Digital Currency

The Bank of Korea has suspended its central bank digital currency (CBDC) trials after participating banks showed increased interest in government-endorsed stablecoins. This shift highlights the evolving landscape of digital currencies in South Korea and the impact of regulatory decisions on CBDC development.

Mastercard is paving the way for a future enriched with stablecoin transactions. By partnering with MoonPay, users can convert stablecoins like USDC into local currencies for real-world purchases. This innovation includes debit cards linked to crypto holdings and on-chain identity tools, aiming to simplify cross-border payments. However, the U.S. legislation on stablecoins is currently stalled, with bipartisan negotiations still ongoing.