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Fernando Martinez, CEO of NoncoNonco Fernando Martinez talks like a man who’s already seen the future. In it, SWIFT, the messaging networks thousands of banks around the world use to give instructions for transferring funds between accounts, is obsolete. He insists that the global foreign exchange market should run on stablecoins, cryptocurrencies typically pegged to fiat currencies like the U.S. dollar. These convictions underpin his company, Nonco, based in Miami. Founded in 2023 as a spin-out from Hong Kong crypto exchange OSL, it has quietly grown into one of the...

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,...