Coinbase Acquires Stake in Circle, Dissolves Centre Consortium
Coinbase, the largest US crypto exchange, has acquired a stake in Circle, the issuer of USD Coin (USDC), the second-largest stablecoin in the world. The deal coincides with the closure of the Centre Consortium, a joint venture between Coinbase and Circle that governed USDC. Coinbase and Circle end their partnership The terms of the agreement […]
Shinhan Bank Completes Stablecoin Remittance Pilot
South Korea’s Shinhan Bank has accomplished the second proof-of-concept using stablecoins for international remittances. The project also included participation from an unnamed Taiwanese financial institution and the SCB TechX division of Siam Commercial Bank. Real-time settlement and foreign exchange integration with the national currencies of the banks were carried out as part of the project […]
Techteryx Gains Full Control of TrueUSD
Techteryx, the stablecoin TrueUSD (TUSD) owner, has announced that it is taking full control of its operation more than two and a half years after acquiring it from crypto firm ArchBlock. Techteryx will now handle all offshore operations and services related to TUSD, including minting, redemption, compliance, and banking. TrueUSD is a stablecoin that aims […]
EBA Calls for Early Adoption of Stablecoin ‘Guiding Principles’
The European Banking Authority (EBA) recommended stablecoin issuers to get ready for the upcoming MiCA regulation. Before the necessary regulations took effect, the financial watchdog urged the stablecoin issuers to take immediate action and voluntarily adhere to the guiding principles for consumer safety and risk management. EBA touched on a number of topics in the […]
Circle Eyes Issuing Stablecoin Under New Japanese Law
Circle, the US-based financial services company and issuer of the popular stablecoin USDC, is exploring the possibility of issuing a stablecoin in Japan. In an interview, Jeremy Allaire, co-founder, and CEO of Circle, stated that he thought Japan might become a key market for stablecoins, especially if they become widely accepted in cross-border trading. Following […]