Latest news with #USD-backed
Yahoo
4 days ago
- Business
- Yahoo
National interests are setting the trajectory of stablecoin and CBDC markets
Among the first US Presidential orders was banning the Federal Reserve's (Fed) digital dollar creation in January 2025 to keep the Central Bank from entering the organically developing digital currencies space. The move signalled a clear break from state-issued digital currencies and an ideological shift toward market-driven innovation. By May, Bitcoin hit another all-time high above $111,000 and the country's top banks—JP Morgan, Bank of America, Citi, and Wells Fargo—announced a joint stablecoin initiative, showing a 180-degree shift from the Democrat-era cryptocurrency sentiment. Not only does this mark a reputational pivot for institutions that once distanced themselves from crypto, but it also underscores how regulatory tailwinds can rapidly reshape institutional strategy. Across the Atlantic, the European Central Bank (ECB) set up new groups to explore digital euro use cases in its most-recent push. Yet, the share of euro-backed stablecoins remains under 1% of the total supply dominated by USD-backed coins (99%+); highlighting the disproportionate influence of US monetary infrastructure on global digital finance. This imbalance has emerged as a silent yet powerful driver of USD demand, especially important at a time when appetite for the dollar is weakening globally amid growing trade wars. The largest US incumbents moving into the crypto space via a stablecoin initiative was anticipated following the most-recent advancement of the GENIUS (Guiding and Establishing National Innovation for US Stablecoins) Act in the Senate. Years of restrictive regulation on crypto assets has left traditional banks with no choice but to campaign against the industry, which is arguably the biggest competitive threat to traditional finance and its institutions yet. The four banks' joint stablecoin announcement now signals a systemic shift, as the GENIUS Act is set to bring long-awaited federal oversight to the stablecoin market in the form of consumer protection and national security measures. The timing suggests a strategic play of US banks aligning with federal efforts to regulate stablecoins in an attempt to steer it in their favour. Meanwhile, Europe's MiCA (Markets in Crypto-Assets) regulation proved too restrictive for by far the largest stablecoin Tether to comply, which is now unavailable on European exchanges. Though, the biggest demand for Tether's services is concentrated in emerging markets out of necessity for fast, cheap, and reliable transfers. With that said, the ECB's two, new 'Pioneers' and 'Visionaries' workstreams are currently looking for and testing potential functionalities and use cases for the digital euro that aims to launch by the end of the year. The scope of these trials suggests that beyond consumer payments, the ECB is considering applications in programmable finance, automated tax collection, and cross-border trade—all areas where it seeks to reduce its dependence on US-based infrastructure. So far, the trajectory of private vs government-issued digital currencies shows strong correlation with national interests and its regulatory backing, which is expected to continue shaping stablecoins' and Central Bank Digital Currencies' (CBDCs) regional development paths moving forward. The ECB is unlikely to relax MiCA rules as it recently named the digital euro one of the three structural economic policy priorities, amid their ongoing push for payments independence from US providers. On the other hand, creating a supportive regulatory environment for stablecoins aligns with the Fed's monetary interests too; given that stablecoin issuers are set to become the largest US Treasury securities holders globally by 2030 as foreign government demand drops. This makes stablecoins not just a tech innovation, but an increasingly vital pillar of US fiscal stability. Blandina Hanna Szalay is an analyst, banking & payments, at GlobalData "National interests are setting the trajectory of stablecoin and CBDC markets" 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. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Barnama
6 days ago
- Business
- Barnama
Bitget Lists Ripple USD (RLUSD) To Expand Stablecoin Offerings On Spot Market
VICTORIA, Seychelles, May 29 (Bernama) -- Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of Ripple USD (RLUSD) on its spot trading platform. RLUSD, an enterprise-grade USD-backed stablecoin issued by Ripple, enters the Bitget ecosystem at a time when demand for secure and compliant digital assets continues to rise, particularly among institutional participants and developers focused on enterprise-grade blockchain use cases. As a stablecoin pegged 1:1 to the U.S. dollar, RLUSD is natively issued on both the XRP Ledger (XRPL) and Ethereum, leveraging the unique strengths of each blockchain. The asset is backed by a segregated reserve held in USD fiat and cash equivalents. Bitget's decision to list RLUSD aligns with its strategy to support strong, high utility-driven assets across its growing spot market, which serves as a curated space for projects that advance blockchain adoption through real-world applications.
Gulf Insider
25-05-2025
- Business
- Gulf Insider
Bitcoin to $1 Million by 2028? Arthur Hayes Says It's Inevitable.
Arthur Hayes, the outspoken co-founder and former CEO of BitMEX, is no stranger to volatility, be it in markets or in politics. But when he predicts that Bitcoin will hit $1 million by 2028, it is a macroeconomic thesis grounded in decades of monetary policy missteps, geopolitical recalibration, and the slow-motion collapse of the fiat system born in 1971. A System Built On Sand Hayes sees Bitcoin's price action as a structural response to the erosion of financial sovereignty. When the U.S. decoupled the dollar from gold in 1971, it created a global financial system reliant on credit issuance, massive debt accumulation, and central bank intervention. 'The people who benefited the most are those who issue credit – commercial banks,' Hayes explains. 'And anyone who challenges their dominance tends to fall afoul of regulators.' From his perspective, Bitcoin's rise is not a random fluke, it's a very clear reaction. A decentralized, scarce, programmable asset stands in stark contrast to the highly centralized, inflationary fiat model. The Trump Factor And The Strategic Reserve Illusion Hayes is less impressed by politicians claiming to embrace Bitcoin, especially when it is there to serve a populist narrative. Take President Trump's Executive order on the Bitcoin Strategic Reserve, while the move grabbed headlines and delighted many in the Bitcoin and crypto community, Hayes remains sceptical. 'Governments buy assets for political reasons and sell them for political reasons,' he warns. 'Why tether your financial future to the whim of politics?' He doesn't see this as actual adoption, but only as a tactical appeal to voters disillusioned by deindustrialization, wage stagnation, and the rise of big finance. Still, the political interest in Bitcoin, no matter how superficial, signals a shift in how governments perceive the role of digital assets in a post-dollar world. Stablecoins Will Lead, But Bitcoin Will Reclaim The Narrative In the short term, Hayes argues that stablecoins, particularly USD-backed ones like USDT, will see greater real-world adoption, especially in regions with limited banking access. 'People want dollars, not volatility,' he notes, citing the Middle East, as a major growth market for stablecoins. Afterall, the Arab region's population is only approximately 40% banked according to the ESCWA Annual SDG Review 2025. But that doesn't mean Bitcoin loses its edge in the stablecoin game. Quite the opposite. Hayes predicts Bitcoin dominance will rise to 70% just before we will see unprecedented price action to $1 million. Why $1 Million Bitcoin Isn't As Wild As It Sounds At the heart of Hayes' forecast is one simple principle: the fiat system must inflate or collapse. Either path fuels Bitcoin's rise. 'The amount of money that will need to be printed just to maintain the current economic structure is staggering,' he explains. 'That's what's going to propel Bitcoin.' Whether or not governments buy Bitcoin is secondary. Their policies of debt expansion, currency debasement, and geopolitical fragmentation will drive more capital into decentralized stores of value. In other words, Bitcoin doesn't need the Government's buy-in or permission to win. We just let governments do their thing, and this leads to Bitcoin winning. Beyond Price: A New Financial Era Hayes' prediction of $1 million isn't rooted in hype. It's based on deep scepticism about the longevity of the current financial order and belief that a decentralized alternative is not only possible but necessary. 'This isn't just about crypto,' Hayes concludes. 'It's about dismantling a system that no longer works and building something better.' Whether Bitcoin reaches $1 million by 2028 remains to be seen. But the conditions that could make it happen are already here.
Cision Canada
20-05-2025
- Business
- Cision Canada
DeFi Technologies to Enter RWA Space with Launch of Regulated, Bank-Issued Stablecoin in Partnership with Fire Labs; Kraken Joins as Strategic Integration Partner
Strategic Joint Venture to Launch Regulated Stablecoin: DeFi Technologies has entered into a joint venture and made a lead equity investment in Fire Labs, a stablecoin infrastructure provider backed by America First Technology (" AFT"). This partnership marks DeFi Technologies' entry into the Real-World Asset (" RWA") sector through the development of a fully regulated, USD-backed stablecoin issued directly by a U.S. chartered bank. Kraken Integration to Accelerate Institutional Access: To support secure and scalable adoption, Fire Labs will integrate with Kraken Embed—Kraken's modular crypto infrastructure platform—enabling seamless, regulated access to the stablecoin within institutional and enterprise platforms. GENIUS Act Momentum: The initiative aligns with growing regulatory support in the U.S., including the pending GENIUS Act—a bipartisan bill advancing through Congress to establish a clear federal framework for fiat-backed stablecoins issued by regulated institutions. Overcollateralized Infrastructure and Revenue Model: Fire Labs' stablecoin will be backed by 105% reserves, exceeding regulatory requirements to ensure stability and trust. A companion yield-bearing token will offer compliant, bank-backed returns tailored for institutional investors. DeFi Technologies will generate revenue through trading fees, yield participation, and broader integration across its business lines. Minority Investment in AFT: DeFi Technologies has also completed a minority 19.5% investment in CH Technical Solutions SA, operating as AFT. TORONTO, May 20, 2025 /CNW/ - DeFi Technologies Inc. (the " Company" or " DeFi Technologies") (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a financial technology company bridging the gap between traditional capital markets and decentralized finance ("DeFi"), is pleased to announce a strategic joint venture and foundational equity investment in Fire Labs, Inc. (" Fire Labs"), a next-generation stablecoin infrastructure provider incubated and backed by America First Technology (" AFT"). As part of the initiative, Fire Labs will integrate with Kraken Embed, the institutional crypto infrastructure platform from Kraken, to support secure and scalable adoption of its regulated, bank-issued stablecoin. This partnership marks DeFi Technologies' strategic entry into the rapidly expanding Real-World Asset (" RWA") sector, underpinned by a foundational investment in Fire Labs, a pioneer in digital asset and stablecoin infrastructure, and its backer, AFT. Pioneering a Regulated Stablecoin Amid heightened market volatility and rising demand for secure digital assets, DeFi Technologies is positioned to support Fire Labs' global rollout of a fully regulated, bank-issued stablecoin. Through its subsidiaries, DeFi will help bring to market one of the world's first USD-backed stablecoins issued directly by a U.S. chartered bank. The launch comes at a pivotal time in U.S. regulatory development. In early 2025, the U.S. Senate Banking Committee advanced the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act), a bipartisan bill aimed at establishing a comprehensive federal framework for fiat-backed stablecoins. The proposed legislation seeks to promote market stability, transparency, and consumer protection, underscoring the importance of robust, regulated stablecoin models like Fire Labs'. Key features of Fire Labs' stablecoin infrastructure include: Overcollateralization: Backed by a 105% reserve ratio, well above typical regulatory thresholds, offering enhanced security and credibility. Yield-Bearing Token: A companion token will allow institutions and users to earn yield backed by the issuing bank's capital, while remaining fully compliant with regulatory standards. Revenue Generation: DeFi Technologies will generate revenue through trading fees, yield participation, and broader integration across its business lines. This next-generation infrastructure is built to support the evolving demands of the digital asset economy, with applications spanning RWA tokenization, cross-border payments, and crypto-native fixed income solutions. A Transformative Market Opportunity The market for regulated, bank-issued stablecoins has reached a pivotal moment, with the stablecoin sector's market capitalization soaring to approximately $225 billion as of early 2025-an increase of over $100 billion in the past year alone. This growth is fueled by rising demand for RWA tokenization, yield-generating digital assets, global remittances, and institutional adoption. Fire Labs' stablecoin launch is positioned to become the first bank-issued, regulated digital dollar, addressing all of these trends with an enterprise-ready foundation. DeFi Technologies' Ecosystem: Enabling Global Scale DeFi Technologies' business lines will provide full-stack support and scale for the joint venture: Valour: Will lead distribution via its regulated ETP platform, broadening access to stablecoin and yield-token products. Stillman Digital: Will provide seamless fiat on/off ramps, bridging traditional and blockchain-based assets. DeFi Alpha: The Company's proprietary trading desk will leverage the stablecoin and yield token for arbitrage and yield strategies. Strategic Partnership and Technological Integration To support rollout and adoption, Fire Labs has formed a key partnership with major global cryptocurrency exchange Kraken: Founded in 2011, Kraken is one of the most established and trusted cryptocurrency platforms globally. With over 10 million clients in 190+ countries, Kraken offers access to more than 200 digital assets and supports six fiat currencies, including USD, EUR, and GBP. Its regulated, institutional-grade infrastructure makes it a preferred partner for enterprises, governments, and financial institutions entering the digital asset space. Kraken Partnership: Fire Labs will integrate with Kraken Embed, Kraken's modular crypto infrastructure solution that enables platforms and institutions to offer seamless digital asset services within their own applications. Kraken Embed allows users to buy, sell, and custody crypto assets without leaving the host platform—leveraging Kraken's secure, regulated backend while maintaining a fully branded user experience. This integration brings institutional-grade trading and custody infrastructure directly into Fire Labs' stablecoin ecosystem. Executive Commentary Olivier Roussy Newton, CEO of DeFi Technologies, commented: "This joint venture with Fire Labs positions DeFi Technologies at the forefront of the stablecoin and RWA revolution. Partnership and integration with one of the leading and largest exchanges, Kraken, validates the go-to-market and technology. As market volatility drives investors toward secure, yield-bearing digital assets, this partnership unlocks significant opportunities for our clients and subsidiaries." Adrian Kennedy, CEO of Fire Labs, added: "DeFi Technologies' expertise across traditional and decentralized finance is instrumental in our mission to deliver secure, compliant, and accessible financial products to institutions worldwide." Transaction Details Fire Labs Joint Venture DeFi Technologies has partnered with Fire Labs, Inc. through a foundational equity stake and joint venture focused on launching the industry's first fully regulated, bank-issued stablecoin and a yield token. Commercial terms of the joint venture remain confidential. AFT Media Investment (via CH Technical Solutions SA) In connection with the Transaction, the Company issued 1,607,717 common shares of the Company (the " Payment Shares"), to CH Technical, in exchange for 19.5% of the capital of CH Technical (the"Acquisition"). No finder fees were paid in connection with the Transaction. Closing of the Acquisition is subject to the acceptance of Cboe Canada Exchange. Mr. Chase Ergen, was formerly a beneficial owner of CH Technical at the time of execution of the definitive documents effecting the Transaction. The issuance of the Payment Shares to CH Technical constituted a "related party transaction" within Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101") at such time. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the value of the issuance of such Payment Shares does not exceed 25% of the Company's market capitalization. As of closing of the Transaction, Mr. Ergen did not hold any interest in CH Technical. About Fire Labs Fire Labs delivers a unified, cloud–native platform that enables embedded bank-like accounts, payment cards, cross–border payments, digital wallets and tokenized assets. Built from the ground up with compliance in mind, our AI–enabled stack combines real–time payment rails with blockchain technology and risk analytics so money moves quickly, securely, and transparently. Learn more at About Kraken Founded in 2011, Kraken is one of the world's longest-standing and most secure cryptocurrency platforms. Trusted by over 10 million clients globally, Kraken offers access to more than 200 digital assets and supports six national currencies, including USD, EUR, and GBP. The company provides a comprehensive suite of services, including spot and futures trading, staking, and custodial solutions, catering to both retail and institutional investors. Kraken is committed to accelerating the global adoption of cryptocurrencies by delivering innovative products and maintaining the highest standards of security and compliance. For more information please visit About AFT Media AFT Media is a pioneering media and investment company that bridges the gap between Decentralized Finance (DeFi) and media innovation. By leveraging cutting-edge blockchain technology, AI-driven financial insights, and tokenized engagement models, AFT Media creates a trustless, transparent, and financially incentivized ecosystem for both investors and content consumers. For more information please visit About DeFi Technologies DeFi Technologies Inc. (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B) is a financial technology company bridging the gap between traditional capital markets and decentralized finance (" DeFi"). As the first Nasdaq-listed digital asset manager of its kind, DeFi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to over sixty-five of the world's most innovative digital assets via regulated ETPs; Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and custody; Reflexivity Research, which provides leading research into the digital asset space; Neuronomics, which develops quantitative trading strategies and infrastructure; and DeFi Alpha, the company's internal arbitrage and trading business line. With deep expertise across capital markets and emerging technologies, DeFi Technologies is building the institutional gateway to the future of finance. Follow DeFi Technologies on LinkedIn and X/Twitter, and for more details, visit DeFi Technologies Subsidiaries About Valour Valour Inc. and Valour Digital Securities Limited (together, " Valour") issues exchange traded products (" ETPs") that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies. For more information about Valour, to subscribe, or to receive updates, visit About Reflexivity Research Reflexivity Research LLC is a leading research firm specializing in the creation of high-quality, in-depth research reports for the bitcoin and digital asset industry, empowering investors with valuable insights. For more information please visit About Stillman Digital Stillman Digital is a leading digital asset liquidity provider that offers limitless liquidity solutions for businesses, focusing on industry-leading trade execution, settlement, and technology. For more information, please visit About Neuronomics AG Neuronomics AG is a Swiss asset management firm specializing in AI-powered quantitative trading strategies. By integrating artificial intelligence, computational neuroscience and quantitative finance, Neuronomics delivers cutting-edge solutions that drive superior risk-adjusted performance in financial markets. For more information please visit Cautionary note regarding forward-looking information: This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the joint venture with Fire Labs and AFT; development of a stablecoin and features thereof; integration with Kraken Embed; the growth of the RWA sector; the Acquisition; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by DeFi Technologies and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited to the growth and development of decentralized finance and the digital asset sector; rules and regulations with respect to decentralized finance and digital assets; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Coin Geek
15-05-2025
- Business
- Coin Geek
MNEE Stablecoin now available on HandCash: Unlocking instant transactions with no gas token required
Homepage > News > Business > MNEE Stablecoin now available on HandCash: Unlocking instant transactions with no gas token required Getting your Trinity Audio player ready... London, United Kingdom – May 6, 2025 – MNEE, an instant USD-backed stablecoin, is now live on HandCash, a leading wallet powering game economies and in-app transactions. This integration marks an advancement in the accessibility and real-world utility of stablecoins, especially for micropayment use cases. The integration allows HandCash users to hold, spend, and receive MNEE directly within the HandCash wallet without needing to manage gas tokens, private keys, or deal with blockchain complexity. Consumers and developers gain a frictionless payment method that settles instantly, with transaction costs as low as one-tenth of a cent – making it ideal for microtransactions, tipping, and in-app purchases. 'This integration unlocks new possibilities for game developers building in-game economies, and real-time micropayments. It's plug-and-play stablecoin utility,' said HandCash CEO Rafa Jiménez. HandCash's mobile wallet and Connect SDK allow games and platforms to integrate seamless payments, and token economies with minimal effort. MNEE strengthens this ecosystem by providing a fully collateralized, regulated, and scalable stablecoin tailored for modern digital economies. For MNEE, the HandCash launch opens direct access to a global community of users and developers already building next-generation apps — from tipping streamers to trading game items and earning tokenized rewards. Users can now transact with a stable, instant, and user-friendly digital currency. 'This partnership is a clear win for both developers and users,' said Harbind Likhari, Executive Director at MNEE. 'It delivers on everything a stablecoin should be — fast, affordable, and simple — while unlocking real-world use across games, social apps, and digital commerce.' The integration between MNEE and HandCash sets the stage for a new era in digital payments — one where speed, compliance, and ease of use come together to power stablecoin adoption in everyday life. About MNEE MNEE is a USD-backed stablecoin enabling instant, scalable payments that cost next to nothing, and simple usage with no gas token required. Built on the 1Sat Ordinals protocol and ERC-20, MNEE's commitment to building the future of money focuses on delivering secure, efficient payment solutions that cost next to nothing across a wide range of industries and platforms. Bitcoin transactions Handcash MNEE Rafa Jiménez Stablecoins Web 3.0
