Interactive Brokers has launched round-the-clock account funding using Circle’s USDC stablecoin, marking a notable shift in how clients can move money into the markets. Specifically, the Nasdaq-listed brokerage stated that the update allows traders to fund accounts at any time and begin trading immediately, without being constrained by traditional bank operating hours.
Bank of America has highlighted the threat that stablecoins would pose for US banks and their operation if they incorporated yield-bearing features. Its CEO, Brian Moynihan, told reporters during the company's quarterly earnings call on Wednesday that banks would see a massive liquidity outflow into stablecoins.
Societe Generale has completed a blockchain settlement test with SWIFT, showing that tokenized bonds can move smoothly between blockchain networks and traditional financial systems. The pilot suggests that regulated stablecoins and existing payment systems can work together, rather than compete.
US lawmakers are taking a closer look at how stablecoin rewards should be regulated and how certain digital tokens should be classified under federal law. A new draft from the Senate Banking Committee aims to clarify rules around stablecoin incentives and update disclosure requirements for tokens tied to exchange-traded products.
Wyoming has officially opened public access to its state-backed stablecoin, marking a first-of-its-kind launch in the United States. The digital asset, known as Frontier Stable Token (FRNT), became available this week following months of regulatory delays.
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