Connect with us

Business

Robinhood, Kraken, Paxos launch Global Dollar stablecoin network

Published

on

Robinhood, Kraken, and Paxos have teamed up to launch a new global stablecoin network, aiming to streamline cross-border payments using a U.S. dollar-pegged digital asset. The initiative leverages the Paxos Dollar (USDP) as the stablecoin of choice, enabling quicker and more efficient transactions between participating platforms. This move marks a significant step toward broader adoption of stablecoins in global financial systems.

The partnership seeks to address the challenges of traditional cross-border payment systems, which are often slow, expensive, and prone to errors. By utilizing blockchain technology, the network promises near-instant settlement times and reduced costs for international money transfers. Robinhood, Kraken, and Paxos hope the project will drive mainstream acceptance of stablecoins as a reliable digital currency alternative for both retail and institutional users.

This collaboration is particularly notable given the regulatory challenges surrounding digital assets. The companies are working closely with regulators to ensure full compliance with U.S. and global financial regulations. The aim is to establish a safe, transparent, and trusted environment for stablecoin usage, which has been a key concern for regulators and financial institutions in recent years.

By combining their resources, Robinhood, Kraken, and Paxos plan to expand the use of USDP across various sectors, including remittances, e-commerce, and institutional trading. The move signals growing confidence in stablecoins as a key enabler of the digital economy and could pave the way for further innovations in blockchain-based financial services.

Business

Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

Published

on

Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

Continue Reading

Business

Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

Published

on

Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

Continue Reading

Business

Hackers are selling counterfeit phones with crypto-stealing malware

Published

on

Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk