The ministry plans to reduce payment costs and improve access to financial services, especially for underserved communities and various socio-economic groups, leveraging digital solutions.
Certificate of Deposit tokens are becoming more popular among South Korean banks as stablecoin alternatives.
Key Takeaways : Shinhan Bank, a prominent financial institution in South Korea, has taken a momentous step in potentially transforming the remittance sector. The bank is currently conducting tests for stablecoin payments on the advanced Hedera network. This blockchain platform…
 With increasing numbers of individuals turning to cryptocurrencies due to the inefficiencies of traditional payment systems, the CEO warned that the dollar's dominance is at stake.
. The exploit resulted in the loss of over $126 million worth of various tokens, prompting Circle and Tether to freeze more than $65 million in associated assets.Â
The report highlights instances that have raised concerns about the stability of stablecoins, such as the de-pegging of Terra's stablecoin and a notable run on Tether.
Tether, the stablecoin issuer, did partially back its stablecoin with Chinese stocks for a while, despite refusing to confirm it at the time.
Progmat Coin will facilitate the issuance of bank-backed stablecoins on various public blockchains, including Ethereum, Polygon, Avalanche, and Cosmos
A New York legislator recently introduced a new measure that encourages the use of fiat-collateralized stablecoins as a legitimate means of paying bail bonds.
The House of Representatives document repository has been updated with a new draught bill proposing a framework for stablecoins in the United States. The first notable cryptocurrency legislation of 2023 is the stablecoin bill.
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