Kakao Pay, KakaoBank to explore stablecoin opportunities with Fireblocks
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Visa works with Upbit parent on stablecoin payments, AI commerce
Visa and Dunamu will explore stablecoin payments and remittances, with Open Standard’s proposed OUSD among several projects under review.
Swyftx has obtained an Australian financial services license and is seeking opportunities in the cryptocurrency payments sector.
According to Foresight News , citing Cointelegraph, Australian cryptocurrency exchange Swyftx has obtained an Australian financial services license, indicating its intention to explore opportunities in the cryptocurrency payments sector. The license allows Swyftx to offer derivatives such as cryptocurrency options or futures to retail customers and authorizes it to provide non-cash payment services, enabling the fintech company to offer payment services to both business and retail clients. Swyftx interim co-CEO Andrea Yuen stated that after obtaining a license to provide payment services, the company "will no longer be a pure cryptocurrency spot exchange." Swyftx does not currently hold an AFSL license for spot cryptocurrency trading.
NDV Founder: Closely monitoring Circle's pullback opportunities; stablecoin competition is beneficial for expanding the crypto market.
According to Odaily Odaily, Jason Huang, founder of NextGen Venture (NDV), stated that the firm had previously successfully issued an early warning of a potential pullback in Strategy (MSTR), and is now doing the opposite, adding Circle (CRCL) to its watchlist to look for opportunities when market sentiment is under pressure. Jason Huang analyzed that Circle's stock price fell by about 14% yesterday due to concerns about increased competition arising from the joint launch of OpenUSD by multiple financial institutions. However, this logic was misinterpreted by the market: the entry of large institutions will not shrink the stablecoin market size; on the contrary, it may expand the overall "pie." Currently, the total global stablecoin market capitalization is only about $317 billion, and the industry is still in its early growth stage. Historical experience shows that payment and financial projects jointly promoted by multiple parties often fail due to inconsistent incentives, such as Libra. Therefore, in the long run, it may not change the core competitive landscape. Jason Huang revealed that Circle has been included in the few tradable stablecoin-themed US stocks. Although he has not yet given a clear target price or an immediate plan to build a position, he said he will focus on tracking its quarterly performance and fundamental changes.
Stablecoins not credible for payments at scale, BIS chief says
BIS chief Pablo Hernández de Cos said stablecoins lack credibility for payments at scale, while a new FSI study highlights sharp differences in issuer rules.
Zhang Yuhang, Beijing Municipal Bureau of Economy and Information Technology: Developing the word-based economy and exploring business models such as quantity-based pricing, performance-based payment, and subscription-based hosting.
According to Mars Finance, Zhang Yuhang, a second-level inspector of the Beijing Municipal Bureau of Economy and Information Technology, stated on July 8th that the next step will be to create a new form of intelligent economy. This includes developing a word-based economy, building word-based factories, and exploring business models such as quantity-based pricing, performance-based payment, and subscription-based hosting; accelerating research and development of key technologies for embodied intelligence and robot products, and improving the systematic evaluation capabilities of robots; supporting the innovative development of intelligent terminals such as smartphones, smart computers, smart glasses, and smart homes, and improving the pilot-scale testing service system. (Beike Finance)
South Korean fintech company Toss is partnering with Optimism and Sunnyside Labs to explore stablecoins in the Korean won.
PANews reported on July 8th that, according to The Block, South Korean fintech company Toss is collaborating with Optimism and Sunnyside Labs to explore a won-denominated stablecoin. The three parties will conduct proof-of-concept trials in the coming months to test the application of OP Stack in compliant blockchain digital financial infrastructure.