Tag: Stablecoin

BusinessInnovationTechnology

Digital Banking Innovator Pave Bank Secures $39M to Bridge Traditional and Crypto Finance

Pave Bank, a licensed neobank operating across fiat and digital assets, has secured $39 million in Series A funding led by Accel. The bank reportedly serves 400 institutional clients and has processed over $5 billion in transactions since its 2023 launch, according to company statements.

Neobank Expansion in Digital Asset Banking

Singapore-headquartered Pave Bank has reportedly secured $39 million in Series A financing, according to sources familiar with the matter, signaling continued investor confidence in banking platforms that bridge traditional and digital assets. The funding round was led by venture firm Accel with participation from Tether Investments, Quona Capital, and Wintermute, according to the company’s announcement.

by Emma Langford
PolicyTechnology

China Regulators Halt Tech Giants’ Stablecoin Initiatives in Hong Kong

Major Chinese technology firms have suspended their stablecoin initiatives in Hong Kong after receiving directives from Beijing regulators. The move reflects broader concerns about private sector currency issuance and its potential impact on China’s digital currency strategy.

Regulatory Intervention Halts Stablecoin Plans

Chinese technology giants have reportedly paused their stablecoin issuance plans in Hong Kong following intervention from Beijing regulators, according to multiple sources familiar with the situation. Companies including Ant Group and JD.com had previously expressed interest in participating in Hong Kong’s pilot stablecoin program but have now put these ambitions on hold.

by Ava Winslow