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Crypto

Visa, Mastercard, BlackRock take part as institutional stablecoin OUSD set to launch on Ethereum

A new stablecoin, OpenUSD (OUSD), aimed at institutional investors and companies is preparing to launch on the Ethereum network. The project is backed by a consortium of more than 140 firms, including Visa, Mastercard, Stripe, BlackRock and BNY. Details such as the launch timetable, issuance structure, reserve assets, redemption method and compliance system have not been disclosed. Markets are watching how much institutional capital it can attract.

Crypto

Hanwha Investment & Securities invests 30 billion won in U.S. blockchain firm Digital Asset

Hanwha Investment & Securities has invested about 30 billion won in Digital Asset, a blockchain infrastructure company focused on global finance. The company said on July 16 it completed a strategic investment of about 30 billion won in Digital Asset Holdings. New York-based Digital Asset operates the Canton Network, an open blockchain for financial services adopted by major institutions including Goldman Sachs and the Depository Trust & Clearing Corporation.

Crypto

Former BIS head who targeted stablecoins signals shift, says they should coexist with fiat money

Agustin Carstens, former general manager of the Bank for International Settlements, has eased his stance on stablecoins and publicly mentioned the possibility of their coexistence with fiat money. Speaking at the Point Zero Forum, he said stablecoins could contribute to financial innovation, inclusion and lower costs, and called for conditions enabling coexistence. Analysts say the BIS stance has not changed, as it continues to warn of trust and stability risks.