Senate Probes GCC Stablecoin Transactions
The U.S. Senate PSI identifies $USDT as a key liquidity rail for Iran, raising sanctions risks for GCC VASPs. UAE firms urged to enhance KYC and counterparty checks. #Update #Legal
Stablecoin
Yen Stablecoin Revolutionizes Corporate Finance
Startale Japan Co. Ltd. issues a corporate bond using the yen stablecoin JPYSC for payments, marking a first in Japan’s financial market. #Update #Stablecoin
Tether Sued Over $2.76M USDT Freeze
Conduit Technology sues @Tether_to over a $2.76M USDT freeze, claiming unauthorized seizure of funds without police request; seeks unfreeze and damages. #Breaking #Legal
Stablecoin Adoption Surges as Visa Targets APAC
@Visa’s study reveals 46% of APAC consumers plan to use stablecoins in five years, despite only 6% understanding them. Visa aims to integrate stablecoins into its payment systems. #Update #Crypto
Binance Proposes Tax on Crypto Conversions
French executives propose taxing crypto-to-stablecoin conversions, sparking debate over potential impacts on crypto adoption and tax collection. #Update #Crypto
Stablecoin Petition Surges Past 126000 Signatures
More than 126,000 people signed a Stand With Crypto EU petition urging the European Commission to revise stablecoin regulations under MiCA, advocating for euro-denominated stablecoins and rewards. #Update #Crypto $EU
EU Central Banks Clash Over Stablecoins
Over 50,000 EU citizens emailed the European Commission to allow stablecoin rewards, while 126,600 signed a petition for broader MiCA changes. EU central banks oppose these incentives. #Update #Crypto
USDC Transfer: Lloyds Sends Visa $750K
Lloyds settled $750K in Visa obligations using $USDC, completed in under an hour during a seven-day pilot, showcasing stablecoin efficiency beyond banking hours. #Update #Crypto $USDC
OUSD Stablecoin Launches with Open Standard
Open Standard has launched its Open USD stablecoin (OUSD) for businesses and developers, running on Base, Ethereum, Solana, and Tempo. Reserves are held at BlackRock, Lead Bank, and BNY. #Update #Crypto $USDT
HSBC Redcoin Launches Payments in Hong Kong
HSBC unveils Redcoin, a stablecoin for transfers and merchant payments in Hong Kong via PayMe and the bank’s app, following regulatory approval. #Update #Crypto
Ripple RLUSD Surges 50% Hits $2.4B
Ripple’s RLUSD market cap exceeds $2.4B, with daily activity tripling since January; August reserves hit $2.446B, surpassing tokens by $120M. #Update #Crypto
Stripe-Backed OUSD Secures $1B Investment
@OpenStandard’s OUSD stablecoin launched with $1B from partners like @Coinbase and @Visa, reporting $400M liquidity on day one as it challenges $USDT and $USDC. #Update #Crypto
Bitcoin: Moonpay Partners Korean Banks for Stablecoin
Moonpay Korea launches with Kakaobank, Woori Bank, and KB Financial Group to expedite international remittances and explore stablecoin payments. #Update #Fintech
Stablecoin Payments Launch for Corporate Clients
@Citigroup partners with @Coinbase to enable corporate clients to accept stablecoin payments, with Citi handling final settlements and automatic conversions to fiat currency. #Update #Crypto $USDC