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Ayandeh Bank has declared bankruptcy amid significant financial losses, impacting over 42 million of its customers as their assets are transferred to the state-owned Bank Melli.
Japan's leading banks are collaborating to issue a stablecoin pegged to the yen, enhancing their corporate settlements and reducing transaction costs.
A consortium of 10 banks aims to secure regulatory approval for a euro-pegged stablecoin set to launch in 2026.
The Bank for International Settlements is set to launch significant digital currency initiatives under the new leadership of Tommaso Mancini-Griffoli.
The landscape of stablecoins is evolving as established banks integrate them into their operations, following regulatory clarifications.
Nordea, the largest bank in Scandinavia, is set to offer a Bitcoin-linked exchange-traded product (ETP) in December, reversing its previous ban on employee cryptocurrency holdings.
Pave Bank, a fintech startup, raises significant funding led by Accel to expand its offerings in programmable banking, integrating crypto and traditional banking services.
Erebor, a financial services firm supported by Peter Thiel, has gained approval from US regulators to operate, potentially filling the void created by Silicon Valley Bank's collapse.
A coalition of major banks is investigating the potential of a stablecoin linked to significant global currencies, which could innovate the digital asset landscape.
A consortium of major banks is considering the launch of stablecoins tied to major fiat currencies to enhance digital asset offerings and compliance.
Fasset obtains approval to provide Shariah-compliant banking solutions using stablecoins, catering to underserved regions in Asia and Africa.
Patrick Collison argues that the rise of yield-bearing stablecoins will compel banks to offer better returns to remain competitive.
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