BDACS has officially launched KRW1, a South Korean won-backed stablecoin, following the successful completion of a proof of concept that validated its technical readiness. Each KRW1 token is fully collateralized with won held in escrow at Woori Bank, with real-time API integration ensuring verifiable proof of reserves. Woori Bank directly participated in the pilot, underscoring the role of banks in stablecoin ecosystems. KRW1 debuted on the Avalanche blockchain, chosen for its scalability and reliability. Ava Labs, Avalanches developer, said the pilot highlights demand for a high-performance...

DBS Group has joined forces with U.S. asset manager Franklin Templeton and blockchain firm Ripple to expand tokenised finance for accredited and institutional investors. The collaboration introduces trading and lending services on the DBS Digital Exchange using Franklin Templetons tokenised money market fund and Ripples U.S. dollar stablecoin, RLUSD. Singapores largest bank confirmed it will list Franklin Templetons sgBENJI token, which represents units of the tokenised U.S. dollar money market fund, alongside Ripples RLUSD stablecoin. This setup enables investors to seamlessly swap between...

SOMI is trading near $1.30, gaining almost 5% in the last 24 hours and 10% over the week. Despite these gains, the token remains volatile, showing sharp rebounds and corrections in short windows. Just yesterday, Somnia briefly touched $1.53 before pulling back, highlighting persistent selling pressure. However, technical and on-chain signals now point toward a potential rebound. The Smart Money Index (SMI), which tracks moves by seasoned traders, has formed a higher high since September 13. This suggests renewed interest from traders targeting short-term rebounds. For confirmation, the SMI...

In a landmark move, the U.S. Securities and Exchange Commission (SEC) has approved generic listing standards for cryptocurrency exchange-traded funds (ETFs). This change eliminates the need for case-by-case approvals, enabling issuers to launch crypto ETFs more efficiently, provided they meet regulatory criteria. The decision follows proposals from Nasdaq, CBOE, and NYSE Arcamajor exchanges used by ETF issuers. By approving these standards, the SEC aims to streamline the process for Commodity-Based Trust Shares, which cover digital assets classified as commodities. This could pave the way for...

Solanas recent bullish momentum hit a pause with a sudden market downturn, yet investor confidence remains strong. Despite todays pullback, institutional and retail traders continue to show optimism toward Solanas long-term potential. Data from Coinglass reveals that open interest in Solana futures on CME surged more than 6% in just 24 hours, with users committing approximately $1.91 billion worth of SOL on the exchange. The spike in futures activity coincides with CME Groups announcement of upcoming Solana derivatives products. The exchange confirmed plans to introduce SOL options contracts...

MoneyGram, the global leader in money transfers, has rolled out a revamped mobile app built on blockchain technology and U.S. dollar-pegged stablecoins. The company announced that customers in Colombia, where it operates over 6,000 retail locations, will be the first to use the app to receive and store stablecoin payments. Expansion to other markets is expected soon. Colombia was chosen as the launch market due to its high volume of inbound remittances and economic instability. Families receive more than 22 times the money they send abroad, while the Colombian peso has lost over 40% of its...

XRP is drawing fresh attention from traditional finance as new investment products emerge across securities and derivatives markets. The token, trading at around $3.02 according to CoinDesk Data, is set to reach U.S. brokerage accounts in new ways, expanding beyond bitcoin and ether offerings. On Sept. 18, REX Shares and Osprey Funds will list the first U.S.-traded exchange-traded funds (ETFs) tied to XRP and Dogecoin (DOGE) on the Cboe BZX Exchange, under tickers XRPR and DOJE. While not entirely pure spot ETFs, the funds will hold XRP and DOGE directly, along with other non-U.S. ETFs. Their...

Bullish (BLSH), the parent company of CoinDesk, posted a strong second-quarter earnings report, significantly outperforming analyst expectations. The crypto trading platform reported earnings per share (EPS) of $0.93, far above the average estimate of $0.03, according to FactSet. Adjusted revenue came in at $57 million, slightly below the $60.7 million forecast. CEO Tom Farley highlighted exciting liquidity services growth and a successful Consensus conference, noting that Bullish is seeing strong momentum heading into the third quarter. The companys trading volume surged to $179.6 billion,...

Kraken, one of the worlds largest cryptocurrency exchanges, is experiencing major leadership changes as it prepares for a potential U.S. public listing in early 2026. Four senior executives from its institutional division have recently exited the company, according to a source familiar with the matter. The departures include David Olsson, global head of institutional sales; Shannon Kurtas, vice president of product, head of exchanges, and Pro service; Jeff Kramer, director of OTC trading; and Sanjay K, OTC trading lead for the Americas. While Kraken declined to comment on the exits, the...

The Federal Reserve has shifted back to monetary easing after ten months of holding steady, cutting its benchmark interest rate by 25 basis points to 4%-4.25%, the lowest since December 2022. Fed Chair Jerome Powell described the move as a risk management cut, signaling caution while acknowledging slowing growth and a weaker job market. The decision follows August data showing just 22,000 new jobs and unemployment climbing to 4.3%, the highest since 2021. Revisions also revealed fewer jobs created earlier in the year. Powell noted that weaker labor trends stem partly from immigration changes...