Monad Foundation takes over stablecoin infrastructure project Portal.
Monad Foundation Acquires Portal The Monad Foundation has taken over Portal, a company focused on Stablecoin infrastructure. I had a chance to talk with the team about this development. While Portal will still function independently, it will utilize Monad’s technology to enhance its services. Raj Parekh, the founder of Portal, will transition to the role […]
BNY Mellon will manage Ripple’s new stablecoin as interest in cryptocurrency among institutions grows.
BNY Mellon Partners with Ripple for Stablecoin Reserves In an announcement made on Wednesday, BNY Mellon stated that it will be the primary custodian of Ripple’s USD-backed Stablecoin reserves. This collaboration aims to enhance regulatory compliance with Ripple USD (RLUSD), particularly to boost institutional confidence in both the company and the burgeoning Stablecoin sector. BNY […]
Amundi cautions that US stablecoin regulations might disrupt the global payments system.
Concerns About Dollarization Impact on Global Finance In London, Europe’s largest asset manager is raising alarms regarding the surge in dollar support, which is linked to the recently passed US Genius Act. This law has the potential to result in significant changes in financial flows, possibly shaking up the global payment system. Last month, the […]
New Stablecoin Regulations in Hong Kong Could Challenge US Dollar Control and Discourage Major Competitors
Simply put The upcoming regulations will be implemented in August, necessitating a Stablecoin issuer license to operate in the city. Treasury Secretary Paul Chang has raised concerns that stubcoins might undermine local currency and trade. Analysts suggest that high capital and reserve requirements could impede global players like Circle and Tether from entering the market. […]
Coinbase Stocks Reach First High Since 2021 Due to Stablecoin Excitement
Coinbase Shares Reach All-Time High Amid Crypto Resurgence Coinbase Global Inc. saw its shares close at an all-time high recently, bolstered by the growing acceptance of cryptocurrency within both Wall Street and Washington. On Thursday, the company’s stock rose 5.5%, ending at $375.07. This surpassed its previous peak of $357.39 recorded in November 2021, happening […]
Palmer Luckey’s new cryptocurrency bank will be linked to a stablecoin.
Palmer Luckey Launches New Digital Bank Elebor Billionaire Palmer Luckey is diving into the financial industry with a new venture aimed at empowering technology entrepreneurs. The venture, named Elebor, marks another addition to his growing portfolio. The name Elebor appears to draw inspiration from J.R.R. Tolkien’s works. Similar to Anduril, a sword from the lore, […]
Palau Completes Audit of XRP Ledger Stablecoin: Details on Ripple’s Payment
The Public Audit Agency of Palau (OPA) has published a performance audit of the government’s pilot project for an XRP-LEDGER-based Stablecoin, confirming that Ripple Services Inc. supported the initiative with a $25,000 grant. More than half of this amount has been utilized. The 12-page report details the financials of the Palau Stablecoin (PSC) project, which […]
Altcoin Sei Rises 47% After Wyoming Stablecoin Nomination
SEI Altcoin Sees Remarkable Surge The altcoin SEI has emerged as a standout performer among cryptocurrencies today, experiencing a significant jump of 46.5% in just the last 24 hours, trading at around $0.2855, according to Coingecko. This upward trend is a continuation of the momentum that began earlier in the week, with SEI boasting an […]
As Stablecoin Legislation Moves to the House, Senate Focuses on Market Structure
Senate Discusses Future of Digital Asset Regulations About a week after the US Senate approved the Genius Act aimed at managing payment stability, discussions are underway regarding the framework for the digital asset market structure. On Tuesday, members of the Senate Banking Committee’s Digital Assets Subcommittee listened to insights from legal representatives of Coinbase and […]
Katie Haun’s battle for digital dollars as a stablecoin supporter
Haun’s Journey and the Rise of Stablecoins Back in 2018, when Bitcoin was hovering around $4,000 and many Americans viewed cryptocurrency as just a passing fad, Katie Haun found herself on stage in Mexico City. She was debating with Paul Krugman, a Nobel laureate who dismissed digital assets as almost trivial. While Krugman highlighted the […]