South Korea’s Central Bank has announced it will reorganize its structure to include a “cryptoassets department” as a wave of public sector stablecoin-related activity continues to build momentum. The South Korean media outlet News1 reported that the Bank of Korea (BOK) has established a new division named the “Cryptoasset Department.” The headquarters of the Bank…
Arizona man Vincent Anthony Mazzotta Jr. pleaded guilty to money laundering and conspiracy to obstruct justice on Monday for his role in orchestrating a $13 million crypto Ponzi scheme, a new press release from the Department of Justice (DOJ) states. Arizona man pleads guilty to money laundering charges related to Ponzi scheme that resulted in…
The foreign exchange (FX) market processes over $7.5 trillion in daily volume, yet remains constrained by legacy infrastructure that is slow, fragmented, and unavailable around the clock. Traditional FX markets are closed on weekends, rely on third-parties, and transactions can take days to settle, making them inefficient. To address this, Mento is expanding its decentralized…
Crypto lender Abra has quietly paused withdrawals for international customers without public announcement, sparking fears of another major platform collapse similar to Celsius and BlockFi as desperate users flood social media demanding access to their frozen funds. According to DLNew, the platform, which claims to manage over $700 million in customer assets, notified some users…
A senior European Central Bank advisor has warned that Europe risks losing monetary sovereignty as euro-backed stablecoin(s) capture only 0.15% of the $230 billion global market. Jürgen Schaaf, writing in an.) Schaaf cautioned that widespread adoption of dollar stablecoins in the eurozone could weaken the ECB’s control over monetary conditions, potentially echoing patterns observed in…
Fortune 500 fintech leader FIS has partnered with Circle to enable US financial institutions to offer USDC stablecoin payments through integrated infrastructure. The partnership integrates Circle’s USDC functionality with FIS’s Money Movement Hub, allowing banks to offer domestic and cross-border stablecoin payments to customers. We’re partnering with @FISGlobal to expand @USDC access for financial institutions….
Investor appetite for crypto exchange-traded funds showed no signs of cooling on July 28, with spot Bitcoin ETFs pulling in $157m in net inflows, marking the third straight day of gains. BlackRock’s IBIT led the charge with $147.36m, significantly outpacing its peers and reinforcing its lead among spot Bitcoin products. Cumulative inflows into US spot…
Interactive Brokers is weighing the launch of its own stablecoin, potentially deepening its involvement in digital assets as US regulations surrounding the crypto industry begin to loosen. Founder Thomas Peterffy confirmed in an interview with Reuters that the firm is exploring the idea but has yet to finalize how the offering would be made available…
Coinbase is reportedly in late-stage talks to acquire Indian crypto exchange CoinDCX, weeks after the $44 million crypto heist. According to Indian media outlet Livemint, the deal would appraise CoinDCX at below $900 million, a steep decline from its peak valuation of $2.2 billion in 2021. Per two sources familiar with the development, Coinbase views…
Key Takeaways: Industrial Bank links stablecoin research with AI under China’s digital finance agenda. Zhu Guangyao calls dollar stablecoins a new Bretton Woods mechanism. Stablecoin infrastructure may become central to Belt and Road trade integration. China Industrial Bank will prioritize research into stablecoins and expand its “AI+” initiative, according to a report published by Shanghai…