Flutterwave announced a Series E funding round valuing the company at $3.2 billion, including an investment from Ripple. The deal aims to expand financial services in Africa, addressing challenges in cross-border payments.
South Korea's Kbank has signed a strategic partnership with Ripple to test blockchain-based overseas remittances, placing a bank with a central role in Upbit's KRW account access beside one of crypto's longest-running payments infrastructure firms. Local reports describe the work as a technical verification, or proof-of-concept, focused on whether Ripple's infrastructure can improve the speed, […] The post The South Korean bank powering Upbit is testing Ripple integration for cross-border payments appeared first on CryptoSlate.
The impact of stablecoins on the banking sector is currently limited, but could increase as the sector grows beyond $300 billion in market cap, potentially causing deposit outflows and reduced lending capacity. The stalled CLARITY Act faces opposition from both crypto industry and banks over yield-bearing stablecoins.
Moody's analysts say stablecoins currently have limited impact on the banking sector, with market cap exceeding $300 billion at end of last year. While US rules prohibiting yield on stablecoins prevent them from replacing traditional deposits domestically in the near term, growing adoption of stablecoins and tokenized real-world assets could pressure banks through deposit outflows and reduced lending capacity. The stalled CLARITY Act in Congress reflects ongoing tensions between crypto industry and banking lobby over yield-bearing stablecoins.
