Latest news with #ACPR
Time of India
6 days ago
- General
- Time of India
India's culture best in the world: Nirbhayananda Saraswati
Dharwad: India's culture is being hailed as the best in the world despite several mediocre historians trying to depict the western culture as superior, said Shri Nirbhayanand Saraswati, chief of Shri Ramakrishna-Vivekananda Ashram, Vijayapura. Speaking at a function to celebrate the 70th year of the visit of philosopher-saint Gurudev Shri RD Ranade to Dharwad and the centenary of the Academy of Comparative Philosophy and Religion (ACPR) organised at Srujana auditorium here on Saturday, Nirbhayanand Saraswati said India's culture has survived several onslaughts because of its inner value-based strength. The seer expressed his disappointment over the "mediocre intellectuals and historians losing their analytical ability". "Some intellectuals are depicting that Manusmriti is Sanatana Dharma. Actually, Upanishads represent Sanatana Dharma. These intellectuals read books written in other languages also and expand the horizon of their knowledge," he said. Stating that Gurudev Shri RD Ranade was a great scholar and philosopher, Nirbhayanand Saraswati said one should read Gurudev's literature to understand Upanishads easily. "Gurudev's literature guides us towards realising the truth," he asserted. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Forget Furosemide, Use This Household Item To Help Drain Edema Fluid WellnessGuide Learn more Undo Nirbhayanand Saraswati released three books — Smrutigandha, Amruta Rasavani and A symbiotic Friendship — penned by Sharad Joshi and Prof Sutar. Secretary of ACPR, Belagavi Maruti Zirli said Gurudev Ranade, who was the vice-chancellor of Allahabad University, had special affinity for Dharwad and he visited the city several times to deliver special lectures on the 'Pathway to God in Kannada literature' at Karnatak University. The ACPR organised the function at Dharwad to commemorate Gurudev's visit to Dharwad, he said. Zirli said the ACPR is working on publishing all the books written by Shri Gurudev and they will be released in Aug. Chairman of the department of philosophy, Karnatak University, Prof BH Gujalar also spoke. Subrahmanya Bhat welcomed the gathering.
Arabian Post
10-06-2025
- Business
- Arabian Post
Bank-Grade USD Stablecoin Debuts on Ethereum and Solana
Societe Generale‑Forge has introduced USD CoinVertible, a fully backed US dollar stablecoin launching on Ethereum and Solana, with BNY Mellon named as reserve custodian. USDCV is the second stablecoin by Societe Generale‑Forge following its euro-pegged EURCV. This institutional-grade token, compliant with MiCA and issued under Societe Generale‑Forge's EMI licence from France's ACPR, will offer 24/7 fiat-to-crypto conversion and multi-currency utility for institutional, corporate, and retail clients—excluding US Persons. Trading is set to commence in early July. Jean‑Marc Stenger, CEO of Societe Generale‑Forge, framed USDCV as the logical progression from EURCV: 'market adoption of stablecoins is growing exponentially,' and the dollar-based token meets clients' demands for institutional-grade stablecoin services. The token is designed to underpin a wide range of on-chain activities, including crypto trading, FX transactions, cross-border payments, and collateral or cash management—supporting seamless settlement across USD and EUR. ADVERTISEMENT BNY Mellon will hold the reserves backing USDCV, reinforcing the stablecoin's institutional foundation. Carolyn Weinberg, Chief Product & Innovation Officer at BNY Mellon, emphasised that 24/7 stablecoin capabilities could enhance operational resilience, generate efficiencies, and unlock novel opportunities across cash, collateral, investment management, and payments. Both USDCV and its predecessor, EURCV, are categorised as Electronic‑Money Tokens, fully regulated under Europe's Markets in Crypto‑assets regulation. Societe Generale‑Forge maintains public transparency on collateral composition, which adheres to high credit and liquidity standards and is updated daily on its website. The MiCA-compliant tokens are poised for distribution through institutional trading venues and exchanges. Demand for fiat-backed digital assets backed by traditional financial institutions is gaining momentum across crypto, with market makers ensuring liquidity, brokers bringing user access, and payment service providers facilitating integration. The move signifies broader momentum in the stablecoin market. Dollar-pegged stablecoins account for the bulk of the industry, with global market capitalisation in the hundreds of billions, dwarfing euro-pegged variants. Societe Generale‑Forge's expansion into USD addresses this scale, positioning the bank as a bridge between traditional finance and decentralised finance. Institutional stablecoins face a competitive landscape. Non-bank issuers such as Circle and Tether dominate the public blockchain scene, while banks like JPMorgan have previously issued tokens like JPM Coin on private networks. USDCV, on a public chain, allows Societe Generale to directly compete as a regulated, EU-licensed stablecoin provider. Expanding beyond Ethereum to Solana adds a strategic dimension: offering cost-effective, diverse blockchain infrastructure to institutional clients and capitalising on Solana's growing ecosystem. Societe Generale‑Forge's regulatory positioning is central. The subsidiary holds licences as an Electronic Money Institution and Digital Asset Service Provider under France's financial regulators, aligned with MiCA's requirements. Both tokens are not registered under the U.S. Securities Act and will only be offered to non-US persons under Regulation S. The broader context sees European institutions cautiously entering the competitive stablecoin space. Euro-denominated tokens like EURCV remain niche, often hindered by stringent reserve rules and slower Euro adoption. Regulatory oversight via MiCA, while enhancing legal clarity, restricts operational flexibility, as highlighted by the delisting of Tether from EU platforms. Societe Generale‑Forge's strategic approach reflects this landscape: build on on-chain euro demand, then expand into the US dollar space where scale and liquidity are strongest. The move supports Europe's ambitions to reduce dependency on US-dollar stablecoins and foster a regulated fiat token ecosystem. Market reaction will hinge on liquidity, brokerage integration, and clearing mechanisms. Partnerships with market makers and payment service providers will shape adoption, alongside listings on crypto exchanges. The involvement of BNY Mellon bolsters institutional trust, signalling that banking-grade reserve practices can coexist with blockchain settlement. Meanwhile, global payment players are integrating stablecoins into mainstream rails. Stripe's stablecoin accounts, Visa and Mastercard's pilot programs, and renewed interest among banks show momentum. These initiatives reflect a broader shift to tokenised fiat as infrastructure rather than niche innovation. As USDCV enters trading next month, key questions remain: will its regulated status prompt flight from unregistered stablecoins? Can it deliver on liquidity and operational efficiency? And does it set a template for future bank-issued tokens within stringent frameworks like MiCA?
Finextra
28-05-2025
- Business
- Finextra
Merge expands stablecoin payment offering with EMI and VASP license activation
Merge, a London-based fintech, has activated its Electronic Money Institution (EMI) licence and Virtual Asset Service Provider (VASP) registration. 0 This marks a major milestone in its mission to modernise global payments. The dual licences, granted by France's ACPR and AMF, position Merge among the few financial infrastructure providers fully regulated to operate across both traditional and blockchain-based payment rails. This enables Merge to offer seamless payments in both local and digital currencies, combining the trust of regulated fiat operations with the speed and efficiency of stablecoin-based transfers. These regulatory permissions allow Merge to support businesses in Europe and across the globe with a broad range of needs, from collecting and holding funds to executing cross-border payments and converting between fiat and digital currencies. The company's infrastructure is designed to eliminate the delays, fees and lack of transparency that have long plagued international money movement. Merge's dual licensing is particularly valuable for companies navigating complex markets, where traditional banking and payment channels are slow, fragmented or unreliable. Whether a business is settling global invoices, repatriating revenue, or paying out to vendors in local currencies, Merge simplifies the entire process through one compliant and scalable platform. This expansion builds on Merge's existing platform, which already serves clients globally. Through a single API, Merge provides a comprehensive suite of services including multi-currency accounts, real-time payments, SWIFT connectivity, named sub-accounts and foreign exchange capabilities. These tools allow businesses to manage global treasury operations more efficiently and automate end-to-end payment flows. 'This is a major leap in making global money movement truly borderless,' said Kebbie Sebastian, Founder and CEO of Merge. 'By merging stablecoins with real-time payment rails, we're enabling businesses to move funds instantly and cost-effectively, without the friction of legacy systems. It's a game-changer for companies that have long struggled with international transfers taking days and a lack of visibility throughout the process.' 'Stablecoins are transforming how money moves globally,,' added Michael Burtscher, COO of Merge. 'With both EMI and VASP licences in place, Merge provides the regulatory foundation needed for organisations to confidently adopt stablecoin-powered payment infrastructure at scale.' This milestone reinforces Merge's commitment to powering the future of cross-border payments for corporates, fintechs and digital platforms operating across both developed and emerging markets. With regulatory approval, institutional-grade infrastructure and a single unified API, Merge is positioned to become a key enabler of seamless, real-time global commerce.
