Latest news with #JPMD
Cision Canada
2 days ago
- Business
- Cision Canada
BTQ Technologies Unveils Quantum Stablecoin Settlement Network (QSSN)
Demonstrates How Quantum-Secure Stablecoin Models for JPMorgan, Tether, Circle, and Others Enter The Quantum future Quantum-Safe Stablecoin Infrastructure: BTQ unveils the Quantum Stablecoin Settlement Network (QSSN), a next-generation framework in development to help banks, payment providers, and digital asset platforms issue and manage stablecoins with built-in protection against quantum-era cybersecurity threats. Demonstration of JPMorgan Use Case: BTQ demonstrates how QSSN could enable a quantum-secure version of JPMorgan's proposed USD deposit token (JPMD), allowing privileged minting, burning, and administrative controls to meet U.S. federal quantum-resilience mandates without altering existing token standards or user workflows. Market Opportunity and BTQ Positioning: With global stablecoin adoption surpassing $225 billion and regulatory timelines accelerating for quantum-proof financial infrastructure, QSSN positions BTQ as a critical technology provider for secure, scalable stablecoin and tokenized asset markets. Policy Leadership: With the GENIUS Act advancing toward federal approval, digitized money is poised to become a formal part of the financial system. BTQ will leverage its decade of collaboration with NIST to propose technical standards that ensure stablecoins and digital currencies are quantum-secure by design and mandated by law. VANCOUVER, BC, June 24, 2025 /CNW/ - BTQ Technologies Corp. (the "Company") (CBOE CA: BTQ) (FSE: NG3) (OTCQX: BTQQF), a global quantum technology company focused on securing mission-critical networks, is pleased to introduce the Quantum Stablecoin Settlement Network (QSSN), a next-generation framework designed to protect stablecoin platforms from emerging cybersecurity risks driven by quantum computing. QSSN will provide banks, payment companies, and digital asset platforms with the tools to issue and manage stablecoins in alignment with evolving regulatory and national security standards. The framework is designed to support a broad range of stablecoin models, including: JPMorgan Chase's proposed USD deposit token (JPMD) Leading fiat-backed stablecoins like Circle and Tether USD Regulated, bank-issued stablecoins such as the forthcoming Fire Labs Stablecoin, which has commenced to power wallets in Kraken and Real-world asset tokens and other next-generation digital payment products Supporting the Next Phase of Stablecoin Market Growth The stablecoin sector has rapidly expanded into a $225 billion market, with growing institutional demand, real-world applications, and regulatory clarity accelerating adoption. As stablecoins become more embedded in global financial infrastructure, governments and regulators are introducing new requirements to ensure their long-term security, particularly in response to the growing capabilities of quantum computing, which threaten to undermine legacy encryption systems. In the U.S., recent federal mandates call for quantum-safe technology across critical infrastructure, including digital assets and tokenized financial products. BTQ's QSSN is designed to help stablecoin issuers meet these requirements by adding a secure, future-proof layer to the most sensitive aspects of stablecoin platforms, without changing how businesses, institutions, or users interact with these digital currencies. Demonstrating a Quantum-Secure JPMorgan Stablecoin BTQ's QSSN provides a clear pathway to future-proof the proposed JPMorgan Chase USD deposit token (JPMD) in line with U.S. federal cybersecurity standards. Recent policies, including National Security Memorandum-10 and the NSA's Commercial National Security Algorithm Suite 2.0, require critical financial systems to migrate to quantum-resistant cryptography before 2030, with many standards already in effect. BTQ's solution would allow JPMorgan—or any issuer of tokenized deposits—to secure their stablecoin platform by upgrading only the core functions used by the bank's treasury or designated operator, such as: Minting and burning tokens Administrative controls, such as pauses or upgrades Initial contract deployment Using BTQ's proprietary CASH hardware and QSSN framework, these privileged transactions will be cryptographically signed with both standard ECDSA keys and quantum-safe Falcon-512 signatures. This allows for compliance with emerging quantum security mandates while preserving all existing token logic, KYC processes, allow-list requirements, and user workflows. The broader stablecoin ecosystem remains unchanged, meaning: Institutional and retail holders interact with the token as they do today Existing wallets, reconciliation processes, and regulatory reporting remain intact Only the issuer's authentication path adopts quantum-safe protections This approach offers improved security with reduced disruption, which will allow major financial institutions to comply with U.S. quantum-resilience policies without overhauling their operational infrastructure. A Market-Ready, Scalable Solution The QSSN framework will enhance security for core stablecoin functions while maintaining full compatibility with existing payment systems and compliance processes. It will enable seamless adoption for both new and existing stablecoin issuers, positioning BTQ as a critical technology provider for secure, scalable digital finance. "The growth of stablecoins is reshaping global payments and financial markets, but these platforms must be built on secure foundations," said Olivier Roussy Newton, CEO and Chairman of BTQ Technologies. "QSSN positions BTQ at the forefront of this transformation, will enable banks, institutions, and innovators to meet emerging regulatory expectations for quantum security, without disrupting user experience or market functionality." Roussy Newton added: "Quantum technologies will be first and foremost widely deployed in digital currencies—and BTQ is positioned to lead the market." Capitalizing on Market Growth and Regulatory Tailwinds Stablecoins have become a critical part of the digital asset economy, powering real-world asset tokenization, payments, cross-border settlement, and yield-generating financial products. At the same time, governments are accelerating timelines for quantum-proofing national infrastructure, presenting both a challenge and a significant market opportunity for technology providers. In the United States, the pending GENIUS Act—a bipartisan bill advancing through Congress—seeks to establish comprehensive federal guidelines for fiat-backed stablecoins, further reinforcing the need for secure, compliant, and resilient digital currency infrastructure. With the introduction of the GENIUS Act and its anticipated approval, there will come a time—sooner rather than later—when digitized money becomes mandated by law. BTQ, having collaborated with NIST and other standards bodies for over a decade, is committed to shaping that future. The Company intends to actively propose technical legislation and standards to ensure that digital currencies, including stablecoins, are built on quantum-secure foundations. With QSSN, BTQ will offer a scalable, revenue-generating platform to support secure stablecoin issuance and management, enabling banks, payment providers, and digital asset companies to confidently meet both market demand and regulatory expectations in the years ahead. For more information about QSSN please visit About BTQ BTQ Technologies Corp. (Cboe CA: BTQ | FSE: NG3 | OTCQX: BTQQF) is a vertically integrated quantum company accelerating the transition from classical networks to the quantum internet. Backed by a broad patent portfolio, BTQ pioneered the industry's first commercially significant quantum advantage and now delivers a full-stack, neutral-atom quantum computing platform with end-to-end hardware, middleware, and post-quantum security solutions for finance, telecommunications, logistics, life sciences, and defense. Connect with BTQ: Website | LinkedIn | X/Twitter ON BEHALF OF THE BOARD OF DIRECTORS Olivier Roussy Newton CEO, Chairman Neither Cboe Canada nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Forward Looking Information Certain statements herein contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: the business plans of the Company, the development of the QSSN; the QSSN enabling a quantum-secure version of JPMorgan's proposed USD deposit coin, Tether, Circle and others and the results therefrom; the QSSN positioning BTQ as a critical technology provide for secure, scalable stablecoin and tokenized asset markets; BTQ's ability to secure mission-critical networks; the QSSN providing banks, payment companies, and digital assets with tools to issue and manage stable coins in alignment with evolving regulatory and national security standards; the QSSN's ability to support stablecoins models; Fire Labs Stablecoin and its powering of wallets in Kraken and stablecoins becoming more embedded in global financial infrastructure; governments and regulators introducing new requirements to ensure their long-term security; the growing capabilities of quantum computing; the QSSN adding a secure, future-proof layer to the most sensitive aspect of stablecoin platforms without changing how business, institutions, or users interact with these digital currencies; the upgrades an issuer of tokenized deposited would be required to make to utilize the QSSN and secure their stablecoin platform; the cryptographical signature mechanics of certain privileged transactions using BTQ's proprietary CASH hardware and the QSSN framework and its ability to allow for compliance with emerging quantum security mandates while preserving certain characteristics and processes; BTQ's proprietary CASH hardware and the QSSN frameworks ability to allow major financial institutions to comply with U.S. quantum-resilience policies without overhauling their operational infrastructure or disrupting user experience of market functionality; the QSSN enhancing security for core stablecoin functions while maintaining full compatibility with existing payment systems and compliance processes; the QSSN framework enabling seamless adoption for both new and existing stablecoin issuers; quantum technologies being deploying in digital currencies; governments accelerating timelines for quantum-proofing national infrastructure; and BTQ offering, through the QSSN, a scalable, revenue-generating platform which supports secure stablecoin issuance and management. Forward-looking statements or information often can be identified by the use of words such as "anticipate", "intend", "expect", "will", "plan" or "may" and the variations of these words are intended to identify forward-looking statements and information. The Company has made numerous assumptions including among other things, assumptions about general business and economic conditions; the development of post-quantum algorithms and quantum vulnerabilities; the successful development and commercialization of the QSSN; and the future of stablecoins, the QSSN, and the quantum computing industry generally. The foregoing list of assumptions is not exhaustive. Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information are based on assumptions and involve known and unknown risks which may cause actual results to be materially different from any future results, expressed or implied, by such forward-looking statements or information. These factors include risks relating to: the availability of financing for the Company; business and economic conditions in the post-quantum and encryption computing industries generally; the speculative nature of the Company's research and development programs; the supply and demand for labour and technological post-quantum and encryption technology; unanticipated events related to regulatory and licensing matters and environmental matters; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting blockchains); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to research and development activities; and other risk factors as detailed from time to time. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
CNBC
2 days ago
- Business
- CNBC
Goldman Sachs and Citadel back crypto firm Digital Asset in $135 million funding round
Crypto company Digital Asset said Tuesday that it's netted $135 million in funding from a raft of major names in banking and finance. The firm, which touts itself as a regulated crypto player, said it raised the fresh cash in a funding round co-led by DRW and Tradeweb, with Goldman Sachs, BNP Paribas and Ken Griffin's Citadel Securities also investing. The investment highlights how large financial institutions are embedding themselves in the once murky world of cryptocurrencies. Previously associated with fraud, money laundering and other illicit activities, digital assets have become a more mainstream asset class over the years as big names like JPMorgan Chase, Goldman Sachs and Morgan Stanley warmed to the space. Just last week, JPMorgan launched its own version of a stablecoin, a deposit token called "JPMD." "With growing participation from global financial institutions and market participants, we expect this funding round to help us solidify our role as the backbone of digital finance," Yuval Rooz, Digital Asset's CEO and co-founder, told CNBC. Digital Asset sells a number of digital asset services to its clients, which include major Wall Street players like Goldman Sachs, Citadel and Virtu. Co-founded in 2014 by trader-turned-entrepreneur Yuval Rooz, it competes with the likes of Ripple, R3 and Consensys. The firm will use the new funding to advance adoption of the Canton Network. Initially developed by Digital Asset but now open-source, Canton is a public blockchain designed for financial institutions to move assets and data around while meeting regulatory and privacy requirements. Banks and trading firms are using Canton to tokenize real-world assets such as bonds, commodities and money market funds. "This raise will allow us to build upon the continuing momentum around the Canton Network and accelerate the onboarding of more high-quality assets, finally making blockchain's transformative promise an institutional-scale reality," Rooz told CNBC. The network now supports trillions of dollars in tokenized assets, according to Digital Asset's CEO.
Yahoo
2 days ago
- Business
- Yahoo
Fiserv launches new stablecoin
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Fiserv said Monday it will launch a digital asset platform – including a new stablecoin, dubbed FIUSD – alongside its existing payments infrastructure by year's end, with no extra cost to merchant clients and financial institutions. In a related announcement, Fiserv and PayPal Holdings said they'll partner 'to build future interoperability' so consumers can move funds with the FIUSD coin on PayPal. The partnership aims to 'expand the use of stablecoins and programmable payments around the globe,' the companies said. 'With our scale, reach, and technology leadership, Fiserv is uniquely positioned to advance stablecoin-powered payments and help democratize access to blockchain financial services,' Chief Operating Officer Takis Georgakopoulos said Monday in the press release. Fiserv said its network's extensive reach – about 10,000 financial institutions and six million merchant locations with 90 billion yearly transactions – 'will provide instant scale' for the FIUSD digital coin. Fiserv also said it's 'exploring the use of deposit tokens to maintain the benefits of stablecoins in a more capital-friendly structure for banks.' The Milwaukee-based company is also talking with other potential partners to expand the use cases for stablecoins and tokenized deposits, the release said. The embrace of stablecoins by large fintech players like Fiserv 'may be quite important to stablecoin adoption for consumers/merchants/businesses,' and could increase wider use of the technology, Baird analysts wrote Monday in a client note. Earlier this month, Fiserv CEO Mike Lyons told investors the company was developing stablecoin capabilities in response to customer interest in cryptocurrency as a potential means of lowering merchant interchange fees. 'It's a great opportunity that plays right into our strengths,' Lyons said June 3 at the Baird Global Consumer, Technology and Services conference. A combination of blockchain programmability and the stability of fiat currency will make the use of stablecoins and tokenized deposits expand rapidly 'due to their ability to settle 24/7, streamline processes, increase efficiency, and power use cases where existing options may be limited,' according to the Fiserv release. The new coin won't affect Fiserv's financial performance this year, but demonstrates the company's rapid innovation, 'which should reinforce its ability to retain share among merchant & financial institution customers as digital asset tech becomes more widely adopted,' TD Cowen analysts Bryan Bergin and Harrison Vivas wrote Monday in a note to clients. Last week, the largest U.S. bank, JP Morgan Chase, announced the launch of its new JPMD, a stablecoin-like token for institutional clients. PayPal and Circle, along with several other companies, have also launched their own stablecoins. Fiserv's stablecoin platform will include technology infrastructure from Paxos Trust and Circle Internet Group. The latter went public earlier this month and has seen its shares soar amid investor fervor for the nascent digital-asset industry, following the embrace of digital assets by President Donald Trump. Fiserv's former CEO, Frank Bisignano, joined the Trump administration this year when he was confirmed last month as the new head of the Social Security Administration. The new Fiserv coin will also be available on Solana, a blockchain platform widely used for stablecoins. In their release, Fiserv and PayPal said they'll 'strive to identify key opportunities for integrating FIUSD and PYUSD into payment flows, including cross-border transactions, payouts, and merchant solutions.' Last week, the U.S. Senate passed the GENIUS Act, an initial step in Congress approving regulations for the cryptocurrency industry. The law, if enacted, is seen as creating wider adoption of stablecoins and more use cases among large banks, retailers, investors and others. The Trump administration has also sought to promote digital assets and blockchain technology, through regulatory agencies by way of a January executive order. Recommended Reading Fiserv CEO embraces stablecoins 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
Coin Geek
6 days ago
- Business
- Coin Geek
JPMorgan confirms plans to launch JPMD ‘stablecoin'
Getting your Trinity Audio player ready... JPMorgan (NASDAQ: JPM) has confirmed that it plans to launch JPMD, a stablecoin-like' deposit token,' which will function like a digital representation of a commercial bank deposit. A spokesperson for the bank revealed the plans to CNBC on June 17, hot on the heels of the financial behemoth filing for a new trademark for 'JPMD,' which kicked off a round of speculation that it was expanding its digital asset activities. According to JPMorgan, JPMD will launch on Coinbase's (NASDAQ: COIN) Ethereum-based Base blockchain. JPMD will supposedly allow for round-the-clock settlement as well as an interest-paying mechanism. However, it will only be available to JPMorgan's institutional clients. 'We see institutions using JPMD for onchain digital asset settlement solutions as well as for making cross-border business-to-business transactions,' global co-head of Kinexys, J.P. Morgan's blockchain unit's Naveen Mallela told CNBC. Rumors around JPMorgan's blockchain plans began to intensify after the JPMD trademark was filed on June 15. The application stated that the trademark is intended to be used in connection with a host of goods and services, relating to digital asset use cases. For example, it cites 'providing trading, exchange, transfer and payment services for digital assets, namely, virtual currency, digital tokens, payment tokens, decentralized application tokens and blockchain enabled currency.' Later, it lists 'Financial services, namely, facilitating the deposit, holding and withdrawal of electronic funds' and 'Financial services, namely, a financial futures exchange for trading currency including digital currency.' Virtually any service you'd feasibly expect JP Morgan to provide in connection with digital assets is covered in the application's description. The acronym JPMD, however, was speculated to refer to a stablecoin offering—JPMorgan Dollar. The trademark application was made under Sections 1(b) and 44(d) of the United States Trademark Act. Section 1(b) filings are used where the company applying for the trademark has a 'bona fide intention' to use the trademark in connection with goods and/or services in the near future. Section 44(d) is used when a trademark application has previously been filed in another jurisdiction—in this case, JPMorgan filed the same trademark application in Singapore on June 11. The timing is notable. The stablecoin question in the U.S. has received increased attention from the public and private sectors over the past few months. The U.S. Senate's Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which is the country's push to fully regulate stablecoin issuance, passed a vote on the Senate floor last month. It specifies who may issue stablecoins and how they must be backed and, in its current form, would require non-publicly listed entities to seek regulatory approval before issuing stablecoins. Perhaps detecting a seachange for stablecoins is on the horizon; the Wall Street Journal reported in May that the largest banks in the U.S. are considering teaming up to launch a stablecoin, including Bank of America (NASDAQ: BAC), Citigroup (NASDAQ: C), Wells Fargo (NASDAQ: WFC) and JPMorgan. It also reported that retailers Amazon (NASDAQ: AMZN) and Walmart (NASDAQ: WMT) were exploring their own stablecoins to shave off transaction fees currently being charged by legacy payment processors. All of this is buoying the stablecoin and broader digital asset markets. Circle (NASDAQ: CRCL), the issuer of one of the most prominent stablecoins, soared to all-time highs this week, reaching $151 a share. Virtually all Bitcoin ETFs are up roughly 5% on the month and around 30% in the past three months. Watch: Blockchain is much more than digital assets title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Yahoo
7 days ago
- Business
- Yahoo
Coinbase stock surges 16% on a fresh wave of momentum from landmark crypto bill
Coinbase stock surged on Wednesday as crypto bullishness jumped after the latest policy developments. Coinbase and other crypto stocks rallied after Congress passed a big bill aimed at stablecoins. Circle stock also soared, ending the session up over 30%. Shares of Coinbase spiked on Wednesday, with the largest US crypto exchange riding a wave of bullishness created by the Senate's passage of the GENIUS Act this week. The stock rose as much as 17% to $297.44, before paring gains slightly. The rally vaulted the shares to a year-to-date gain of 20%. Meanwhile, shares of recently public stablecoin issuer Circle gained 34%. The Senate bill passed on Tuesday aims to establish a regulatory framework for stablecoins, ultimately paving the way for their more widespread use and issuance by more companies. Stablecoins are a type of crypto intended to hold their value steady against fiat money like the dollar. They're backed 1:1 by liquid reserves, such as dollars or cash equivalents like Treasurys. Stablecoins are Coinbase's second-largest revenue driver, directly behind crypto trading, its first-quarter earnings showed. But the company's exposure to the stablecoin market is even higher, as Coinbase is a cofounder of USDC, a popular stablecoin, and receives 50% of the "residual payment base" that its issuer Circle generates from reserves. Circle recently made its trading debut on the New York Stock Exchange, making a splash as one of the year's first major tech IPOs. The newly minted stock rose by as much as 238% on its first day of trading. While the momentum from the Circle IPO has ebbed, it is still up almost 120% in the past month, surging 20% following the news that the Senate passed the GENIUS Act. Stablecoins have even received support from the president, whose family has backed World Liberty Financial. The digital asset firm launched its USD1 stablecoin earlier this year. Circle's big IPO success is an indicator that Wall Street has begun taking stablecoins, and the broader crypto space, more seriously. Even some crypto detractors may be getting more comfortable with the assets. Jamie Dimon has been a vocal critic of cryptocurrencies, but this week, JPMorgan announced it would launch JPMD, a stablecoin-like token for institutional clients. Read the original article on Business Insider 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
