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Mastercard to pilot stablecoin remittance trust checks with Borderless

Mastercard will begin a pilot project with stablecoin payments infrastructure firm Borderless to review trust and verification systems for cross-border stablecoin remittances. The project will test whether Mastercard’s Crypto Credential service can provide signals for approvals, regulatory compliance and risk management in cross-border stablecoin payments. Borderless said compliance issues hinder adoption. Mastercard will not handle fund processing or settlement in the pilot.

Crypto

Only 3 of top 50 stablecoins meet EU MiCA rules, Circle executive says

Only three of the world’s top 50 stablecoins by market capitalisation meet the European Union’s Markets in Crypto-Assets (MiCA) rules, Patrick Hansen of Circle said. The compliant tokens are USDC, USDG and EURC. Hansen said 21 issuers in the EU have already launched about 35 e-money tokens, but only those three satisfy MiCA among the global top 50. He called for stronger competitiveness and global regulatory coordination in MiCA’s review.

Crypto

Robinhood chain TVL rises to $325 million, trading volume falls

Robinhood chain has seen its total value locked (TVL) rise daily to about $325 million less than a month after its mainnet launch. Indicators for trading activity have declined after peaking in the second week of operations. Average daily decentralised exchange volume last week was $553 million, down 27 percent from the prior week, while active accounts averaged about 275,000 a day, down 7 percent. Chain turnover fell to 1.68 times.