Stablecoins

Two former Citadel engineers have launched Fin, a stablecoin-based app for fast and low-cost high-value cross-border payments. The startup has raised 17 million dollars and plans to pilot the service for businesses that regularly transfer large sums internationally.

Ten major European banks have joined forces to create a euro-backed stablecoin called Qivalis, aiming to launch in the second half of 2026. The token will offer faster, cheaper digital payments and settlements, providing a European alternative to US dollar-backed stablecoins.

South Korea’s government must submit a plan for a unified stablecoin framework by 10 December 2025, or lawmakers may push their own bill. Banks and regulators disagree over control, while private firms are already developing stablecoin projects amid the uncertainty.

Sony Bank plans to launch a US dollar-pegged stablecoin in early 2026 for PlayStation games, anime, and other digital content payments. The bank is working with US partners and regulators to ensure compliance while integrating the coin into its entertainment ecosystem.

China repeated that all crypto activity is illegal and warned of tighter enforcement as underground trading and mining rise again. Officials also singled out stablecoins as a security risk and said they will increase monitoring and crackdowns on cross-border crypto use.

Visa has expanded its stablecoin settlement in parts of Europe, the Middle East and Africa by working with Aquanow, allowing banks to move money using USDC. This shifts payments behind the scenes by making cross-border transfers faster and less dependent on traditional banking hours and middlemen.

South Korea’s KakaoBank has pushed its won-pegged “Kakao Coin” stablecoin into full development, marking one of the most significant blockchain expansions by a major domestic financial institution to date

South Korea’s biggest crypto exchange is set to be folded into one of the nation’s most powerful tech and payments companies, in a multibillion-dollar merger that places stablecoins at the center of Korea’s next major fintech battleground.

South Africa’s central bank is saying no to crypto after calling the digital asset a new risk to the country's financial system. In a report released on Tuesday, the South African central bank noted the growing popularity of crypto in the country, quoting a total of 7.8 million people who are active users.

Pump.fun has secretly transferred more than $436 million worth of USDC to cryptocurrency exchange Kraken following a market meltdown that has resulted in a record $19 billion market crash, throttling retail speculation and sharply reducing activity across memecoin ecosystems.