NEAR Protocol partners with Everclear to transform cross-chain stablecoin settlement

The NEAR Foundation has confirmed a strategic alliance aimed at redefining how individuals exchange stablecoins and top digital assets across blockchains. The platform is joining forces with Everclear, a recognized protocol for cross-chain settlements.

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JD.com’s global stablecoin push aims to shave days off cross-border payments

With a push for stablecoin licenses worldwide, JD.com Chairman Liu Qiangdong wants fiat-pegged tokens to do what banks can’t: settle in seconds. His vision calls for 10-second settlements across continents, anchored in licensed stablecoins and JD’s own e-commerce empire. Technology-driven…

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TRON leads stablecoin settlements again: But why is THIS group exiting?

Tron’s USDT dominance grows as new wallets rise and whales increase accumulation. Bullish Futures bias and steady DeFi TVL reinforce TRX’s upward momentum despite minor dips Tron [TRX] cThe post TRON leads stablecoin settlements again: But why is THIS group exiting? appeared first on AMBCrypto.

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Circle launches Circle Payments Network for real-time stablecoin payments

Circle has officially launched the mainnet for its Circle Payments Network. The CPN will be a new blockchain-based system designed to facilitate real-time cross-border payments and settlements using its stablecoin, USDC (USDC).

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Major Japanese banks back stablecoin platform for cross-border settlements

The collaboration could significantly enhance global financial efficiency, reduce transaction costs, and promote stablecoin adoption in traditional finance. The post Major Japanese banks back stablecoin platform for cross-border settlements appeared first on Crypto Briefing.

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BIS teams up with Bank of England to monitor stablecoin reserves

The Bank for International Settlements has announced a joint project with the Bank of England aimed at tracking stablecoins’ reserves. The Bank for International Settlements Innovation Hub in collaboration with the Bank of England announced a new joint pilot aimed…

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BRICS Eye Stablecoin Launch To Reduce The Influence Of The US Dollar — Will Ripple’s XRP Be Utilized?

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BRICS weighs in on using stablecoins in settlements, Russian official says

BRICS members explore stablecoin payments and a platform to conduct CBDC payments, aiming to enhance financial cooperation, a Russian official says. Stablecoins might become a tool for international settlements among BRICS members, as the alliance has already set up a…

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Urgent Stablecoin Regulation Needed, Global Financial Watchdog Says

In a bid to navigate the complex landscape of stablecoin regulation, the Bank for International Settlements (BIS) has sounded the alarm for urgent global oversight. The latest report from the BIS underscores the pressing need for a unified regulatory framework to address the significant regulatory fragmentation hindering the widespread adoption of stablecoins. Related Reading: Shiba […]

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BIS issues recommendations for global stablecoin regulation

The Bank for International Settlements has issued a set of recommendations aimed at regulating global stablecoins.

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New BIS Report: Crypto Stablecoins Fall Short On Redemptions

A new report from the Bank for International Settlements (BIS) has revealed a critical insight into the crypto market: no current stablecoin can guarantee full parity with its peg at all times, regardless of its size or backing type.

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USDC launches on Sei as Circle invests in layer 1 blockchain

Layer 1 blockchain Sei welcomes USDC as Circle makes strategic investment USDC will provide Sei developers and entrepreneurs access to fast and instantaneous transaction settlements Circle Ventures, the investment arm of USDC stablecoin issuer Circle, has made a strategic investment in Layer 1 blockchain Sei, the firms announced on Wednesday.

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Solana-Based Stablecoin Remittances Get a Boost with CFX Labs' Fresh $9.5M Fundraise to Expand Globally

Remittances are one of the most compelling use cases for stablecoins, offering fast, non-stop settlements and cheap transactions using blockchains as payment rail.

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Japan Clean Energy Certificates to be Tokenized as a Stablecoin on DeCurret Crypto Exchange

A consortium of Japanese companies plans to launch a yen-based digital currency, DCJPY, by July 2024. The currency will be used for transactions and settlements of clean energy certificates. The post Japan Clean Energy Certificates to be Tokenized as a Stablecoin on DeCurret Crypto Exchange appeared first on BeInCrypto.

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SOL Price Reacts As Visa Expands Stablecoin Settlement Pilot To Solana

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Visa expands its stablecoin capability to include USDC issued on Solana

Visa started venturing into USDC settlements back in 2021 through a partnership with Crypto. com. Crypto. com’s Australian card program’s cross-border volume was paid for using Ethereum-based USDC.

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Visa Embraces Solana Blockchain for USDC Settlements

Visa, the global payment giant, has made an exciting stride by extending its utilization of USDC stablecoin for settlement payments onto the Solana blockchain. This strategic move signifies Visa’s commitment to harnessing blockchain technology’s potential in the realm of payments.

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Visa Taps Solana and USDC Stablecoin to Boost Cross-Border Payments

The company said it is one of the first major payment institutions to use directly the Solana network for settlements.

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Stablecoin settlements were on par with payments giant Visa during 2022

Stablecoins are making significant waves in the payments sphere, primarily as a vehicle for non-speculative transactions, according to a new report by European hedge fund Brevan Howard. In 2022, the stablecoin market settled an eye-watering value of over $11 trillion, drawing parallels to payments giant Visa’s annual figure of $11.

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BIS exploring ways to monitor stablecoin reserves

The Bank for International Settlements (BIS) is prioritizing the focus on stablecoins and Central Bank Digital Currencies (CBDCs) in its forthcoming endeavors.

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Central Banks Are Working on a Monitoring System for Stablecoin Balance Sheets

The Bank for International Settlements is spearheading a project that will look into tech tools that could help regulators form policy frameworks for stablecoins based on data.

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Visa targets stablecoin settlements

Visa is working towards enabling its customers to switch between digital assets and traditional currencies through its platform as part of its cryptocurrency strategy for using stablecoin settlements.

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Visa Seeking to Build ‘Muscle Memory’ to Stablecoin Settlements

Coinspeaker Visa Seeking to Build ‘Muscle Memory’ to Stablecoin Settlements Recently, the payment giant has been testing different ways to get over the existing obstacles and check if it will be able to accept settlement payments made using stablecoins on the Ethereum (ETH) blockchain.

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Visa's crypto strategy targets stablecoin settlements

At the StarkWare Sessions 2023, Visa's Cuy Sheffield shared the company's vision for digital assets.

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UK ‘Fully Behind’ Stablecoin for Wholesale Settlements, Treasury Official Says

Crypto technology could “turbocharge all of those (financial) industries,” Economic Secretary to the Treasury Andrew Griffith said in a meeting.

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Stablecoin settlement is up 15% to $7 trillion in 2022

Stablecoin adoption continues to go up in 2022 to top $7 trillion, notwithstanding the bearish conditions in the crypto market. Stablecoins dominate settlements According to CoinMetrics, the stablecoin settlement had risen by 15% to hit $7 trillion in 2022 compared…

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Stablecoin settlements can surpass all major card networks in 2023: Data

While on-chain stablecoins settlements are growing rapidly, many people pointed out that comparing stablecoin settlements to Visa transactions is not fair as they represent two different things.

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Russia to Explore Cross-Border Stablecoin Settlements

Russia is considering stablecoins as an option for cross-border settlements, according to the country’s finance minister. Russia Could Use Stablecoins Russia could use stablecoins for international settlements. On September 6,...

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Russia Exploring Stablecoin Settlements With Friendly Nations: Report

President Vladimir Putin had signed a law banning digital payments earlier this summer.

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Principles for Financial Market Infrastructures should be applied to stablecoins: BIS

The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) of the Bank for International Settlements (BIS) published guidance on stablecoin regulation this past July 13.

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KPMG to audit new pound-backed stablecoin GBPT

In terms of daily turnover, the British pound (GBP) is the fourth most traded fiat currency in the world, according to the Bank for International Settlements.

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Checkout.com starts offering merchants 24/7 settlements via USDC

Checkout dot com, an online payment service provider, has rolled out a stablecoin settlement solution using Fireblocks’ new crypto payment technology that allows merchants to accept or make payments round-the-clock.

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Where to buy Stellar (XLM) coin: destined for greater heights after MoneyGram partnership

Stellar (XLM) has been on a bullish trend since Sept. 27 and the momentum of the trend is expected to get stronger following its partnership with MoneyGram to allow MoneyGram customers to make USDC stablecoin settlements.

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Here's how the BIS wants to 'standardize' the stablecoin industry

Stablecoins have been under a lot of regulatory scrutiny off late, largely due to unclarified laws around the world. In response to this upheaval, the Bank of International Settlements (BIS) has releaThe post Here's how the BIS wants to 'standardize' the stablecoin industry appeared first on AMBCrypto.

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Mastercard Floats Simplified Stablecoin Settlements for Businesses

Global payment giant Mastercard has announced significant upgrades to its crypto acceptance protocols, removing long-standing bottlenecks for cryptocurrency to fiat conversion. The company is the latest in the legacy payment arena to increase its focus on virtual currencies as demand for digital currency settlement options continues to increase.

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Paxos applies for clearing license with SEC following successful pilot tests

The stablecoin issuer completed a successful pilot test for same-day trade settlements with Credit Suisse and Instinet.

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BIS Says CBDCs Likely Better than Private Stablecoins Like Libra

The Bank for International Settlements is the latest major financial organization looking to implement industry-standard regulations in the stablecoins arena. Meanwhile, several nations are also working towards creating their own central bank digital currencies (CBDCs) which are seen by some commentators as being driven by private stablecoin projects like Facebook’s Libra.

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CoinDesk Joins IMF, CFTC, Swiss FINMA at DC Fintech Week

The virtual event, which runs Oct. 19-22, brings together marquee names from Switzerland’s FINMA, Sweden’s Riksbank, Bank for International Settlements, the Commodity Futures Trading Commission and the International Monetary Fund to discuss stablecoin regulation, central bank digital currencies, the future of money and more.

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Facebook’s Libra Stablecoin Put Central Banks On Notice, Causing Bankers To Look Into CBDC’s

A former Executive of the Bank of Japan (BOJ) has said that Facebook’s Libra prompted Central Banks to invest more resources in Digital Currency research sooner than expected. According to a report by Reuters on Jan 22, Hiromi Yamaoka, a former head of settlements and payments at the BOJ, noted that regulators might have done […]

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Russia will launch gold stablecoin – following Iranian PayMon (PMN)

Russia under the press of stifling international sanctions is looking for ways to conduct international settlements. A variant with crypto is being considered – this is reported by the Russian state news agency TASS with reference to Elvira Nabiullina, the head of the Bank of Russian.

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Coinsquare to launch Canadian Dollar-backed ‘eCAD’ stablecoin

Coinsquare, a cryptocurrency exchange, will soon be launching a stablecoin pegged 1:1 to the Canadian dollar [CAD]. The exchange plans to use its new token ‘eCAD’ for cross-border payments and remittances, peer-to-peer lending, merchant payment solutions, trade settlements and Forex conversions, reported Business Wire.

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What Is DeFi and Where Does It Leave Bitcoin?

The Bitcoin bull and bear market cycles are a pattern that produces significant developments — when the market is cold, people tend to focus on building the next wave of groundbreaking technology.

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BitPay Payment Processor To Utilize Paxos (PAX) Stablecoin To Improve Transaction Settlements

The adoption of cryptocurrency into new use cases has been constant. Rather than creating this opportunity independently, this need has made it crucial to establish partnerships with other companies that have managed to find their way into this new territory.

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BIS Report: Cryptocurrencies Are a Poor Store of Value, Unlikely to See Mass Adoption

A report from the Bank for International Settlements titled “Money and payment systems in the digital age,” published November 1, 2018, suggests that leading cryptocurrencies such as bitcoin, ether, and stablecoin tether do not serve the primary functions of money, and are, therefore, a poor store of value.

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Bitcoin Payments Provider BitPay Adds Gemini Dollar and USD//Coin as Settlement Options

Cryptocurrency payments provider BitPay added two stablecoins for fiat-equivalent settlements at merchant-level on Oct. 15, according to a press release. Stablecoin Usage Gaining Traction Seeing a significant demand for the usage of credible stablecoins in the cryptocurrency market, BitPay added Circle’s Centre USD//Coin (USDC) and the Gemini Dollar (GUSD) – both pegged on a 1-to-1 basis […] The post Bitcoin Payments Provider BitPay Adds Gemini Dollar and USD//Coin as Settlement Options appeared first on CryptoSlate.

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Bitcoin Payment Processor BitPay Introduces USDC and GUSD Stablecoin Settlements

BitPay customers may now receive settlement in Gemini Dollar (GUSD) and USD Coin (USDC), USD-pegged cryptocurrency stablecoins, without relying on costly, time-consuming wire transfers. The post Bitcoin Payment Processor BitPay Introduces USDC and GUSD Stablecoin Settlements appeared first on CoinSpeaker.

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Japanese Internet Monolith GMO to Launch Yen-Pegged Stablecoin

GMO Internet Group is working to launch a stablecoin by 2019. In an announcement released on Tuesday, October 9, 2018, the Japanese IT conglomerate said it is putting all gears in place to begin building its stablecoin, called the GMO Japanese Yen (GJY).

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Paxos Unveils Dollar-Backed Stablecoin Approved by New York Regulator

Blockchain startup Paxos has launched a regulated, dollar-backed stablecoin to facilitate instant transaction settlements for crypto investors.

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