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International Business Times
4 days ago
- Business
- International Business Times
U.S. Senate Passes Stablecoin Regulation Bill; Major Banks and Companies Explore Launches
The U.S. Senate has passed a bill establishing a regulatory framework for stablecoins, transforming what was once a niche area of crypto into a fast-growing sector gaining interest from global corporations. Stablecoins are cryptocurrencies designed to hold a stable value—usually pegged 1:1 with the U.S. dollar—and are often used by crypto traders to move funds across tokens. Before becoming law, the Republican-controlled House of Representatives must approve its version of the bill, known as the GENIUS Act, after which it will be sent to President Donald Trump for his signature. Analysts say the bill could be a critical turning point for broader adoption of stablecoins across industries by offering clear legal and regulatory guidance. If enacted, the law would require stablecoins to be backed by liquid assets like U.S. dollars and short-term Treasury bills and mandate monthly public disclosure of reserve compositions by issuers. Here's a summary of leading global firms already active or planning to enter the stablecoin market: MAJOR U.S. BANKS: Top American banks are in early discussions on expanding into crypto, with more support emerging from regulators. However, initial moves will be cautious—limited to pilot projects, partnerships, or selective trading, according to a May Reuters report. Bank of America may launch stablecoins, its CEO Brian Moynihan said this year, while Morgan Stanley CEO Ted Pick expressed interest in acting as a crypto intermediary. BofA declined to comment, and Morgan Stanley didn't respond to Reuters' inquiries. SOCIETE GENERALE: The French bank revealed in June plans to issue a publicly tradable, dollar-backed stablecoin through its digital asset unit. WALMART AND AMAZON: According to the Wall Street Journal, both U.S. retail giants have looked into issuing their own stablecoins. Walmart told Reuters it isn't piloting any such project and hasn't taken a stance on the GENIUS Act. Amazon has not commented. BANCO SANTANDER SA: The Spanish banking giant is reportedly considering expanding into digital assets, including early-stage plans for a stablecoin, Bloomberg reported in May. Santander did not respond to Reuters for comment. WORLD LIBERTY FINANCIAL: Linked to former President Trump, this crypto initiative launched a dollar-pegged token called USD1 this year, which now has a market cap of about $2.2 billion per CoinGecko data. PAYPAL: In August 2023, PayPal became the first major fintech firm to release a U.S. dollar-backed stablecoin, integrating crypto into everyday transactions. CIRCLE INTERNET: The newly public firm introduced its USDC stablecoin in 2018. With a market capitalization of approximately $61.5 billion, it's among the top stablecoins globally, per CoinGecko. PAXOS: This crypto-native company issues USDG and USDP, both pegged to the dollar. It also partners with Binance to issue BUSD, widely used in crypto trading. TETHER: The company behind the largest stablecoin globally, Tether issues USDT, which has a market cap exceeding $155 billion, according to CoinMarketCap. It remains pegged to the dollar. MAKERDAO: MakerDAO's DAI stablecoin is the fourth-largest in the world with a value around $5.4 billion, as per CoinMarketCap data.
The Star
5 days ago
- Business
- The Star
Factbox-Stablecoins gain ground with corporates as US legislation takes shape
A smartphone with the PayPal logo is placed on a laptop in this illustration taken on July 14, 2021. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -As the U.S. stablecoin bill, known as the GENIUS Act, advances in the Senate, a once-niche corner of the crypto industry is gaining rapid traction among global corporates. Stablecoins, a type of cryptocurrency designed to maintain a constant value – typically pegged 1:1 to the U.S. dollar – are widely used by crypto traders to move funds between tokens. Analysts say the bill, if passed, could be a key catalyst for more companies across sectors to adopt stablecoins, as it would provide much-needed regulatory and legislative clarity. Here is an overview of major companies globally that have launched, or are considering launching, their own stablecoins: MAJOR U.S. BANKS: Big U.S. banks are holding internal discussions about expanding into cryptocurrencies as they get stronger endorsements from regulators, but initial steps will be tentative, centering on pilot programs, partnerships or limited crypto trading, Reuters reported in May. Bank of America could launch stablecoins, its CEO Brian Moynihan said earlier this year, while Morgan Stanley wants to work with regulators to see how it can be a middleman for crypto-related transactions, CEO Ted Pick said earlier this year. BofA declined to comment, while Morgan Stanley did not immediately respond to Reuters requests for comment. SOCIETE GENERALE: The French bank said in June it plans to launch a publicly tradable, dollar-backed stablecoin through its digital asset subsidiary. WALMART AND AMAZON: The U.S. retail giants have recently explored issuing their own stablecoins, the Wall Street Journal reported earlier this month, citing people familiar with the matter. The companies did not immediately respond to a Reuters request for comment. BANCO SANTANDER SA: The Spanish bank is mulling an expansion in digital assets, including early-stage plans to offer a stablecoin, Bloomberg News reported in May, citing people with knowledge of the matter. The bank did not immediately respond to a Reuters request for comment on the matter. WORLD LIBERTY FINANCIAL: U.S. President Donald Trump's World Liberty Financial crypto venture launched a dollar-pegged stablecoin this year, called USD1. The token has a market value of roughly $2.2 billion, according to CoinGecko. PAYPAL: The payments giant launched a U.S. dollar stablecoin in August 2023, becoming the first major financial technology firm at the time to embrace digital currencies for payments and transfers. CIRCLE INTERNET: The newly public company launched its flagship USDC stablecoin in 2018. It is now one of the largest stablecoins by market value, with a market cap of $61.5 billion, according to CoinGecko. PAXOS: The crypto-native company issues the Global Dollar stablecoin (USDG) and the Pax Dollar (USDP), both pegged 1:1 to the U.S. dollar. TETHER: The crypto company issues an eponymous stablecoin, which is the world's largest by market value, according to CoinMarketCap. The USDT token, with a market cap of over $155 billion, is pegged to the U.S. dollar. (Reporting by Manya Saini in Bengaluru; additional reporting by Ateev Bhandari; Editing by Shailesh Kuber)
Cision Canada
12-06-2025
- Business
- Cision Canada
HTX May Performance Report: Trading Volume Surges, Assets Grow Steadily, Rankings Rise Across 6 Major Data Platforms
SINGAPORE, June 12, 2025 /CNW/ -- HTX, a leading global cryptocurrency exchange, has released its May Performance Report, highlighting its strategic growth and strengthened market presence amidst a volatile crypto market. Despite Bitcoin's price fluctuating around $107,000 and prevailing market caution, HTX significantly improved its standing, climbing two spots to rank 8th globally among 45 major exchanges in Kaiko's Q2 2025 Spot Exchange Ranking. This achievement designates HTX as the most improved exchange within the Top 10. HTX demonstrated substantial progress across multiple areas in May, including expanded trading activity, branding initiatives, new listings, product innovation, security enhancements, and user engagement. HTX Solidifies Position as a Top-Tier Exchange with Elevated Authority Rankings In Kaiko's exchange ranking, HTX scored the second-highest globally in "Business" and "Technology." Its "Security" performance also received high recognition, positioning HTX among the industry's top exchanges. This upward trend is mirrored across other authoritative crypto data platforms. HTX's CoinGecko ranking soared from 13th to 7th. Its jump from 15th to 9th on CoinMarketCap (CMC) solidifies its reputation as a top-tier exchange for global Web3 users. HTX also holds the 6th position on DefiLlama (North America-focused) and the 3rd on CryptoRank (popular in the CIS region). HTX's consistent ascent in global rankings underscores its steadfast dedication to user asset security, innovative product development, strategic global expansion, and robust service infrastructure. May also saw a notable increase in HTX's trading activity. Active traders grew by 11% MoM, trading volume surged by 33% MoM, and the platform's asset balance rose 11% MoM, marking four consecutive months of positive growth. This highlights growing user confidence in HTX's trading environment, resulting in more consistent capital inflows. HTX Sharpens Its Edge in New Asset Listings, Product Innovation, and Industry Research HTX listed 23 new assets in May, covering stablecoins, meme coins, RWA/DeFi, and InfoFi/AI sectors. USD1, issued by WLFI, made its global debut on HTX and quickly gained traction as one of May's most discussed projects on social media. Meanwhile, SYRUP (Maple Finance), a key RWA/DeFi player, witnessed an impressive 117.7% surge after its May 8 listing. B2, the first meme coin to use the USD1 pool, posted a 40% gain. Other projects, like SOON and NXPC, maintained high social media discussion during their listings by leveraging strong community engagement and platform traffic. HTX rolled out several key product enhancements in May to improve the user experience. These optimizations included launching SEO-optimized Token Detail pages, adding support for custodial sub-account functionality, and implementing multi-asset collateral for margin trading. In May, HTX Ventures, the global investment arm of HTX, released "Industry Insights: Crypto Challenges and Opportunities Amid Macro Noise". This insightful report offers a detailed analysis of key trends and opportunities shaping the current crypto market cycle. Concurrently, HTX Research, the research arm of HTX, published "The New Macroeconomic Landscape and Bitcoin Outlook: An Analysis of Liquidity, Risk Appetite, Policy Dynamics, and Investment Strategy". This comprehensive publication dissects the global macroeconomic environment's influence on the Bitcoin market, assisting global investors navigate the new market cycle's potential risks and opportunities. HTX Prioritizes Security and Transparency to Foster a Trusted Trading Environment Security remains a paramount focus for HTX, with increased measures implemented in May to protect user and platform assets. See details below: HTX remains committed to user asset safety and transparency, evidenced by 32 consecutive months of publicly disclosed asset reserve data. The latest Merkle Tree-based report for June confirms that the platform's overall reserve ratio remains above 100%, with USDT reserves recording positive growth for the third straight month. Throughout May, HTX's customer service team served 138,423 users, resolving 37,851 issues across key areas like P2P trading and on-chain deposits/withdrawals. The team maintained a user satisfaction rate above 83%. At the midpoint of 2025, HTX is accelerating its journey toward becoming a top-tier global crypto exchange, driven by clear strategy, steady progress, and a spirit of innovation. About HTX Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses. As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of "Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance," HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.
Associated Press
10-06-2025
- Business
- Associated Press
HTX Ascends in Global Rankings: Solidifying Web3 Leadership Grounded in User Trust
SINGAPORE, June 10, 2025 (GLOBE NEWSWIRE) -- HTX, a leading global cryptocurrency exchange, is proud to announce its significant climb in comprehensive rankings across multiple authoritative crypto data platforms. This remarkable upward trajectory underscores HTX's burgeoning recognition and reinforces its position as a trusted leader among users worldwide. HTX continues to earn global user trust through its unwavering commitment to excellence in security, trading depth, user experience, and robust ecosystem development, firmly establishing itself as a pivotal force in the Web3 space. HTX's Global Influence Soars as It Climbs Authoritative Rankings CoinGecko: HTX's ranking on CoinGecko, a globally authoritative crypto data platform, has dramatically risen from 13th to 7th place. This achievement not only reflects a notable improvement in the exchange's overall strength but also underscores its outstanding performance in global user activity, security, and transparency. As a benchmark for crypto asset security ratings, CoinGecko's ranking further affirms HTX's continued efforts to optimize its security systems and drive technological innovation. Source: CoinGecko CoinMarketCap (CMC): HTX has secured the 9th spot on CMC, jumping from 15th on the world's most visited Web3 platform. This significant milestone strengthens HTX's status as a top-tier exchange in the minds of global Web3 users, reflecting its rising influence, growing user trust, and expanding international presence in the crypto space. Source: CoinMarketCap DefiLlama: HTX maintains its 6th position on DefiLlama, a key platform for North America. This consistent ranking showcases HTX's active presence and solid market share in the region, supported by its dedication to global regulatory compliance and its commitment to delivering a secure, transparent trading environment to users. Source: DefiLlama Kaiko: HTX has advanced from 10th to 8th position on Kaiko, a respected platform among North American high-end crypto users, and received an 'AA' rating. Kaiko evaluates the comprehensive performance of over 100 mainstream trading platforms worldwide across six key dimensions: governance, liquidity, technology, business capabilities, security, and data quality. This accolade highlights HTX's excellence in business and technological capabilities, as well as its strong security measures, emphasizing its competitive edge in the high-end market. Source: Kaiko CryptoRank: HTX proudly holds the 3rd position on CryptoRank, a popular platform in the CIS region. This ranking showcases HTX's deep market penetration and growing brand strength, reinforcing its status as a trusted international trading platform for CIS users. Source: CryptoRank HTX Builds Global Trust with a User-First Approach HTX's consistent ascent in global rankings underscores its steadfast dedication to user asset security, innovative product development, strategic global expansion, and robust service infrastructure. Guided by its core philosophy of 'Putting Users First and Ensuring the Security of User Assets,' HTX continually refines its security, enhances the trading experience, and delivers diverse, innovative products worldwide. This unwavering commitment has earned HTX widespread global recognition, solidifying its position as a leader in the crypto market. According to official data, HTX has published its asset reserve records for 32 consecutive months, reaffirming its position as one of the most transparent platforms in the industry. Over the past three months, it has seen a remarkable increase in total asset balances. Notably, USDT holdings have surged from approximately 665 million to 1.15 billion, marking a month-over-month growth of over 30% in May. This reflects HTX's commitment to strengthening asset reserves and enhancing user asset protection. Moving forward, HTX will continue to prioritize user needs, driving continuous improvements in platform security, trading depth, and service quality. Our vision is clear: to establish HTX as the world's foremost comprehensive Web3 trading platform. About HTX Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses. As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of 'Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,' HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide. To learn more about HTX, please visit HTX Square or and follow HTX on X, Telegram, and Discord. For further inquiries, please contact Ruder Finn Asia, [email protected] Disclaimer: This is a paid post and is provided by HTX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. 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Globenewswire does not endorse any content on this page. Legal Disclaimer: This media platform provides the content of this article on an 'as-is' basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above. Photos accompanying this announcement are available at:
Crypto Insight
08-06-2025
- Business
- Crypto Insight
Spot Ether ETFs 15-day inflow streak accumulates $837.5M inflows
US-based spot Ether exchange-traded funds (ETFs) have just recorded a third consecutive trading week of inflows. If next week follows suit, the current inflow streak alone may surpass $1 billion in total inflows. On June 6, spot Ether ETFs posted $25.3 million inflows for the trading day, extending the streak to 15 consecutive inflow days, according to Farside data. Ether ETF inflow streak brings in a significant amount of net total The current inflow streak since May 16 has now brought in $837.5 million, roughly 25% of the total $3.32 billion in net inflows since spot Ether ETFs launched in July 2024. If the pattern continues into the coming week, an additional $162.5 million in inflows would push the streak's total to $1 billion. In contrast, spot Bitcoin ETFs saw its inflow streak break on May 29, with $346.8 million in outflows. Since then, flows have been volatile, with a mix between inflow and outflow days. Meanwhile, the spot price of Ether is up 31.23% over the past 30 days, trading at $2,490 at the time of publication, according to CoinMarketCap data. Cointelegraph recently reported that a multi-year gold fractal is making a strong case for an Ether price rally toward $6,000 in the coming months. Technical analyst Crypto Eagles said on June 3 that Ether appears to be repeating in the current 2024–2025 cycle, potentially setting the stage for a new all-time high. Ether's current all-time high of $4,878 was reached in November 2021, according to CoinGecko data. Some industry commentators believe that adding staking to spot Ether ETFs is necessary for a stronger performance in the long run. On May 31, Cointelegraph reported that the first Ethereum and Solana staking ETFs could debut in the United States within weeks following a recent filing by ETF provider REX Shares. ETF analyst James Seyffart said that, while the launch date is still unknown, the firm used 'regulatory workarounds to get these products to market.' Source:
