Sony Bank received preliminary approval from the Office of the Comptroller of the Currency to establish a US stablecoin issuance business, with $40 million in starting capital. Sony Bank, a subsidiary of Sony Financial Group, said it’s received preliminary approval to establish a new US national trust bank subsidiary that will issue US dollar-denominated stablecoins....Continue Reading

Interpol said a suspect’s crypto wallet processed over $122.5 million in 10 months as authorities uncovered the scheme during a global anti-fraud operation that led to 5,811 arrests. A crypto wallet linked to a suspected romance-scam money launderer processed more than $122.5 million in 10 months, according to Interpol, as authorities expanded a global crackdown...Continue Reading

Revolut said USDT support remains unchanged outside EEA and Switzerland as it winds down the stablecoin offering in selected European markets. Revolut, a crypto-friendly digital banking platform, said its Tether USDt (USDT) delisting will not affect all customers globally. The delisting will affect Revolut customers in the European Economic Area (EEA) and Switzerland, while support...Continue Reading

Bitcoin spot ETFs posted a fresh net outflow on Wednesday as analysis said that their “most overwhelming” outflow streak had ended without a clear demand recovery. Bitcoin (BTC) institutional demand is “not yet strong” despite positive inflows to the US spot Bitcoin exchange-traded funds (ETFs). Key points: Read moreContinue Reading

Perpetual futures and Hyperliquid’s blockchain infrastructure are expanding into traditional asset classes with around-the-clock trading, according to Pantera Capital. Perpetual futures are on track to become one of the dominant trading instruments in global finance, with decentralized exchange Hyperliquid demonstrating how blockchain-based infrastructure could challenge traditional markets, according to Pantera Capital. The blockchain-focused asset manager...Continue Reading

The Bank of Korea reiterated its call for bank-led won stablecoin issuance while advancing deposit token pilots, as issuer rules remain a sticking point in South Korea’s digital asset bill. The Bank of Korea (BOK) has doubled down on its stance that won-denominated stablecoins should first be issued through bank-led consortiums. According to local reports...Continue Reading

Alfa-Bank is testing cryptocurrency trading for qualified investors as Russia moves toward regulating digital assets and banks prepare new crypto services. Russia’s largest private bank, Alfa-Bank, is reportedly preparing to offer cryptocurrency services as the country continues developing a legal framework for the digital asset market. Dmitry Vitman, chief operating officer of Alfa-Bank’s corporate and...Continue Reading

Binance is exploring new licensing paths into Europe while continuing to expand its regulatory footprint in Asia, says co-CEO Richard Teng. Binance is in talks with regulators that have invited the exchange to apply for crypto licenses following its withdrawal from the Markets in Crypto-Assets Regulation (MiCA) application in Greece, according to co-CEO Richard Teng....Continue Reading

SWIFT launched its new blockchain ledger that will host a tokenized bank deposit pilot for 17 major banks seeking faster cross-border payments. The world’s largest financial messaging network, SWIFT, said its blockchain-based ledger is ready for initial use after nine months of development. Seventeen major banks, including HSBC, Citi, BNP Paribas, UBS, ANZ, DBS and...Continue Reading

Hackers have also been exploiting the codebases of defunct decentralized finance protocols, draining millions of dollars in customer funds. Blockchain security experts are urging crypto protocols to reaudit their smart contracts as AI tooling is making it easier for hackers to identify vulnerabilities more quickly than ever before.  “Our data argues for continuous review rather...Continue Reading