Stablecoin

Proposed rules for implementing the GENIUS Act demand close examination. While regulators' intentions are admirable, some of their suggestions threaten to create the very problems they are meant to resolve.

Congress needs to tread carefully as it creates new rules for stablecoins. Some of the proposals currently on the table could lead to a disruptive restructuring of financial services in the U.S.

The company's forthcoming stablecoin, PAYO-USD, is designed to spur increased transaction volume revenue rather than interest income on reserves, a model championed by most stablecoin issuers.

The Bank of England's new guidance changes restrictions following criticisms and concerns about U.S. dominance.

Chair Travis Hill said SVB showed banks can't always sell securities fast enough to cover deposit outflows, but acknowledged the "stigma problem" with discount window borrowing remains unsolved.

Zelle, Western Union, SoFi and others are all launching stablecoins, adding to the thousands of other digital assets that do essentially the same thing as bitcoin.

Early Warning Services' peer-to-peer payment platform Zelle is launching its own stablecoin, ZLUSD, which will allow it to open its network to remittances abroad. India will be the first country.

Analysts say Payoneer is an attractive addition in a market where fast-moving developments in international payments, AI and digital assets are pressuring payment companies to scale quickly.

Independent Community Bankers of America is launching a new campaign comparing community banks with crypto companies, and highlights potential harm that the latter could pose to Main Street.

Segmenting the landscape: How legacy core, money service businesses and stablecoins divide cross-border value

New Jersey-based Provident Bank promoted Annamaria Vitelli to chief wealth officer and president of the bank's wealth management subsidiary; U.S. Bancorp completed its acquisition of the global investment bank BTIG on June 1; Centier Bank has been honored with the Indiana Bankers Association's Commitment to Community Award; and more in this weeks banking news roundup.

In a sea of coins, the transfer firm's CEO says that by working with partners to build its own branded coin, it can control more of the related products and lower costs.

Federal Reserve Bank of Minneapolis President Neel Kashkari said in a speech Tuesday morning that he doubts the usefulness of stablecoin technology in payments and its ability to expand the reach of the U.S. dollar, a perspective that contrasts with many crypto boosters in the Trump administration.

The companies are connecting their tools in an effort to streamline the complexities involved in payments that use digital assets and advanced artificial intelligence.

Block's CEO is more bullish on bitcoin, but stablecoins add another option for the payment company's users to build their spendable balances while furthering the company's super app ambitions.

The digital bank made its SoFiUSD stablecoin available to all members on Wednesday and plans to launch tokenized deposits in the near future.

Even after the passage of federal legislation governing stablecoins, the card network is covering its bases as it pursues more digital asset products.

The crypto exchange, which closed its original direct deposit service in late 2024, has brought it back for users to set up automated digital asset investing.

A proposal from the Federal Deposit Insurance Corp. would require the agency to notify Treasury's Financial Crimes Enforcement Network 30 days prior to major anti-money laundering actions against stablecoin issuers. The rule would also allow issuers to directly share normally confidential information with Fincen during the enforcement process.

Like most payment companies and banks, the stablecoin firm is lining up a suite of services for demand that hasn't quite materialized, but likely will – in some form.