Nine European banks to launch euro-denominated stablecoin

The Office of the Comptroller of the Currency (OCC) has confirmed that U.S. national banks are allowed to hold cryptocurrency on their balance sheets specifically to pay for blockchain network fees. This decision aims to facilitate the integration of traditional banking with cryptocurrency, enabling banks to manage their crypto holdings effectively. The OCC's clarification is seen as a significant step towards embracing digital currencies within the financial system.

The US banking regulator has permitted banks to hold cryptocurrencies to pay network fees, a decision that could significantly enhance the integration of traditional banking with the cryptocurrency sector. This regulatory change is expected to reshape financial services and payment systems, allowing banks to engage more actively in the crypto market.

Deutsche Börse has announced the integration of regulated euro and dollar stablecoins from Societe Generale into its core market systems. This move enhances the exchange's settlement and collateral tools, reflecting a growing trend towards the adoption of stablecoins in traditional finance. The inclusion of these stablecoins is expected to facilitate more efficient trading and settlement processes within the European financial markets.

Alibaba and JPMorgan are launching tokenized deposit rails for global B2B payments, significantly reducing transaction settlement times from days to nearly instant. These deposit tokens, which maintain funds within the banking perimeter while utilizing blockchain technology for speed, will enhance wallet infrastructure to manage various digital currencies. The Best Wallet combines a non-custodial, multi-chain wallet with a DEX aggregator and other features, allowing token holders to benefit from lower fees and increased staking yields.

Japan's Financial Services Agency (FSA) is reportedly preparing to classify certain cryptocurrencies as financial products, which would subject them to stricter regulations and tax treatments. This significant shift in policy aims to provide a clearer legal framework for digital assets in Japan, reflecting the growing importance of cryptocurrencies in the financial landscape. The proposed changes are expected to enhance consumer protection and improve the overall integrity of the crypto market in the country.