Photo by BeInCrypto Kakao Bank has reportedly shifted to active stablecoin development under founder Kim Beom-soo, while Naver is finalizing a merger with Dunamu, the operator of Upbit, South Korea's largest crypto exchange. These moves come as lawmakers push forward stablecoin bills that could reshape the country's digital financial landscape. Kakao Accelerates Stablecoin Development According to a local media report, Kakao Bank is building blockchain infrastructure for its planned stablecoin, "Kakao ...

🗞️ Need to catch up on the news? Here's our top 10 from today:🔸 JPMorgan: "Crypto is emerging as a tradable macro asset class."🔹 Acting CFTC Chair Caroline D. Pham seeks CEO nominations for its Innovation Council to tackle crypto and prediction market regulation.🔸 U.S. Bank is testing custom stablecoin issuance on the Stellar network in collaboration with PwC and the Stellar Development Foundation.🔹 Kevin Hassett, Trump’s top economic adviser and a strong supporter of sharp rate cuts, is now seen as the fro ...

Core Viewpoint - XRP has experienced significant growth, outperforming Ethereum, but its future performance is uncertain and depends on the economics of both cryptocurrencies and their value creation from network adoption [2]. XRP's Value Proposition - Traditional banking settlements are slow and costly, taking days or weeks to finalize, with multiple intermediaries involved [3]. - Ripple created XRP to address these inefficiencies, enabling faster and cheaper secure transactions, gaining traction among major banks globally [3]. Investment Thesis and Demand - The investment thesis for XRP hinges on increasing demand from financial institutions using the Ripple network for transfers, which would drive up demand for XRP for network fees [4]. - However, a significant flaw exists as banks can utilize RippleNet without using XRP, allowing them to benefit from efficiency gains while avoiding volatility [4]. On-Demand Liquidity (ODL) - Ripple's On-Demand Liquidity (ODL) utilizes XRP as a bridge asset for cross-border payments, alleviating the need for pre-funded foreign currency accounts [5]. - Despite this, most major banks do not face liquidity constraints that would warrant exposure to the volatile XRP asset [5]. Stablecoin Market Dynamics - Ripple's recent acquisition of Rail, a stablecoin payment platform, indicates a strategic shift towards the stablecoin market, which could potentially undermine XRP's value [6]. - The stablecoin market is projected to be worth trillions, and Ripple's stablecoin, RLUSD, may replace XRP as the primary bridge asset in ODL transactions [6][7]. - In contrast, Ethereum may benefit from the growing adoption of stablecoins [7].

Klarna has launched KlarnaUSD, its first stablecoin and the first bank-issued token to debut on Tempo, a new payments-focused blockchain built by Stripe and Paradigm.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. ...

Core Insights - Clara, a buy now pay later platform, is launching its own stable coin, CLAUSD, to enhance payment efficiency and reduce costs [4][5] - Anamoka Brands plans to go public in the US through a reverse merger with a Singapore-based fintech firm, targeting a valuation of $1 billion by 2026 [6][9] Market Overview - Crypto markets are mixed, with economic data raising hopes for a potential rate cut in December, while consumer confidence has dropped to its lowest since April [2][3] - Bitcoin is trading just above $87,000, while Ether and XRP have seen increases of over 2% and 3% respectively [3] Anamoka Brands' Strategy - Anamoka Brands aims to leverage its extensive portfolio of over 600 companies to provide investors with access to the growing web3 ecosystem, focusing on altcoins rather than just Bitcoin and Ether [16][20] - The company reported $314 million in revenue and $97 million in EBITDA last year, positioning itself as a profitable operating business [19][20] Future Initiatives - Anamoka is set to launch a stable coin initiative and an RWA marketplace, expanding its offerings in the web3 space [21][28] - The company plans to continue investing in various sectors, including AI, DeFi, and gaming, while also supporting startups in the crypto industry [31][32]

US Bank Is Testing a Stablecoin on Stellar Network► https://t.co/fU8sBlL8dY https://t.co/fU8sBlL8dY ...

Group 1 - The article does not provide any relevant content regarding the company or industry [1]

RT CoinDesk Podcast Network (@CoinDeskPodcast)📊 Stablecoin issuers contributed 60% to 80% of total crypto protocol revenue over the past year, dominating earnings by capitalizing on high interest rates.@JennSanasie brings you "Chart of the Day," presented by @cryptocom. https://t.co/MCTr162xMq ...

Core Insights - U.S. Bank is testing the issuance of custom stablecoins on the Stellar network, collaborating with PwC and the Stellar Development Foundation to explore the feasibility of traditional banks issuing programmable money on a public blockchain [1] Group 1: U.S. Bank's Initiative - U.S. Bank's digital asset head emphasized the importance of Stellar's ability to freeze or unwind transactions, which aligns with regulatory requirements such as Know-Your-Customer (KYC) and transaction reversibility, essential for mainstream blockchain adoption by banks [2] Group 2: Stablecoin Market Potential - Stablecoins, which are cryptocurrencies pegged to fiat currencies like the U.S. dollar, are increasingly seen as tools for faster and cheaper cross-border payments, with projections indicating that annual cross-border stablecoin payments could reach $1 trillion by the end of the decade [3]

Core Insights - Klarna Group plc has launched KlarnaUSD, its first stablecoin pegged to the U.S. dollar, marking its entry into the crypto payments sector [1][7] - The stablecoin is built on Tempo, a blockchain co-developed by Stripe and Paradigm, and is currently live on the testnet with a mainnet launch expected in 2026 [1][2] Company Strategy - Klarna is utilizing Open Issuance by Bridge, a Stripe-owned infrastructure, to mint and manage KlarnaUSD, which aims to reduce cross-border payment costs by bypassing traditional systems [2][3] - The company has a significant user base of 114 million and an annual gross merchandise volume of $112 billion, positioning it to potentially reshape global payment systems [2][3] Financial Implications - The introduction of KlarnaUSD could significantly lower operational costs, enhance cash flow, and create new revenue streams through crypto transactions [3] - The global stablecoin usage is estimated to exceed $27 trillion annually, indicating a substantial market opportunity for Klarna as it diversifies beyond its buy now, pay later model [3] Competitive Landscape - Klarna's move into stablecoins differentiates it from competitors like Affirm Holdings, which has captured a significant share of the domestic BNPL market [5] - PayPal has already integrated stablecoins into its operations, launching its own stablecoin, PYUSD, to remain competitive in the digital payment landscape [4]