🚨 KakaoBank is eyeing South Korea’s stablecoin market! CFO | Crypto_Minister on Binance Square

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🚨 KakaoBank is eyeing South Korea’s stablecoin market!
CFO confirms plans for digital assets and custody services, teaming up with Kakao’s stablecoin task force.
KRW based stablecoins are heating up and KakaoPay already filed trademarks 👀
#Crypto #CryptoNews #SouthKorea  #Kakao  #CFO 

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Tether acquires stake in Bit2Me to boost EU, Latin America expansion Tether acquired a minority stake in Bit2Me to expand its presence in Latin America and the EU Summary Tether led a €30 million funding round in Bit2Me Bit2Me recently secured a license to operate under MiCA regulations The firm will use the funds to expand in Latin America and the European Union Tether is expanding its presence in Latin America and the European Union. On Thursday, August 7, Tether acquired a minority stake in Bit2Me, one of the largest crypto platforms focused on Spanish speakers. As part of the deal, Tether is leading a €30 million funding round in the firm. The investment comes after Bit2Me acquired Spain’s Crypto-Asset Service Provider license. This enables the exchange to comply with the European Union’s MiCA regulation, giving it authorization to operate in all 27 EU member states. “Bit2Me has consistently demonstrated its commitment to building compliant, secure, and intuitive infrastructure for the digital asset ecosystem,” said Paolo Ardoino, CEO of Tether. You might also like: TRON becomes primary settlement layer for Tether’s USDT, data show Bit2Me co-founder and COO Andrei Manuel explained that the funds raised will be used to expand the company’s presence in the EU and Latin America. In particular, the focus will be on Argentina, which has long been struggling with macroeconomic instability. “With their backing, we aim to accelerate our leadership in Europe and Latin America, markets that are just beginning to unlock the power of decentralized finance,” Andrei Manuel, Bit2me. Tether threatened by EU, U.S. regulations This investment comes despite Tether’s ongoing regulatory issues in the European Union. Notably, MiCA regulations demand strict disclosures for stablecoin issuers. However, this was something Tether was unwilling to provide, effectively blocking it from the EU market. Tether may soon face similar challenges in the United States, which recently passed the GENIUS Act. #tether #bit2me #latinamerica #MICA #EuropeanUnion

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💥Breaking💥 Paxos pays $48.5m to settle NY charges over Binance USD New York financial regulator accused Paxos of failing to do the required due diligence when partnering with Binance. Summary Paxos reached a $48.5M settlement with New York regulators SEC ended its probe into Paxos in July Paxos was under scrutiny over its Binance USD stablecoin Paxos has resolved its legal dispute with New York authorities over its partnership with Binance. On Thursday, August 7, the issuer of PYUSD and BUSD reached a $48.5 million settlement with the New York Department of Financial Services. New York regulators accused Paxos of failing to conduct sufficient due diligence on its partner, Binance. Under the terms of the settlement, Paxos will pay a $26.5 million fine and invest $22 million to strengthen its compliance program. The two firms entered into a partnership in 2020, making Paxos the issuer of the BUSD token. Both Paxos and Binance marketed the token as a regulated stablecoin under U.S. law. At its peak, BUSD became the third-largest stablecoin, with over $23 billion in circulation. However, in late 2022, regulatory scrutiny around BUSD intensified, with both the NYDFS and the U.S. Securities and Exchange Commission launching investigations. According to New York authorities, Binance failed to comply with anti-money laundering protocols. Simultaneously, the SEC alleged that BUSD was an unregistered security. In February 2023, New York regulators ordered Paxos to halt minting new BUSD tokens. Paxos complied and continued processing redemptions, leading to a steady decline in BUSD circulation. Around the same time, Binance began distancing itself from the token. #Paxos #newyork #SEC #US #BUSD

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Bitcoin’s on-chain financial layer takes shape

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BitcoinFi clears $10b in TVL as lending, staking gain real-world traction: Maestro The latest data from Maestro suggests Bitcoin’s financial stack is maturing quickly. With $7.39 billion already staked and another $3.32 billion in restaking, the narrative of passive HODLing is steadily being replaced by active, on-chain capital deployment. According to Maestro’s State of BitcoinFi report shared with crypto.news on August 7, the BitcoinFi ecosystem has surpassed $10 billion in total value locked, driven primarily by staking and lending protocols. The report, based on protocol-level data and market analysis from H1 2025, was compiled in collaboration with BitcoinFi Accelerator, marking the first comprehensive analysis of Bitcoin’s Bitcoin transition from a static store of value to a dynamic financial network. It identifies $7.39 billion in BTC staked across yield-bearing platforms and an additional $3.32 billion engaged in restaking strategies, with Babylon, Liquidium, and Stacks emerging as early leaders in their respective niches. #BitcoinFi #maestro #babylon #liquidium #cryptonews #stacks

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💥Breaking news💥 Binance Introduces Quick Mastercard Withdrawals in Europe Binance has launched direct crypto-to-card withdrawals for European users via Mastercard, allowing near-instant conversion of digital assets into spendable funds on linked cards. In a significant move for cryptocurrency usability, Binance has integrated Mastercard to enable near-instant crypto-to-card withdrawals for users in Europe. This feature allows for quick conversion of digital assets into fiat, enhancing the real-world application of cryptocurrencies. Meanwhile, BitcoinFi is witnessing a surge in activity, with over $10 billion in total value locked (TVL) as lending and staking gain traction. The report highlights a shift from passive holding to active capital deployment, with platforms like Babylon leading in staking. Additionally, OpenAI has launched its enhanced GPT-5 model, improving programming and writing capabilities, while Circle has minted an additional 50 million USDC on Ethereum, reflecting ongoing efforts to manage stablecoin supply. Lastly, Animoca Brands and ProvLabs have formed a strategic partnership to develop NUVA, a vault marketplace aimed at connecting real-world asset issuers with investors. Together, these developments underscore the evolving landscape of cryptocurrency and blockchain technology, emphasizing the growing intersection of digital assets with traditional finance. #binance #mastercard #bitcoinfi #europe #NUVA

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