Sony Ventures into US Stablecoin Market with New Trust Entity

The post Stablecoin Cross-Border Remittance Enables Hyundai Card’s Efficient PoC appeared on BitcoinEthereumNews.com. Hyundai Card has pulled off something that most corporate finance teams have only theorized about: a real, live stablecoin cross-border remittance between two overseas subsidiaries of one of South Korea’s biggest conglomerates — and it took just seven minutes. Key takeaways Hyundai Card and Hyundai Motor completed a stablecoin cross-border remittance proof of concept that goes beyond technical testing, reaching operational readiness for real-world deployment. The first PoC converted USD 20,000 from Hyundai Motor America into USDT, transferred it to Hyundai Motor Mexico, and converted it back to dollars — the entire process averaging seven minutes. Participants included Hyundai Card, Hyundai Motor America, Hyundai Motor Mexico, Tether, Avalanche, and Axiym. A second PoC targeting Hyundai Motor’s European entities will bring in Circle and Visa, testing local currencies be

Revolut said USDT support remains unchanged outside EEA and Switzerland as it winds down the stablecoin offering in selected European markets.

The post Kazakhstan’s new crypto adoption push: Stablecoin rules, tax exemptions explained! appeared on BitcoinEthereumNews.com. Kazakhstan is betting big on crypto and has laid the groundwork to develop the sector into a regulated market. On the 7th of July, Kazakhstan President Kassym-Jomart Tokayev signed a decree for the same.  The document was prepared by the Ministry of Artificial Intelligence and Digital Development, the National Bank (central bank), other government agencies, and the Astana International Financial Center.  According to the ministry’s statement, the signed document aims to create a ‘modern regulated’ crypto market to boost investment and adoption.  It lays the foundation for the systematic development of a regulated digital assets market, broader adoption of innovative financial technologies, and increased investment attractiveness of the sector. Will mining and tax relief fuel crypto adoption in Kazakhstan? The move came following President Tokayev’s intensifie

The post Sony Bank Stablecoin Approval Marks Key Regulatory Milestone appeared on BitcoinEthereumNews.com. Sony Bank’s conditional OCC approval to establish a US dollar-backed stablecoin trust bank marks one of the more consequential moves a major Japanese financial institution has made into American digital asset infrastructure. On July 6, Sony Bank confirmed it had received conditional approval from the U.S. Office of the Comptroller of the Currency to charter a wholly owned national trust bank called Connectia Trust, with the explicit goal of issuing a stablecoin pegged 1:1 to the U.S. dollar. Key takeaways Sony Bank received conditional OCC approval on July 6 to establish Connectia Trust, a national trust bank subsidiary in the U.S. Connectia Trust plans to issue a US dollar-backed stablecoin for payments across Sony’s digital ecosystem, including video games, anime, and subscriptions. Sony Bank will capitalize Connectia Trust with $40 million; operations are targeted to begin in 2

The post Sony Bank secures conditional OCC approval for U.S. stablecoin trust bank appeared on BitcoinEthereumNews.com. Technology giant Sony’s online banking unit said it received conditional approval to establish a U.S. national trust bank subsidiary to support the issuance and management of dollar-denominated stablecoins. The planned unit, Connectia Trust, National Association, will be based in New York and capitalized with $40 million, according to a Sony Financial Group announcement. Sony Bank will own 100% of the subsidiary. The move comes as stablecoin usage is surging. Transaction volume hit a $1.79 trillion record last month, 63% more than in May and more than double the year-earlier level, according to Visa’s onchain dashboard. With dollar-pegged tokens accounting for more than 99% of the total $311 billon market capitalization, according to DeFiLlama data, it may be a difficult market to crack. Not only do market leaders USDT and USDC alone account for about $250 billion of

The Bank of Korea reiterated its call for bank-led won stablecoin issuance while advancing deposit token pilots, as issuer rules remain a sticking point in South Korea’s digital asset bill.

Binance's shrinking USDC reserves may signal shifting trader preferences and regulatory impacts, affecting market liquidity and stability. The post Binance USDC holdings drop 22% to $4.6B as $1B in stablecoin liquidity exits appeared first on Crypto Briefing.

The post BNB Chain Targets AI Trading With New High-Speed Layer 1 Blockchain appeared on BitcoinEthereumNews.com. BNB Chain is building a high-speed Layer 1 to give AI trading agents near-instant onchain execution. The new network removes the public mempool to reduce front-running and speed up transaction processing. BNB Chain plans a 2027 mainnet while expanding DeFi, stablecoin activity, and ecosystem growth. BNB Chain is developing a new Layer 1 blockchain designed for AI-powered trading agents, as the network looks to make onchain trading faster and more competitive with centralized exchanges. The project is expected to enter testnet before the end of 2026, with a mainnet launch planned for early 2027. The new blockchain is designed to process more than 100,000 transactions per second, deliver transaction confirmation in under 50 milliseconds, and finalize blocks in less than a second. The upgrade aims to narrow the speed gap between decentralized and centralized trading platforms,