Stablecoin is like having a traveler's check on blockchain

Stablecoins have the opportunity to increase access to financial services and reduce costs – but the industry needs regulatory clarity. ? The GENIUS Act will establish a first of its kind regulatory framework for all payment stablecoins.

CME Group Partners with Google Cloud to Explore Tokenization

In a significant move towards the future of digital finance, CME Group, the global leader in derivatives trading, has announced a collaboration with U.S. technology powerhouse Google Cloud. The partnership aims to test the potential of tokenization technology later this year, paving the way for innovative financial solutions.

Tokenization, the process of representing real-world assets as digital tokens on a blockchain, has garnered increasing interest within the financial sector. By leveraging Google Cloud's advanced infrastructure and expertise in data management and analytics, CME Group plans to explore how this transformative technology can enhance the efficiency and transparency of financial markets.

The pilot program, set to commence in the coming months, will assess the practical applications of tokenized assets within CME Group's extensive trading ecosystem. Following successful testing, the companies plan to roll out tokenization services by 2026. This strategic initiative underscores both organizations' commitment to fostering innovation and delivering cutting-edge solutions for global financial markets.

?? FDIC Revises Bank Supervision Criteria The Federal Deposit Insurance Corporation (FDIC) has removed "reputational risk" from its bank supervision criteria, aligning its approach with the Office of the Comptroller of the Currency (OCC). This marks a shift away from tactics associated with Operation Chokepoint 2.0.

?? GameStop Adds Bitcoin to Treasury Reserves In a significant move, GameStop’s board has unanimously approved an update to its investment policy, including Bitcoin as a treasury reserve asset.

?? Senate Vote on IRS DeFi Broker Rule The Senate is scheduled for a final vote on Thursday to overturn the IRS’s DeFi broker rule. If approved, the resolution could reach former President Trump’s desk by Friday.

?? T3FCU Freezes $9 Million from Bybit Hack T3FCU, a leading crypto crime-fighting organization, has successfully frozen over $9 million linked to the recent Bybit hack, demonstrating its ongoing efforts in combating digital asset crime.

? SEC and Ripple Reach Final Resolution The prolonged legal battle between the SEC and Ripple has come to an end. Both parties have agreed to drop their remaining appeals. Ripple will recover $75 million from escrow, while the SEC retains $50 million.

?? Fidelity Seeks Spot Solana ETF Asset management giant Fidelity, overseeing more than $800 billion, has filed for a spot Solana ETF, furthering institutional interest in digital assets.

?? World Liberty Financial Launches USD1 Stablecoin World Liberty Financial has announced the launch of USD1, an institutional-grade stablecoin fully backed by U.S. Treasurys and cash equivalents, aiming to provide greater financial stability.

?? BlackRock Expands Blockchain Ventures BlackRock continues its foray into blockchain, expanding its blockchain-based money market fund to the Solana network. Additionally, the firm has launched a Bitcoin ETP in Europe, further bolstering its digital asset presence.

? Kentucky Passes Bitcoin Rights Bill Kentucky’s Bitcoin Rights Bill (HB701) has officially been signed into law, reinforcing the state’s commitment to protecting Bitcoin-related activities and innovation.