Daily edition
Material developments in payments, digital finance and regulation, selected for an HKMA audience.
5 stories
The story signals that even as stablecoins gain payments relevance, policymakers still see major unresolved weaknesses in how redemptions, supervision and failure management would work across borders during a real stress event.
This shows Singapore moving from tokenisation pilots toward live sovereign money-market instruments settled in central bank digital money, which could shape how institutional digital collateral and cash settlement develop.
This suggests stablecoins are moving deeper into mainstream cross-border treasury and payout workflows, potentially reducing prefunding frictions for businesses using established payment rails.
If implemented, the deal would extend blockchain-based cross-border settlement into Bahrain’s local currency, potentially giving banks a faster always-on alternative to traditional correspondent banking for BHD flows.
The decision puts a major dollar stablecoin under tougher EU-level supervision and sets a precedent for how large stablecoin issuers may be treated under MiCA.