Stablecoin

Image by Ledger Insights Last July Standard Chartered Bank Hong Kong announced a collaboration with Hong Kong Telecom (HKT) and web3 firm Animoca Brands to explore stablecoin issuance as part of a Hong Kong sandbox. Now the bank says it is creating a joint venture with the same partners in order to apply for a license …

StanChart forms JV for HK stablecoin with HK Telecom, Animoca Brands Read More »

Image by Ledger Insights Standard Chartered has partnered with Singapore stablecoin issuer StraitsX to provide cash management and custody services for two of its stablecoins in Singapore dollars and US dollars. StraitsX provides the most popular Singapore dollar stablecoin XSGD and has been involved in numerous trials run by the Monetary Authority of Singapore (MAS), including …

StanChart partners stablecoin issuer StraitsX Read More »

Image by Ledger Insights Brazil’s Braza Group has launched a Brazilian Real stablecoin BBRL. The issuance is particularly significant because its primary activity is as a foreign exchange (FX) bank. During the first half of 2024 it was involved in US$30 billion of transactions. It ranks sixth in the central bank’s interbank markets and has …

Brazilian FX bank Braza launches stablecoin Read More »

Image by Ledger Insights Yesterday PayPal held its first investor day under new CEO Alex Chriss, where it briefly touched on its cryptocurrency activities. To date, the stablecoin has mainly been used within the crypto ecosystem, despite being available via the PayPal app and Venmo. PayPal intends to change that by rolling it out for …

PayPal plans to use stablecoin for merchant payments, mass payouts Read More »

Image by Ledger Insights Today the ruling Democratic Party of Korea introduced the Basic Digital Asset Act at a press conference. The draft legislation aims to allow non banks and payment providers to issue stablecoins, and also relaxes rules for crypto exchanges, enabling them to participate in lending and choose which tokens to list. Under …

Korean legislation plans to remove stablecoin oversight from central bank Read More »

Image by Ledger Insights During a press conference yesterday Thailand’s Minister of Finance, Pichai Chunhavajira, discussed plans to issue a Thai Baht stablecoin backed by government bonds. The launch target is October. It follows previous reports of plans to use Bitcoin and cryptocurrencies as payments on the holiday island of Phuket. However, former prime minister …

Thai government plans Baht stablecoin backed by gov bonds Read More »