Latest news with #AnthonyYim
Cision Canada
23-06-2025
- Business
- Cision Canada
B2B Stablecoin Payments Surge 30x to $3 Billion Monthly Volume in 2025
HONG KONG, June 23, 2025 /CNW/ -- A new research report on the stablecoin landscape, Stablecoin Payments from the Ground Up, by Artemis ( developed in collaboration with Castle Island Ventures and Dragonfly, reveals significant growth in business-to-business (B2B) stablecoin payments. Monthly volumes have surged from under $100 million in early 2023 to over $3 billion by 2025, representing a 30-fold increase in just two years. The study, drawing on data from 20 leading fintech companies including Reap, offers the most comprehensive insight to date into the global adoption of stablecoins for cross-border payments. Reap, Asia's leading stablecoin-enabled financial technology provider, is proud to have contributed transaction-level insights for the B2B segment, one of the fastest-growing use cases for stablecoins. Reap observed a significant acceleration in stablecoin-funded card transactions during the latter half of 2024. This surge indicates that stablecoins have expanded their use case beyond the crypto ecosystem. "Stablecoins are no longer limited to the Web3 space, they're becoming a credible alternative for global business finance," said Daren Guo, Co-Founder of Reap. "We're proud to contribute real-world transaction data to this pivotal report. From remittances across Asia to cross-border payments in Mexico, stablecoins are enabling faster, more efficient global flows and Reap is building the frictionless, stablecoin-enabled infrastructure to support them." The report also identifies key geographic corridors driving stablecoin flows. The most active transactions originate from the USA, Hong Kong SAR, Singapore, Japan, and the UK. Notably, the Singapore-China corridor stands out as the most active route for stablecoin flows. Both Hong Kong SAR and Singapore frequently feature in these transactions, underscoring their significance as regional financial hubs. "As an early Venmo engineer who wrestled with mountains of payment code, seeing money transfer simplified to just a few lines with stablecoins is revolutionary. My years in fintech and crypto have convinced me: stablecoins are the future of payments, and Reap is leading this transformation by leaps and bounds." Anthony Yim, Co-founder of Artemis. Reap's regional growth closely mirrors the global trends outlined in the Artemis report. The company's growing footprint across Asia and beyond reflects strong demand for stablecoin infrastructure in high-volume corridors. This alignment further validates the growth potential of stablecoins transactions within the markets Reap operates in. Download Stablecoin Payments from the Ground Up here. About Reap Reap is a financial technology company providing stablecoin-enabled infrastructure for the modern business, enabling borderless finance globally. As Asia's leading stablecoin-enabled card issuer, Reap processes billions in stablecoin-funded payments each month. Reap provides stablecoin-enabled financial services to Web3 and digital asset-savvy businesses, from Reap Direct - an integrated business account to manage their corporate cards, payments and expense management to API-driven embedded finance solutions. Headquartered in Hong Kong, Reap is committed to strong and high regulatory and compliance standards, with access to major financial institutions and global currencies for efficient and cost-effective money movement.
Yahoo
05-05-2025
- Yahoo
Romanian EBT theft suspect pleads no contest to all charges
BAKERSFIELD, Calif. (KGET) — A Romanian man accused with two others of stealing more than $100,000 in EBT funds pleaded no contest Monday to all charges for a court-indicated two-year prison term. The open plea was made over the objection of prosecutor Anthony Yim, who said defendant Alberto-Ionel Baran faced up to 10 years and eight months in prison if convicted at trial. Baran deserves more than two years in custody after he 'massively disrupted the lives' of more than 175 people who couldn't withdraw the benefits they needed, Yim said. In response, defense attorney Victor Nasser noted there are two other defendants charged in the case and the amount the prosecution says was stolen can't be attributed solely to Baran. Judge Gloria Cannon said she took into account Baran's lack of a prior criminal record and his youth — he's 24 — in making her decision. She said she's aware many people were impacted. Sentencing is set for June 3. In November 2024, Baran and two other Romanians — Fernando Stantu and Mari-Mar Milica — were arrested after being found with 48 cloned EBT cards and more than $15,000 in stolen cash, according to prosecutors. A total of seven Romanian nationals have been identified in Kern County for EBT fraud. Click here for more on 17 News' investigation into this widespread fraud that's affecting thousands of people countywide. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
