Swiss watchdog @FINMA mandates identity verification for stablecoin holders from July 26. Issuers must verify token holders and beneficial owners, with banking licenses required for public deposits. Protections also include depositor claims in issuer bankruptcy. #CryptoRegulation
WSPN partners with @CanzaFinance to bring blockchain financial services to Africa. Using $WUSD stablecoin, they aim to boost financial inclusion by converting local currencies for remittances and savings. Canza’s Baki platform maintains 1:1 parity with central bank rates, combating currency devaluation. #Finance #Blockchain
Tether minted $1B in new $USDT tokens on Tron without fees, pushing the stablecoin market cap over $160B. This move signals rising demand and confidence in stablecoins. #Update #CryptoNews
Chinese e-commerce giant @JD_Central to launch Hong Kong dollar stablecoin, JD Stablecoin, via subsidiary JD Coinlink. Pegged 1:1 to HKD, backed by liquid assets. #Fintech #CryptoNews
The Terra Classic community has asked @eToro and Terraform Labs CEO Chris Amani for clarity on $LUNC delisting amid trading difficulties linked to Terraform Labs’ bankruptcy. Despite concerns, $LUNC and $USTC prices rose 2% and 5% respectively in the last 24 hours. #Update
JDCom is launching JD Stablecoin, a new stablecoin pegged 1:1 to the Hong Kong dollar, via subsidiary JD Coinlink. Backed by liquid assets and regulated under HKMA’s sandbox, this move could impact digital payments and cross-border transactions. #Update #Fintech #JDCom
State Street Corporation is planning to launch a stablecoin and deposit token to boost blockchain payment settlements, enhancing cross-border payment speed and efficiency. #Blockchain #Finance
The Terra Luna Classic community passed a major upgrade proposal v3.1.3 with 99.99% support. Key changes include adjusting Oracle Split logic, preventing memory leaks, and setting a 0.5% burn tax. Validators must update post-chain halt. $LUNC saw a 42% rally, reflecting increased trader interest. #Update
Tether CEO Paolo Ardoino calls for more investment in decentralized tech after a global IT outage on July 19. The disruption, caused by a technical issue with CrowdStrike’s software, highlights the need for resilient technologies. $USDT @Tether_to #Decentralization
Criminals are increasingly using Tether ($USDT), with over $11B in illicit funds flowing through cybercrime platforms like Huione Guarantee. The blockchain’s transparency helps monitor illegal USDT flows. Addressing this is crucial for crypto market integrity. #Update
Terra Luna Classic developers, including StrathCole and Genuine Labs, have finalized the tax distribution upgrade. Set for a chain halt at block height 19108180 on July 29, it aims to slow Oracle Pool depletion. $LUNC surged 27%, $USTC up 28%. #Update #CryptoNews
Bybit reports a 17.8% increase in USDT holdings, a 400% surge in USDC deposits, and a decrease in DAI by 33%. Meanwhile, $BTC and $ETH show modest gains of 5.62% and 0.46%. #Update #CryptoNews
Hong Kong’s ZA Bank now offers reserve banking services to stablecoin issuers under HKMA’s stablecoin sandbox. This includes notable participants like JD.com’s JINGDONG Coinlink and a consortium with Standard Chartered and Animoca Brands. #Update #Stablecoins
Hong Kong’s Monetary Authority unveils stablecoin sandbox participants, including Standard Chartered and Animoca Brands, to foster responsible stablecoin development. The sandbox, launched in March 2024, ensures a risk-controllable framework without handling public funds initially. This aligns with international standards for financial stability. #Update #stablecoin #HKMA
