Bank of America CEO Brian Moynihan confirmed that the institution is actively building a dollar-pegged stablecoin. Speaking during a financial conference in New York, Moynihan stated that the bank has been working with other industry participants on internal solutions. He emphasized the importance of upcoming federal regulation in shaping the bank’s next steps. According to […]
Industry
PayPal Upgrades PYUSD with Stellar for Global Payment Expansion
PayPal is upgrading its stablecoin, PYUSD, to support real-world payments, commerce, and microfinancing by integrating with the Stellar blockchain, a network known for its speed, low fees, and scalability. This marks a major evolution in PayPal’s stablecoin strategy and a step toward expanding its digital currency footprint beyond Ethereum and Solana. The Stellar network is […]
Urgent Stablecoin Regulation Demanded as Bank of Korea Governor Presses Presidents
Key Takeaways: Bank of Korea Governor Lee Chang-Yong is scheduled to attend a key dinner meeting with the heads of major domestic banks on June 23. The event, hosted at the Seoul Bankers’ Association building, marks a significant milestone in ongoing discussions about the development and regulation of digital currencies in South Korea. Among the […]
Ripple Joins Guggenheim to Launch US Treasury-Backed Digital Paper on XRP Ledger
US investment manager Guggenheim has taken another step into blockchain-based finance by expanding its digital commercial paper (DCP) product through a new partnership with Ripple. Bloomberg reported that Guggenheim’s subsidiary, Guggenheim Treasury Services, will now make its US Treasury-backed fixed-income asset available on the XRP Ledger (XRPL). Ripple will support the launch with a $10 […]
American Bitcoin Corp Announces $23 Million Bitcoin Reserve, Outlines Strategic Growth with Gryphon Merger
American Bitcoin Corp (ABTC), a Bitcoin mining company supported by Eric Trump and Donald Trump Jr., has amassed a notable Bitcoin reserve in slightly over two months. As stated in a filing with the U.S. Securities and Exchange Commission on June 6, ABTC has obtained 215 Bitcoin (BTC), which is currently worth almost $23 million. […]
Fortune 500 Blockchain Adoption Hits 60% as Stablecoin Usage Grows: Coinbase Survey
According to Coinbase’s latest State of Crypto report, 60% of Fortune 500 companies are beginning to work on crypto projects, representing the growing institutional adoption of digital assets. Furthermore, the report reveals a notable rise in cryptocurrency adoption by small and medium-sized businesses (SMBs) in the U.S., especially in the last four years, with adoption […]
BlackRock’s IBIT Becomes Fastest ETF to Reach $70B, Surpassing Gold ETF Record
BlackRock’s IBIT ETF reached $70 billion in assets in only 341 days, breaking records and surpassing the previous milestone set by the SPDR Gold Shares ETF.
Hong Kong Pilots Chainlink Protocol for Cross-Border CBDC and Stablecoin Settlement
Hong Kong partners with Chainlink, Visa, and ANZ to pilot cross-border CBDC and stablecoin transactions using blockchain interoperability protocols.
Avalon Labs Reduces AVL Token Supply by 44% Through Strategic Burn
The reduction of AVL tokens by 80 million by Avalon Labs caused a supply drop of 44%, which resulted in an 18% hike in AVL’s price.
LIBRA Token Scandal: Argentina President Javier Milei Cleared of Wrongdoing
Argentina President Javier Milei did not break any ethical rules in the LIBRA token promotion. However, authorities are checking for any market manipulation involvement.