Stablecoin

Stablecoin

Finance

Crypto infrastructure firm Bakkt jumps 17% on deeper stablecoin payments push with new deal

The firm said it has agreed to acquire Distributed Technologies Research, a blockchain-based payment infrastructure provider.

NYSE/Modified by CoinDesk

Finance

Trump family-linked World Liberty Financial rolls out lending platform for its USD1 stablecoin

The Trump family–backed crypto venture has rolled out World Liberty Markets, a new DeFi app built on Dolomite. DOLO rose by 57% following the announcement.

World Liberty Financial leadership team (Jesse Hamilton/CoinDesk)

Finance

Polygon Labs unveils ‘Open Money Stack’ to power borderless stablecoin payments

The system will bring together various elements of the payment stack, including liquidity, orchestration, and regulatory controls.

Founder of Polygon and CEO Sandeep Nailwal (Polygon Labs)

Tech

Uniform Labs’ Multiliquid targets structural gap in $35 billion tokenized asset market

The new protocol offers instant swaps between tokenized money market funds and stablecoins as regulators scrutinize yield-bearing stablecoin models.

Art installation reminiscent of digital ecosystems

Policy

U.S. FDIC proposes first U.S. stablecoin rule to emerge from GENIUS Act

The banking regulator began its formal rulemaking process to set up the procedures by which depository institutions can start stablecoin subsidiaries.

Acting FDIC chairman Travis Hill

Finance

Most Influential: Guy Young

Young sparked a new category of digital assets, yieldcoins, that sits at the intersection of DeFi rails and TradFi basis trades.

Guy Young

Finance

Most Influential: Oleg Ogienko

Sanctions, capital controls and Russia’s improvised financial plumbing helped create A7A5, a ruble stablecoin built on a currency rarely used in global commerce, allowing it to appear legally at major events even as its presence leaves compliance teams panicked.

Oleg Ogienko

Markets

StraitsX to debut Singapore and U.S. dollar stablecoins on Solana for quick currency exchange

The debut will enable instant swaps between SGD and USD on Solana, facilitating digital forex trading.

Singapore skyline (Mike Enerio/Unsplash, modified by CoinDesk)

Tech

Ripple Expands $1.3B RLUSD Stablecoin to Ethereum L2s via Wormhole in Multichain Push

Ripple said it's testing its U.S. dollar stablecoin on Optimism, Base, Ink and Unichain with more blockchains to be added next year pending regulatory review.

Ripple

Finance

Stablecoin Issuer Circle to Acquire Axelar Developer Interops Assets to Boost Crosschain Tech

The agreement involves folding engineers and IP into Circle (CRCL), while the Axelar network and its token will continue to operate independently.

Jeremy Allaire, Co-Founder, Chairman and CEO, Circle Speaks at Hong Kong Fintech Week in 2024 (HK Fintech Week)