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 […]
Sweden Explores Offline Payments in the Final E-Krona CBDC Pilot Report
Sweden’s central bank, the Riksbank, has concluded its exploration into the potential of a digital krona with the publication of its fourth and final report on the project, released on March 20. This culminating document sheds light on the outcomes of the e-krona pilot, particularly emphasising the user experience and the digital currency’s offline capabilities, […]
South Africa Plans to Embrace Digital Payments and Blockchain for Greater Financial Inclusion
South Africa’s latest annual budget unveils a strategic plan by the treasury to enhance digital payment adoption. This initiative includes a thorough evaluation of stablecoins and blockchain technology, aiming to enrich the lives of marginalized communities. The 2024 budget review underscores the urgency of structural reforms and the improvement of public financial management, with a […]
Monei Launches Euro-Pegged Stablecoin Test under Bank of Spain Supervision
Fintech firm Monei has now initiated a pilot program for a stablecoin pegged to the euro, known as EURM, under the oversight of the Bank of Spain. This pilot, which commenced in January as part of the regulatory sandbox, involves a select group of individual participants to ensure a low margin of error. The purpose […]
UAE Central Bank Launches First Digital Dirham Transfer on mBridge Platform
The Central Bank of the United Arab Emirates (UAE) has successfully executed its inaugural cross-border transaction using the digital dirham. This transaction, amounting to 50 million dirhams (approximately $13.6 million), was facilitated through the mBridge central bank digital currency (CBDC) platform, transferring the funds to China. This significant financial move was reported by Gulf News […]
Circle and Chainlink Collaborate for Cross-Chain Stablecoin Transfers Amid Regulatory Developments
Jeremy Allaire, CEO of Circle, has expressed optimism about the United States passing a significant law pertaining to stablecoins in 2023. This optimism was shared during an interview at the World Economic Forum’s annual meeting in Davos, Switzerland, on January 15. Allaire emphasized the increasing global trend of digital dollars and the need for the […]
The Bank of Spain Advances CBDC Testing with Selected Partners
A year after issuing a call for collaboration on central bank digital currency (CBDC) tests, Spain’s Banco de España has now selected its partners. The announcement, made on January 3, identified Cecabank, Abanca, and Adhara Blockchain as the chosen collaborators among 24 applicants. Over the next six months, a pilot will be conducted focusing on […]
Eastern Caribbean Central Bank Seeking Technology Partners for DCash 2.0 CBDC Project
The Eastern Caribbean Central Bank (ECCB) is currently in the process of exploring the development of an advanced version of its digital currency, named DCash 2.0. As part of this endeavour, the ECCB has initiated a request for vendor information (RFVI). This request aims to gather insights from entities that have either created a retail […]
Palau Embarks on Phase Two of Innovative Stablecoin Project with Ripple
The Ministry of Finance of Palau has officially launched the second phase of the Palau Stablecoin (PSC) program. This phase aims to enhance the digital currency’s utility and reach by prioritizing the development of a digital ecosystem and increasing user engagement, while ensuring adherence to regulatory compliance. Jay Hunter Anson, a cybersecurity consultant in Palau […]
