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Crypto

Money flows into \'digital dollar\' stablecoins, shaking banks and national monetary systems

Stablecoins are spreading as a near real-time, 24-hour tool for moving money, raising concerns they could accelerate outflows from bank deposits and national currencies during financial stress or sharp currency declines. The European Central Bank has flagged potential liquidity mismatches between round-the-clock redemptions and reserve assets that move on traditional settlement schedules. The BIS also found stablecoin flows tend to rise alongside foreign-currency deposits in crisis situations.

Crypto

Digital asset alliances emerge as banks, brokerages and asset managers race to team up

South Korea\'s financial sector is moving competitively to form digital asset alliances, as brokerages expand exchange investment and token securities while banks and asset managers accelerate partnerships. Shinhan Financial Group signed an agreement with Visa to verify stablecoin platform functions and design models for the domestic market. Woori Bank and Coupang completed a proof of concept for real-time settlement. K Bank, Toss and Jeonbuk Bank also announced tie-ups, while some banks invest directly in custody firms as lawmakers debate digital asset legislation.

Crypto

Flare targets XRP and bitcoin DeFi integration to attract institutional funds

Flare Networks is pushing to expand its DeFi connectivity from XRP to bitcoin, with CEO Hugo Philion saying it plans to extend its FAssets technology to bitcoin via a wrapped token, FBTC. Flare aims to turn major cryptocurrencies that are hard to use directly in DeFi into programmable assets. It has issued more than 150 million FXRP and targets attracting up to 5 billion XRP within six months. Flare says its FCC confidential computing could reduce full disclosure of transaction information for large participants.