Stablecoins shed $12.7B as crypto liquidity thins
@DefiLlama data shows $USDC supply fell $878.72M over seven days to $71.743B, adding to concerns about crypto buying power. Tokenized Treasuries complicate the picture. #Update #Stablecoins $USDC
Stablecoin
HSBC Launches First Stablecoin for HKD Payments
@HSBC launched its regulated Hong Kong dollar stablecoin, RedCoin, through PayMe, giving 3.3 million users access to instant transfers and payments at over 100,000 merchants. #Breaking #Stablecoins
HSBC Launches RedCoin for 3.3M HK Users
@HSBC launched $RCHKD, its Hong Kong dollar-pegged stablecoin, and plans to offer transfers and merchant payments to 3.3 million PayMe users in the coming days. #Update #Stablecoins
Crypto-lending vaults surpass $10B, prompting systemic-risk warnings
DeFi lending vault deposits have topped $10 billion. @Zigfinance warns that reused collateral and withdrawal pressures could spread losses across platforms, while @EchoBase calls for capital buffers. #Update #DeFi
Fireblocks Denies Visa Deal Rumors After Report
@Fireblocks denied an @Axios report that @Visa was in talks to buy it for $2.5 billion. Visa declined to comment. #Update #Acquisitions
Colombian Crypto Broker Jailed Over Stablecoin Laundering
Colombian crypto broker Leonardo de Jesus Zuluaga Duque received a 160-month prison sentence for laundering drug proceeds through $USDT; a judge ordered $14.75 million forfeited. #Update #Legal $USDT
Banks Challenge OCC Over Stablecoin Threat
The American Bankers Association and Independent Community Bankers of America criticized the Office of the Comptroller of the Currency’s stablecoin rule, warning indirect rewards could drain bank deposits and curb local lending. #Update #Stablecoins
MoonPay, Upbit Parent Dunamu Target Global Finance
@MoonPay and @Dunamu, parent of @Upbit, will explore stablecoin payments and corporate treasury services by linking MoonPay’s global network with Dunamu’s GIWA blockchain. #Update #Stablecoins
Businesses’ Stablecoin Steps After the GENIUS Act
A new GENIUS Act guide says stablecoin issuers and distributors face different requirements. Businesses should map fund flows, review counterparties and assign compliance duties. #Update #Stablecoins @MDHesq
Circle Keeps 7% of $1.4B Revenue
@circle says it kept 7% of $1.4B in revenue after partner and operating costs, while expanding free, near-real-time $USDC redemptions around the clock. #Update #Stablecoins $USDC
Visa, Mesh Seek End to Separate Crypto-Card Requirement
@Visa and @Mesh plan to let customers spend crypto wallet balances at Visa checkout terminals, with Mesh handling conversion. No launch date or participating platforms were announced. #Update #CryptoPayments
Mastercard Unveils Stablecoin Security for Digital Payments
@Mastercard launched Stablecoin Security with @Borderlessxyz and @Keyrails, giving payment providers fraud and sanctions risk scores before stablecoin transfers settle. #Update #Stablecoins
Stablecoins Face Persistent Banking Risks
Frgmnt CEO Aurélien Roussel urges stablecoin issuers to diversify reserves post-2023 bank failures, highlighting ongoing dependency on traditional financial systems. #Update #Crypto $USDT
Visa Launches Stablecoin Payments Pilot
@Visa partners with Inyo Global to launch real-time $USDC stablecoin payouts in 180 countries, enhancing cross-border payment efficiency. #Update #Crypto $USDC