ECB’s Schnabel Calls for Central-Bank Money on Blockchain
Infrastructure
“European Central Bank Executive Board member Isabel Schnabel said authorities must bring central-bank money onto the blockchain, in part to revamp the way monetary policy is executed. Going on-chain wouldn’t just preserve money’s role 'as the foundation of settlement,' Schnabel said Friday. 'It would also enable central banks to leverage the programmability of distributed ledgers to modernize monetary-policy implementation, collateral management and liquidity provision, thereby also fostering financial stability.' 'Programmability' refers to money being set to move automatically when certain conditions are met.”
Source: Bloomberg
Dunamu and Visa Partner on Stablecoin, AI Business; Open Standard's OUSD Under Consideration
Stablecoins
“Dunamu, the parent company of South Korean crypto exchange Upbit, announced Friday that it has signed a strategic partnership with Visa for innovative financial services using stablecoins and AI. The companies said they will combine Dunamu's digital asset technology with Visa's global payments network to explore new services in stablecoin-based payments, cross-border remittances, and AI-driven finance. The stated aim for the partnership is safer, more transparent, and interoperable use of digital assets and next-generation payments, in line with regulations. They also plan to link stablecoins to existing global payments infrastructure.”
Source: The Block
Bitcoin Slips Below $80,000 After Kevin Warsh Inflation Vow
Markets
“Bitcoin slipped back below $80,000 on Friday after Federal Reserve Chair Kevin Warsh pledged to bring inflation back to target, pushing short-term Treasury yields higher and cooling some of the week’s risk-on momentum. The move was modest rather than a reversal of the broader crypto rebound. Warsh said financial conditions are not restrictive and stressed that inflation must move clearly toward the Fed’s target, reinforcing expectations that policy could stay tighter for longer. Bitcoin eased with other rate-sensitive assets but remained well above levels seen earlier this month. The crypto market is still in a limbo with no clear directional views in sight after a short squeeze due to a record liquidation in leveraged bearish bets on digital assets last week. The open interest for Bitcoin futures, which makes up the majority of crypto trading, has not seen a significant recovery after the wipeout, according to data from Coinglass.”
Source: Bloomberg
Ninth Circuit Deals Blow to Kalshi in Nevada Sports Betting Fight, Challenging CFTC's Exclusive Jurisdiction Claim
Prediction Markets
“An appeals court sided with a lower court's ruling that prediction markets platform Kalshi failed to show that the federal government preempts Nevada’s authority to regulate sports betting. On Friday, the U.S. Court of Appeals for the Ninth Circuit said in its opinion that Kalshi does not get to have an injunction after the Nevada Gaming Control Board sent the company in 2025 a cease-and-desist letter demanding that it stop its election and sports event contracts in the state, threatening criminal or civil charges. Kalshi then sued the gaming board and the state and asked for a preliminary injunction to prevent Nevada from regulating its trading of sports and election event contracts. The district court initially granted that injunction, but later dissolved it after a ruling made against Crypto.com.”
Source: The Block
SBI Buys 20% Stake in Indonesia's Ajaib for $270 Million to Expand Yen Stablecoin in Southeast Asia
Stablecoins
“SBI Holdings, a major Japanese financial firm, plans to acquire a $270 million stake in Ajaib Group, a major Indonesian online brokerage, before the end of this month. The deal is part of SBI's push to expand JPYSC, its yen-denominated stablecoin, across Southeast Asia and build cross-border settlement infrastructure using blockchain technology. Ajaib gives SBI a foothold in Indonesia, a consumer-retail market worth an estimated $375 billion, according to IMARC Group, and one of ASEAN’s largest retail-investing markets, with more than 20 million retail investors, according to The Straits Times. Ajaib operates online brokerage services, foreign-exchange margin trading, cryptocurrencies and asset management in Indonesia.”
Source: CoinDesk
