Today, in terms of cryptocurrencies, Japan’s largest banks are reportedly planning to launch a joint yen-based stablecoin, more than five new cryptocurrency exchange-traded funds (ETFs) went live this week, despite the ongoing US government shutdown, and cryptocurrency industry executives joined President Donald Trump’s fundraising dinner at the White House.
Major Japanese banks to jointly issue yen-linked stablecoin: report
Three of the largest banks in Japan Reportedly planning a joint release A stable currency linked to the yen, which contributes to the region’s increasing adoption of cryptocurrency technology within its financial infrastructure.
Nikki I mentioned On Friday, Mitsubishi UFJ Financial Group (MUFG) and Sumitomo Mitsui Banking Corp. (SMBC) and Mizuho Bank to modernize corporate settlements and reduce transaction costs through a yen-based stablecoin project built on MUFG Progmat’s stablecoin issuance platform.
The banks, which collectively serve more than 300,000 corporate clients, aim to standardize the code to make it interoperable for payments within and between companies. The consortium expects to launch the stablecoin by the end of the year.
Mitsubishi Corp will be the first entity to implement a stablecoin for internal settlements. With more than 240 subsidiaries globally, the company aims to simplify international transfers of dividends, acquisitions and client transactions, saving fees and administrative burdens.
If successful, the project could create Japan’s first bank-backed stablecoin network under a unified framework
“ETFtober” just got bigger, with more than five new cryptocurrency ETFs introduced this week
There has been a flurry of activity within cryptocurrency exchange-traded funds, with at least five new product applications filed with the US Securities and Exchange Commission this week despite the ongoing government shutdown.
The latest developments come from VanEck, which foot A Form S-1 filed with the SEC on Thursday for the VanEck Lido Staked Ethereum ETF, which will track the performance of stETH, Lido’s liquid token.
As a result of the protocol-based liquid staking activities underpinning stETH, “the Foundation expects to receive certain staking rewards through its ownership of stETH,” he said.
21 shares foot For leveraged crypto ETFs with 2x exposure to Excess fluid The original token, HYPE, was released on Thursday. Leverage only applies to a single day’s token performance, rather than extended periods.
Cryptocurrency Executives Divide Cash at Trump Ballroom Fundraiser: Report
US President Donald Trump Hosted a dinner For companies pledging funding to build a new ballroom at the White House, those in attendance are said to include Gemini co-founders Cameron and Tyler Winklevoss, and executives from Coinbase and Ripple.
According to a Wall Street Journal report on Wednesday, he was among the donors and attendees at the White House dinner He was Winklevosses and representatives from Coinbase Global and Ripple Labs. The dinner was reportedly intended to fund the White House ballroom proposed by Trump in July, which was estimated to cost $250 million.
The ballroom is expected to add about 90,000 square feet – 8,361 square meters – to the White House. Cointelegraph reached out to Coinbase, Ripple, Gemini, and the White House for comment on the size of the donations, but had not received a response at the time of publication.
The fundraising dinner came at the end of the 15th day of the US government shutdown, when many federal agencies were operating with limited staff and employees were furloughed. As of Thursday, there were no reports of an agreement between Democrats and Republicans in Congress to pass a bill to continue funding the government.
Other attendees at the fundraiser included representatives from Meta, Google, Amazon, Lockheed Martin and Microsoft. Former Bakkt CEO Kelly Loeffler, who currently serves as administrator of the Small Business Administration under Trump, also reportedly attended.
