South Korea’s central bank digital currency project has been put on hold as the regulators turn their attention to fast-tracking the issuance of won-backed stablecoins. According to a Bloomberg report citing an unnamed Bank of Korea official, the central bank has suspended plans for the second phase of its CBDC pilot, which had been scheduled for the fourth quarter of 2025. Participating banks have reportedly been informed that discussions would be temporarily paused. Authorities are reevaluating the role of a CBDC as they are pivoting toward regulating private stablecoin issuers, the official noted. The Bank of Korea had been preparing to expand its CBDC testing under “Project Han River,” which began earlier this year with a consortium of seven banks. The second phase was expected to include features such as peer-to-peer transfers and merchant payments. However, banks reportedly raised concerns over high costs and the lack of a clear commercialization plan, prompting the central bank to reassess the project’s future. Instead, the central bank will continue to monitor progress on a legislative proposal that would establish a regulatory framework for Korean won-based stablecoins. The proposed legislation, introduced under the Digital Asset Basic Act , outlines licensing requirements for issuers and includes provisions for reserve management and user protection. You might also like: South Korean stocks ride crypto wave as new president backs won-based tokens The move aligns with President Lee Jae-myung’s broader agenda to accelerate stablecoin development . Since taking office earlier this month, Lee has prioritised the institutionalisation of KRW-backed digital tokens as a strategic financial initiative. His administration supports a licensing regime that would permit companies with as little as ₩500 million ($370,000) in equity capital to issue stablecoins, subject to regulatory approval. Democratic Party leaders have framed the rollout of won-denominated stablecoins as essential to preserving South Korea’s monetary sovereignty. Party lawmakers argue that local crypto markets are overly reliant on U.S. dollar-pegged assets like USDT and USDC, and warn that continued dominance by foreign stablecoins could undermine domestic financial policy. These stablecoins reportedly accounted for over ₩57 trillion ($42 billion) in trading volume during the first quarter of 2025. Min Byeong-deok, head of the Digital Asset Committee, has warned that without swift action, Korea may lag in the race for stablecoin leadership. He contends that the market for stablecoins could surpass even artificial intelligence or semiconductors and has called for regulatory measures to support issuance by compliant entities. Commercial banks have already responding to this policy shift. Eight of the country’s largest banks, including KB Kookmin, Shinhan, Woori, and Nonghyup, have launched a joint initiative to issue a KRW-pegged stablecoin. Read more: South Korean payments firm Kakaopay tumbles 17% as regulators sound alarm on stablecoins
Stablecoins and crypto debit cards are gaining meaningful traction in Europe’s evolving financial ecosystem, with recent data showing significant growth in both internet-based settlements and everyday spending. While stablecoins now surpass traditional card networks like Visa and Mastercard in onchain volume, crypto cards are matching — and in some areas outpacing — banks when it comes to micro-payments and online purchases. Stablecoins Leapfrog Card Giants to Become the Internet’s Default Settlement Layer The race to own the internet’s checkout button is over—for now. Data gathered by blockchain-infrastructure provider Alchemy shows that dollar-pegged cryptocurrencies have already pushed past Visa and Mastercard in on-chain transaction volume by roughly 7%, cementing stablecoins as the fastest-growing payment rail on the planet. Stablecoins have seen “explosive” adoption and are becoming the default settlement layer for the internet, Alchemy’s head of engineering Noam Hurwitz says. Behind the numbers is a simple value proposition: near-instant, borderless transfers that cost a fraction of a cent and clear 24/7—features legacy card networks still struggle to match. The result, Hurwitz added, is a decisive shift in how money moves online. PayPal, Stripe and Visa have all embedded stablecoin rails to trim costs and speed up settlement, effectively hiding the blockchain complexity behind familiar user interfaces. By leaning on Alchemy’s APIs, these firms can decouple the user experience from the underlying technology while gaining real-time finality, Hurwitz explained. A Trillion-Dollar Liquidity Pool in Treasurys One knock-on effect of stablecoin growth is a massive new buyer of US debt. Market leader Tether (USDT) generated an estimated $13 billion in profit last year and now holds roughly $113 billion in US Treasurys—more than the government of Germany. Those reserve-backed holdings anchor the broader tokenized-finance stack, Hurwitz noted, turning tokenized money into the bedrock of an emerging on-chain economy. Momentum accelerated on June 17 when the US Senate passed the bipartisan Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act). The bill creates a federal licensing regime for issuers and removes much of the legal gray area that has kept banks and payment giants on the sidelines. Industry lawyers say the legislation could be signed into law before year-end, providing a clear runway for further institutional adoption. Traditional finance isn’t standing still. J.P. Morgan’s blockchain unit Kinexys is piloting a permissioned USD deposit token—JPMD—on Coinbase’s Layer-2 network Base. The project promises interest-bearing balances, real-time liquidity and 24-hour settlement for corporate treasuries, positioning bank-issued tokens as a “superior alternative to stablecoins ” for some clients. Fragmented Chains and UX Hurdles Remain Despite eye-popping throughput, the stablecoin landscape is still fragmented across multiple blockchains. Enterprises must vet each network’s reliability, liquidity depth and counter-party risk—no trivial task for treasury teams used to a single clearing house. Hurwitz argues that the next wave of adoption will come from Layer-2 networks purpose-built for individual platforms, stitched together by seamless cross-chain bridges. However, not everyone is sold on the idea that privately issued tokens can serve as “money.” In its 2025 Annual Economic Report, the Bank for International Settlements said stablecoins fail crucial tests of singleness, elasticity and integrity, likening them to 19th-century banknotes that sometimes traded at discounts. The BIS instead backs central-bank digital currencies and tokenized deposits as safer foundations for digital finance. Layer-2s and Interoperability Alchemy expects most financial-services firms to launch their own Layer-2 chains over the next five years, each monetizing niche ecosystems while relying on stablecoins for final settlement. If cross-chain interoperability matures as quickly as liquidity has, stablecoins could underpin a more connected, always-on financial web—one where swapping tokenized dollars for tokenized securities or real-world assets happens in a single click, anywhere on Earth. Crypto Cards Challenge Banks for the Checkout Crown in Europe In related news, data from CEX.IO and other payment providers show digital-asset cards closing the gap with — and in key areas beating — traditional banks at Europe’s point of sale. Europe’s long-running love affair with cash is fading fastest at the lower end of the purchase spectrum, and crypto cards are seizing the moment. According to a 2025 spend-pattern survey released by London-based exchange CEX.IO, 45 percent of all crypto-linked card transactions in the region are for less than €10. That tiny-ticket share rivals the cozy hold cash once enjoyed at corner bakeries, newsstands and transit kiosks, and now outpaces the slice claimed by debit- and credit-card issuers backed by high-street banks. The report arrives as the number of newly issued CEX.IO cards jumped 15 percent year-to-date, hinting that Europeans are warming to the idea of spending stablecoins and mainstream crypto assets the same way they swipe or tap a bank card. Digital natives aren’t just tapping in cafés. They’re checking out online at a pace traditional cards have yet to match. While European Central Bank data show that 21 percent of all euro-area card payments are remote, CEX.IO’s customers conduct 40 percent of their transactions over the internet. The elevated e-commerce usage mirrors findings from rivals Oobit and Crypto.com, both of which have logged outsized crypto-card traffic at online retailers, airline sites and app stores. Where the Money Goes: Groceries, Dining and Daily Life Far from the crypto-luxury stereotype, most purchases are decidedly ordinary. The average crypto-card transaction clocks in at €23.70, meaning users are reaching for digital assets to buy sandwiches and detergent more often than big-ticket electronics. By comparison, Mastercard pegs the average European bank-card purchase at €33.60. Behind the scenes, stablecoins fund roughly 73 percent of purchases, confirming their rise as a low-volatility medium for everyday exchange. Yet holders still dip into more volatile assets: Bitcoin, Ether, Litecoin and Solana collectively account for a quarter of grocery, dining and transport payments in the dataset. The asset mix underscores consumers’ willingness to spend, not just hoard, their crypto. Cryptocurrencies used for purchases (Source: CEX.IO) A Cashless Future, One Tap at a Time “What we’re seeing in Europe is that crypto-card users aren’t just experimenting with new tech — they’re forming the habits that will define a truly cashless future,” said Alexandr Kerya, vice-president of product management at CEX.IO. He noted that average monthly payment volume across the company’s cardholders rose 24 percent in May alone, even as price volatility remained muted. Crypto card spending distribution (Source: CEX.IO) Those habits are reinforced by a wave of new offerings. Kraken and Mastercard launched a co-branded debit card last year; meme-coin ecosystem Floki followed suit with a 13-asset card this spring. Fintechs have responded by deepening rewards programs and upping transaction limits, hoping to keep pace with a customer base that clearly values immediate settlement and blockchain transparency. Not everyone is cheering. UK banking giant Barclays announced it will block crypto purchases on Barclaycard credit lines starting next month, citing fears of unsustainable debt loads and the absence of investor protections. The lender warned customers that digital-asset transactions fall outside the safety net of the Financial Ombudsman Service and the Financial Services Compensation Scheme. The move signals a widening philosophical divide: fintechs lean on real-time blockchain settlement to reduce fraud and chargebacks, whereas legacy banks remain wary of an asset class still navigating regulatory scrutiny and sharp market swings. The Road to Parity — and Beyond Three trends suggest crypto cards could soon match, or surpass, traditional bank cards across more spending categories: 1. Merchant Acceptance Large payment processors now route crypto authorization through the same EMV rails they use for fiat transactions, minimizing friction for shops and restaurants. 2. Regulatory Clarity The European Union’s Markets in Crypto-Assets (MiCA) framework rolls out this year, creating a passportable license that card issuers can leverage continent-wide. 3. Stablecoin Maturity With tokenized euros and CBDC pilots advancing, volatility concerns around crypto payments may recede, opening the door for payroll deposits and utility billing. If those forces converge, crypto cards might not just rival bank plastics for micro-spending; they could become the default in a post-cash Europe—one tap, scan or click at a time.
BlackRock’s Spot Bitcoin ETF Snaps Four-Week Downtrend in Volumes $BTC #Bitcoin
On June 30, CryptoQuant analyst AXEL Adler Jr highlighted a key Bitcoin indicator derived from the realized supply distribution, which measures the current Bitcoin price against the aggregate investment cost
Gen Z is increasingly turning to Bitcoin as a trusted hedge against inflation and economic uncertainty amid AI-driven job market shifts. With traditional financial systems under pressure, young investors view
The post Fact Check: Did Ripple Secretly Acquire Uphold or Kraken? appeared first on Coinpedia Fintech News In crypto, rumors travel faster than blockchain transactions and this week, a wild new one has taken over social media. Whispers are flying that Ripple might have secretly acquired a popular crypto exchange , and the community isn’t staying quiet about it. What started as a casual comment on social media has snowballed into full-blown speculation, with people connecting dots, making predictions, and trying to figure out if there’s any truth to it. And one name that has popped up several times is Uphold. So, Where Did This All Start? It kicked off when Ripple’s CEO dropped a major update about the company’s long-running legal fight with the SEC. Ripple officially announced they’re dropping their cross appeal , and the case is finally being put to rest. Naturally, this big moment got the entire crypto community talking. But what really caught people’s attention was when one of the well-known crypto exchanges jumped into the conversation on social media. A simple two-word reply from their official account was enough to send crypto Twitter into overdrive, with people speculating whether Ripple was about to acquire them. Crypto Rumors Move Fast Soon, posts and threads claiming Ripple had bought out a crypto exchange started flooding X (formerly Twitter). Even other exchanges like Kraken got casually dragged into the gossip. But one name kept popping up more than the rest, Uphold. RUMORS: DID RIPPLE JUST ACQUIRE A TOP CRYPTO EXCHANGE? NO CONFIRMATION YET — BUT THE INTERNET’S ON FIRE. IF TRUE… EVERYTHING CHANGES. #XRP #RIPPLE — Pumpius (@pumpius) June 28, 2025 Coinpedia’s Two Cents: Why Would Ripple Even Consider Buying an Exchange? Well, there’s actually a reason this rumor felt believable. Not long ago, Ripple CEO revealed they’ve got over $1 billion in cash reserves specifically set aside for expanding the company. And they’ve made it clear they don’t just want to focus on payments and liquidity anymore. Ripple’s ambitions stretch into areas like custody, compliance, and tokenization, and having an exchange under their wing would make a lot of sense down the road. That’s probably why the internet latched onto the idea so quickly. Ripple aspires to be more than just liquidity & payments. Acquisitions in crypto-friendly markets (like UAE and Switzerland), for expansion. pic.twitter.com/yTRMEasngN — Crypto Eri ~ Carpe Diem (@sentosumosaba) May 18, 2023 Is There Any Truth to It? As of now — no. There’s no official confirmation from Ripple, Uphold, or anyone else involved. The exchange’s cheeky reply on social media seems to have been nothing more than good timing and playful interaction during a huge moment for Ripple. That said, considering Ripple’s billion-dollar war chest and their stated plans for expansion, it wouldn’t be shocking if something like this happened at some point in the future. Crypto loves a good rumor, and this one checked all the boxes, mystery, money, and a touch of drama. While it appears to be nothing more than speculation for now, it serves as a reminder that Ripple is sitting on serious resources and big ambitions. [article_inside_subscriber_shortcode title=”Never Miss a Beat in the Crypto World!” description=”Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.” category_name=”News” category_id=”6″]
Asia stock markets mostly higher on Monday, following gains on Wall Street, where major U.S. indexes hit new record highs amid easing tariff risks and receding geopolitical tensions, the investors risk appetite was also boosted by developments in the U.S.-Canada trade standoff. On the geopolitical front, the ceasefire between Israel and Iran appears to be holding, easing global tensions and dampening safe-haven demand for the dollar. Gold rose to around $3,280 per ounce on Monday, helped by a weaker US dollar. Japan ( NKY:IND ) rose 0.88% to surpass 40,700, while the broader Topix Index rose 0.8% to 2,863 on Monday, with both benchmarks reaching their highest levels in nearly a year. The Japanese yen strengthened toward 144 per dollar on Monday, approaching two-week highs. Meanwhile, data showed Japan’s industrial production rose less than expected in May, as elevated US tariffs continued to dampen the outlook. However, trade friction between Japan and the US remains unresolved, as the 25% US tariff on Japanese car imports continues to be a sticking point in bilateral negotiations, with little sign of progress. Japan’s housing starts plunged 34.4% year-over-year in May 2025, sharply missing market expectations of a 14.8% drop and worsening from a 26.6% decline in the previous month. Looking ahead, investors are turning their attention to Tuesday’s Tankan survey for a clearer read on corporate sentiment and the broader economic environment. China ( SHCOMP ) rose 0.42% rose 0.2% to around 3,430 on Monday, snapping a two-day losing streak, as weak manufacturing data fueled expectations of additional stimulus, and the offshore yuan strengthened to around 7.16 per dollar on Monday, recouping losses from the previous week, as the latest PMI data reinforced expectations of further stimulus measures. Official data showed China’s manufacturing PMI edged up to 49.7 in June from 49.5 but remained in contraction for a third straight month. The non-manufacturing PMI also rose slightly to 50.5, indicating tepid growth in services and construction. Beijing confirmed Friday a new trade agreement with Washington. The deal stipulates China will review export applications under its control rules, in exchange for the U.S. rolling back several restrictive measures targeting Chinese entities. Markets now await Tuesday’s Caixin PMI data for further insight into private-sector momentum. Hong Kong ( HSI ) fell 0.26% to 24,183 in Monday morning trade, extending losses for a third straight session amid broad weakness in consumer and financial stocks. India ( SENSEX ) fell 0.34% to 83,797 in early trade on Monday, erasing solid gains from the prior session, as traders engaged in profit-taking after the BSE Sensex hit a record high on Friday. On the data front, India's external debt reached a record high of USD 736.3 billion in the March quarter, primarily driven by an increase in non-government debt. Australia ( AS51 ) rose 0.53% to 8,534 on Monday, extending last week’s gains as investor sentiment improved amid easing concerns over broad US tariffs. The Australian dollar edged higher to around $0.653 on Monday. Domestically, the Melbourne Institute’s Monthly Inflation Gauge showed a modest uptick in June, reversing the previous month's decline and marking the fourth increase this year. Australia's private sector credit edged lower to 0.5% month-over-month in May 2025, compared to market expectations and the prior month's 0.7%. Investors now await Australia’s June manufacturing PMI for insights into the health of the sector and the country's overall economic momentum. In the U.S., on Friday, all three major indexes ended higher amid optimism for trade deals and rate cut hopes, overshadowing Trump's Canada trade talk comments. On the economic front, investors are closely watching key US labor market indicators this week, including job openings data, the ADP employment report, and the non-farm payrolls report, which could provide further insights into the Federal Reserve's rate path. U.S. stock futures rose on Monday as Wall Street aimed to close out a strong June, with both the S&P 500 and Nasdaq Composite hitting new all-time highs: Dow +0.57% ; S&P 500 +0.39% ; Nasdaq +0.55% . Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: Japan's industrial production rise less than expected in May China’s manufacturing PMI contracts for third consecutive month in June to 49.7; services growth at 3-month peak Japan's retail sales up 2.2% in May, least in 3 months; unemployment stalls at 2.5% China’s industrial profits fall 9.1% Y/Y in May; fall slightly in Jan-May BoJ minutes reveal ongoing caution on economy amid inflation & market risks
The post Can Pi Network Hit $10 by December 28? appeared first on Coinpedia Fintech News Pi Network’s price fell over the weekend, dropping to $0.532, down 20% from last week’s high and 56% down from its May peak. This decline has pushed its market cap below $4 billion, despite several big updates on Pi Day 2. Pi’s Price Drops Despite Major Updates The Pi Core Team announced new features, including an AI initiative, upgrades to the Pi App Studio, and a new Ecosystem Directory Staking system that lets users stake Pi to boost app visibility. Other highlights included integration with Onramper, a new Pi Wallet upgrade, and Node version 0.5.2 with improved security. The price still failed to rally as no exchange listing was announced, and concerns such as the upcoming token unlocks and the project’s centralized control have yet to be resolved. Token Unlocks Threaten to Add $215M in Sell Pressure Between late June and July 2025, approximately 276 million Pi tokens, representing about 3.7% of the circulating supply, are set to be unlocked. This will introduce over $215 million in sell pressure to the market. Historically, similar token unlocks have led to major price declines, ranging from 30% to 77%, and there is a strong possibility this pattern could repeat. A critical warning for all $PI holders In late June to July 2025, 276 million Pi tokens (≈3.7% of circulating supply) will be unlocked — unleashing over $215M in potential sell pressure! Historically, major unlocks have triggered devastating price drops of 30% to… pic.twitter.com/aLE0LBGBLc — Pi Barter Mall来购酷买 (@pibartermall) June 29, 2025 Currently, Pi lacks major exchange listings, enterprise partnerships, and fresh capital inflows, all of which are critical for price support and growth. With the absence of these factors, Pi is at risk of falling further or staying flat near its current lows. Big Move Expected In The Year-End The next big day is scheduled for December 28, 2025 (Pi Year-End Summary Day), which is still several months away. If no strong market catalyst emerges in the near term, then a strong rebound appears unlikely. According to CoinDCX, Pi Network is set for a bullish second half of 2025. It may start around $1.20 in July and reach up to $2.80 by December. It may see a small dip in September before picking up again. Pi Coin Short-Term Price Prediction Pi Network started the month around $0.70 and dropped steadily, hitting a low around $0.42 mid-month. Around June 24-26, the price surged near $0.66 before falling again. Currently, it is trading around $0.52, a level that has been tested multiple times and may act as short-term support. However, Pi Coin could be setting up for a bounce. It recently broke out of a bullish falling wedge pattern and is now retesting the breakout level. If momentum builds, the next target could be the key $1 mark.
Metaplanet Acquires 1,005 Bitcoin, Issues $208M Bonds for Further BTC Buys $BTC #BTC
Metaplanet has solidified its position as the fifth-largest corporate Bitcoin holder following a significant $108 million acquisition of 1,005 BTC, underscoring its aggressive accumulation strategy. The Japanese firm’s innovative approach