On April 18, Circle launched the CPN Managed Payments network to enable banks to settle stablecoins without needing to manage digital assets directly. This new service alleviates complexities related to custody infrastructure and blockchain operations for financial institutions. On April 23, the Bank for International Settlements issued a report warning that cryptocurrency exchanges are becoming 'shadow banks.' The PUSD stablecoin also deployed on the ADI Chain, targeting the $3T Islamic finance market. Additionally, Morgan Stanley Investment Management announced the launch of the Stablecoin Reserves Portfolio, a government money market fund designed to align with the stablecoin reserves investment requirements of the GENIUS Act.
Morgan Stanley Investment Management (MSIM) has launched the Stablecoin Reserves Portfolio (MSNXX), a government money market fund tailored for stablecoin issuers under the U.S. GENIUS Act. This strategic move directly challenges BlackRock, which currently manages the reserves for Circle, a leading stablecoin issuer.…
Read the full storyOKX has officially integrated BitGo's off-exchange settlement service, marking a significant step in its strategic expansion into the US institutional market. This integration allows institutional clients to execute trades without moving assets into the exchange's hot wallets, effectively mitigating counterparty risk.…
Palm Azgar Finance has officially deployed its Shariah-compliant PUSD stablecoin on the ADI Chain Layer-2 network. The stablecoin's reserves are composed of Saudi riyals and UAE dirhams, both of which are pegged to the US dollar, ensuring regional stability. Notably, PUSD is the second asset to be integrated into a…
The Bank for International Settlements (BIS) has issued a warning that crypto exchanges and DeFi platforms are increasingly functioning as "shadow banks." According to a new report, stablecoin yields and digital earn products mimic traditional banking services, such as maturity transformation and liquidity provision,…
Stripe is aggressively expanding its blockchain infrastructure and stablecoin integration, aiming to position itself as the 'AWS for money' within the digital finance ecosystem. According to Adrien Duchâteau, Stripe’s Crypto GTM Lead, the company is addressing inefficiencies in traditional card systems to streamline…
Ripple has officially launched wrapped XRP (wXRP) on the Solana network, driving the price of XRP up by 5% to $1.50 as ETF assets surpassed $1 billion. Providing technical clarity, Ripple CTO Emeritus David Schwartz explained that the RLUSD stablecoin utilizes a bridging model that prioritizes security and risk…
Eco CEO Ryne Saxe has highlighted that the stablecoin ecosystem is increasingly behaving like traditional foreign exchange (FX) markets due to fragmented liquidity. According to Saxe, large-scale stablecoin transfers are evolving into complex execution challenges rather than seamless on-chain movements. This…
Circle has launched CPN Managed Payments and the USDC Bridge to facilitate native cross-chain transfers, marking a significant step in institutional blockchain adoption. In a parallel development, Mastercard is now testing card payment settlement using the SoFiUSD stablecoin to accelerate clearing processes. This…