Stablecoin
Latest news, explainers and analysis on Stablecoin. Tracking 17 stories on Arth Vani.
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Latest on Stablecoin
US Senate Probes Tether Payments to Political Firm
A leading Democratic investigator in the U.S. Senate is examining payments made by stablecoin issuer Tether to a firm linked with political figure Bo Hines. The specifics of this investigation, including the nature and amounts of these payments, are currently undisclosed.
Tether Defends Iran Transaction Monitoring Amid US Senator's Probe
Tether, the issuer of the largest stablecoin USDT, is defending its compliance efforts against a US Senator's investigation. The company claims the probe overlooks its success in reducing illicit financial transactions, specifically highlighting lower volumes from sanctioned regions like Iran.
US Senator Probes Cantor Fitzgerald's Ties to Crypto Giant Tether
A senior US Senator is investigating the relationship between financial services firm Cantor Fitzgerald and Tether, the issuer of the world's largest stablecoin. The probe focuses on the stability and backing of Tether's USDT stablecoin, a critical component of the global crypto market.
SoFi Becomes First Bank to Settle Stablecoins via Mastercard Network
SoFi, a US-based bank, has become the first financial institution to enable stablecoin settlements across Mastercard's global network. This pioneering move aims to integrate blockchain technology into mainstream finance, potentially making cross-border payments faster and more affordable.
SoFi Bank, Mastercard Partner for Blockchain-Based Stablecoin Settlement
US-based SoFi Bank has teamed up with Mastercard to integrate its entire card program with blockchain settlement, using its proprietary stablecoin, SoFiUSD. This move signifies a major step in bringing stablecoin technology into mainstream financial networks for faster and more efficient transactions.
SBI Group Backs Singapore's Stablecoin Payments Firm dtcpay with US$25 Million Investment
Japan's SBI Group has invested US$25 million (around ₹207.5 crore) in a Series A funding round for Singapore-based dtcpay, a company specialising in stablecoin payment solutions. This move highlights SBI Group's growing interest in digital assets and the evolving global fintech landscape.
Visa, Circle, Ripple Invest ₹83 Crore (USD $10M) in UK Stablecoin Startup Velocity
UK-based stablecoin startup Velocity has secured approximately ₹83 crore (USD $10 million) in an extended Series A funding round. This investment comes from prominent global financial and crypto players, including Visa, Circle, and Ripple, highlighting growing institutional interest in stablecoin infrastructure.
US Bank Pilots Own US Dollar Stablecoin for International Transactions
US Bank has successfully completed a pilot transaction between North America and Europe using its proprietary USBDC stablecoin. This marks a significant step for a major traditional bank in exploring blockchain technology for internal cross-border transfers.
Visa Leverages Blockchain & Settlement Data for Fintech Working Capital
Global payments giant Visa is integrating its extensive settlement data with blockchain lending infrastructure to provide working capital solutions for fintech companies and card programs linked to stablecoins. This initiative aims to streamline access to crucial funds within the evolving digital finance ecosystem.
Visa Joins Singapore Central Bank Pilot to Integrate Stablecoin Payments
Global payments major Visa has partnered with the Monetary Authority of Singapore (MAS) on a pilot project aimed at connecting traditional payment systems with stablecoin networks. This initiative seeks to explore how digital currencies like stablecoins can be integrated for more efficient settlements and transactions in the future.
Trump Family-Backed Firm World Liberty Gets US Approval to Issue Stablecoins
World Liberty Trust Company, a firm backed by the Trump family, has received conditional approval from the US Office of the Comptroller of the Currency (OCC) for a national trust bank charter. This significant regulatory step will allow the company to issue stablecoins, bringing a crypto entity under traditional banking oversight in the United States.
MoonPay Launches Stablecoin Platform for Businesses Globally
Crypto firm MoonPay has introduced a new platform designed to help businesses integrate stablecoins for various financial operations. This infrastructure suite aims to simplify how companies use digital currencies pegged to traditional assets like the US Dollar, potentially improving global payments and treasury management.
New LaunchBreakingWestern Union Launches Stablecard: Stablecoin-Backed Visa Card for Global US Dollar Use
Western Union has introduced 'Stablecard,' a new digital wallet and Visa secured credit card. This offering allows users to hold, move, and spend US dollar value internationally, backed by stablecoins.
WisdomTree Exec: SEC Allowed Money Market Fund to Trade Like a Stablecoin
Will Peck from global investment firm WisdomTree stated that the US Securities and Exchange Commission (SEC) has permitted a money market fund to function similarly to a stablecoin. This comment highlights a potential convergence between traditional finance and the evolving cryptocurrency space, signaling innovation in stable investment products.
Circle Acquires Nearly 1,000 IBM Blockchain Patents to Enhance Stablecoin Tech
Stablecoin issuer Circle Internet Finance has announced the acquisition of close to 1,000 blockchain-related patents from tech giant IBM. This strategic move aims to bolster Circle's technological foundation and competitive edge in the evolving digital currency landscape, particularly for its USDC stablecoin.
Ripple's Stablecoin Faces Challenges, XRP Value Declines
Ripple's planned stablecoin launch is encountering hurdles, with its value reportedly diminishing on a popular blockchain. This development has coincided with a notable drop in the price of XRP, the cryptocurrency associated with Ripple.
BreakingStablecoin Premium in India Soars Above 8.5% Amid Regulatory Clampdown
Indian users are facing a significant surge in the price of stablecoins like USDT, with premiums now exceeding 8.5%. This increase follows actions by the Enforcement Directorate against entities facilitating crypto transfers, disrupting a key remittance channel for NRIs and highlighting the urgent need for clearer crypto regulations.
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