Cena Minter HUBHUB

⚡️ JUST IN: Michael Saylor’s Strategy is launching a Bitcoin Hub. Hub members will have access to a “Free Co-Working Space for Advancing Bitcoin Innovation and Adoption”

In a major advance for the adoption of stablecoins in the financial sector, the Dubai International Financial Centre (DIFC) has officially recognized USDC and EURC as the first regulated stablecoins within its legal framework. This recognition marks a key milestone for Circle as it asserts itself against its direct competitor, Tether’s USDT. The DIFC, the main financial hub of the Middle East, is integrating Circle’s stablecoins into its innovative regulatory framework, designed to meet the growing demands of businesses and institutions seeking secure and compliant digital solutions. This decision strengthens Dubai’s position as a global leader in crypto adoption and blockchain technologies. Furthermore, USDC and EURC are fully backed by reserves of fiat currency and are regularly audited, ensuring increased transparency and stability. Thanks to this recognition , companies operating within the DIFC will be able to use these cryptocurrencies for various financial transactions, including payments, settlement of digital assets, and decentralized financial services (DeFi). Jeremy Allaire, CEO of Circle, hailed this initiative as a significant advancement for the global adoption of digital currencies. He emphasized that this recognition paves the way for broader use of stablecoins in regulated jurisdictions, thus enhancing their credibility and role in the global digital economy. Moreover, Ryan Lee, chief analyst at Bitget, thinks the same: This decision strengthens confidence in stablecoins amidst regional volatility, boosts Circle’s competitive position against Tether’s USDT dominance, and could reshape the $157 billion stablecoin market by legitimizing USDC and EURC for broader use. Additionally, this announcement fits into a broader context of crypto adoption in the United Arab Emirates, where financial authorities are striving to establish a clear and innovation-friendly regulatory framework. By integrating USDC and EURC, the DIFC reaffirms its commitment to attracting fintech and blockchain companies by providing a compliant and secure environment. This recognition of USDC and EURC stablecoins by the DIFC in Dubai thus marks a major advancement for the adoption of digital currencies in a regulated framework. It strengthens Dubai’s position as an innovative financial hub and opens new opportunities for the integration of cryptocurrencies into the global economy.

Chainlink, Hyperlane and Velodrome launch Super USDT for OP Superchain Chainlink, Hyperlane and Velodrome have teamed up to launch Super USDT, an interoperable USDT stablecoin for the OP Superchain ecosystem, according to Crypto Briefing. Secured by Chainlink CCIP and powered by Hyperlane for cross-chain transfers, Super USDT aims to solve liquidity fragmentation by providing a unified, cost-effective stablecoin solution. It is currently available on eight chains, including Base, Fraxtal, Lisk, Metal, Mode, Optimism, Soneium and Unichain, with Celo as the hub chain.

The plan by Hong Kong Asia Holdings to expand its Bitcoin reserves has piqued market interest. After originally showing an unexpected rise in its stock price following its first acquisition, the company has just been authorized to purchase more Bitcoin. Behind this audacious action, though, the Hong Kong government is simultaneously developing a new plan to turn the city into a worldwide virtual asset hub. 💥BREAKING: Hong Kong Asia Holdings just got approval to buy more Bitcoin for its balance sheet! ASIA IS BULLISH ON #BITCOIN 🚀 pic.twitter.com/1otVu0SEE2 — Crypto Rover (@rovercrc) February 23, 2025 The board of directors of Hong Kong Asia Holdings has at last approved increased Bitcoin investment. Using internal funds valued at HK$5.9369 million, the corporation recently bought about 7.88 BTC. Their total Bitcoin holdings now stand at 8.89 coins thanks to this transaction; their average cost per Bitcoin is roughly HK$756,200. Originally, the first acquisition of one Bitcoin on February 16 instantly raised the stock price of the company by approximately 93%. In a few days, It is logical that market players are closely observing this next phase with tremendous excitement. Still, the choice to keep accumulating Bitcoin is not only about normal investment. This underscores a growing trend in Hong Kong, where businesses are beginning to see digital assets as a component of their long-term financial plan. On the other hand, the government of Hong Kong is not just sitting around. According to CNF , the city has presented a fresh road map to help it to remain a worldwide virtual asset hub. This phase covers several facets, including staking services, tighter licensing rules, and growing the digital trading environment. Under this approach, Hong Kong intends to grow derivatives trading services, OTC (over-the-counter), digital asset custody, and crypto asset financing. Attracting additional global liquidity and persuading institutional investors that Hong Kong is a safe and reliable location for their digital investments are obviously the main objectives. This action also fits the growing local businesses’ curiosity in Bitcoin and other cryptocurrencies. More companies may follow in the footsteps of Hong Kong Asia Holdings with better rules and government backing. Regarding digital asset rules, the Hong Kong government is well recognized to be rather proactive. Looking prepared to challenge other digital asset hubs like Singapore and Dubai, the city seems set with a new agenda including a spectrum of crypto-based financial services. Regulating changes, meanwhile, also provides certain difficulties. Not all market actors can react as fast as restrictions get stricter. The new criteria might overwhelm some companies, particularly those used to operating in a more free environment. For larger companies like Hong Kong Asia Holdings, though, this legislation might really be a benefit. More institutions may join the market if more rules help to lower the uncertainty risk. Given more companies beginning to buy Bitcoin, one wonders whether this will develop into a new trend in Hong Kong. Should the government be successful in transforming the city into a virtual asset hub, we could observe increasing public corporations, including Bitcoin, on their balance sheets.

Standard Chartered Bank Hong Kong (SCBHK), Animoca Brands, and Hong Kong Telecommunications (HKT) have partnered to establish a joint venture (JV) focused on issuing a Hong Kong dollar-backed stablecoin. The JV intends to apply for a license under the Hong Kong Monetary Authority’s (HKMA) new regulatory framework. HKD-Backed Stablecoin According to the official press release, SCBHK, Animoca Brands, and HKT have engaged in HKMA’s stablecoin issuer sandbox since July 2024. The trio has been assessing how stablecoins can facilitate financial market development and payments by connecting Web3 and traditional finance. The partnership is in line with Hong Kong’s ambition to strengthen its role as a global digital assets hub. By leveraging expertise across banking, telecommunications, and blockchain, the JV aims to create a secure and regulatory-compliant stablecoin framework. The initiative aligns with the city-state’s broader strategy to boost digital finance adoption while ensuring compliance with evolving regulatory requirements. In an official statement, Bill Winters, Group Chief Executive of Standard Chartered, said, “Digital assets are here to stay and the development of different forms of tokenized money is integral to the advancement of this industry. That is why we are actively involved in various Central Bank Digital Currencies, tokenized deposits, and, of course, stablecoins projects. We are introducing solutions and instruments that service this market and meet the growing client demand. As public chain instruments with proven use cases, stablecoins play a critical role in the overall digital asset ecosystem.” Hong Kong Eyes Bitcoin as a Strategic Asset Besides the ambitious stablecoin initiative, Hong Kong is also considering adding Bitcoin (BTC) to its fiscal reserves as a hedge against inflation and a store of value. Wu Jiexhuang, a Hong Kong legislative council member, recently proposed using foreign exchange funds to acquire Bitcoin, citing potential benefits such as attracting talent, boosting the local crypto industry, and increasing tax revenue. He said that leveraging China’s “one country, two systems” framework, adding Bitcoin to Hong Kong’s reserves could give the region an early advantage and help mitigate economic instability from its wider adoption in traditional financial markets. The post Standard Chartered, Animoca, and HKT to Develop HKD-Pegged Stablecoin appeared first on CryptoPotato.