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Techub News reports that global financial regulators have released a report calling for enhanced cross-border information sharing and the development of response plans for stablecoin crises. The report states that multi-issuer structures carry higher risks: affiliated companies can issue the same stablecoin and share responsibilities, while placing reserve assets in different jurisdictions. If holders can redeem from any issuer within the group, redemption demands may concentrate on a single entity. (CoinDesk)
Techub News reports that Shinhan Bank, the second-largest bank in South Korea, has announced the completion of a cross-border remittance pilot project based on Solana's stablecoin company. The pilot aims to seamlessly integrate cryptocurrencies into existing banking systems to revolutionize corporate remittance processes. This pilot primarily addresses the cross-border remittance needs of corporate clients by issuing and transferring stablecoins on the Solana blockchain to achieve real-time, low-cost cross-border settlements, demonstrating the feasibility of integrating traditional financial institutions with blockchain technology in corporate financial scenarios. (Crypto Briefing)
Techub News reported that Patrick Hansen, Director of EU Strategy and Policy at Circle, stated that only 3 out of the top 30 global stablecoins comply with the EU's Markets in Crypto-Assets Regulation (MiCA) requirements. Circle has called on EU policymakers to adjust some clauses in MiCA to broaden the coverage of mainstream stablecoins. (CoinGape)
Techub News reports that Fiserv, a global provider of payment and financial services technology, has announced the official launch of its digital asset platform. Institutional financial clients can now use the stablecoin banking and payment services provided by the platform. This marks an important step in the commercialization process of stablecoins empowering banking services. (Finextra Crypto Channel)
Techub News reports that, according to a report by blockchain data analytics firm Verda, stablecoin liquidity in Latin America is highly concentrated in a few institutions. The report reveals that the region's stablecoin liquidity depends on just 16 companies, and this concentration could pose systemic risks to the regional financial ecosystem, with potential instability hidden. The report points out that excessive concentration of liquidity makes the entire system particularly vulnerable to risk events involving a few key participants. (Crypto Briefing)
Techub News reports that Singapore-based stablecoin issuer StraitsX has announced plans to launch the Singapore dollar stablecoin XSGD and the US dollar stablecoin XUSD on the Layer1 blockchain Monad in 2027. The company stated that XSGD will be the first Singapore dollar stablecoin issued directly on Monad. StraitsX, a subsidiary of Singapore fintech company Xfers, has obtained a Major Payment Institution license from the Monetary Authority of Singapore. This collaboration aims to leverage Monad's high-performance features to provide stablecoin settlement solutions for Web3 applications. (Tech in Asia)
Techub News reports that Bloomberg Terminal has integrated a dashboard powered by Allium, providing terminal users with hourly data on stablecoin supply, issuance, transfers, and activity across blockchain networks. The dashboard is designed to help institutional investors more easily track the dynamics of stablecoins on-chain. (Cointelegraph)
Techub News reports that Steve Daines, a Republican senator from Montana, USA, has introduced a bill aimed at comprehensively reforming cryptocurrency taxation. The bill includes provisions for tax exemptions on stablecoin transactions and introduces wash sale rules for crypto assets. If passed, the bill will simplify tax treatment for digital asset transactions and could impact user trading convenience and investor strategies. (Crypto Briefing)
Techub News reports that the USD stablecoin OUSD launched by Open Standard has been officially issued on Solana. This stablecoin is issued by Stablecoin, and its reserve assets are jointly custodied by BlackRock, Lead Bank, and Bank of New York Mellon. Enterprises can mint and destroy OUSD at a 1:1 ratio for free through the stablecoin platforms of BVNK Finance, Stripe, and Visa.
Techub News reported that the payment giant Stripe has announced that the stablecoin Open USD (OUSD) will be set as the default stablecoin for its commercial payment services. This move aims to reshape commercial payments by sharing economic benefits and improving the efficiency of cross-border transactions. (Crypto Briefing)
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