Stablecoin Adoption Nigeria Launches Exploration Group
Nigeria’s government forms a working group to explore stablecoin adoption, marking a shift towards digital currencies. Announced by Central Bank of Nigeria Governor. #Update #Crypto
Stablecoins
Related to cryptocurrencies pegged to stable assets like fiat currencies or gold to reduce volatility.
Stablecoin Criminal Use Surges Despite 99% Licit
TRM Labs study reveals stablecoins’ dual role in growth and crime, with $4T in transactions from January to July. 99% of activity remains licit. #Update #Crypto
Tether Invests in Kotani Pay to Transform Africa
Tether invests in Kenyan fintech @KotaniPay to enhance blockchain cross-border payments and financial inclusion in Africa, supporting offline crypto transactions via mobile tech. #Update #Crypto $USDT
Stablecoin Bank Run Fears Diminished
OCC Chief Jonathan Gould reassures stablecoin deposit impacts won’t be sudden, amid calls to close regulatory loopholes; stablecoin market grows from $205B to $302B. #Update #Crypto
USDT Surges to $181B Despite Market Share Collapse
Tether’s $USDT market dominance fell to 59.9% as $USDC rose to 25.3% amid MiCA regulations; Tether’s supply grew significantly despite regional challenges. #Update #Crypto $USDT
Stablecoin Race: Asia’s Top Companies Compete
Japan’s mega-bank consortium plans a yen-pegged stablecoin, while China blocks Hong Kong projects, highlighting regulatory challenges in Asia’s stablecoin race. #Update #Crypto
Binance Bans Tech Giants’ Stablecoin Plans
China blocks @AntGroup and @JD.com from pursuing stablecoin plans in Hong Kong, aligning with Beijing’s regulatory priorities to control monetary policy. #Update #Crypto
Stablecoin Launch Delayed by Chinese Tech Firms
@AntGroup and @JD_Coinlink have delayed stablecoin launches in Hong Kong due to regulatory intervention from the People’s Bank of China and the Cyberspace Administration of China, citing threats to the digital yuan. #Update #Crypto
BlackRock Launches Stablecoin Money Market Fund
BlackRock is restructuring its money market fund to support stablecoin issuers under the US GENIUS Act, aligning with assets like US Treasuries for regulatory compliance. #Update #Crypto $USDC
Beijing Halts Ant Group Stablecoin Plans
Alibaba’s Ant Group and JD.com halted stablecoin projects after Beijing’s intervention, reflecting China’s regulatory scrutiny over digital currency issuance. #Update #Stablecoin
Bitcoin Giants Launch Yen-Pegged Stablecoin
Three of Japan’s largest banks, @MUFG, @SMFG_Official, and Mizuho Financial Group, plan to issue a yen-pegged stablecoin to digitize corporate settlements. #Update #Finance
Bitcoin: Dorsey Challenges Tether’s $250K Donation
Stablecoin issuer @Tether donates $250K to OpenSats, criticized by Jack Dorsey who donated $21M; Udi Wertheimer highlights Dorsey’s controversial investment in Ocean. #Update #Crypto $USDT
Tether Launches Open-Source Wallet Kit
Tether has launched an open-source Wallet Development Kit to support self-custodial wallets for Bitcoin, Lightning Network, and stablecoins like USD₮ and XAU₮. #Update #Crypto $USDT
Japan’s Top Banks Launch Joint Stablecoin Initiative
Japan’s three largest banks, @MitsubishiUFJ, @SumitomoMitsui, and @MizuhoFG, plan to launch a stablecoin pegged to the yen for corporate clients, enhancing blockchain-based digital money adoption. #Update #Crypto $USDT