Stablecoins, central bank digital currencies and the new rails of digital cash.
PayPal’s stablecoin, PayPal USD (PYUSD), appears to have quietly gone live on the Ethereum Layer 2 network Arbitrum. An update to the payment giant’s cryptocurrency terms and conditions, dated July 16, now lists Arbitrum alongside Ethereum and Solana as supported networks for PYUSD. Previously, the terms and conditions only mentioned Ethereum and Solana. The change … Read more
Circle Internet Group, the issuer behind the prominent dollar-pegged stablecoin USDC, has formally applied to the Office of the Comptroller of the Currency (OCC) to establish a new entity: First National Digital Currency Bank. Submitted on June 30, this strategic move aims to bring Circle’s stablecoin reserves under direct federal oversight and expand its digital … Read more
Argentina is experiencing a notable surge in the price of USDT, with reports indicating a rise above the 1,280 peso mark on July 8. This effectively prices USDT at approximately USD 1.02, deviating from its usual USD 1.00 peg, as demand for the US dollar intensifies across the Latin American nation. This development follows a … Read more
In a strategic move to accelerate stablecoin adoption and expand payment capabilities on its high-throughput Layer-1 blockchain, the Monad Foundation announced Wednesday its acquisition of Portal Labs, the team behind Portal’s embedded stablecoin wallet infrastructure platform. This integration is set to create a comprehensive ecosystem for enterprise-grade stablecoin payments while maintaining Portal’s existing customer relationships … Read more
Stablecoin issuer Circle has forged a significant partnership with leading cryptocurrency exchange OKX to drastically enhance liquidity for conversions between its USDC stablecoin and the U.S. dollar. This collaboration marks a major step towards reducing friction in fiat-to-crypto on- and off-ramps, making it easier and more cost-effective for users to move between traditional currency and … Read more
Tether, the powerhouse behind the world’s largest stablecoin, USDT, is embarking on a bold and multifaceted strategic shift. Under the leadership of CEO Paolo Ardoino, the company is not only preparing to launch a fully compliant U.S.-based stablecoin in response to the recently passed GENIUS Act, but also aiming to become the world’s largest Bitcoin … Read more
Hong Kong is solidifying its position as a leading global digital asset hub, implementing robust new regulatory measures to combat fraud and bolster investor protection. The Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) have recently proposed a new licensing regime for over-the-counter (OTC) virtual asset trading services, following … Read more
The election of President Donald Trump has reignited optimism in the cryptocurrency sector, fueled by his administration’s push for regulatory clarity and support for digital asset adoption. This renewed policy backing has sparked significant capital inflows into digital assets—led, unsurprisingly, by Tether. Tether Mints $1 Billion in USDT on Ethereum In a notable move, Tether … Read more
Russia’s state-owned tech giant Rostec is making a notable entry into the crypto space — but with a firm grip on centralized control rather than embracing decentralization. Instead of following the path of most blockchain ventures, Rostec is preparing to roll out a ruble-pegged stablecoin and a blockchain-based payment system, both carefully designed to operate … Read more
A New Era for Stablecoins The cryptocurrency industry is on the brink of a transformative shift in the United States as the GENIUS Act edges closer to becoming law. This sweeping piece of legislation introduces strict regulatory safeguards for stablecoins—digital assets prized for their price stability—and seeks to bridge the gap between traditional finance and … Read more