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South African financial regulators have clarified that cryptocurrencies and stablecoins are not legal tender. Crypto Still Excluded From Legal Tender Status South African regulators have reiterated that cryptocurrencies and stablecoins are neither money as defined in the country’s National Payments System Act nor funds, and are therefore not legal tender. In a joint statement, the … Read more
Stanislav Lazarev, Deputy General Director for Sales at A7, believes that the cross-border payments ecosystem will shift toward independent solutions, including digital assets, as participants seek to complete these disbursements while avoiding secondary sanctions imposed by Western countries. A7: Cross-Border Settlements Ecosystem To Change Due To Western Pressure The sheer number of sanctions Russia is … Read more
Circle blacklisted a publicly labeled Ethereum smart contract tied to Zama’s privacy protocol on Saturday, freezing approximately $12.6 million in USDC following a U.S. federal court order connected to a civil lawsuit against Overnight Finance founder Maxim Ermilov. Circle’s Zama Blacklist Freezes $12.6M, Raising Questions About USDC Use in DeFi Contracts The frozen address, 0xe978F22157048E5DB8E5d07971376e86671672B2, … Read more
Falcon Finance has introduced fUSD, a fully reserved stablecoin issued by Anchorage Digital Bank and designed for institutional settlement, collateral, and treasury use. The product includes a rewards structure targeting about 3% annually for qualifying institutional holders. fUSD Offers Regulated Stablecoin With Monthly Rewards for Institutions Falcon Finance has unveiled fUSD, a stablecoin aimed at … Read more
SoFi Technologies has made SoFiUSD available to its nearly 15 million members, becoming the first U.S. national bank to offer a bank-issued stablecoin directly inside a banking application. SoFi Opens SoFiUSD to 15 Million Users, Targets Cross-Border Transfers and Bullish Listing The San Francisco-based company announced the launch on May 27, giving members the ability … Read more
Stable, the USDT-native blockchain, went live this week with StableEarn, a treasury management product that routes USDT deposits into institutional-grade yield through a Morpho vault backed by Theo’s real-world asset suite. Stable Brings Institutional USDT Yield Onchain Through Morpho Vault Backed by Theo Stable‘s announcement, shared with Bitcoin.com News, notes that USDT holds a near … Read more
Tether plans to introduce GELT, a Georgian lari-backed stablecoin developed with support from the Georgian government. The initiative positions Georgia among the first countries to integrate a national currency directly into blockchain-based financial infrastructure under a dedicated regulatory framework. Georgia Positions Itself as Crypto Hub Through Tether Stablecoin Partnership Tether is preparing to launch a … Read more
International Holding Company recently executed a $30 million transaction using the new United Arab Emirates dirham-backed stablecoin. Major Institutional Transaction Executed The Abu Dhabi-based global investment company, International Holding Company (IHC), has executed a $30 million (AED 110 million) transaction using a stablecoin backed by the United Arab Emirates (UAE) dirham, marking the first major … Read more
Malta-based stablecoin issuer StablR suffered a security incident on Sunday, after an attacker exploited a weak multisig configuration to mint millions of unbacked EURR and USDR tokens and dump them on decentralized exchange ( DEX) platforms. EURR Drops 24%, and USDR Falls 37% as StablR’s Two Stablecoins Depeg After Key Exploit Reports say the breach … Read more
The FDIC advanced a proposed rule that would set Bank Secrecy Act and sanctions compliance standards for bank-linked stablecoin issuers. The measure would apply to FDIC-supervised stablecoin issuers and include anti-money laundering oversight, Treasury Department consultation, and enforcement provisions. FDIC Advances Stablecoin Compliance Rule Under GENIUS Act The Federal Deposit Insurance Corporation (FDIC) announced on … Read more