archivestablecoin

With some major economies leaping onto the stablecoin train – or being urged to do so, to further globalise their currencies – others are mulling whether getting on board would be akin to either riding the gravy train or feeling it fail to gather steam.Now, the international financial organisation known as the “bank for central banks” has waded into the stablecoin debate as the buzzword gathers momentum.In a “special chapter” released on Tuesday in advance of Sunday’s release of its Annual Economic Report 2025, the Bank for International Settlements (BIS)...

Circle has followed its IPO by partnering with London financial infrastructure developer OpenPayd and Brazilian fintech Matera to support payments infrastructure for stablecoins and traditional currency.The unified Circle/OpenPayd platform is expected to enable OpenPayd's business clients to execute payments using Circle's USDC stablecoin, with conversions between fiat and stablecoins on both ends of the transaction.That conversion is a key element for stablecoin payments, which can act as a bridge between different currencies on both ends of an international transaction. The London-based OpenPayd  processes about $160 billion in payments annually.By adding...

Global bank Citi has predicted 2025 could be a possible inflection point for blockchain adoption driven by stablecoins, akin to the breakout year artificial intelligence (AI) had with popular application ChatGPT."2025 has the potential to be blockchain’s ‘ChatGPT’ moment," the bank's analysts said in a report published earlier this week.At the center of the Citi's projection are stablecoins, a class of cryptocurrencies pegged to traditional currencies like the U.S. dollar. These tokens, led by Tether's $145 billion USDT and Circle's $60 billion USDC, have seen tremendous growth recently and are...

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 US Treasuries, dollars and other cash equivalents and is designed to keep a value of $1 (roughly Rs. 85), 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...