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Crypto

Circle\'s euro stablecoin EURC circulation tops 400 million euros

Circle\'s euro stablecoin EURC has exceeded 400 million euros in circulation four years after launch. Dollar-based stablecoins still dominate, with about 98 percent of total stablecoin value denominated in dollars, while euro-linked stablecoins account for less than 1 percent of the global market. EURC has expanded across multiple blockchains and accelerated in supply growth. Circle links the expansion to the EU\'s MiCA framework, alongside widening integration with Visa, Mastercard and payment firms.

AI & Enterprise

ECB warns of shock scenario: Even if AI is real, stocks can still slump

European Central Bank economists warned that U.S. and European stocks near record highs on the back of an AI boom are likely to face a correction. In a blog, they outlined two scenarios: overheated investors pushing prices above fundamentals, and a case where AI boosts the economy but wider uncertainty drives up required risk compensation. They cited past technology revolutions and said euro zone investors may be exposed via funds heavy in the Magnificent 7.

Finance

Woori Bank launches mobile payment service for additional overseas remittance fees

Woori Bank has introduced a service that allows customers to pay additional fees that can arise after an overseas remittance without visiting a branch. The bank said on Aug. 14 it will implement a non-face-to-face foreign exchange fee payment service. Individual users of the Woori WON Banking app can check the amount due, complete security authentication and pay from a won-denominated deposit and withdrawal account in their own name. Cable charges can also be paid this way.