Industry Adoption - Western Union joins Paypal, Fiserv, and other payment giants building on Solana [1] - Major payments incumbents need a chain that isn't owned by a single BigTechCo; they need neutral rails, scale, and trust, which Solana provides [1] Solana's Advantages - Solana offers neutral, trusted, global infrastructure that scales to millions [1] - Solana doesn't require a specialty Layer 1 (L1) [1]

Core Insights - Circle Internet Group has launched a public testnet for its layer-1 blockchain network, Arc, with participation from over 100 organizations across finance, business, and technology sectors [1][2] - The Arc network is Ethereum Virtual Machine (EVM) compatible and utilizes USDC as its native gas token, designed for predictable fees, quick transaction finality, and stablecoin functionality [2] - The launch of Arc is part of a productive growth cycle for Circle, with analysts predicting significant growth for the company [3] Company Developments - Rothschild & Co Redburn initiated coverage of Circle Internet Group on October 3, assigning a "neutral" rating with a price target of $136, while the stock is currently trading at $139 [4] - Clearbank has signed a strategic agreement with Circle to integrate USDC and EURC stablecoins in Europe, aiming to enhance cross-border remittances and explore treasury and tokenized asset settlement [5]

Explore Messari's Stablecoin Dashboard: https://t.co/DQLQeNYk2l ...

USDC stablecoin issuer Circle launched the public testnet for its Layer-1 blockchain network Arc Tuesday, with participation from over 100 companies including BlackRock, Visa and Amazon Web Services. Circle CEO Jeremy Allaire said the project has “remarkable early momentum,” in a press release. “Arc presents the opportunity for every type of company to build on enterprise-grade network infrastructure—advancing a shared vision that a more open, inclusive, and efficient global economic system can be built n ...

Bank of Korea Warns on Stablecoin Depeg Risks, Says Banks Should Lead► https://t.co/6xQAqMQaab https://t.co/6xQAqMQaab ...

Core Viewpoint - The Bank of Korea (BOK) has raised concerns about won-denominated stablecoins, emphasizing the need for institutional trust and urging traditional banks to take a leading role in their issuance [1][4]. Group 1: Risks of Stablecoins - The BOK's main concern is "depegging risk," where stablecoins fail to maintain their promised 1:1 value with the underlying currency, citing the Terra/Luna crash as a significant example [3][4]. - The report highlights that even major dollar-pegged stablecoins, such as USDC, are susceptible to depegging, referencing its drop to $0.88 during the Silicon Valley Bank crisis [3]. - Concerns are particularly acute for non-dollar stablecoins with limited circulation, with euro-pegged stablecoins also deemed "particularly vulnerable" [4]. Group 2: Trust and Innovation - The BOK asserts that currency relies on trust rather than technology alone, challenging the belief that blockchain innovation can guarantee stability [2]. - The central bank does not aim to hinder innovation but seeks to promote safe and sustainable advancements in the stablecoin sector [4]. - The report stresses that the primary question regarding won-denominated stablecoins should focus on the possibility of trust rather than the feasibility of technology [4]. Group 3: Regulatory Framework - The BOK emphasizes that private issuers of stablecoins must demonstrate a high level of "publicness" and establish institutional mechanisms to mitigate risks if the 1:1 promise is broken [5]. - The report warns that if issuers fail to manage reserve assets properly or if those assets decline in value due to risky investments, the stability promise cannot be upheld [6].

Stablecoin giant Tether is looking at spending money on US elections as it prepares to open a US entity and is considering options other than the PAC that has won the support of big companies https://t.co/qMmp4kMsax ...

Core Insights - Tether is projected to generate approximately $15 billion in revenue this year, equating to $41 million daily, $1.7 million hourly, $28,538 per minute, and $475 per second, indicating a strong bullish sentiment in the market [1] - If Tether continues its rapid growth, it could potentially manage $3 trillion in assets, leading to revenues surpassing the $120 billion annual earnings of Saudi Aramco [2] - Tether's USDT stablecoin is backed by low-risk assets that yield returns, benefiting from rising interest rates during the pandemic, contributing to its profitability [3] Company Financials - Tether's market capitalization stands at $183.2 billion, reflecting a 50% increase compared to the previous year [3] - The company holds 87,475 BTC, valued at nearly $10 billion, making it a significant player in the Bitcoin market [4] - Tether is reportedly seeking to raise $20 billion for a 3% stake, which would value the company at approximately $500 billion, positioning it ahead of Netflix and Samsung [5] Investment Strategy - Tether has diversified its investment portfolio, including a stake in the Italian football club Juventus, where it has become the second-largest shareholder [6]

COMMENT: Coinbase’s institutional division already partners with over 250 financial firms, giving it a strong lead in compliance and security.BSCN (@BSCNews):CITI AND COINBASE TO PILOT STABLECOIN PAYMENTS FOR INSTITUTIONS- Citigroup, one of the world’s largest banks, teams up with Coinbase to pilot on-chain stablecoin payments for institutional clients, per Bloomberg.- Citigroup’s Head of Payments, Debopama Sen, said the bank is https://t.co/VawCwuQ3Dt ...

Daily News 🗞 | Oct 28• BTC price eyes record monthly close• Sharplink gaming adds $80M in Ethereum to strategic reserve• Zcash price jumps over 30% in a day• Mt. Gox extends repayment deadline by one year to 2026• Western Union pilots stablecoin settlement system to modernize remittances#CryptoNews #PoloniexNEWS ...