Converge

Latest

Stripe's $53B PayPal Bid Would Combine Bridge and PYUSD Under One Owner
TradFi & Fintech

Stripe's $53B PayPal Bid Would Combine Bridge and PYUSD Under One Owner

The unsolicited offer from Stripe and Advent International, if PayPal accepts, would consolidate two of the mainstream payments industry's stablecoin operations.
Coinbase Matches Robinhood's 7% Yield With a Different Design
CeFi

Coinbase Matches Robinhood's 7% Yield With a Different Design

Robinhood pays only the gap between organic yield and a 7% target for a year; Coinbase pays market rate plus token rewards with no ceiling and no end date.
Tether Leads $7M Series A in Pact Labs for USA₮ Payroll
TradFi & Fintech

Tether Leads $7M Series A in Pact Labs for USA₮ Payroll

The stablecoin issuer's latest strategic bet targets payroll, wage access and everyday payments rails for its US-focused USA₮ token.
Lummis Says CLARITY Act Text Coming 'in Next Few Days'
Regulation & Politics

Lummis Says CLARITY Act Text Coming 'in Next Few Days'

The Wyoming senator says the bill will focus on fighting illicit finance, consumer protections and keeping crypto markets onshore in the US.
South Korea Super-App Toss to Run Won Stablecoin Pilot on OP Stack
Blockchains

South Korea Super-App Toss to Run Won Stablecoin Pilot on OP Stack

Optimism says Toss is the fourth regulated financial institution in a year to pick the OP Stack, after Bitpanda, Kraken and Mitsui.
Coinbase Chief Legal Officer Paul Grewal to Step Down
People

Coinbase Chief Legal Officer Paul Grewal to Step Down

Molly Abraham is set to take over as general counsel as Grewal shifts to a three-month advisory role through October.
Circle Wins Final OCC Approval for National Trust Bank
CeFi

Circle Wins Final OCC Approval for National Trust Bank

The stablecoin issuer received a charter for First National Digital Currency Bank, allowing it to custody digital assets and, eventually, hold USDC reserves under direct federal supervision. Shares rose more than 10%.
HSBC Issues First Digitally Native Structured Product in Hong Kong
TradFi & Fintech

HSBC Issues First Digitally Native Structured Product in Hong Kong

The bank placed USD-denominated notes issued directly on a blockchain, with Marketnode acting as tokenization agent and digital paying agent.
Privy Launches Global Fiat Onramps With Stripe in US, EU
TradFi & Fintech

Privy Launches Global Fiat Onramps With Stripe in US, EU

Privy pairs Stripe's Crypto Onramp for the US and EU with its own aggregator covering more than 100 other countries, all funneling into a single wallet.
PayPal's PYUSD Goes Native on Polygon, Joins Open Money Stack
TradFi & Fintech

PayPal's PYUSD Goes Native on Polygon, Joins Open Money Stack

Paxos, the OCC-regulated issuer of PYUSD, said the stablecoin will now settle directly on Polygon rather than moving there as a bridged token.