Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, major banks including Bank of America, Goldman Sachs, Deutsche Bank and Citi are entering the stablecoin race. Prediction platform Kalshi secured $300 million for a global expansion, while Democratic senators faced backlash over a proposed DeFi restriction list.
A group of banks is in the process of exploring the launch of stablecoins focused on some of the world’s biggest fiat currencies, including the US dollar, euro and Japanese yen.
According to a Friday statement from BNP Paribas, banks including Bank of America, Goldman Sachs, Deutsche Bank and Citi said that they had launched a project to explore the “issuance of a 1:1 reserve-backed form of digital money that provides a stable payment asset available on public blockchains” linked to currencies from the Group of Seven (G7) countries: the United States, Canada, the United Kingdom, France, Germany, Italy and Japan.
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