablecoins remain controversial because of their…

Stablecoins Emerge as Financial Rails in Africa, Says Former UN Official

admin

Stablecoins are increasingly being used across Africa as a cheaper and faster remittance option, with remittances becoming “more important than aid” on the continent, according to Vera Songwe, a former UN under-secretary-general. Speaking at a World Economic Forum panel in Davos, Switzerland on Thursday, Songwe said traditional money transfer services in Africa often cost about $6 for every $100 sent, making cross-border payments expensive and slow. She said stablecoins are cutting fees and settlement times, allowing individuals and small businesses to move money in minutes rather than waiting days for…

Billions of AI Agents to Use Stablecoins in 5 Years: Circle

admin

Within three to five years, billions of artificial intelligence agents that can work without human input will use crypto and stablecoins for everyday payments on behalf of users, says Jeremy Allaire, the CEO of stablecoin issuer Circle. “Three years, five years from now, one can reasonably expect that there will be billions, literally billions of AI agents conducting economic activity in the world on a continuous basis,” Allaire said on Thursday at the World Economic Forum in Davos, Switzerland. “They need an economic system. They need a financial system. They…

Circle CEO Frames Stablecoins as Neutral Infrastructure

admin

Circle CEO Jeremy Allaire said the company views its dollar-pegged stablecoin as neutral financial infrastructure with network effects, rather than a product meant to compete with existing payment companies. Speaking on CNBC’s Squawk Box during the World Economic Forum at Davos, Switzerland, Allaire said Circle does not view card networks such as Visa or Mastercard as competitors, describing them instead as “significant partners.” According to Allaire, stablecoins are “network effect businesses,” with usage and circulation increasing as more developers and institutions integrate, adding that Circle operates as a “neutral company” that does not compete with banks, payment companies or exchanges. He…

UN Gets Circle Grant to Expand Refugee Aid With Stablecoins

admin

Circle said digital financial infrastructure, including stablecoins, can save 20% of the cost of delivering humanitarian aid. Stablecoin issuer Circle has issued a grant to support the rollout of digital financial infrastructure across the United Nations, with the aim of making humanitarian aid payments more efficient. Announced at the World Economic Forum conference in Davos, Switzerland, on Wednesday, the Circle Foundation said its first international grant would support the UN’s Digital Hub of Treasury Solutions (DHoTS) “efforts to streamline monetary value transfers across the UN ecosystem.” The grant builds on…

Zach Pandl: Bitcoin projected to hit $126,000 by mid-2026, Ethereum to outperform due to regulatory clarity, and the rise of stablecoins in corporate finance

admin

Bitcoin is projected to reach a new all-time high by the first half of 2026. Ethereum is expected to continue outperforming Bitcoin due to its market dynamics. The US crypto industry is moving towards greater regulatory clarity. Key Takeaways Bitcoin is projected to reach a new all-time high by the first half of 2026. Ethereum is expected to continue outperforming Bitcoin due to its market dynamics. The US crypto industry is moving towards greater regulatory clarity. The Genius Act has significantly influenced the regulatory approach to crypto. Positive trends are…

Banks, Stablecoins and ETFs Collide in Crypto’s Next Phase

admin

A sharp fault line is forming across the digital asset industry between crypto products that increasingly resemble regulated financial institutions and a traditional banking sector warning that some of those innovations may be going too far. That tension is on full display this week. JPMorgan is cautioning that yield-bearing stablecoins risk recreating core banking functions without the safeguards built up over decades of regulation.  At the same time, Wall Street’s engagement with crypto continues to deepen, with Morgan Stanley’s exchange-traded fund (ETF) filings signaling what analysts describe as the next…

Galaxy CEO predicts imminent crypto bill passage with compromise on stablecoins

admin

Key Takeaways Galaxy CEO Mike Novogratz predicts a crypto bill will pass in weeks, thanks to bipartisan interest despite disagreements over stablecoin provisions. A compromise on stablecoins is expected, which may not fully satisfy the crypto industry but would enable the sector’s growth. Share this article Galaxy CEO Mike Novogratz expects the crypto market structure bill to pass within weeks, with a compromise on stablecoins that may not fully satisfy the crypto industry but would allow the sector to progress and grow under regulatory clarity. Speaking on CNBC’s ‘Squawk Box‘…

Major lender Newrez to accept Bitcoin, Ethereum, and stablecoins for mortgage qualification

admin

Key Takeaways Newrez will start accepting eligible crypto holdings as part of mortgage qualification. The move makes Newrez the first major lender among the country’s top 25 to formally recognize crypto in mortgage origination. Share this article Major US non-bank lender Newrez will allow borrowers to include certain crypto holdings when applying for a mortgage starting in February. Eligible assets are Bitcoin, Ethereum, SEC-approved spot ETFs backed by BTC or ETH, and USD-backed stablecoins. Homebuyers will be able to use these assets for income and asset verification without the need…

BofA CEO Warns Interest-Bearing Stablecoins Could Pull $6T from Banks

admin

Bank of America CEO Brian Moynihan warned that interest-bearing stablecoins could pull as much as $6 trillion out of the US banking system, arguing that large-scale deposit migration would reduce lending capacity and push borrowing costs higher. The comments surfaced after a crypto investor shared a screenshot from Bank of America’s earnings call transcript on X. During the call, Moynihan pointed to Treasury-cited studies showing that a significant share of bank deposits could shift into stablecoins if issuers are allowed to pay interest. He said such products would function more…