Simple Crypto, a leading cryptocurrency retailer based in Auckland, New Zealand, is introducing its first stablecoin, NZDD, backed one-to-one by the New Zealand dollar. This move marks a significant development in bridging traditional finance with the digital age. NZDD: A Stablecoin for Seamless Transactions The NZDD coin is designed to provide a stable and efficient...
The Verified USD Foundation has launched a new stablecoin, Verified USD (USDV), which is distinctively backed by tokenized US Treasury Bills (T-bills). This development marks a significant step in the cryptocurrency space, offering a stablecoin that combines the security of T-bills with the efficiency of blockchain technology. USDV: A Blend of Stability and Innovation USDV...
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The Bank of England (BoE) is preparing for groundbreaking innovations in finance, spearheaded by the rise of stablecoin, central bank digital currencies (CBDCs), and tokenized bank deposits. BoE Deputy Governor Sir John Cunliffe shared the central bank’s position at the Innovative Finance Global Summit on Monday during his keynote address. Cunliffe said the central bank...
Societe Generale–FORGE (SG-FORGE), a fully integrated and regulated subsidiary of Societe Generale group dedicated to digital assets, launches the EUR CoinVertible, a digital asset that purports to maintain a stable value (stablecoin). EUR CoinVertible is deployed in Euro denomination on the Ethereum public blockchain (ticker code: EURCV). This pioneering project complements SG-FORGE’s business offer to...
The Bank of Israel says it’s preparing an action plan for the potential issuance of a central bank digital currency, though a formal decision has yet to be made. On April 17, the Bank of Israel Steering Committee on the Potential Issuance of a Digital Shekel outlined possible scenarios for the development and deployment of...
The United States has moved towards regulating cryptocurrencies, beginning with a focus on stablecoins. Despite previous concerns about the ambiguous nature of crypto regulations, the U.S. is taking a proactive step in regulation. They also seem to be starting with the bridge between digital currencies and traditional fiat money. Stablecoin bill draft surfaces in U.S...
BTG Pactual, one of Latin America’s largest investment banks, has introduced a dollar-backed stablecoin through its crypto platform, Mynt. The stablecoin, BTG Dol, is the world’s first dollar-backed stablecoin issued by a bank, BTG Pactual said in an announcement on Tuesday. The São Paulo, Brazil-based bank said it is enabling clients to “dollarize part of...
Financial market regulators around the world hardly know what to make of cryptocurrency. This asset class doesn’t fit neatly into existing categories, while the collapse of FTX in 2022 made the need for smarter regulations painfully obvious. National governments want to assert their regulatory oversight of crypto because controlling currencies is how they manage their...
Binance will withdraw from the BUSD stablecoin assets from its Industry Recovery Initiative (IRI) crypto industry assistance fund, to which the company previously sent $1 billion, Changpeng Zhao, the head of the exchange, said. The remaining funds in the fund will be converted into cryptocurrencies such as Bitcoin, Ethereum and BNB. “Given the changes in...
