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Stablecoin market cap nears $300B as line between TradFi and DeFi is fading

The stablecoin market is nearing a $300 billion cap, growing 18% in the last 90 days and more than doubling since the start of 2024. Key developments include Mastercard's integration of USDG, USDC, PYUSD, and FIUSD, showcasing stablecoins' potential for faster, cheaper cross-border payments. Ashok Venkateswaran of Mastercard emphasized that stablecoin adoption will snowball as financial institutions and regulators unify. CFTC's initiative on tokenized collateral and a plan from nine European banks to launch a euro-denominated stablecoin in 2026 indicate a move away from U.S. dominance in this space. Amidst these developments, stakeholders from both traditional and blockchain finance are recognizing that adherence to legacy practices may lead to obsolescence, especially as stablecoins become more relevant. The demand for local currency stablecoins is debated, as some see minimal need in robust banking systems, while others highlight a significant need from the underbanked for USD-based accounts. Overall, the boundaries between traditional finance and blockchain are blurring, signaling the emergence of a new hybrid financial ecosystem.

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SOL traders smash buy ahead of SEC Solana ETF decision: Is $250 back on the table?

SOL traders viewed the recent dip to $190 as an opportunity to buy ahead of the SEC's impending decision on Solana ETFs, expected by October 10. Following this drop, SOL's price surged to $213, marking a nearly 12% increase over three days. Retail traders actively accumulated

Here’s what happened in crypto today

Today in crypto news, Kazakhstan launched its first state-backed crypto reserve in partnership with Binance, marking a significant step into digital assets. The Alem Crypto Fund, initiated by the Ministry of Artificial Intelligence and Digital Development, has BNB as its initial investment. Meanwhile, Polish lawmakers advanced a restrictive Crypto-Asset Market

Kazakhstan Launches State-backed Crypto Fund; Poland Moves to Regulate Digital Assets

Kazakhstan, in partnership with Binance, has launched its first state-backed crypto fund, the Alem Crypto Fund, marking a significant step in the country's embrace of digital assets. The fund's initial asset is BNB, Binance's utility token, although details about the amount purchased remain undisclosed.

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