#StablecoinPayments

The Arizona State Legislature has approved two bills that would pave the way for the creation of the first Bitcoin reserve at the state level, pending the signature of Governor Katie Hobbs.

The legislation allows the state to invest up to 10% of its treasury and pension assets in digital assets such as Bitcoin, while the second bill establishes a strategic reserve fund for digital assets, funded by confiscations and future allocations with regulatory safeguards.

This step is part of a broader trend led by other states like Texas, Florida, and New Hampshire to enhance their position in the digital assets market.

This coincided with Bitcoin trading around the $95,000 level, a 25% increase since early April, supported by a resurgence in institutional demand.