Societe Generale-FORGE, a subsidiary of the French banking giant, has announced plans to launch its euro-pegged stablecoin, EURCV, on the XRP Ledger in 2025. This move continues SG-FORGE’s multi-chain strategy, following previous deployments on Ethereum and Solana. By leveraging the XRP Ledger’s low-cost, high-speed infrastructure, the company aims to expand EURCV’s adoption, particularly in cross-border payments.
EURCV is designed to comply with the EU’s MiCA regulatory standards, ensuring transparency, consumer protection, and market integrity. Stablecoins like EURCV, which are tied to traditional assets such as the euro, offer a stable and less risky alternative to volatile cryptocurrencies, making them an ideal solution for institutional finance.
Guillaume Chatain, Chief Revenue Officer at SG-FORGE, emphasised that the XRP Ledger’s speed and cost-efficiency make it a strategic platform for EURCV. Since its inception in 2012, the XRP Ledger has processed over 2.8 billion transactions and supported more than 5 million active wallets, reinforcing its reputation as a reliable blockchain network. SG-FORGE’s efforts to integrate EURCV into the financial ecosystem align with its broader vision for compliant and secure digital assets.
The British government is stepping up efforts to regulate stablecoins and redefine rules around staking, aiming to bolster its appeal as a crypto-friendly destination. Expected by December, these measures follow increased scrutiny of digital assets in the US, prompting firms to seek more welcoming jurisdictions.
Key elements of the proposal include giving the Financial Conduct Authority (FCA) authority to draft stablecoin regulations and revising staking rules to exclude them from traditional investment schemes. Insiders also point to updates on the UK’s digital securities sandbox, a joint blockchain initiative with the Bank of England designed to drive innovation.
In Parliament, recent efforts have centred on recognising digital assets as personal property to improve fraud protection and ownership rights. While the former Conservative government outlined ambitious crypto plans, the Labour government’s stance on digital assets appears more reserved.
Jay Clayton, former Securities and Exchange Commission (SEC) chair, predicts that cryptocurrency legislation could be on the horizon during Donald Trump’s upcoming administration. Speaking in New York, Clayton, who is a candidate for attorney general in Trump’s second term, shared his expectations that a shift in regulatory priorities may favour the establishment of new crypto laws. He noted that under Trump’s leadership, crypto regulations could address long-standing issues that the Biden administration has not acted on directly.
During Biden’s presidency, regulators have intensified enforcement actions against cryptocurrency companies without adopting the rules the industry has been advocating. Clayton hinted that Trump’s approach could ease regulatory burdens, aiming to encourage companies to go public and create a more business-friendly environment. However, this marks a shift from Biden’s SEC, which implemented rules that many firms consider burdensome, especially around climate-related disclosures.
Clayton has criticised Biden-era SEC policies, arguing that recent regulations requiring disclosures of climate-related expenses could discourage companies from public listings. He called these policies ‘terrible,’ suggesting they deter firms from entering public markets due to the perceived regulatory complexities.
While Clayton did not confirm if he would accept a role in Trump’s administration, he indicated a willingness to serve if asked. His comments underscore a potential policy shift, particularly in financial and crypto regulations, as the industry anticipates possible changes under new leadership.
The US Senate is working to establish a strategic Bitcoin reserve within the first 100 days of Donald Trump’s presidency, with Senator Cynthia Lummis leading the charge. Her BITCOIN Act proposes creating decentralised vaults across the country to securely store one million BTC over five years. The plan includes revaluing assets such as gold certificates to fund Bitcoin purchases, aiming to strengthen the nation’s financial position.
The initiative has sparked optimism within the crypto industry, with analysts predicting it could accelerate Bitcoin’s growth and attract institutional interest. David Bailey, CEO of BTC Inc., has called the reserve the most transformational policy on Trump’s agenda, highlighting its potential to reshape the financial landscape.
Bitcoin’s price has soared recently, repeatedly hitting all-time highs and reaching $93,000 amid a broader market rally. While some attribute this surge to Trump’s pro-crypto stance, others suggest predictable post-halving dynamics as the primary driver. Regardless, the combination of policy support and market conditions appears to be boosting Bitcoin’s appeal as a major investment asset.
Fireblocks, a digital assets platform, has partnered with South Korea’s NongHyup Bank to develop a blockchain-powered prototype for tax refunds. The project will utilise Fireblocks’ Tokenisation Engine to simplify value-added tax (VAT) and goods and services tax (GST) refunds on retail purchases, focusing on increased security and real-time tracking of transactions.
The initiative aims to enhance transparency while reducing operational costs, with tokenisation providing immutable records that prevent fraud. NongHyup Bank, which serves over 10 million customers, views the partnership as a step forward in delivering innovative blockchain solutions.
Fireblocks continues to expand beyond its core custody services, recently offering derivatives trading and launching a Web3 kit for start-ups. With over $6 trillion in digital assets securely transferred, the company’s collaboration with NongHyup Bank highlights the growing adoption of blockchain in traditional financial services.
The global cryptocurrency market has surged past $3 trillion, fueled by a resurgence in interest following Donald Trump’s recent presidential election win, which many investors believe could usher in favourable US regulations. This milestone marks a new peak, eclipsing even the 2021 boom fueled by pandemic-era investments, as the total market value reached nearly $3.2 trillion in early November, according to CoinGecko. Bitcoin, the market’s leader, hit a record high of $93,480, with other cryptocurrencies like Ether and Dogecoin also seeing significant gains.
Trump’s election and pro-crypto lawmakers in Congress appear to have injected optimism by easing concerns over regulatory uncertainty. Bitcoin has doubled in value this year and jumped 30% since Election Day to $90,000, while Ether rose to $3,220, and Dogecoin gained 140%, supported by endorsements from Trump ally Elon Musk. Institutional interest has also grown, with increased buying in crypto exchange-traded funds hinting at broader adoption from financial entities.
Yet, the overall value of cryptocurrencies remains modest compared to traditional assets like gold or the US stock market. Some segments of the crypto market, such as NFTs, remain subdued. However, industry insiders suggest that sustained high market values could lead to further exploration of blockchain applications, including decentralised finance and real-world asset tokenisation, signalling that crypto’s current momentum might spark broader financial innovations.
Crypto exchange Gemini mistakenly issued a price alert on Wednesday claiming Bitcoin had surpassed $110,000. The exchange later apologised, explaining that the notification was caused by a technical error. In reality, Bitcoin had reached an all-time high of $93,000, fuelled by optimism surrounding Donald Trump’s election victory.
Gemini faced backlash from users confused by the false alert, with some speculating that it may have been triggered prematurely by an employee or a misconfigured system. The exchange reassured users that such mistakes are rare and promised to prevent similar incidents in future.
Errors like these are not uncommon in the crypto industry. Exchanges, including Binance and Coinbase, have previously reported incorrect price displays due to glitches or faulty data. While these mistakes are usually resolved quickly, they can still cause significant disruption for traders relying on real-time information.
South Korean authorities have arrested 215 individuals in connection with the country’s largest cryptocurrency investment scam, which reportedly defrauded investors of 320B won ($228.4M). Among those detained is the alleged leader of the operation, who is accused of selling 28 worthless virtual tokens to approximately 15,000 victims with promises of high returns.
According to police, the group issued six of the tokens on overseas crypto exchanges and manipulated their values through market-making teams. To attract investors, they established consulting companies, recruited sales teams, and targeted viewers of a YouTube channel. Officials revealed that many of the tokens were fraudulent and lacked real value.
This case highlights growing concerns over cryptocurrency-related scams in South Korea and globally, as unregulated digital assets continue to attract both investors and opportunistic criminals. The arrests mark a significant step in addressing financial crimes in the fast-evolving crypto landscape.
Coinbase Wallet is preparing to launch a tap-to-pay cryptocurrency payment feature, aiming to rival fast payment services like Cash App, Venmo, and PayPal. Jesse Pollak, the lead for Coinbase Wallet and creator of Ethereum Layer 2 Base, announced the rollout is in its final testing phase, with a full launch expected soon. The feature promises a faster and more global payment experience, targeting merchants worldwide.
Pollak envisions Coinbase Wallet integrated across 50 countries by 2025, enabling users to link their bank accounts for seamless on-chain transactions. The addition of stablecoin off-ramps, such as USD Coin and Tether, will simplify converting digital assets into local currencies, potentially driving merchant adoption through cheaper, faster payment methods.
Meanwhile, Base is addressing Ethereum Layer 2 interoperability issues. By implementing new standards like ERC-7683 and RIP-7755, Base aims to enable seamless token transfers across Layer 2 networks, including Arbitrum and OP mainnet. Pollak expects these solutions to be in place within six months, unlocking significant new use cases in a blockchain ecosystem currently securing $42 billion in value.
Nano Labs, a prominent semiconductor company in Hangzhou, has announced that it will now accept Bitcoin as payment for its products. It marks a milestone in cryptocurrency adoption. Transactions will be processed through Coinbase, making it easier for customers to use the digital currency.
Renowned for its cryptocurrency-mining chips like the Cuckoo 1.0 and Darkbird 1.0, Nano Labs sees this move as a proactive step in adapting to the rapidly growing digital economy. The firm has been actively aligning itself with trends prioritising secure, swift cross-border transactions, a vital need in today’s tech industry.
Following the announcement, Nano Labs’ stock price surged 5.6% in premarket trading to $3.40, reflecting market confidence in its forward-thinking strategy. While the company’s intent to hold Bitcoin on its balance sheet remains unclear, this development underscores the tech sector’s increasing acceptance of cryptocurrency as a legitimate payment method.
