Global Fintech & Digital Assets

JANUARY 8, 2024

The proposed regulatory framework would create substantive obligations on issuers of fiat-referencing stablecoins to safeguard the public. The HKMA followed with its own press release announcing a future sandbox arrangement for stablecoin issuers.

Stablecoins 59

Stablecoins Consulting Issuers Non-Bank 59

Fintech News

MAY 12, 2024

Dollar (USD), and will support stablecoins like USDT and USDC, adhering to the Financial Action Task Force (FATF) travel rule. The company plans to launch XREX Pay, a platform designed to facilitate B2B payments and remittance services. XREX Pay will accommodate transactions in Singapore Dollar (SGD) and U.S.

Cross-Border 92

Cross-Border Cross-Border Payments Travel Rule Regulatory Compliance 92

Fintech News

FEBRUARY 27, 2024

2023 marked a pivotal year in the Asia-Pacific (APAC) region’s approach to crypto regulation, influenced significantly by the preceding implosion of Sam Bankman-Fried’s FTX exchange and the collapse of of Terra, the algorithmic stablecoin created by Korean entrepreneur Do Kwon.

APACS 97

APACS Regulations Stablecoins Cryptocurrency 97

PYMNTS

NOVEMBER 20, 2019

Travel Rule. Digital currency exchanges reportedly are not happy with this move, given that the guidance seems sure to lead to more expense on the part of those companies in making sure they comply with the new rules. At issue most of all is Recommendation 16 in the FAFT guidance, a so-called “travel rule.”

Travel Rule 49

Travel Rule Rules Digital Currency Cryptocurrency 49

Fintech News

JANUARY 24, 2024

Per FATF (Financial Action Task Force) standards, compliance with the Travel Rule mandates DPT services to share client information for transactions, ensuring further safety in digital transfers. The company is also enhancing its BitCheck tool to facilitate transactions involving fiat, stablecoins, and cryptocurrencies.

Service Provider 96

Service Provider Cryptocurrency Payments Institute Stablecoins 96