Stablecoins are finding a mainstream way in the Asian region at a time when cryptocurrencies are going through volatility. Stablecoins are being integrated more into the payment system in comparison to other cryptocurrencies. This is for several reasons, but the one that tops the list is price fluctuation. India continues
US Treasury Secretary Scott Bessent told lawmakers that the gap between traditional banking and crypto may shrink over time. Speaking before the Senate Banking Committee, he said banks and crypto firms could eventually offer similar financial products as digital assets become more integrated into the financial system. Bessent made the
Singapore Gulf Bank has launched a managed fiat-to-stablecoin interoperability solution, which improves connectivity between the traditional banking infrastructure and blockchain technology. The bank wants to facilitate the transfer of value between the regulated fiat system and digital assets. Analysts associated the news with the regulation of stablecoins and the adoption
Circle is doubling down on USDC as a building block of crypto finance infrastructure for businesses. Rather than promoting USDC solely as a trading stablecoin, Circle is now positioning it as digital dollar infrastructure for global payments, settlements, and treasuries. This approach is consistent with the trend observed in the
Binance has rolled out a new incentive campaign aimed at boosting stablecoin engagement, announcing a $40 million WLFI airdrop program for users who hold USD1 on the exchange. The campaign will run for four weeks and reward eligible participants through weekly WLFI token distributions. The exchange confirmed that users who
Tensions have escalated between the Trump Administration and the Coinbase exchange because the platform suddenly pulled its support for the Digital Asset Market Clarity Act, and rumors have been spreading that the Trump White House is pulling the plug on the bill. Fox Business reporter Eleanor Terrett said in a
The US Senate Agriculture Committee has deferred the date of their much-awaited markup on the big cryptocurrency market structure legislation to the last week of January as lawmakers rush to secure bipartisan support on bills affecting the regulation of cryptocurrencies in the US. Committee on Appropriations Chairman John Boozman stated
Origin of Stablecoins Stablecoins made their debut in 2014. It aims to combine the steady value of fiat currencies with the openness and flexibility of blockchain technology. The first of its kind, BitUSD, was introduced in July 2014 as a credit-backed stablecoin on the BitShares platform. Tether (USDT), which was
Hong Kong has officially passed the Stablecoins Bill, marking a significant step forward in the regulation of digital assets. The legislation mandates that any company issuing fiat-backed stablecoins, particularly those pegged to the Hong Kong dollar or operating within Hong Kong’s jurisdiction, must now obtain a license from the Hong
Three years on from its Diem experiment crashing, Meta is returning to the crypto sphere this time with a measured and adoption-based approach. Rather than launching its own digital token, Meta is exploring stablecoins such as USDC and USDT to reward content creators on its platforms, including Facebook, Instagram, and
