Currencies

Donald Trump’s World Liberty Financial crypto venture will launch a dollar-pegged stablecoin, it said in a statement on Tuesday, after raising more than half a billion dollars from selling a separate digital token. The stablecoin, called USD1, will be fully backed by U.S. Treasuries, dollars and other cash equivalents and is designed to keep a value of $1, World Liberty said in the statement. Dollar-pegged stablecoins such as Tether and USDC have ballooned in recent years and now act as a key cog in the multi-trillion dollar crypto trading industry,...

World Liberty Financial revealed its plan to launch its USD1 stablecoin. The stablecoin will be backed by short-term US government treasuries, US Dollar deposits, and other cash equivalents. The platform stated that USD1 reserves will be custodied by BitGo. President Donald Trump-inspired World Liberty Financial (WLFI) confirmed on Tuesday that it will launch its USD1 stablecoin, which it claims will be backed 1:1 with the US Dollar. This comes after the DeFi platform initiated several test transactions using the stablecoin on the Binance BNB Chain. World Liberty Financial clarifies USD1...

EUR/USD finds support below 1.0800 as the US Dollar struggles to extend upside amid easing fears of impending tariffs by the US on April 2. Preliminary US S&P Global Services PMI gained significantly in March. The ECB is expected to cut interest rates again in April. EUR/USD finds cushion around 1.0780 and rises to near 1.0825 during North American trading hours on Tuesday. The major currency pair attracts bids as the US Dollar (USD) drops on the narrower-than-feared tariff agenda of United States (US) President Donald Trump. The US Dollar Index (DXY), which tracks the Greenback's value...

World Liberty Financial, the decentralized finance venture backed by President Donald Trump and his family, has launched a stablecoin. The stablecoin, dubbed USD1, will be pegged to the U.S. dollar and be backed by short-term U.S. government treasuries, U.S. dollar deposits, and other cash equivalents. It joins an increasingly crowded market of stablecoins. The market cap for dollar-backed stablecoins has grown more than 46% in the past year, according to CryptoQuant. World Liberty Financial, the decentralized finance venture backed by President Donald Trump and his family, has launched a stablecoin,...

World Liberty Financial, the decentralized finance venture backed by President Donald Trump and his family, has launched a stablecoin. The stablecoin, dubbed USD1, will be pegged to the U.S. dollar and be backed by short-term U.S. government treasuries, U.S. dollar deposits, and other cash equivalents. It joins an increasingly crowded market of stablecoins. The market cap for dollar-backed stablecoins has grown more than 46% in the past year, according to CryptoQuant. World Liberty Financial, the decentralized finance venture backed by President Donald Trump and his family, has launched a stablecoin,...

State Bank of India raised $1 billion in the largest dollar-denominated syndicated loan this year from the nation, giving a boost to the lagging foreign-currency debt market. The borrower opted not to exercise a greenshoe option to increase the five-year facility by as much as $250 million, said people familiar with the matter, who asked not to be identified discussing private information. SBI declined to comment. Foreign-currency loans taken out by Indian issuers have declined 30 per cent to $3.2 billion so far in 2025 from the year-earlier period, and are...

OpenAI's Sam Altman is reportedly in talks with Visa to enhance World Wallet with cross-asset functionality. The collaboration aims to develop a sophisticated wallet strategy, enabling seamless cross-platform transactions with crypto, cards, and fiat currencies. Altman, known for his impact on the global AI landscape with ChatGPT, also leads Worldcoin (World)—a controversial Web3 project designed to offer ‘proof of personhood' in response to the growing presence of AI and bots online.Altman reportedly launched World Wallet alongside the Worldcoin project in July 2023. By integrating Visa, he aims to evolve it...

Over the last seven trading sessions, the rupee has appreciated by 154 paise, placing it at the top of the performance chart among Asian currencies for the month. Meanwhile, benchmark stock indices have seen their longest winning streak since September 2024read moreIndian investors and forex traders have recently had a couple of reasons to celebrate. It appears that the financial markets in the country are in comeback mode.The Indian rupee is finally limping back up against the US dollar. The stock market, having taken several hits in the past few...

BENGALURU: Indonesian stocks tumbled more than 4% and its currency hit a three-week low on Monday, as traders exited on concerns around the country’s fiscal health and growth prospects, compounded by the threat of steep US tariff hikes. An MSCI gauge of emerging Asian equities ticked lower. Stocks in South Korea and Taiwan, making up over a third of the index, fell about 0.4%, while Indian stocks, accounting for one-fifth of the index, jumped 1.1%. Traders remained on edge as US President Donald Trump’s barrage of tariffs due next week...

MELBOURNE – The Indonesian rupiah declined to its weakest level since the Asian financial crisis as fears mounted over the nation’s fiscal trajectory, putting pressure on the central bank to step up efforts to defend the currency. The rupiah fell 0.5 per cent to 16,641 against the US dollar on March 25, its weakest since June 1998. The currency has slumped more than 3 per cent in 2025, making it one of the worst performers in emerging markets.The rupiah has also slumped against the Singapore currency, down about 6 per...