South Korea’s KakaoPay has seen its stock price more than triple over the past month, rising over 200%, as investors expect the company to get involved in stablecoins soon. KakaoPay is part of Kakao, one of the country’s biggest tech companies.The stock jumped from 30,800 Korean won ($22.25) on May 23 to 94,700 won ($68.60), according to Google Finance. On Monday morning alone, the shares rose another 17.3% while the market was still open.This sharp increase began after South Korea’s newly elected president, Lee Jae Myung, announced plans to support Korean won–backed stablecoins and collaborate with private companies like KakaoPay…

Bank of Korea Governor Rhee Chang-yong has issued a cautionary note on the growing influence of stablecoins, warning that their widespread use could pose risks to the country’s banking system and foreign exchange stability. Speaking to local media, Rhee addressed the implications of introducing a Korean won-pegged stablecoin, emphasizing that such innovations, if not properly coordinated with financial regulators, could undermine the traditional banking sector. “Active use of stablecoins could shift payment and settlement functions from the banking sector to non-banking entities.” Rhee Chang-yong His remarks come at a time when the new South Korean president has expressed clear support…

Dara Khosrowshahi the Chief Executive Officer of Uber says the transport provider is considering the use of stablecoins to streamline international payments and reduce associated costs. These comments came during his interview at the Bloomberg Tech Summit in San Francisco. Khosrowshahi finds the blockchain-based digital assets, pegged to traditional fiat currencies such as the U.S. dollar, a “super interesting” potential solution for global businesses like Uber. He said, “We’re still in the study phase”. “But I think stablecoin is one of the more interesting instantiations of crypto that has a practical benefit beyond being a store of value.” He noted…

Tether has officially launched XAUt0, a gold-backed digital token on The Open Network (TON) blockchain.  The launch aims to bring the stability and appeal of gold ownership into the decentralized finance (DeFi) space, which is now directly accessible through Telegram’s native wallet, with a user base of over one billion. XAUt0 is a derivative of Tether Gold (XAUt), and offers users digital exposure to physical gold, combining the security of gold reserves with the convenience of blockchain technology.  The move highlights TON’s increasing momentum in the blockchain space. The platform continues to forge strategic partnerships with major players in crypto…

Tether’s CEO, Paolo Ardoino, said the company is not being allowed to join the Italian giant Juventus Football Club’s new fundraising plan. On June 2, Ardoino posted on X after many Juventus fans asked why Tether wasn’t helping the club buy new players and become stronger again. He explained that Juventus started a capital increase in April 2025, but didn’t give Tether permission to take part. That means even if Tether wants to invest money, they legally can’t. “Tether wants to help Juventus grow, but the club hasn’t let us join the fundraising that started a month ago (between €15–110…

Air Arabia, the MENA’s largest budget airline has become the first in the region to integrate cryptocurrency with flight bookings.  Announcing a strategic partnership with Al Maryah, the UAE’s first fully integrated digital bank, Air Arabia said they would be accepting  the AE Coin  stablecoin as payment.   The integration allows customers to select the AEC Wallet as a payment method when booking flights through Air Arabia’s official website. A noteworthy step in the adoption of digital financial technologies in the region’s aviation sector, the move also offers customers a secure and stable payment alternative.  Adel Al Ali, Group Chief Executive…