News

The Bank of New York Mellon (BNY) in the United States is expanding its services for stablecoin issuer Circle, according to insiders. The bank will allow some customers to remit or receive money from Circle through BNY for the purchase or sale of Circle's stablecoins. Previously, Circle's customers had to use small banks in the U.S. to remit money to Circle, which may have limited its scale of development. (TheInformation)

Aave Labs has announced the launch of a new program called Horizon, aimed at developing RWA products (such as tokenized securities) to facilitate institutional adoption of DeFi. The goal is to leverage the Aave ecosystem as a foundation to bridge the gap between traditional finance and DeFi. It is reported that Horizon's first product will be a structured real-world asset solution, allowing institutions to use tokenized money market funds as collateral to obtain stablecoin liquidity, with stablecoin GHO serving as the main source of liquidity. Aave Labs stated that this move could potentially create new revenue sources for Aave DAO.