Latest news with #KevinLehtiniitty
CNBC
5 days ago
- Business
- CNBC
Bitcoin drops as Trump calls for 50% tariff on European Union starting next month: CNBC Crypto World
On today's episode of CNBC Crypto World, bitcoin falls after President Donald Trump said he is 'recommending a straight 50% Tariff on the European Union' amid stalled trade negotiations. Plus, the president hosted a dinner for top holders of his meme coin as some Democrats raised ethics concerns. And, Kevin Lehtiniitty of reacts to the Senate advancing the GENIUS Act stablecoin regulation bill this week.
NBC News
08-05-2025
- Business
- NBC News
Stablecoins are back in focus as Democrats reject legislation approving their use
Stablecoins have come into focus on Thursday, as Democrats opposed legislation aimed at creating a legal pathway for the digital tokens. Stablecoins are privately issued digital currencies. Proponents like to refer to them as 'digital dollars' that are akin to in-store credits a consumer might find at a retailer. Unlike other forms of crypto, like Bitcoin, whose values fluctuate, most stablecoins' values are 'pegged,' or set at equivalent to, real-world currencies like the U.S. dollar. Stablecoins are in an early stage of evolution and, for now, most consumers don't interact directly with them. Instead, they are primarily used by large crypto exchanges and a growing group of traditional financial institutions as part of 'back-end' functions that involve converting crypto into regular currencies, and vice-versa. If an exchange operates in multiple countries, and/or trades in multiple cryptocurrencies — but would prefer to avoid having the value of its holdings fluctuate — it will usually seek to convert its holdings into stablecoins. 'A lot of [companies] do global card processing and use different payment service providers,' said Kevin Lehtiniitty, founder of a stablecoin platform. 'They use Stablecoins to repatriate those funds back to U.S.' So far, stablecoins have been operating in a legal gray zone. The GENIUS Act that ha s been under consideration in the Senate — with an equivalent bill in the House — seeks to provide standards for firms that issue stablecoins. Among those standards is a consideration for how much dollar reserves the firms must have on hand when they issue a coin, what rights customers have for redeeming them, and what protections they offer so that 'runs' on the stablecoins are avoided if something breaks down. Historically, the stablecoin market has not been immune from major collapses, and some regulators remain sensitive about granting too much leeway to stablecoin operators. The Securities and Exchange Commission's lone remaining Democrat, Caroline Crenshaw, has criticized President Trump-backed SEC's recent statement on stablecoins as containing 'legal and factual errors' that 'paint a distorted picture' of the tokens that 'drastically understate' their risks. In particular, she said, most stablecoins are issued through third-party exchanges that have been 'lightly regulated or not regulated at all.' The SEC's policy feeds 'a dangerous industry narrative about the supposed stability and safety of these products,' Crenshaw wrote. 'Make no mistake: There is nothing equivalent about the U.S. dollar and unregulated, privately-issued crypto assets that are opaque ... uncollateralized, uninsured, and laden with risk at every step of their multi-layer distribution chain. They are risky business.' But stablecoin advocates say the new legislation would have helped provide consumer protections while allowing innovation to occur. In particular, the bill provided reserve requirements, similar to ones that regular banks face, that ensured a stablecoin user is able to redeem their holdings for the exact amount they are worth. 'A lot of safety measures are being added to these bills,' said Cody Carbone, CEO of the crypto industry's primary lobbying group, The Digital Chamber, adding that they 'ensure that we can keep financial stability in place if there's a black swan event.'
Malaysian Reserve
02-05-2025
- Business
- Malaysian Reserve
Abra Joins the Borderless.xyz Network, Deepening Stablecoin OTC Liquidity in the US
NEW YORK, May 2, 2025 /PRNewswire/ — a global payments infrastructure company that enables transactions using stablecoins and real-world assets (RWAs), has officially welcomed Abra, a premier U.S. digital-asset prime broker, to fortify orchestration network with institutional-grade dollar liquidity. By plugging Abra's high-touch OTC desk and compliant banking rails into single-API platform, financial institutions, payments companies, fintechs, and corporates gain access to deep USD order books, highly competitive spreads, and a white-glove trading experience—dramatically boosting the depth and resilience of U.S. corridors. 'Institutions increasingly need reliable, on-shore liquidity for sizable stablecoin transactions,' said Kevin Lehtiniitty, CEO of 'Abra brings top-tier OTC execution and competitive pricing across major USD pairs. Embedding their infrastructure into the Network significantly enhances our U.S. rails—ultimately lowering costs and improving execution quality for everyone involved.' 'At Abra, we strive to make large-scale crypto and stablecoin trades compliant, seamless, and cost-effective,' added Bill Barhydt, Founder & CEO of Abra. 'Joining global stablecoin network underscores our commitment to interoperability and efficiency. Together, we're simplifying complex OTC flows for businesses moving value into and out of the United States.' This collaboration marks another milestone in mission to unite the world's leading stablecoin innovators under one network. By connecting diverse liquidity venues into a cohesive global system, is making cross-border and domestic payments faster, simpler, and more cost-effective for all. About is a leading global payments infrastructure company designed to facilitate transactions using internet-native money, including stablecoins and real-world assets (RWAs). Covering more than 50 countries and 23 currencies, mission is to empower builders to create efficient money movement, deliver stable currencies to emerging markets, and drive the transition to on-chain banking. is backed by Amity Ventures, along with executives of leading companies such as Michael Shaulov of Fireblocks, Johnny Ayres of Socure, and Anton Katz of Talos. To learn more, visit About Abra Abra is a U.S.-based digital-asset financial services firm specializing in institutional-grade OTC trading, prime brokerage, and treasury solutions. Trusted by hedge funds, corporates, and family offices, Abra pairs deep USD liquidity with white-glove execution, compliant banking rails, and rigorous security standards. Since 2014, the company has facilitated billions of dollars in large-block crypto and stablecoin transactions, giving clients seamless on- and off-ramps to the global digital-asset economy. Discover more at Contact Sarah CohenSJC PRsarah@ Photo – –
Yahoo
04-04-2025
- Business
- Yahoo
Borderless.xyz adds BRLA to stablecoin network
Payments infrastructure firm has added BRLA, a provider of payment and stablecoin solutions in Brazil, to its stablecoin orchestration network. This collaboration will facilitate access to BRLA's local payment rails through platform. With this move, the company aims to create a network connecting stablecoin companies and local payment systems, enabling seamless integration of on-chain and off-chain finances. This partnership is expected to enhance the financial infrastructure in Brazil by providing choices for counterparties involving stablecoins. CEO Kevin Lehtiniitty said: 'Brazil is a key market where stablecoins make remittances faster and cheaper. BRLA is a leader in payments in the region and the only issuer of an independently audited BRL stablecoin. I'm really excited to bring their local rails to stablecoin companies around the world through the Network.' BRLA Digital co-founder Lucas Giorgio said: 'At BRLA, we're building the most reliable infrastructure for stablecoin access and local payments in Brazil. Partnering with allows us to bring that infrastructure to a truly global stage, connecting with the best-in-class stablecoin companies. Together, we're making it easier for the world to access the regions financial system through the best-in-market product—designed for scale, built for compliance, and trusted by companies moving real volume.' BRLA, operating within Brazil, is an issuer of independently audited Brazilian Real (BRL) stablecoin. The company's infrastructure supports the integration of stablecoin technology into local payment systems. Last month, partnered with USDM issuer Mountain Protocol to demonstrate the potential of yield-bearing stablecoins in transforming the payment landscape and creating new financial opportunities on a global scale. operates in over 50 countries, dealing with 23 different currencies, and facilitates transactions with internet-native money, including stablecoins and real-world assets. " adds BRLA to stablecoin network " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
04-04-2025
- Business
- Yahoo
Borderless.xyz adds BRLA to stablecoin network
Payments infrastructure firm has added BRLA, a provider of payment and stablecoin solutions in Brazil, to its stablecoin orchestration network. This collaboration will facilitate access to BRLA's local payment rails through platform. With this move, the company aims to create a network connecting stablecoin companies and local payment systems, enabling seamless integration of on-chain and off-chain finances. This partnership is expected to enhance the financial infrastructure in Brazil by providing choices for counterparties involving stablecoins. CEO Kevin Lehtiniitty said: 'Brazil is a key market where stablecoins make remittances faster and cheaper. BRLA is a leader in payments in the region and the only issuer of an independently audited BRL stablecoin. I'm really excited to bring their local rails to stablecoin companies around the world through the Network.' BRLA Digital co-founder Lucas Giorgio said: 'At BRLA, we're building the most reliable infrastructure for stablecoin access and local payments in Brazil. Partnering with allows us to bring that infrastructure to a truly global stage, connecting with the best-in-class stablecoin companies. Together, we're making it easier for the world to access the regions financial system through the best-in-market product—designed for scale, built for compliance, and trusted by companies moving real volume.' BRLA, operating within Brazil, is an issuer of independently audited Brazilian Real (BRL) stablecoin. The company's infrastructure supports the integration of stablecoin technology into local payment systems. Last month, partnered with USDM issuer Mountain Protocol to demonstrate the potential of yield-bearing stablecoins in transforming the payment landscape and creating new financial opportunities on a global scale. operates in over 50 countries, dealing with 23 different currencies, and facilitates transactions with internet-native money, including stablecoins and real-world assets. " adds BRLA to stablecoin network " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
