PayPal uses stablecoin to invest in blockchain risk management startup
Finextra
SEPTEMBER 22, 2024
PayPal has used its own stablecoin to make an additional investment in blockchain risk management specialist Chaos Labs.
PayPal Stablecoin (PYUSD) Made Available on Solana Blockchain
The Fintech Times
MAY 30, 2024
PayPal USD (PYUSD), PayPal ‘s USD stablecoin, will now be available on the Solana blockchain. The news was announced at Consensus 2024 , the long-running cryptocurrency, blockchain and web3 event. ” The simplified experience of PayPal and Venmo wallets shows PYUSD as a unified balance regardless of the blockchain.
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PayPal stablecoin comes to Solana blockchain
Finextra
MAY 29, 2024
PayPal's PYUSD is now available on the Solana blockchain in a move that the company says will make its stablecoin faster and cheaper to use.
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SCB 10X Introduces ‘Rubie Wallet’ for Stablecoin Payments at Devcon 2024
Fintech News
NOVEMBER 12, 2024
Rubie Wallet enables attendees to convert regulated US dollar-pegged stablecoins into THBX, a Thai Baht stablecoin. Utilising the Base blockchain allows for low-cost transactions. The post SCB 10X Introduces ‘Rubie Wallet’ for Stablecoin Payments at Devcon 2024 appeared first on Fintech Singapore.
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SCB Emerges as First Thai Bank to Adopt Stablecoins for Cross-Border Payments
Fintech News
OCTOBER 16, 2024
Siam Commercial Bank ( SCB ), alongside its venture arm SCB 10X and Lightnet , has launched Thailand’s first cross-border payment system utilising stablecoins, according to CoinGape. The use of stablecoins also streamlines currency conversion processes, facilitating easier transfers between digital and local currencies.
MAS-Regulated Paxos Launches USDG Stablecoin Backed by US Dollar Reserves
Fintech News
NOVEMBER 3, 2024
Paxos, a blockchain and digital asset solutions provider, has launched a new US dollar-backed stablecoin called Global Dollar (USDG). The stablecoin is issued by Paxos Digital Singapore , which is regulated by the Monetary Authority of Singapore (MAS), and is designed to meet the regulator’s upcoming stablecoin framework.
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StraitsX Enables Stablecoin-Based Payments for Tourists at GrabPay Merchants
Fintech News
NOVEMBER 5, 2024
StraitsX, a digital asset payments infrastructure provider in Southeast Asia, has partnered with Ant International and superapp Grab to launch a new blockchain-based cross-border payment system. The new system uses Purpose Bound Money (PBM), which specifies the conditions for using stablecoins, and the Avalanche blockchain.
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Ripple plans stablecoin
Finextra
APRIL 4, 2024
Crypto and blockchain giant Ripple is launching its own dollar-pegged stablecoin.
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Ripple Plans to Launch USD-Pegged Stablecoin
Fintech News
APRIL 7, 2024
Ripple, a provider of enterprise blockchain and crypto solutions, plans to introduce a stablecoin tied directly to the US dollar (USD), pending regulatory approvals. With the stablecoin market currently valued at approximately US$150 billion and expected to soar to over US$2.8 said Brad Garlinghouse, CEO of Ripple.
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PayPal’s Stablecoin Joins Solana: Impact on Consumers and Banks Explained
Finovate
JUNE 3, 2024
PayPal’s stablecoin, PayPal USD (PYUSD), was officially added to the Solana Blockchain last week. This shift comes after the California-based company launched on Ethereum blockchain last summer. Now, PayPal stablecoin users can send PYUSD on Ethereum or Solana when transferring out to external wallets.
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BVNK Launches Layer1, a Self-Custody Infrastructure for Stablecoin Payments
Fintech Finance
JUNE 27, 2024
BVNK , global stablecoin payment provider, announces the launch of a new product, Layer1. This self-hosted, self-custody digital asset infrastructure helps businesses launch stablecoin payments quickly and securely, while keeping full control and privacy over their digital assets.
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StraitsX is Bringing Real-World Stablecoins to the Singapore Mainstream
Fintech News
JUNE 19, 2024
Stablecoins have been rising in conversation within the financial ecosystem of Singapore. As the name implies, stablecoins are digital assets designed to maintain a stable value relative to a reference asset, such as the US Dollar or gold.
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Paxos introduces US dollar backed stablecoin global dollar
Finextra
NOVEMBER 1, 2024
Paxos, the leading regulated blockchain and tokenization infrastructure platform, today introduced Global Dollar (USDG) - a US dollar-backed stablecoin that is substantively compliant with MAS’ upcoming stablecoin framework. Paxos Digital Singapore Pte. Paxos’s affiliate, Paxos Global Pte.
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Banking Circle Launches the First Bank-Backed MiCA-Compliant Stablecoin, EURI
Fintech Finance
AUGUST 27, 2024
the innovative, tech-driven payments bank, announces the launch of EURI, a bank-backed stablecoin, compliant with the Markets in Crypto Assets Regulation (MiCA). EURI is the first e-money token launched by Banking Circle and the first MiCA regulated stablecoin that is issued and backed by a bank in the EU. Banking Circle S.A.,
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Ripple Acquires Standard Custody, Names Jack McDonald as Stablecoin Lead
Fintech News
JUNE 11, 2024
Ripple, a provider of enterprise blockchain and crypto solutions, has finalised its acquisition of Standard Custody & Trust Company, a regulated digital asset custodian, after securing necessary regulatory approvals. Following this acquisition, Ripple has announced plans to launch a USD-backed stablecoin.
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Visa develops dashboard to make sense of stablecoin activity
Finextra
APRIL 25, 2024
Visa has teamed up with blockchain data provider Allium Labs to build a dashboard that helps people make sense of stablecoin activity.
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Singapore Users Can Now Top up GrabPay Wallet Using Stablecoins
Fintech News
MARCH 18, 2024
This initiative aims to offer users more convenience by enabling the conversion of digital currencies, like stablecoins, into spendable funds within their GrabPay Wallets. The supported stablecoins at this stage include StraitsX Singapore Dollar (XSGD), Tether (USDT), and USD Coin (USDC). experiences among its users in Singapore.
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A new era of stablecoins: Ripple USD Begins testing on the XRP Ledger Mainnet
The Payments Association
SEPTEMBER 30, 2024
The mainnet version of Ripple USD is also available on Ethereum, with plans to expand to additional blockchains and decentralized finance (DeFi) protocols over time. With over a decade of building enterprise financial solutions, Ripple is in an ideal position to launch a stablecoin that addresses a market projected to grow to over $2.8
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StraitsX Secures MAS Licenses for Stablecoin Issuance, Crypto Payments
Fintech News
JULY 16, 2024
This development follows the earlier announcement in November 2023, where StraitsX, along with Paxos, received In-Principle Approvals (IPA) from MAS to issue stablecoins. In addition to this, StraitsX has introduced XUSD, a fiat-pegged USD stablecoin, aimed at digitising currencies essential for global trade.
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DECTA Joins Forces With French Fintech to Revive Euro-Pegged Stablecoin
The Fintech Times
AUGUST 5, 2024
Ireland-based electronic money institution (EMI) DECTA is joining forces with France-based fintech Next Generation to launch a new Euro-pegged stablecoin, ‘EURT’ DECTA and Next Generation explained that EURT is fully compliant with MiCA requirements and will operate on the Stellar blockchain, as well as three other platforms.
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Banking Circle Makes Stablecoins More Accessible With Launch of EURI
The Fintech Times
AUGUST 28, 2024
the tech-driven payments bank, has launched its bank-backed stablecoin, EURI. The EURI stablecoin is the first MiCA-regulated digital asset that is issued and backed by a bank in the EU. Furthermore, it will enable us to launch stablecoins and tokenised money in the future, providing more choice and optionality for the market.”
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Fireblocks and Chainlink forge stablecoin pact
Finextra
SEPTEMBER 18, 2024
Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain, and Chainlink Labs, the primary contributing developer of Chainlink—the essential infrastructure for the tokenized asset economy—announced today a strategic collaboration to offer a secure and compliant technology solution for banks (..)
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Ripple Dips Into Stablecoin Market, With Plans to Launch a Stablecoin on XRPL and Ethereum
The Fintech Times
APRIL 5, 2024
Ripple , the provider of enterprise blockchain and crypto solutions, plans to launch a stablecoin, pegged 1:1 to the US dollar (USD). Ripple’s stablecoin will be 100 per cent backed by US dollar deposits, short-term US government treasuries, and other cash equivalents. trillion by 2028.
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DBS’ Crypto Arm Reports Tripling Trading Volume, Explores Stablecoin Listings
Fintech News
JULY 9, 2024
DBS was recently selected by blockchain and tokenisation infrastructure platform Paxos as its primary banking partner for cash management and custody of stablecoin reserves. To that end, we are studying listing stablecoins on our exchange and studying how to enable clients to earn rewards through Ethereum staking.
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Paxos Now Supports Chainlink’s PayPal USD Price Feed to Bolster Stablecoin Adoption
Fintech News
FEBRUARY 7, 2024
Paxos, a regulated blockchain and digital asset solutions provider, now supports Chainlink’s PayPal USD (PYUSD) price feed on the Ethereum mainnet. This collaboration aims to streamline the adoption of PYUSD, a USD-backed stablecoin issued by Paxos under PayPal’s banner.
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PayPal USD stablecoin now available on Solana blockchain
The Paypers
MAY 31, 2024
PayPal has announced that PayPal USD (PYUSD) is now available on the Solana blockchain, enhancing speed and reducing costs for stablecoin transactions.
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Foresight Ventures Announces Strategic Partnership with Deep Blue and Arta TechFin to Enhance Stablecoin and RWA Business Initiatives
Fintech Review
OCTOBER 29, 2024
The alliance aims to drive innovation and growth of the Stablecoin and Real-World Asset (RWA) ecosystem Deep Blue is an issuance platform for Stablecoins bringing best-in-class practices and best partners in both digital assets and traditional finance, enabling users to operate across multiple use cases.
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Agora-Backed AUSD Stablecoin is Live on Sui
Fintech Review
SEPTEMBER 5, 2024
Grand Cayman, Cayman Islands, September 5th, 2024, Chainwire After successful launches on other major networks, AUSD has deployed on Sui, tapping into the scalable, high-performance network and strengthening Sui’s stablecoin ecosystem. The post Agora-Backed AUSD Stablecoin is Live on Sui appeared first on Fintech Review.
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Membrane Finance launches euro stablecoin on the Solana blockchain
The Paypers
AUGUST 28, 2023
Finland-based fintech company Membrane Finance has launched a MiCA-compliant euro stablecoin on the Solana blockchain.
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Stabilising The Crypto Frontier: UAE’s Groundbreaking Stablecoin Regulations
The Fintech Times
JULY 15, 2024
In this article, Akshata Namjoshi, Kabir Kuma, and Ahlam Faouzi from KARM Legal Consultants , the emerging technologies-focused law firm, provide an in-depth analysis of the UAE’s regulatory landscape for stablecoins. Additionally, stablecoins are increasingly being explored for use in payments due to their stability and efficiency.
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Societe Generale-FORGE Partners with Bitpanda to Promote Stablecoin Adoption Across Europe
The Fintech Times
SEPTEMBER 26, 2024
The first stage of this partnership will focus on increasing the accessibility and adoption of SG-FORGE’s MiCA1-compliant stablecoin EUR CoinVertible , which will be listed on Bitpanda’s platform and made available to retail investors as well as white label partners in the coming weeks.
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Singapore Users Can Now Top up GrabPay Wallet Using Crypto and Stablecoins
Fintech News
MARCH 18, 2024
The five supported digital currencies at this stage include Bitcoin (BTC), Ether (ETH) as well as stablecoins such as StraitsX Singapore Dollar (XSGD), Tether (USDT), and USD Coin (USDC). This initiative aims to offer users more convenience by enabling the conversion of digital currencies into spendable funds within their GrabPay Wallets.
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BVNK Launches US Dollar Payments via Swift, Enabling Global Businesses to Access Its Stablecoins Services
Fintech Finance
JUNE 13, 2024
BVNK , the stablecoin payments provider, announced today that it has enabled Swift payments on its platform, so businesses can move easily between US dollars, Euros and stablecoins like USDT, USDC and PYUSD. By bringing together bank and blockchain payment rails and currencies in a single platform, we enable this for our customers.
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PEXX Acquires Blockchain Media Platform Chain Debrief After US$4.5M Raise
Fintech News
AUGUST 21, 2024
PEXX, a fintech startup specialising in stablecoin cross-border payments, has acquired Singapore-based blockchain media platform Chain Debrief. PEXX said that the goal is to provide users with updated information on blockchain technology, cryptocurrencies, and regulatory developments, enhancing their decision-making process.
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Conflux Network to host HK$ stablecoin AxHKD
Finextra
MARCH 13, 2024
Conflux Network, the only regulatory compliant public blockchain in China, today announces its pivotal role in assisting the successful beta-testing of the Hong Kong Dollar (HKD)-backed stablecoin, AxHKD.
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How the UAE’s Stablecoin Decision Could Impact Local Businesses, Crypto and a Future CBDC
The Fintech Times
JUNE 19, 2024
The Central Bank of the United Arab Emirates (CBUAE) has approved new regulations for stablecoins, enabling it to integrate Dirham-backed digital currencies into its financial ecosystem. A new system has now been issued in the UAE which will license and oversee stablecoins, following approval by the board of directors at the CBUAE.
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Xoom Enables Partners to Use PayPal USD for Faster Cross-Border Payments
Fintech News
NOVEMBER 20, 2024
This move aims to reduce the cost and increase the speed of international money transfers by leveraging blockchain technology. Yellow Card, Africa’s largest licensed stablecoin on/off-ramp fintech, will also leverage PYUSD to facilitate transactions.
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Xoom Users Can Now Use PayPal’s Stablecoin for Cross-Border Transfers
Fintech News
APRIL 7, 2024
customers to utilise PayPal USD (PYUSD) , a stablecoin pegged to the U.S. To make use of PYUSD for funding transactions, users must have a sufficient balance of the stablecoin in their PayPal Cryptocurrency Hub. Xoom, a subsidiary of PayPal specialising in cross-border money transfers, has enabled U.S. Enabling U.S.
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Market Trend Report: Fiat-backed stablecoins for payment leaders
CB Insights
MARCH 2, 2023
What is a fiat-backed stablecoin? Fiat-backed stablecoin companies in this market issue stablecoins collateralized by fiat currency. Fiat-backed stablecoins are backed at a 1:1 ratio, meaning 1 stablecoin is equal to 1 unit of currency. For each stablecoin that exists, real fiat currency is held in a bank account.
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Ripple Partners With DIFC Innovation Hub to Accelerate UAE Blockchain and Crypto Adoption
The Fintech Times
AUGUST 7, 2024
Ripple , the blockchain and crypto solution provider, is partnering with the Dubai International Financial Centre’s (DIFC) Innovation Hub, to accelerate blockchain and digital assets innovation in the UAE. It also plans to provide financial, technical, and business support to developers.
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PayPal's Xoom introduces cross-border stablecoin payments
Finextra
NOVEMBER 19, 2024
Cebuana Lhuillier and Yellow Card will be the first Xoom disbursement partners to use PYUSD to settle cross-border money transfers, allowing them to leverage the cost and speed advantages of blockchain technology.
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Stablecoin Surge Tracked: Cambridge Digital Money Dashboard Offers Real-Time Insights
The Fintech Times
FEBRUARY 12, 2024
The Cambridge Centre for Alternative Finance (CCAF) has launched a new tool providing real-time data and educational resources on digital money with an initial focus on stablecoins. The stablecoin market has surged from less than $3billion in 2019 to more than $130billion in 2024.
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Essential DeFi strategies for financial transformation
The Payments Association
NOVEMBER 18, 2024
At its core, De-Fi is characterised by its use of blockchain technology and smart contracts to facilitate financial transactions without needing intermediaries. Among the most prominent are stablecoins and the tokeni s ation of traditional financial instruments. As of June 2024, stablecoins accounted for 6.5%
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Ripple and Axelar Foundation Set a New Standard for Blockchain Interoperability on XRPL
The Fintech Times
FEBRUARY 29, 2024
As more firms look to enter the blockchain and decentralised space, easy integrations and the ability to develop applications are an absolute must. Axelar network’s integration with the XRPL aims to help bolster the XRPL DeFi ecosystem by providing essential liquidity for stablecoins and large-cap assets.
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