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Crypto

Citigroup to launch tokenised deposit-based cross-border remittance service in Japan

Citigroup plans to launch a cross-border remittance service based on tokenised deposits for corporate clients in Japan within this year, Nikkei Asia reported on Tuesday. The service will support real-time foreign-currency transfers at night and on holidays, and process real-time cross-border payments between Japan and Citigroup entities in the United States, Britain, Singapore, Hong Kong and Ireland. Citigroup processes about $6 trillion in daily transactions, with about $1 billion a day in tokenised-deposit transfers.

Crypto

Moody\'s prepares to rate stablecoins, focusing on liquidity risk

Moody\'s is preparing to introduce credit ratings for stablecoins, in a move it says reflects the growing mainstreaming of digital finance technology. Fabian Astic (파비안 애스틱), global head of digital economy at Moody\'s, said investors have remained cautious amid confusion over cryptocurrency risks. Moody\'s has disclosed a methodology to assess reserve asset quality, volatility exposure, stress-scenario performance, liquidity mismatches, operational and counterparty risks, legal enforceability, and blockchain and cybersecurity risks.

Industry

SoftBank to produce lithium, cobalt-free batteries targeting AI data centres

SoftBank plans to develop and produce batteries that do not contain costly lithium and cobalt, targeting energy storage for AI data centre networks. Nikkei Asia reported on May 3 that SoftBank will work with South Korean startup Cosmos Lab to produce next-generation zinc-halogen batteries in Japan as early as fiscal 2027. The move aims to address rising data centre power use and strengthen energy security amid intensifying competition in Japan.