Stripe CEO Patrick Collison has confirmed on X that the company has acquired stablecoin infrastructure firm Bridge, describing...
Stablecoins
Japan is one of the leaders in regulated stablecoins. New legislation that came into force in June 2023 allows for three types of stablecoins.
Banks are allowed to issue stablecoins backed by deposits. And in Japan, there is 100% deposit insurance in certain circumstances. That includes Yen deposits for payment purposes that don't carry interest. However, bank issued stablecoins can only be circulated amongst KYC'd entities.
Legislation also supports trust bank issued stablecoins, which don't require KYC'd end users. Trust banks can issue digital currencies for third parties, including in foreign currencies. However, given deposits are likely to be interest bearing, they won't be fully covered by deposit insurance.
Fed Governor Waller supportive of tokenization, stablecoins
On Friday, Federal Reserve Governor Christopher J. Waller spoke about whether DeFi is a substitute or complement to centralized finance...
Siam Commercial Bank launches stablecoin cross border payments
Siam Commercial Bank (SCB), one of Thailand’s big five banks, has launched a stablecoin solution for cross border payments...