Circle is expanding into the massive foreign exchange market with new onchain infrastructure, positioning stablecoins as a tool to modernize one of traditional finance’s most entrenched systems. The company aims to provide institutions deeper global liquidity access while reducing intermediaries and counterparty risk in the $9.6 trillion daily FX market, representing a significant bridge between cryptocurrency infrastructure and traditional finance’s largest market.
about Circle Launches Onchain FX Platform with StablecoinsWorld Bank
0 in Finance and 0 in Crypto last weeka16z Leads $12.9M Round for Pakistan Stablecoin Startup ZAR
Venture capital giant Andreessen Horowitz is leading a $12.9 million funding round for fintech startup ZAR, which aims to bring dollar-backed stablecoins to Pakistan’s unbanked population through an innovative distribution model leveraging the country’s extensive network of corner stores and kiosks. This approach represents a significant departure from traditional crypto distribution methods and could potentially reach millions who currently lack access to traditional banking services.
about a16z Leads $12.9M Round for Pakistan Stablecoin Startup ZARUN Roundtable: Digital Sovereignty Key to Financial Inclusion
At a landmark United Nations General Assembly roundtable, global leaders converged to address one of the world’s most pressing development challenges: bridging the financial inclusion gap for 1.7 billion unbanked individuals. The Digital Sovereignty Alliance took center stage in discussions that positioned digital sovereignty and blockchain technology as essential pillars for building equitable financial systems that empower rather than simply provide access.
about UN Roundtable: Digital Sovereignty Key to Financial InclusionBhutan Builds National Digital Identity on Ethereum
The Himalayan Kingdom of Bhutan is making a strategic pivot to Ethereum as the foundation for its National Digital Identity system, marking one of the most significant real-world implementations of blockchain technology for public infrastructure. This migration from Polygon to Ethereum aims to provide all 800,000 citizens with self-sovereign digital identities by 2026, representing a major endorsement of Ethereum’s decentralization and security capabilities for national-scale applications.
about Bhutan Builds National Digital Identity on EthereumSwiss Leaders to Attend IMF-World Bank 2025 Meetings
Switzerland’s top financial policymakers, including Federal Councillor Guy Parmelin and Swiss National Bank Chairman Martin Schlegel, will participate in the 2025 International Monetary Fund and World Bank Annual Meetings in Washington this October. The high-level delegation will engage in critical global financial discussions, including the preceding G20 meeting on monetary issues, while leveraging the platform for strategic bilateral talks with international counterparts.
about Swiss Leaders to Attend IMF-World Bank 2025 MeetingsRipple Expands in Middle East via Bahrain Partnership
Ripple is strategically expanding its Middle East footprint through a new partnership with Bahrain Fintech Bay, positioning the blockchain company to capture a significant portion of the region’s $58 billion remittance market. This collaboration leverages Bahrain’s progressive regulatory environment and Ripple’s XRP-based settlement technology to address longstanding challenges in cross-border payments, while the RLUSD stablecoin provides crucial currency stability in a volatile market. The move represents a calculated expansion that could transform how value moves across the Gulf region.
about Ripple Expands in Middle East via Bahrain PartnershipPakistan Opens Market to Licensed Foreign Crypto Exchanges
Pakistan’s Virtual Asset Regulatory Authority (PVARA) has issued a call for expressions of interest from foreign virtual asset service providers and exchanges, marking a significant opening of its digital asset markets. Only companies licensed by established regulators such as the U.S. SEC, U.K. FCA, EU VASP framework, UAE’s VARA, or Singapore’s MAS are eligible to apply. Applicants must submit comprehensive details including licenses, services, technology standards, and a Pakistan-specific operating model. The framework is designed to align with international standards set by FATF, IMF, and World Bank. This development comes as Pakistan ranks third globally in crypto adoption with approximately 20 million users, reflecting growing acceptance and the recent establishment of a government-backed Bitcoin reserve.
about Pakistan Opens Market to Licensed Foreign Crypto ExchangesBitcoin Rises as Trump Picks Pro-Crypto Fed Nominee
Bitcoin climbed to $117,500 following Trump’s nomination of Stephen Miran, a known Bitcoin advocate, to the Federal Reserve Board. Miran’s appointment is seen as a dovish shift, aligning with Trump’s push for easier monetary policy. Analysts caution that reduced Fed independence could fuel inflation, drawing parallels to the 1970s when gold prices skyrocketed after the collapse of Bretton Woods. Despite Bitcoin’s rally, its market cap remains dwarfed by traditional assets like NVIDIA, suggesting room for growth if inflation fears escalate. Weak Treasury demand and rising gold prices signal market concerns over persistent inflation, with the latest PCE reading at 2.6%, above the Fed’s target.
about Bitcoin Rises as Trump Picks Pro-Crypto Fed NomineeIMF Rejects Pakistan’s Bitcoin Mining Electricity Subsidy Plan
The IMF has pushed back against Pakistan’s plan to subsidize electricity for Bitcoin mining and other energy-intensive sectors, warning of risks to the already strained power grid and unfair advantages to niche industries. Pakistan’s proposal, supported by the Pakistan Crypto Council (PCC), sought to attract foreign investment and strengthen digital infrastructure, but the IMF highlighted concerns over transparency and stakeholder consultation. With circular debt exceeding $4.5 billion, the initiative could further destabilize the energy market. Meanwhile, Pakistan continues its broader crypto-friendly push, including regulatory frameworks and partnerships, despite IMF scrutiny.
about IMF Rejects Pakistan's Bitcoin Mining Electricity Subsidy PlanWorld Bank Predicts Thailand’s Monetary Easing Amid Crisis
The World Bank anticipates Thailand’s monetary policy will turn more accommodative this year due to heightened external and domestic risks. The nation faces economic uncertainty exacerbated by a political crisis, including the temporary suspension of Prime Minister Paetongtarn Shinawatra. This shift suggests potential interest rate cuts or stimulus measures to stabilize the economy amid growing instability.
about World Bank Predicts Thailand's Monetary Easing Amid CrisisCrypto Threatens U.S. Dollar Dominance, Says Ex-IMF Economist
Harvard economist and former IMF chief Kenneth Rogoff asserts that cryptocurrencies are undermining the U.S. dollar’s supremacy, especially in the underground economy, which he estimates at $20–$25 trillion. Rogoff notes that crypto is increasingly replacing the dollar in illicit transactions, tax evasion, and sanctions avoidance, weakening the dollar’s global influence. This shift could lead to higher interest rates and reduced U.S. financial leverage. While Rogoff acknowledges crypto’s value as a medium of exchange, he clarifies it won’t replace the dollar in regulated markets. The trend highlights the tension between crypto’s utility in unregulated spaces and its impact on traditional financial systems.
about Crypto Threatens U.S. Dollar Dominance, Says Ex-IMF EconomistRipple’s XRP Praised for Fast, Low-Cost Global Payments
The Institute of International Finance (IIF) has endorsed Ripple’s XRP as a fast and cost-effective solution for cross-border payments in its feedback to the Bank for International Settlements (BIS). The report, aligned with the G20’s payment modernization roadmap, praised XRP’s near-instant settlement times and efficiency in regions with limited banking infrastructure. While Ripple’s stablecoin RLUSD was not mentioned, the company continues to expand its global payment solutions, with partners like SBI Remit leveraging XRP for remittances. The IIF also highlighted broader payment innovations like ISO 20022 and Project Agorá, reinforcing the shift toward faster, cheaper international transactions.
about Ripple's XRP Praised for Fast, Low-Cost Global Payments