fiat

SolanaFloor posted on the X platform that Avici has launched a virtual account naming feature on Solana, providing users with personal accounts and International Bank Account Numbers (IBAN) for receiving fiat currency. The funds sent will be automatically converted into stablecoins and credited to the user's self-custody wallet.

According to Finbold, Everstake has partnered with Cometh to integrate Everstake's institutional-grade staking infrastructure into Cometh's custodial ecosystem. This will allow customers to deposit fiat directly from their bank accounts and convert it into eligible crypto assets for staking, subsequently earning rewards that can be settled back to fiat.The report states that this collaboration comes at a time when institutional interest in staking has reached an all-time high. Data shows that the proportion of institutions participating in staking has surged from 31% in 2024 to 44% in 2025, with the total locked value on EU cryptocurrency platforms growing by 28% in just the first quarter. Currently, over 150 cryptocurrency companies hold MiCA licenses.

Chainalysis pointed out in the "2025 Cryptocurrency Adoption Index Report" that from July 2024 to June 2025, Bitcoin will attract over $1.2 trillion in fiat funds, firmly establishing itself as the preferred asset for fiat entry into the cryptocurrency market.Ethereum attracted approximately $724 billion during the same period, while Layer 1 public chain tokens and stablecoins ranked third and fourth with $564 billion and $497 billion, respectively.

Coinbase has reopened registration for Indian users, after having suspended the service for over two years. Indian users can now conduct crypto-to-crypto trading within the app. John O'Loghlen, Coinbase's Asia Pacific head, stated at India Blockchain Week that the company plans to launch fiat deposit channels by 2026, at which point users will be able to directly deposit and purchase crypto assets.Coinbase entered the Indian market in 2022 but suspended support for the Unified Payments Interface (UPI) just days after launch, as the UPI operator NPCI did not confirm Coinbase's local operations. Subsequently, the company ceased services for Indian users in 2023 and requested users to liquidate their accounts. O'Loghlen mentioned that the company's decision to fully exit was to restart operations within a compliant framework. This year, Coinbase has communicated with the Indian Financial Intelligence Unit (FIU) and completed registration, re-listing the app in October through an "early access" program, which is now open to all users.Despite India being the second-largest internet market in the world, strict crypto regulations and tax policies pose challenges to industry development. The Indian government imposes a 30% tax rate on crypto income with no allowance for loss offsets, and a 1% tax deduction on every transaction. Coinbase expressed hope for future policy relaxations. Despite the stringent regulations, Coinbase remains optimistic about the Indian market, with its investment arm recently increasing its investment in the local exchange CoinDCX (post-money valuation of $2.45 billion) and planning to expand its team of over 500 people in India. O'Loghlen stated that Coinbase aims to be a trusted platform for users, providing a safe and convenient trading experience in the Indian market.

According to official news, Ripple announced that its USD-backed stablecoin Ripple USD (RLUSD) has been recognized by the Abu Dhabi Financial Services Regulatory Authority (FSRA) as an "approved fiat-pegged token," which can be used within the Abu Dhabi Global Market (ADGM), the international financial center in the capital of the United Arab Emirates (UAE).

CoinW today announced a further deepening of its strategic cooperation with global fintech payment service provider Unlimit to enhance the platform's global fiat deposit capabilities and underlying payment infrastructure.Since establishing their partnership this year, both parties have been continuously advancing the technical integration and compliance expansion of payment channels. This upgrade will enable CoinW's Quick Buy feature to fully integrate with Unlimit's card payment capabilities, providing global users with a more stable, secure, and widely covered fiat deposit experience.Founded in 2009, Unlimit boasts an industry-leading proprietary payment network, integrating over 1,000 payment methods and serving multiple locations worldwide.CoinW stated that this deepened cooperation will further enhance the platform's payment coverage and reliability in key markets such as Europe and Latin America, improve its global and compliant deposit system, and promote a deeper connection between crypto assets and traditional finance.This article does not constitute any investment, trading, or purchasing advice. The risks of investing in digital assets are high, and users should participate cautiously based on their own circumstances and comply with the laws and regulations of their jurisdiction.

According to Aastocks, Lu Zhihong, a member of the Hong Kong Stablecoin Review Tribunal and the Web3 Development Group, stated that currently, Hong Kong only allows fiat-collateralized stablecoins backed by legal tender. Applicants must have a capital scale of at least HKD 25 million to ensure sufficient financial strength to operate and manage market risks. The issuer's fiat funds must be invested in highly liquid, low-risk assets to ensure that the stablecoin's value can be reliably supported, and they must also undergo independent audits to provide compliance proof to regulatory authorities.

Citibank and Swift announced the completion of a pilot project for Payment-versus-Payment (PvP) settlement processes between fiat and digital currencies, validating the feasibility of interoperability between traditional financial systems and distributed ledger networks. This pilot was implemented using existing Swift infrastructure and achieved through seamless integration of institutional-grade blockchain connectors, business process coordinators, and smart contracts. Additionally, in the pilot, Citibank utilized the test version of USDC on the Ethereum Sepolia testnet to simulate a near-production environment.

According to an official announcement from Square, its Bitcoin payment feature has officially launched, allowing merchants to choose from four payment methods: BTC → BTC, BTC → fiat, fiat → BTC, or fiat → fiat.Square founder Jack Dorsey stated on the X platform that this feature allows sellers to directly receive Bitcoin into their Square wallet or choose to automatically convert it to USD for settlement, marking the formal integration of Bitcoin payments into the mainstream merchant system.

According to The Block, hardware and software company Arx Research has completed a $6.1 million seed round financing, led by Castle Island Ventures, with participation from Inflection, Placeholder, Seed Club Ventures, and 1kx.The company has officially launched a handheld POS device called "Burner Terminal," which integrates digital assets and traditional payments. This terminal is EMV certified, supports stablecoins, contactless cards, and chip-and-PIN card payments, and integrates the Flexa network to support cryptocurrencies like Bitcoin and Ethereum. The product is designed specifically for small merchants such as food trucks and hair salons, enabling mobile payments via WiFi and LTE networks, allowing consumers to pay through their phones by tapping, using a Burner card, or scanning a QR code.The founding partner of Castle Island Ventures pointed out that this is the first time stablecoins have truly entered the physical retail space. The company's CEO stated that if merchants accept stablecoins directly, the fee structure could be close to free. The funding will be used to scale production, develop the ecosystem, and expand into the North American and Latin American markets, with plans for a full product launch in early 2026.

ChainCatcher news, according to Globenewswire, VCI Global Limited, a publicly listed company in the US, will launch a gold-backed cryptocurrency platform based on Ethereum through its subsidiary Smart Bridge.The platform aims to capture opportunities in the cryptocurrency exchange market and the tokenized asset space by combining blockchain innovation with tangible value.

ChainCatcher news, the financial blog Zerohedge stated on the X platform: "Artificial intelligence has become the new global arms race, and capital expenditures will ultimately be covered by the government. If you want to understand why the prices of gold, silver, and Bitcoin have skyrocketed, it's because governments are printing a lot of money to support this AI competition, leading to currency devaluation. Has anyone calculated how many nuclear power plants the U.S. will need to build by 2028 to power all these daily 'self-indulgent' AI transactions?" In response, Musk commented: "This is why Bitcoin is energy-based: you can issue fake fiat currency, every government in history has done this, but energy cannot be faked."

ChainCatcher news, during the TOKEN 2049 held in Singapore, Adam Cai, CEO of Virgo Group, delivered a keynote speech titled "Redefining Global Finance with Stablecoins and Web3 Wallet Solutions" at the RootData Crypto Capital Markets Forum.Adam Cai revealed that Virgo Group's business is growing rapidly, with its wealth management platform Virgo Wealth exceeding $2.6 billion in trading volume by December 2024. Meanwhile, its Web3 wallet solution "Wallet V" achieved $100 million in trading volume within 30 days.He stated that the group's core payment product VirgoPAY aims to provide faster, lower-cost, and more accessible cross-border financial services by integrating fiat and stablecoins. In addition, Virgo Digital Asset Management, regulated by the Ontario Securities Commission, offers qualified investors a range of multi-strategy digital asset fund options from conservative to aggressive.

ChainCatcher news, the crypto payment company Alchemy Pay announced a partnership with the next-generation Web3 self-custody wallet TopNod to integrate its fiat-to-crypto deposit and withdrawal solutions into the TopNod wallet. This collaboration enables users to buy and sell crypto assets directly within the wallet using various payment methods, including bank cards, mobile wallets, and local transfers, in 173 countries, covering RWA, mainstream tokens, and stablecoins.TopNod is a wallet supported by Ant Group's Ant Chain technology, officially launched at the end of September, and Alchemy Pay is one of its inaugural partners.

ChainCatcher news, according to BitcoinTreasuries.NET, billionaire Mark Cuban stated that Bitcoin Treasury companies are an alternative to hedge against fiat currency.

ChainCatcher news, according to Cointelegraph, the Central Bank of Kazakhstan is partnering with Solana and Mastercard to launch a pilot project for a new stablecoin pegged to the local currency, the Kazakhstani tenge.According to the statement, the country's national bank has initiated this project within its digital asset regulatory sandbox framework. The new Evo (KZTE) stablecoin is issued with the assistance of sandbox participants, the crypto exchange Intebix and Eurasian Bank. The founder of Intebix stated that KZTE is based on the Solana blockchain and has been launched within the central bank's regulatory sandbox, with Mastercard planning to connect it with global stablecoin issuers.Kazakhstan's newly launched Evo stablecoin is referred to as a "national stablecoin," aimed at bridging cryptocurrency innovation with traditional finance. Its use cases include expanding cryptocurrency-fiat channels, facilitating exchanges, and supporting cryptocurrency card transactions. This project is part of the national bank's strategy to build a digital asset ecosystem, and although it is technically issued by Intebix and Eurasian Bank, the central bank is involved through regulatory mechanisms.

ChainCatcher news, according to Financefeeds, the Central Bank of Bahrain (CBB) has launched a Stablecoin Issuance and Offering (SIO) regulatory module, becoming the first comprehensive regulatory framework of its kind in the Gulf Cooperation Council (GCC) region.The framework only allows fiat-backed stablecoins, which can be pegged to the Bahraini Dinar, the US Dollar, or other fiat currencies explicitly approved by the central bank, and prohibits algorithmic or commodity-backed stablecoins. Issuers must obtain a central bank license and meet strict prudential standards, including maintaining reserves in high-quality liquid assets and undergoing regular external audits. The regulatory scope covers the entire ecosystem, including custodians, wallet providers, and payment service providers. The framework aligns with international standards, with a particular emphasis on anti-money laundering and counter-terrorism financing requirements.