The UAE has officially entered the regulated stablecoin race, where the private firm, Universal Digital Intl Limited, launched the first U.S. dollar-pegged token, registered by the Central Bank of the UAE, on January 29, aimed at enabling compliant digital-asset settlement under the country’s new payment token framework. USDU, Backed by
The Belgian based technology company NGRAVE, known for being the only cold wallet solution in the world featuring EAL7-designed security, has completed a strategic restructuring. A group of long-term investors – including the Lydian Group, founded by the creators of Mangrove Capital – acquired the company’s core assets, with the
MEXC, a leading global cryptocurrency exchange, has listed StablR USD (USDR), a MiCAR compliant US Dollar-backed stablecoin. To celebrate this milestone, MEXC will launch a special event offering users the opportunity to share a total prize pool of 85,000 USDT. About StablR USD (USDR) StablR USD (USDR) is a MiCAR
In a strategic decision toward modernizing its monetary system, the Bank of Korea (BOK) announced it is exploring the use of public blockchains to power its upcoming deposit tokens. The move, revealed by Deputy Governor Lee Jong-ryeol at the Blockchain Leaders Club in Seoul, signals a rare alignment between central
Major organizations across the world are eyeing Bitcoin to maintain their reserves, mitigating the risks associated with fiat currency reserves. While this strategy was originally adopted by Microstrategy years back, global firms and governments are onboarding this year. The latest to join the Bitcoin reserve strategy club is Canadian firm
The much-awaited Grand Finale of the FinTech World Cup (FWC) hosted by Trescon in partnership with Dubai FinTech Summit (DFS), VISA, Emirates NBD & Amazon Web Services (AWS), witnessed committed investments totalling worth over USD 9,250,000 (9.25 million) by various investors. In an intense showdown, 15 qualified start-ups from around
Binance US, the American arm of the world-renowned crypto exchange Binance, has announced a strategic partnership with payment startup MoonPay in an attempt to reestablish a seamless flow of USD transactions into the crypto market. The move comes as Binance US grapples with a series of legal and financial obstacles
The upcoming FinTech Festival Asia (FTF) 2023 is a major event that will uncover the dynamic landscape of the fintech industry and examine current trends. Scheduled to take place on 27th and 28th September 2023 at the prestigious Royal Paragon Hall in Bangkok, Thailand, this event aims to showcase the
Binance.US, one of the leading cryptocurrency exchanges in the United States, has recently announced the suspension of USD deposits and issued a warning regarding an upcoming withdrawal pause. The decision comes as Binance.US aims to safeguard its customers and the platform from what it describes as “extremely aggressive and intimidating
While it is true that BRICS countries have expressed their desire to reduce the dominance of the US dollar in international trade and finance, it would be an exaggeration to say that they are “racing” to achieve this goal. The BRICS countries have been exploring alternatives to the US dollar
