Stablecoin

New U.S. Legislation Proposed to Regulate Stablecoins
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New U.S. Legislation Proposed to Regulate Stablecoins

Senators Kirsten Gillibrand of New York and Cynthia Lummis of Wyoming have introduced new legislation aimed at regulating the stablecoin market. The bill, known as the Lummis-Gillibrand Payment Stablecoin Act, was reported by Bloomberg on Wednesday, April 17. It seeks to establish clear regulations for payment stablecoins, which are dollar-pegged digital assets used for transaction...

Hong Kong Eyes Yuan-Linked Stablecoins to Revitalize Financial Ecosystem
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Hong Kong Eyes Yuan-Linked Stablecoins to Revitalize Financial Ecosystem

The Hong Kong General Chamber of Commerce (HKGCC) has made a proposal to introduce Chinese yuan-linked stablecoins, aiming to invigorate the region’s financial system. This suggestion is part of a broader set of recommendations aimed at enhancing Hong Kong’s economic environment and tackling manpower shortages. The HKGCC’s proposal includes the potential issuance of stablecoins pegged...

New Zealand’s Simple Crypto Launches NZ Dollar-Backed Stablecoin
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New Zealand’s Simple Crypto Launches NZ Dollar-Backed Stablecoin

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...

Verified USD Foundation Introduces USDV, A New Stablecoin Backed by US Treasuries
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Verified USD Foundation Introduces USDV, A New Stablecoin Backed by US Treasuries

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...

Bank of England Braces for Widespread Use of Tokenization
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Bank of England Braces for Widespread Use of Tokenization

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 Launches “Coinvertible”: the First Institutional Stablecoin Deployed on a Public Blockchain
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Societe Generale-Forge Launches “Coinvertible”: the First Institutional Stablecoin Deployed on a Public Blockchain

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...

U.S. Congress to Address Stablecoin Regulation with This New Bill
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U.S. Congress to Address Stablecoin Regulation with This New Bill

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...

Brazilian Investment Bank BTG Pactual Unveils Dollar-Backed Stablecoin
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Brazilian Investment Bank BTG Pactual Unveils Dollar-Backed Stablecoin

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...