Shaktikanta Das Departs RBI, Stresses Potential of Digital Rupee for India’s Economy
On his final day as Governor of the Reserve Bank of India (RBI), Shaktikanta Das outlined his vision for India’s economic transformation through the adoption of the central bank digital currency (CBDC), the digital rupee. In his farewell address on 10th December, Das reflected on his six-year tenure, during which he championed technological innovation. Notable […]
Tether to Phase Out Support for Euro-Pegged Stablecoin EURt
Tether, the company behind USDt (USDT), the world’s leading stablecoin by market capitalisation, has announced the discontinuation of its euro-backed stablecoin, EURt. The firm is advising users to redeem their EURt holdings within the next year. In a statement issued on 27 November, Tether confirmed it will no longer support EURt on any blockchain, ceasing […]
Former Binance Executives Launching MiCA-Compliant Euro Stablecoin Within Two Weeks
As the Markets in Crypto-Assets Regulation (MiCA) approaches its final enforcement deadline later this year, Europe is set to welcome a new euro-backed stablecoin to the digital currency landscape. Schuman Financial, a recently established cryptocurrency firm founded by former Binance executives Martin Bruncko and Eduardo Morrison, has announced its launch, unveiling its inaugural product, the […]
Norway Backs EU Crypto Regulation, Weighs Potential CBDC for Financial Stability
Norges Bank, Norway’s central bank, has voiced its support for the European Union’s Markets in Crypto-Assets (MiCA) regulation while evaluating the potential for a central bank digital currency (CBDC) to enhance cross-border payments and bolster financial stability. As part of the European Economic Area (EEA), Norway aligns closely with EU regulations, including MiCA. Kjetil Watne, […]
Stripe Acquires Stablecoin Platform Bridge for $1.1 Billion, Signalling Major Step into Digital Assets
In a landmark acquisition, Stripe, the global payments processor, has acquired stablecoin platform Bridge for $1.1 billion. This acquisition, confirmed by Stripe and Bridge, marks Stripe’s largest acquisition to date and one of the most significant in the cryptocurrency sector. Bridge, founded by entrepreneurs Sean Yu and Zach Abrams, has emerged as a prominent software […]
Paxos Launches Enterprise-Grade Stablecoin Payments Platform with Stripe Integration
Paxos, the blockchain company behind the Pax Dollar stablecoin, is making significant strides in expanding the use of stablecoins in the payments industry through its newly launched enterprise-grade infrastructure. On 15th October, Paxos revealed its new stablecoin payments platform, which is designed for payment service providers (PSPs) and fintech firms looking to integrate stablecoin payments […]
Brazil’s Drex CBDC pilot enters second phase with focus on privacy and interoperability
The Central Bank of Brazil has opened applications for phase two of its Drex central bank digital currency (CBDC) pilot project. Between 14th October and 29th November, businesses can submit proposals, particularly those that can be implemented using smart contracts. While no official launch date for Drex has been confirmed, Fábio Araújo, the Drex coordinator […]
Ripple CEO Predicts Growing Demand for Japanese Yen Stablecoins
Brad Garlinghouse, CEO of Ripple, has expressed optimism about the future demand for stablecoins tied to the Japanese yen, predicting that it is only a matter of time before such digital currencies gain traction in Japan. “People will want to hold yen stablecoins, and I think that is only a matter of time,” Garlinghouse stated […]
Uphold Delisting Tether and Five Other Stablecoins to Comply with MiCA Regulations
Uphold has notified its European users that it will cease support for six stablecoins—Tether (USDT), Dai (DAI), Frax (FRAX), Gemini Dollar (GUSD), Pax Dollar (USDP), and TrueUSD (TUSD)—effective July 1. This move aligns with the European Union’s Markets in Crypto-Assets Regulation (MiCA), which enforces stricter rules on fiat-backed and algorithmic stablecoins. Users must convert these […]
Stablecoins Coming to Bitcoin’s Lightning Network, CEO Elizabeth Stark
Lightning Labs is making headway in introducing stablecoins to the Bitcoin network. This advancement comes through the utilisation of Bitcoin’s Taproot upgrade, which was rolled out in late 2021. Elizabeth Stark, CEO of Lightning Labs, shared these insights during her presentation at FT Live’s Crypto and Digital Assets Summit in London. At the summit, Stark […]
