Sumitomo Mitsui Financial Group (SMFG), the parent company of Japan’s second-largest bank SMBC, is preparing to launch a stablecoin in partnership with blockchain firm Ava Labs and crypto infrastructure provider Fireblocks, according to a report by Nikkei on Tuesday.Ava Labs, the developer behind the Avalanche blockchain, is expected to build the technological foundation for the stablecoin, while Fireblocks will handle token management and security systems.The project is currently in its planning phase, with trials slated to begin in the second half of 2025.SMBC Could Launch Stablecoin as Early as Next Year, Report SaysIf successful, SMBC could issue the stablecoin sometime…
Author: cryphedge
Stablecoin issuer Circle has submitted an IPO S-1 document to the US Securities and Exchange Commission (SEC) stating that Binance became the first approved participant under the stablecoin ecosystem agreement in November 2024. As per the IPO S-1 document, Binance needs to promote USDC on its platform and hold a certain amount of USDC in its fiscal reserves. Circle and Binance Join Hands for USDC Promotion Some newly public info from Circle’s CRCL Form S-1 $60M one-time fee to Binance who needs to hold $1.5B USDC minimum pic.twitter.com/5Ej44tnI1i — Nick Cannon (@inkymaze) April 1, 2025 For the promotional purpose, Circle…
Russia is moving closer to selling Bitcoin confiscated during criminal investigations as officials work to create a legal structure for handling such digital assets, local media outlet RBC reported.According to the report, Russia’s Federal Bailiff Service, in coordination with other government agencies, is leading efforts to turn seized crypto into government revenue.Dmitry Aristov, head of the Federal Bailiff Service, confirmed that the authorities are developing a legal and operational mechanism to convert seized Bitcoin into state revenue.The initiative is expected to begin with a high-profile case involving a former official caught in a crypto bribery scandal.In June 2023, Russian investigators…
Sony Electronics Singapore now accepts USDC payments via Crypto.com, marking its first step into direct crypto transactions locally. Despite scrutiny over reissuing CRO tokens, Crypto.com continues expanding through EU licensing and an ETF deal with Trump Media. Sony Electronics Singapore has officially opened the door to payments using USDC, a stablecoin pegged to the US dollar. Through a partnership with Crypto.com, purchases on Sony’s online store can now be made using crypto. While not everyone can buy a PlayStation using Bitcoin yet, this is an interesting first step for the local market. However, this payment is still limited to USDC…
The cryptocurrency industry has witnessed the arrival of several celebrities. While some have maintained a rather low profile, a few others have been vocal about their interest in the market. Elon Musk has been part of the latter group. Musk’s interest in Dogecoin (DOGE) has been making headlines for several years now. This has even benefitted the meme coin in terms of price growth and adoption. So how much would an investment made during his first tweet grow into today?Also Read: XRP ETF on Horizon? Grayscale’s Strategic SEC FilingHow High Is Dogecoin Trading Today?Source: Watcher GuruDogecoin managed to rise throughout…
Just before the end of Q1 2025, the much-awaited rounds of a closure of the Ripple vs. SEC made huge rounds across the crypto space. It was seen as a huge win for the crypto community, which could have a huge positive impact on the XRP price in the long term. Meanwhile, the price experienced a short-term positive impact that soon faded and compelled it to remain consolidated around $2. After the pullback from $2.5, the price is struggling to hold the support at $2 and if the token breaks below the range, a 25% pullback could be imminent. Setting aside…
The start of the second quarter is bullish for the Solana (SOL) price as the levels surpass $125 after a tight consolidation. Although SOL-based tokens are gaining momentum, the value of the native token remains unaffected. Does this suggest the market participants have shifted their focus away from the token? Will the SOL price continue to remain consolidated below $130?The SOL price is speculated to be under bearish influence, with a high risk of falling back to $100 in the coming days. The main reason behind the bearish narrative is the formation of a bearish flag in the daily chart.…
South Korean police are hunting for three foreign nationals accused of fleeing the country after stealing 240 million won ($163,000) in cash as part of an OTC USDT trade.Officers in Incheon said one of the suspects is a Russian national, while the other two are from Kazakhstan, News1 and TV Chosun reported.Incheon Seobu Police Station announced on April 1 that they plan to hand all three suspects over to the prosecution service. However, it conceded that the trio, all aged in their 20s, remain at large.South Korean Police Note Rise in OTC USDT CrimesPolice have requested that Interpol issue a…
American Bitcoin, a US-based Bitcoin mining company jointly created by Hut 8 and American Data Centers, has been planning to go public and may even plan to introduce private equity investment before that. Note that American Data Centers is a data infrastructure company led by the Trump family. American Bitcoin to Go Public In a recent interview with Bloomberg TV, Hut 8 CEO Asher Genoot said that the company aims to create a vertically integrated corporate structure consisting of “two sister listed companies.” Among the sister companies, one would be responsible for energy, data centers, and infrastructure, while the other…
Key Takeaways: Coinbase CEO Brian Armstrong argues that stablecoin holders should be allowed to earn interest, similar to traditional savings accounts. With major stablecoin bills moving through Congress and a pro-crypto administration in place, Armstrong sees this as a crucial moment to shape consumer-friendly policies in the U.S. The discussion comes as World Liberty Financial, a crypto platform tied to Donald Trump’s family, prepares to launch its own stablecoin. Coinbase CEO Brian Armstrong took to X on Monday to make a case for why the U.S. should allow stablecoin holders to earn interest similar to a traditional savings account, generating…
