Latest news with #digitalfinance
Finextra
8 hours ago
- Business
- Finextra
ZA Global leads $40 million round in Hong Kong stablecoin firm RD Technologies
Hong Kong-based financial conglomerate ZA Global has led a $40 million Series A2 round in local stablecoin issuer RD Technologies. 0 RD Technolgies is laying the groundwork for the launch of HKDR, a stablecoin that promises to be fully anchored to the Hong Kong dollar, in anticipation of the rollout of a stablecoin licensing framework in the territory by early 2026. The funding from ZA Global provides a stepping stone into the work of regulated finance through a collaboration with digital banking subsidiary ZA Bank. ZA Bank has signed a Memorandum of Understanding (MOU) with RD, building on their foundational partnership in reserve banking services established last year. Under the new agreement, ZA Bank will further deepen its collaboration by providing custody for HKDR and by acting as a distribution hub for the new coin. ZA global president Wayne Xu says: 'As regulatory clarity and demand for compliant stablecoin solutions continue to grow, our partnership with RD marks a milestone in aligning innovation with compliance. Together, we are shaping a secure and regulated digital finance ecosystem for Hong Kong and the wider region.'
RNZ News
3 days ago
- Business
- RNZ News
Nauru seeks to transform its economy by becoming a cryptocurrency powerhouse
Nauru's Command Ridge Virtual Asset Authority creates a licensing and regulatory scheme for digital asset transfers, including cryptocurrency lending and exchange. Photo: RNZ Pacific / AFP An Australian finance director has flown to Nauru with ambitions to turn it into the crypto powerhouse of the Pacific. Nauru's newly minted Command Ridge Virtual Asset Authority creates a licensing and regulatory scheme for digital asset transfers, including cryptocurrency lending and exchange. It makes Nauru the first nation in Oceania to regulate digital finance. Brian Phelps, the new chief executive of the CRVAA , told RNZ Pacific that it could transform the Nauru economy, and potentially that of the whole region. "Nauru is a vulnerable country in terms of its economy, and the whole idea of setting this up is to think innovatively about how to resolve some of [those] concerns and build a better economic future." If a trusted, stable regulator existed, Phelps said, it could lay the foundation for money flows in the Pacific to go fully digital, as they set the example for other nations developing their own regimes. Thus, it could be transformational for key revenue streams, such as remittances, Phelps added. "You've probably heard of Western Union and businesses. I have a view that Nauru could become a remittance payment provider for itinerant workers throughout the Pacific who would like to send money home. "A safe, secure means of doing that now is through things like a stablecoin." This comes as traditional remittance payment systems become more risky. On 3 July, Australia's financial crime enforcer AUSTRAC announced an audit of Western Union, the Pacific's largest remittance provider, for gaps in its anti-money laundering systems, including poor customer due diligence, and non-reporting of suspisious transactions. Phelps has pondered whether Nauru could compete with Western Union in the remittance game. "These are just ideas for Nauru to look to develop its capability." Brian Phelps is the newly appointed CEO of Nauru's Command Ridge Virtual Asset Authority. Photo: Facebook / The Government of the Republic of Nauru In most countries, cryptocurrencies have operated within a legal grey area, as more and more businesses begin to accept them as a medium of exchange, without state laws recognising them as legal tender. Over the last few years, nations have begun to bring them within a special legislative framework, with the aim of making them more stable and thus reliable. In the United States, the chief outcome of a week dubbed "Crypto week" by House Republicans was the GENUIS Act, which ruled that cryptocurrencies called "stablecoins" had to be pegged 1 to 1 to the US Dollar, providing them greater stability as an investment. Meanwhile, in countries like China, the use of cryptocurrencies by individuals remains heavily restricted. Pacific Islands have met the rise of crypto with enthusiasm, Phelps said. "In Palau, for instance, they are developing a digital residency program and a stablecoin program in that country (for) cross border transactions. And Fiji and Vanuatu have been investing in opportunities around a central bank digital currency," Around that time, the ABC reported that the Pacific was becoming a "testing ground" for the crypto world. For example, an Oxfam project using blockchain technology for humanitarian aid, which has been supported by MFAT and Australian Aid, used Vanuatu as a testing ground after Tropical Cyclone Harold in 2019. The program, called "UnBlocked", uses a digital payment system with special vendors at aid supply sites, operational across Vanuatu and Papua New Guinea. According to Oxfam, more than 35,000 people in the Pacific have benefited from it. In terms of becoming legal tender, though politicians like Fijian Prime Minister Sitiveni Rabuka have championed crypto, central banks have often cautioned against it. In Tonga, the ambitions of the late Lord Fusitu'a - who passed away in February 2024 - to make Bitcoin a legal tender never panned out. For Tuvalu, the problem is more existential, as climate change threatens the country's infrastructure; indeed the very land it sits on. In 2021, Tuvalu was establishing a "national digital ledger" using a digital currency linked to a blockchain, something that is still in the works.
RNZ News
3 days ago
- Business
- RNZ News
Nauru seeks transform its economy by becoming a cryptocurrency powerhouse
Nauru's Command Ridge Virtual Asset Authority creates a licensing and regulatory scheme for digital asset transfers, including cryptocurrency lending and exchange. Photo: RNZ Pacific / AFP An Australian finance director has flown to Nauru with ambitions to turn it into the crypto powerhouse of the Pacific. Nauru's newly minted Command Ridge Virtual Asset Authority creates a licensing and regulatory scheme for digital asset transfers, including cryptocurrency lending and exchange. It makes Nauru the first nation in Oceania to regulate digital finance. Brian Phelps, the new chief executive of the CRVAA , told RNZ Pacific that it could transform the Nauru economy, and potentially that of the whole region. "Nauru is a vulnerable country in terms of its economy, and the whole idea of setting this up is to think innovatively about how to resolve some of [those] concerns and build a better economic future." If a trusted, stable regulator existed, Phelps said, it could lay the foundation for money flows in the Pacific to go fully digital, as they set the example for other nations developing their own regimes. Thus, it could be transformational for key revenue streams, such as remittances, Phelps added. "You've probably heard of Western Union and businesses. I have a view that Nauru could become a remittance payment provider for itinerant workers throughout the Pacific who would like to send money home. "A safe, secure means of doing that now is through things like a stablecoin." This comes as traditional remittance payment systems become more risky. On 3 July, Australia's financial crime enforcer AUSTRAC announced an audit of Western Union, the Pacific's largest remittance provider, for gaps in its anti-money laundering systems, including poor customer due diligence, and non-reporting of suspisious transactions. Phelps has pondered whether Nauru could compete with Western Union in the remittance game. "These are just ideas for Nauru to look to develop its capability." Brian Phelps is the newly appointed CEO of Nauru's Command Ridge Virtual Asset Authority. Photo: Facebook / The Government of the Republic of Nauru In most countries, cryptocurrencies have operated within a legal grey area, as more and more businesses begin to accept them as a medium of exchange, without state laws recognising them as legal tender. Over the last few years, nations have begun to bring them within a special legislative framework, with the aim of making them more stable and thus reliable. In the United States, the chief outcome of a week dubbed "Crypto week" by House Republicans was the GENUIS Act, which ruled that cryptocurrencies called "stablecoins" had to be pegged 1 to 1 to the US Dollar, providing them greater stability as an investment. Meanwhile, in countries like China, the use of cryptocurrencies by individuals remains heavily restricted. Pacific Islands have met the rise of crypto with enthusiasm, Phelps said. "In Palau, for instance, they are developing a digital residency program and a stablecoin program in that country (for) cross border transactions. And Fiji and Vanuatu have been investing in opportunities around a central bank digital currency," Around that time, the ABC reported that the Pacific was becoming a "testing ground" for the crypto world. For example, an Oxfam project using blockchain technology for humanitarian aid, which has been supported by MFAT and Australian Aid, used Vanuatu as a testing ground after Tropical Cyclone Harold in 2019. The program, called "UnBlocked", uses a digital payment system with special vendors at aid supply sites, operational across Vanuatu and Papua New Guinea. According to Oxfam, more than 35,000 people in the Pacific have benefited from it. In terms of becoming legal tender, though politicians like Fijian Prime Minister Sitiveni Rabuka have championed crypto, central banks have often cautioned against it. In Tonga, the ambitions of the late Lord Fusitu'a - who passed away in February 2024 - to make Bitcoin a legal tender never panned out. For Tuvalu, the problem is more existential, as climate change threatens the country's infrastructure; indeed the very land it sits on. In 2021, Tuvalu was establishing a "national digital ledger" using a digital currency linked to a blockchain, something that is still in the works.
Yahoo
4 days ago
- Business
- Yahoo
Circle (CRCL) Appoints Adam Selipsky to Board as Director Expansion Signals Strategic Growth
Circle Internet Group (NYSE:CRCL) is one of the growth stocks that could double by 2027. On July 21, 2025, Circle Internet Group (CRCL) announced the expansion of its Board of Directors from eight to nine members, appointing Adam Selipsky to serve on both its Audit and Strategy Committees. Selipsky, now designated a Class III director, will hold the position until 2028 or until a successor is appointed. blockchain The Board confirmed Selipsky's independence per NYSE standards, with no related-party disclosures required under SEC regulations. He will receive compensation in line with other non-employee directors serving on the board. Circle Internet Group (NYSE:CRCL) operates a blockchain-native platform focused on stablecoin infrastructure and services. It issues the widely used U.S. dollar-backed stablecoin and provides enterprise-grade tools for liquidity, payments, tokenized assets, and developer integration across digital finance ecosystems. While we acknowledge the potential of CRCL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
5 days ago
- Business
- Globe and Mail
Hive Digital Technologies: Scaling Up to Shape the Next Era of Bitcoin
A green-powered expansion plan aims to position Hive among the top players in global digital mining In a world where digital finance is becoming less of a concept and more of a cornerstone, Hive Digital Technologies is acting fast. The company is set to quadruple operations in 2025, with a clear goal: to secure 3% of the global bitcoin mining network. What sets Hive apart is its commitment to green energy, building a tech-forward infrastructure that's both scalable and environmentally conscious. With this expansion, Hive isn't just riding the crypto wave—it's laying down long-term roots in the evolving digital asset economy. For those watching the future of finance unfold, Hive's momentum reflects the growing intersection of blockchain, sustainability, and global scale. Published by BTV - The Agency
