EN zh-TW

newsio aggregates and links to original sources. We do not own the original images or content. If you believe content infringes on intellectual property rights, contact us — it will be removed at first notice.

fintech / news / / The Star

Stablecoins are a type of cryptocurrency pegged to a fiat currency.

Tether will launch a stablecoin pegged to the Georgian Lari with government support.

KEY POINTS
May 25 (Reuters) - ⁠Tether, the issuer ⁠of the world's ‌largest stablecoin, said on Monday it plans to launch ​a stablecoin representing ⁠the Georgian ⁠Lari, with the support of ⁠the ‌government of Georgia, making ⁠it one of the first ​joint ‌efforts to place a ⁠national ​currency on digital asset rails. The stablecoin ⁠will be called 'GEL₮', Tether ​said. Stablecoins are a type of cryptocurrency pegged to ⁠a fiat currency. They are mostly used in crypto trading, ​and have ⁠surged in size in ​recent years. (Reporting ‌by Akanksha Khushi ​in Bengaluru; Editing by Nivedita Bhattacharjee)
COMPANIES
Read the full story on The Star → →
Share X LinkedIn

Summarized by Newsio from The Star. How we summarize →

RELATED 03
business · news · 12h 136

Trump Media & Technology Group (DJT) has drawn fresh attention after recent share price swings.

  • Trump Media & Technology Group posted a net loss of US$1,086.15m on just US$3.73m revenue.
  • DJT's price-to-book ratio of 1.8x remains higher than the US industry average of 1x.
simplywall.st →
genai · news · 13h 132

250+ corporate and financial institution leaders convene in Singapore as APAC payments market reaches ~US$18 trillion.

  • The Asia Pacific payments market has reached an estimated US$18 trillion in transaction value.
  • Bank of America spends over US$13 billion annually on technology, powering platforms like CashPro and Intelligent Receivables.
PR Newswire →
business · news · 14h 80

Rocket Companies, Inc. priced its previously announced private offering.

  • Rocket Companies increased its note offering to $1.5 billion, up from the previously announced $1.2 billion.
  • The offering consists of $900 million 6.125% notes due 2031 and $600 million 6.5% notes due 2034.
PR Newswire →