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Circle Announces Payments Network to Transform Global Money Movement
Circle Announces Payments Network to Transform Global Money Movement
Circle will be launching the Circle Payments Network (CPN) to connect financial institutions to enable real-time settlement of cross-border payments using regulated stablecoins. CPN will require participants to meet strict eligibility standards, including licensing, AML/CFT compliance, financial risk management, and cybersecurity protocols. By leveraging USDC, EURC, and other regulated stablecoins, CPN will enable seamless connectivity to domestic real-time payment systems worldwide, while upholding the compliance, security, and trust required for financial institutions to meet their regulatory obligations. Powered by smart contract infrastructure and modular APIs, the network will enable third-party developers to build advanced modules, app services, and automated financial workflows directly on top of CPN.
#CrossBorder#CryptoAssets#Fintech#Stablecoins#Payments#USDC#Circle#DFC
·circle.com·
Circle Announces Payments Network to Transform Global Money Movement
Some Perspectives on the Regulation of Stablecoins
Some Perspectives on the Regulation of Stablecoins
The BIS's Jon Frost co-authored a paper that explores the emerging regulatory landscape for stablecoins. It outlines their rapid growth and potential systemic risks they pose, especially as they become more integrated into payment systems and financial markets. The paper advocates for a balanced regulatory approach that ensures financial stability, consumer protection, and innovation. It examines existing regulatory frameworks, including banking, securities, and payments laws, and suggest that a tailored regulatory regime may be necessary to effectively oversee stablecoin issuers and related service providers. The paper also highlights international efforts and the importance of global coordination in regulating stablecoins.
#CryptoAssets#Regulation#Stablecoins#Fintech#DFC#BIS
·scholarship.law.duke.edu·
Some Perspectives on the Regulation of Stablecoins
On the Coexistence of Stablecoins and Central Bank Digital Currencies
On the Coexistence of Stablecoins and Central Bank Digital Currencies
Our exploration into the coexistence of stablecoins and CBDCs reveals a complex and evolving landscape of technological innovation in the payment and financial sectors. We underscore the need for a nuanced understanding of both private and public digital money, highlighting their distinct roles, potential benefits, and inherent risks within the global financial ecosystem. While stablecoins offer innovative solutions and contribute to diversification within the financial and payment sectors, their regulatory challenges and risk factors necessitate careful oversight. Conversely, the emergence of CBDCs represents a significant step by central banks in modernizing monetary systems and potentially enhancing financial inclusion, but these developments raise their own sets of challenges and risks.
#CBDC#Stablecoins#Fintech#DFC
·papers.ssrn.com·
On the Coexistence of Stablecoins and Central Bank Digital Currencies
Ripple Acquires Prime Broker Hidden Road
Ripple Acquires Prime Broker Hidden Road
Ripple is acquiring prime broker Hidden Road for $1.25 billion. With the acquisition, Ripple becomes the first crypto company to own and operate a global, multi-asset prime broker. Hidden Road offers institutions a one-stop-shop of advanced services including clearing, prime brokerage, and financing across foreign exchange (FX), digital assets, derivatives, swaps, and fixed income. The acquisition will make Ripple's RLUSD the first stablecoin to enable efficient cross-margining between the digital asset space and traditional markets, and increase XRP Ledger usage.
#CryptoAssets#Fintech#Ripple#RLUSD#DFC#Stablecoins
·ripple.com·
Ripple Acquires Prime Broker Hidden Road
Certain stablecoins aren't securities, SEC says in new guidance
Certain stablecoins aren't securities, SEC says in new guidance
The U.S. Securities and Exchange Commission published a notice that deems that "covered stablecoins" are considered "non-securities" and exempt from the agency's transaction reporting requirements. Covered stablecoins are those that don't offer holders the right to receive any interest, profit, or other returns, don't reflect any investment or other ownership interest in the stablecoin issuer or any other third party, don't afford holders any governance rights with respect to the issuer or stablecoin, and/or don't provide holders with any financial benefit or loss based on the issuer or any third party’s financial performance. The SEC's criteria for covered stablecoins are consistent with regulations stipulated in the Senate's GENIUS stablecoin bill, and the House of Representatives' Stable Act of 2025. https://www.sec.gov/newsroom/speeches-statements/statement-stablecoins-040425
#Stablecoins#Regulation#UnitedStates#CryptoAssets#Fintech#DFC
·cointelegraph.com·
Certain stablecoins aren't securities, SEC says in new guidance
Binance-Backed FDUSD Stablecoin Loses Dollar Peg Following Justin Sun Accusations
Binance-Backed FDUSD Stablecoin Loses Dollar Peg Following Justin Sun Accusations
The First Digital USD (FDUSD) stablecoin lost its U.S. dollar peg after Tron founder Justin Sun claimed that its issuer, First Digital Trust, is effectively insolvent. First Digital Trust denied the allegation, saying that its stablecoin is backed one-to-one with U.S. Treasuries. FDUSD, which is prominently used by Binance after it dropped support for its own BUSD USD stablecoin in 2023, plunged as low as $0.95 in the wake of the allegations. Despite its small market capitalization (about $2.5 billion), it's trading volume is second only to Tether (market cap of about $144 billion) and ahead of USDC ($60 billion).
#CryptoAssets#Fintech#Stablecoins#Binance#DFC#FDUSD
·decrypt.co·
Binance-Backed FDUSD Stablecoin Loses Dollar Peg Following Justin Sun Accusations
Ripple integrates RLUSD into Ripple Payments
Ripple integrates RLUSD into Ripple Payments
Ripple has integrated its enterprise-grade Ripple USD (RLUSD) USD-denominated stablecoin into its Ripple Payments cross-border payments solution. RLUSD allows enterprises to facilitate instant settlement of cross-border payments, access liquidity for remittance and treasury operations, integrate with decentralized finance (DeFi) protocols, bridge between traditional fiat currencies and the crypto ecosystem, and provide collateralization for trading tokenized real-world assets on-chain. Since launching in December 2024, RLUSD is nearing $250 million in market capitalization and $10 billion in trading.
#CryptoAssets#Fintech#RLUSD#Ripple#Stablecoins#DFC
·ripple.com·
Ripple integrates RLUSD into Ripple Payments
Can Stablecoins Reshape Global Finance?
Can Stablecoins Reshape Global Finance?
Stablecoin circulation has exceeded $215 billion globally as of Q1 2025, with on-chain transaction volume hitting $5.6 trillion in 2024—equivalent to 40% of Visa’s payments volume. Tether (USDT) and USD Coin (USDC) remain the giants – with ~$140B and ~$55B circulating respectively – but their combined ~90% share in 2024 is slowly diluting as new issuers emerge. Notably, PayPal USD (PYUSD) launched in late 2023, FDUSD (First Digital USD) out of Hong Kong, Agora’s AUSD,Ethena’s USDe, and others like TrueUSD (TUSD) and DAI collectively make up the remaining ~10%. By 2030, stablecoins are expected to be integral to global finance, especially in cross-border payments, B2B transactions, and digital asset settlement.
#CryptoAssets#Fintech#Stablecoins#DFC
·insights4vc.substack.com·
Can Stablecoins Reshape Global Finance?
Stablecoin Update Mar 2025
Stablecoin Update Mar 2025
Stablecoin supply continues to hit all time highs of $230 billion, up 68% Y/Y. Supply continues to increase despite the overall crypto market cap being down YTD. Q1 2025 was a record for stablecoin launches and was the first time 100 stablecoins have over $10mn in supply. Majority of stablecoins launched are crypto or fiat backed as DeFi shifts away from algorithmic backed stablecoins.
#Stablecoins#CryptoAssets#Fintech#DFC
·docs.google.com·
Stablecoin Update Mar 2025
Interoperability of Blockchain Systems and the Future of Payments
Interoperability of Blockchain Systems and the Future of Payments
The New York Fed published research that provides empirical evidence of limited interoperability in crypto-asset markets. It examined the price relation between native and bridged USDC and USDT stablecoins on multiple blockchains and bridges. Stablecoins are good candidates for studying interoperability because they are nonspeculative by design (each is intended to represent $1), and in principle, a bridged representation of an asset represents value that is identical to the original asset. A higher degree of interoperability in blockchain systems would allow traders to compress any divergence in prices between stablecoins and their bridged representations and push the correlation between the prices of two stablecoins closer to one. However, it found surprisingly high price variation across all of them, suggesting limited interoperability.
#Fintech#CryptoAssets#Stablecoins#Interoperability#DFC
·libertystreeteconomics.newyorkfed.org·
Interoperability of Blockchain Systems and the Future of Payments
Wyoming Governor Expects State to Issue Its Own Stablecoin by July
Wyoming Governor Expects State to Issue Its Own Stablecoin by July
Wyoming plans launch its own U.S. dollar-backed stablecoin as soon as July 2025. The WYST token will be fully backed by US Treasuries, cash and repurchase agreements, and maintain a statutory requirement of no less than 102% capitalization. The income generated through interest income on the reserve assets will be used to fund education and infrastructure. They have been tested on Avalanche, Solana, Ethereum, Arbitrum, Optimism, Polygon, and Base testnets. in collaboration with token issuance partner LayerZero. https://content.govdelivery.com/accounts/WYGOV/bulletins/3d8d97a
#CryptoAssets#Fintech#Stablecoins#UnitedStates#Wyoming#DFC
·bloomberg.com·
Wyoming Governor Expects State to Issue Its Own Stablecoin by July
Senate Banking panel advances stablecoin bill
Senate Banking panel advances stablecoin bill
On 13 March, 2025, the U.S. Senate Committee on Banking, Housing, and Urban Affairs voted to advance the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. In his opening remarks, Chairman Tim Scott (R-S.C.) said that the Act establishes common-sense rules that require stablecoin issuers to maintain reserves backed 1:1, comply with anti-money laundering laws, and ultimately protect American consumers while promoting the U.S. dollar’s strength in the global economy. Five Democrats on the panel — Sens. Mark Warner (Va.), Andy Kim (N.J.), Ruben Gallego (Ariz.), Lisa Blunt Rochester (Del.) and Angela Alsobrooks (Md.) — joined their Republican colleagues in voting to advance Sen. Bill Hagerty’s (R-Tenn.) stablecoin bill. The bill now heads to the Senate floor for consideration.https://www.banking.senate.gov/newsroom/majority/scott-advances-stablecoin-debanking-legislation-out-of-banking-committee
#Regulation#Stablecoins#Fintech#UnitedStates#CryptoAssets#DFC
·msn.com·
Senate Banking panel advances stablecoin bill
The GENIUS Act: Insolvency Risk with Stablecoins
The GENIUS Act: Insolvency Risk with Stablecoins
The GENIUS Act tries to mitigate credit risk on stablecoins by declaring their property of the investor vis-a-vis custodians, and prioritizing the investors' claims vis-a-vis creditors of the issuer. But neither is really a fix, and the truth is that absent a government guaranty, there's no way around this problem. No matter how much stablecoins are prioritized in bankruptcy, bankruptcy is a slow process, and time is money. And there are limits to how far stablecoins can be prioritized in bankruptcy without rendering the bankruptcy system unworkable. (Making stablecoins the property of the investors is no help in an issuer bankruptcy because all the investor gets is a digital token that is worthless without the redemption right, and that's just a bankruptcy claim; this is different than in the custodian bankruptcy scenario.) The only real way to ensure 100% timely repayment is a government backstop, but that's not something the industry wants (because it goes with regulation). (Adam Levitin)
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#CryptoAssets#Stablecoins#Regulation#UnitedStates#Fintech#DFC
·creditslips.org·
The GENIUS Act: Insolvency Risk with Stablecoins
Reflections on a maturing stablecoin market
Reflections on a maturing stablecoin market
U.S. Federal Reserve Board (FRB) Governor Christopher J. Waller spoke about the maturing stablecoin market and the potential challenges that could impede it from reaching its full potential. Stablecoins must demonstrate not only clear use cases, but also a clear commercial case to be economically viable. Plus, the public sector needs to set clear and targeted legal and regulatory frameworks and coordinate those frameworks across states and national boundaries to enable private sector innovation at a global scale.
#Stablecoins#Regulation#UnitedStates#CryptoAssets#Fintech#DFC
·federalreserve.gov·
Reflections on a maturing stablecoin market
Figure launches SEC regulated, yield bearing stablecoin
Figure launches SEC regulated, yield bearing stablecoin
Figure Markets has launched YLDS, a public blockchain-based interest-bearing stablecoin that is reportedly registered as a public security with the U.S. Securities and Exchange Commission (SEC). YLDS accrues interest daily based on the U.S. Federal Reserve's Secured Overnight Financing Rate (SOFR) minus 0.50% with a 0.00% minimum, and pays monthly in USD or YLDS. YLDS is backed by the same securities that prime money market funds hold, which are riskier than securities that money market funds hold, because ‘Prime’ means including private assets such as asset backed securities, not just government securities. Also, YLDS’ assets are not ringfenced: “Figure Certificates are unsecured and solely backed by the assets of Figure Certificate Company (FCC), who is the issuer of the Certificates”.
#CryptoAssets#Fintech#Regulation#Stablecoins#UnitedStates#DFC
·ledgerinsights.com·
Figure launches SEC regulated, yield bearing stablecoin
Figure launches yield-bearing SEC-registered stablecoin
Figure launches yield-bearing SEC-registered stablecoin
Figure Markets has launched YLDS, a public blockchain-based interest-bearing stablecoin that is reportedly registered as a public security with the U.S. Securities and Exchange Commission (SEC). YLDS accrues interest daily based on the U.S. Federal Reserve’s Secured Overnight Financing Rate (SOFR) minus 0.50% with a 0.00% minimum, and pays monthly in USD or YLDS. Holders can buy/sell YLDS using USD and other stablecoins 24x7 on Figure Markets, and can off-ramp to fiat during US banking hours. YLDS can be transferred peer-to-peer on the Provenance Blockchain. YLDS is backed by the same securities that prime money market funds hold. https://www.newyorkfed.org/markets/reference-rates/sofr https://www.figuremarkets.com/c/ylds https://www.investopedia.com/articles/mutualfund/10/a-safer-money-market-2a7.asp
#Fintech#CryptoAssets#Stablecoins#Regulation#UnitedStates#DFC
·prnewswire.com·
Figure launches yield-bearing SEC-registered stablecoin
Former CFTC chair Massad critiques House stablecoin legislation
Former CFTC chair Massad critiques House stablecoin legislation
Timothy Massad, former Chair of the Commodities and Futures Commission (CFTC), has provided a detailed critique of the STABLE Act, the U.S. House of Representative's stablecoin bill. (The Senate also has the GENIUS Act Bill which is somewhat similar.) https://docs.house.gov/meetings/BA/BA21/20250211/117872/HHRG-119-BA21-Wstate-MassadT-20250211.pdf
#Fintech#CryptoAssets#Stablecoins#UnitedStates#Regulation#DFC
·ledgerinsights.com·
Former CFTC chair Massad critiques House stablecoin legislation
CFTC Announces Crypto CEO Forum to Launch Digital Asset Markets Pilot
CFTC Announces Crypto CEO Forum to Launch Digital Asset Markets Pilot
The Commodity Futures Trading Commission will hold a CEO Forum of industry-leading firms to discuss the launch of the CFTC’s digital asset markets pilot program for tokenized non-cash collateral such as stablecoins. Participants will include Circle, Coinbase, Crypto.com, MoonPay and Ripple. Further information on the CEO Forum will be released once details are finalized.
#CryptoAssets#Regulation#Fintech#Tokenization#Stablecoins#UnitedStates#DFC
·cftc.gov·
CFTC Announces Crypto CEO Forum to Launch Digital Asset Markets Pilot
House publishes draft Stablecoin Bill - comparison with Senate GENIUS Bill
House publishes draft Stablecoin Bill - comparison with Senate GENIUS Bill
A discussion draft of the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Bill was tabled in the U.S. House of Representatives by French Hill and Bryan Steil. It is substantially similar to the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Bill published by the Senate earlier in the week. For example, GENIUS Bill requires that stablecoins with more than $10 billion outstanding be federally regulated, unless the relevant state framework is substantially similar to the federal one, but the STABLE Bill allows large stablecoins to remain state regulated. https://files.constantcontact.com/9f2b5e3d701/6c1f8aa0-095c-4a22-9982-2f4380d0b531.pdf
#CryptoAssets#Fintech#Regulation#Stablecoins#UnitedStates#DFC
·ledgerinsights.com·
House publishes draft Stablecoin Bill - comparison with Senate GENIUS Bill
GENIUS stablecoin Bill allows for State regulation, but limits race to bottom
GENIUS stablecoin Bill allows for State regulation, but limits race to bottom
U.S. Senator Hagerty introduced the Bill for the U.S. Stablecoins (GENIUS) Act, in collaboration with co-sponsor Senators Tim Scott, Kirsten Gillibrand (Democrat) and Cynthia Lummis, aimed at regulating stablecoins by establishing clear issuance procedures and designating federal and state regulators based on the issuer's size. For example, the Bill allows state regulators to supervise payment stablecoins of under $10 billion. Reserve requirements would limit the type of backing collateral to commercial bank deposits, short-term Treasuries, repo and reverse repo involving short-term Treasuries, similar money market funds and central bank reserve deposits. https://www.hagerty.senate.gov/wp-content/uploads/2025/02/GENIUS-Act.pdf
#CryptoAssets#Fintech#Regulation#Stablecoins#DFC
·ledgerinsights.com·
GENIUS stablecoin Bill allows for State regulation, but limits race to bottom
Leverage and Stablecoin Pegs
Leverage and Stablecoin Pegs
The Journal of Financial and Quantitative Analysis will be publishing a paper by Gary Gorton and others on how stablecoins can maintain a constant price even though they face run risk and pay no interest. Stablecoin holders are compensated for stablecoin run risk because they can lend the coins to levered traders. Levered traders are willing to pay a premium to borrow stablecoins when speculative demand is strong. However, when speculative demand falls, stablecoin issuers can keep their debt trading at par only by moving to a safer portfolio or allowing redemptions. Stablecoin issuers will need to make these adjustments quickly to avoid the risk of collapse, which may cause disruptions in the markets they invest in, such as Treasuries, commercial paper, and repos. [Read more at SSRN]
#CryptoAssets#Fintech#Stablecoins#FinancialStability#DFC
·papers.ssrn.com·
Leverage and Stablecoin Pegs
Digital money and finance: a critical review of terminology
Digital money and finance: a critical review of terminology
By reviewing terminologies, this SUERF policy brief by Ulrich Bindseil and colleagues clarifies the essence of new technologies in the field of payments to facilitate ongoing discussions about their eventual merits and use cases. This is a shortened version of the following paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5007868
#CBDC#CryptoAssets#ECB#Fintech#Stablecoins#Taxonomy#Tokenization#SmartContracts#DFC
·suerf.org·
Digital money and finance: a critical review of terminology
Thai government plans Baht stablecoin backed by gov bonds
Thai government plans Baht stablecoin backed by gov bonds
Thailand’s Ministry of Finance reportedly plans to issue 10 billion baht stablecoins backed by government bonds, initially newly issued ones, in October, 2025. However, it isn't clear whether these will be baht-pegged, or float with the value of the underlying bonds. If it is the latter, this is more like a tokenized bond, rather than a digital currency, scheme. From the press reports, it sounds more like the former, as the Minister of Finance reportedly spoke of them allowing a wider range of individuals to invest, and not just financial institutions or large investors. Also, he said that a central platform for secondary market trading is also being developed to facilitate easier buying and selling of the stablecoin, increasing market liquidity. https://www.nationthailand.com/business/economy/40045739
#Fintech#CBDC#Thailand#Tokenization#GovCoins#Stablecoins#DFC
·ledgerinsights.com·
Thai government plans Baht stablecoin backed by gov bonds
Money that machines trust
Money that machines trust
Just as the invention of APIs enabled software by allowing systems to communicate and operate autonomously, stablecoins are becoming the financial APIs of artificial intelligence. APIs enable software to seamlessly exchange data and execute tasks without human intervention. Similarly, stablecoins provide the liquidity, programmability and efficiency AI agents need to exchange value and execute transactions in a fully autonomous world. Stablecoins like USDC bring instant, secure and programmable money into the workflows of AI systems. Autonomous agents, operating on behalf of individuals or businesses, rely on fast and efficient monetary systems to optimize their performance. Together, AI and stablecoins are creating a foundation for “self-driving economies,” where value moves as seamlessly as data does today.
#AI#Fintech#CryptoAssets#Stablecoins#DFC
·cointelegraph.com·
Money that machines trust
Stablecoins in cross-border remittances and the role of digital and financial literacy
Stablecoins in cross-border remittances and the role of digital and financial literacy
Telematics and Informatics (TAI) published a paper on the adoption and continuance intentions of blockchain-based stablecoins for cross-border remittances. Relying on survey data from 866 U.S.-based adults engaged in remittance activities, its findings reveal that digital and financial literacy independently increase the likelihood of stablecoin adoption, while their interaction synergistically enhances predictive accuracy. Demographic analysis indicates that stablecoin remittance users tend to be younger, more educated, and involved in higher-value transactions. Among the 26% of remittance users who adopted stablecoins, continuance intentions are primarily driven by satisfaction and perceived usefulness. This points to a cyclical dynamic, where meeting user expectations leads to greater satisfaction, which in turn reinforces the perceived usefulness of stablecoins. The results underscore the importance of promoting both digital and financial literacy, improving user experience, and effectively communicating tangible benefits to encourage the continued adoption of stablecoins for remittance transactions.
#CrossBorder#CryptoAssets#Stablecoins#Remittances#Fintech#DFC
·sciencedirect.com·
Stablecoins in cross-border remittances and the role of digital and financial literacy
Stablecoins 101: Behind crypto’s most popular asset
Stablecoins 101: Behind crypto’s most popular asset
Globally, stablecoins are gaining momentum as both a medium of exchange and a store of value, addressing gaps left by traditional currencies — particularly in regions with monetary instability and/or limited access to the U.S. dollar (USD). Businesses, financial institutions (FIs), and individuals are leveraging stablecoins for use cases ranging from international payments, to liquidity management, to protection against currency fluctuations. The ability to facilitate swifter, more cost-effective transactions compared to those of traditional financial systems has accelerated the adoption of stablecoins across the world.
#Chainalysis#CryptoAssets#Stablecoins#Fintech#DFC
·chainalysis.com·
Stablecoins 101: Behind crypto’s most popular asset
David Birch on the Year of the Stablecoin
David Birch on the Year of the Stablecoin
Stablecoins are of vital importance to next-generation financial services because they provide genuine competition to the payment systems of today, even in the US where the otherwise innovative financial system lags much of the world. American payment cards and banking apps work fine and give a safe and reliable service to customers, but the system is slow and expensive with costs rather unevenly distributed towards the less well off (who pay a lot to use what little money they have). More competition would be good for everyone.
#Fintech#Stablecoins#CryptoAssets#DFC
·dgwbirch.substack.com·
David Birch on the Year of the Stablecoin
Here a Coin, There a Coin, Everywhere a Stablecoin
Here a Coin, There a Coin, Everywhere a Stablecoin
The Federal Reserve Bank of Atlanta published an article on the growing use of stablecoins. It points to retailers like Overstock, Chipotle, Whole Foods, and GameStop now accepting them, Stripe enabling merchants to accept USD Coin (USDC). Regal Cinemas offering a 10% discount on tickets and concessions for USDC payments, and Travala letting users book travel services with USDC or USDT. Benefits to merchants include reduced transaction fees, immediate settlement, and attracting crypto-savvy customers. However, the article points to concerns over the stability of the assets backing them, regulatory uncertainty, and security vulnerabilities like cyberattacks, and stablecoins used in decentralized finance platforms facing risks such as smart contract failures and liquidity issues.
#CryptoAssets#Fintech#Stablecoins#UnitedStates#DFC
·atlantafed.org·
Here a Coin, There a Coin, Everywhere a Stablecoin
Taiwan FSC proposes law allowing banks to issue stablecoin
Taiwan FSC proposes law allowing banks to issue stablecoin
The Taiwan Financial Supervisory Commission reportedly wants to introduce a draft law that would allow banks to issue their own stablecoins that will be jointly managed by the Taiwan central bank. "Chairman of the Taiwan FSC, Peng Jinlong, stated that stablecoins will be used as a bridge that connects the gap between fiat currencies and cryptocurrencies, making it easier for investors to access the crypto trading market. In the case of Taiwan, stablecoins issued by local banks will be pegged to the new Taiwan dollar instead of the U.S. dollar." https://money.udn.com/money/story/5613/8508618
#CryptoAssets#Fintech#Stablecoins#Taiwan#Regulation#DFC
·crypto.news·
Taiwan FSC proposes law allowing banks to issue stablecoin
Circle buys largest tokenized MMF issuer, Hashnote
Circle buys largest tokenized MMF issuer, Hashnote
USDC stablecoin issuer Circle has acquired Hashnote, the issuer of the largest tokenized money market fund (TMMF), USYC. Circle intends to fully integrate USYC with USDC, offering seamless 24/7/365 access between TMMF collateral and USDC. The deal is bolstered by a strategic partnership with institutional crypto trader DRW via its subsidiary Cumberland, which incubated Hashnote. Cumberland will expand its institutional-grade liquidity and settlement capabilities in USDC and USYC, where permitted. https://www.circle.com/pressroom/circle-announces-acquisition-of-hashnote-and-usyc-tokenized-money-market-fund-alongside-strategic-partnership-with-global-trading-firm-drw
#Circle#Fintech#Stablecoins#USDC#Tokenization#CryptoAssets#MMFs#DFC
·ledgerinsights.com·
Circle buys largest tokenized MMF issuer, Hashnote