Key Highlights: Project Faro is preparing to launch a US dollar-pegged stablecoin before introducing tokens backed by other G7 currencies, prioritizing a euro-pegged asset. The banking initiative has grown from 10 founding financial institutions to 21 international firms, including Bank of America, UBS, Fidelity Investments, and Wells Fargo. The group plans to name a chief ...
Key Highlights: Block Inc. shares jumped 8.1% in after-hours trading following the release of its third-quarter financial results. The Jack Dorsey-led payments company surpassed earnings expectations and lifted its full-year financial guidance. Performance gains were driven by expanded profitability, heightened activity across Cash App and Square, and an initial outlook for 2027. Block Inc. Shares ...
Key Highlights: Only 6% of consumers accurately understand how stablecoins operate, with nearly half viewing them solely as cryptocurrency trading tools, according to research from Visa. Visa is expanding its stablecoin settlement capabilities to support more blockchains, while partner Reap works on local-currency tokens including Hong Kong dollar, Korean won, and Japanese yen assets. Payment ...
Key Highlights: Samsung Galaxy users can now transfer Circle’s $USDC directly to compatible external crypto wallets or eligible bank accounts across more than 60 countries. Transfers sent to bank accounts are delivered in the recipient’s local currency, with Samsung waiving fees for transfers to compatible wallets. Transactions require biometric authentication on registered Galaxy devices and ...
Key Highlights: Global payments giant Visa has teamed up with $ADI Foundation to explore bridging traditional electronic payment rails with institutional blockchain infrastructure. The initiative seeks integration models that allow financial institutions to utilize blockchain technology without dismantling or replacing existing legacy systems. Visa continues its digital settlement push following landmark institutional pilots with Lloyds ...
Key Highlights HSBC has named its forthcoming Hong Kong dollar stablecoin HSBC RedCoin. The stablecoin is planned to launch before the end of the year through PayMe and the HSBC HK Mobile App. Initial use cases will focus on person-to-person transfers and person-to-merchant payments before potential expansion to corporate and institutional applications. HSBC Names Hong ...