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BCB Strikes Deal with SocGen–FORGE to Distribute Euro-Pegged Stablecoin EURCV

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BCB Markets, the trading arm of crypto payments firm BCB Group, has inked an agreement with Societe Generale–FORGE to distribute EURCoinVertible (EURCV), a euro-linked stablecoin developed by the French banking giant’s digital asset subsidiary, the company said in a press release on Tuesday.

The move marks another step toward broader adoption of fiat-linked digital assets, as institutions look for stablecoin alternatives beyond the U.S. dollar.

Launched in April 2023, EURCV is among the first stablecoins to comply with the European Union’s Markets in Crypto Assets (MiCA) framework, which came into effect this year, BCB said.

Backed by cash reserves and pegged to the euro, EURCV is intended for institutional use and aims to bring stability and regulatory clarity to the stablecoin space in Europe.

“The stablecoin market is dominated by dollar-pegged coins, which is useful for many, but we believe the euro deserves a native, regulated digital representation,” said Jerome Prigent, managing director of BCB Europe, in the release.

BCB said the partnership would allow its clients, ranging from crypto-native firms to traditional financial institutions, to leverage EURCV for faster and cheaper transactions, particularly in cross-border payments.

Prigent noted that the appeal of euro-denominated stablecoins could stretch beyond the continent, as businesses in emerging markets across the Middle East, Africa and Latin America are actively exploring alternatives to U.S. dollar-linked tokens for remittances and trade.

Euro-denominated stablecoins can reduce the cost of cross-border money transfers by as much as 80%, without the need to route payments through the dollar, Prigent added.

“The collaboration with BCB Markets supports the EURCV stablecoin expansion as an effective means of payment across various geographies and use cases,” Jean-Marc Stenger, CEO of Societe Generale–FORGE, said in the release.

The announcement comes as regulated stablecoins gain momentum in Europe under MiCA, which sets new standards for transparency, reserve management, and licensing for issuers.

Read more: ‘Like Spitting on a Fire’: Tether CEO Slams EU Deposit Protections Amid Bank Failure Warnings

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Bitcoin Pushes Toward $107K Even as Trump Sends National Guard to Los Angeles

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Bitcoin (BTC) BTC maintained a steady climb Saturday as U.S. domestic tensions intensified.

Markets remained focused on crypto resilience despite unsettling headlines, including an immigration-related standoff in Los Angeles.

According to a report by CNBC, over 100 arrests have been reported as clashes continued between protesters and federal agents, prompting President Trump to authorize the deployment of 2,000 National Guard troops. By Sunday morning, elements of the 79th Infantry Brigade had arrived on-site, according to Northern Command.

Further escalation came with Defense Secretary Pete Hegseth warning that U.S. Marines at Camp Pendleton could also be mobilized if violence persists. Still, Bitcoin’s stability at $106,332 suggests crypto investors remain unfazed, treating the unrest as a regional event rather than a market-moving crisis.

Bitcoin traded within a narrow $1,057 range, from $105,043 to $106,101, and is currently hovering at $106,332. The price action showed a strong rebound after briefly dipping below $105,100, as buying interest re-emerged around the $105,400 support level, according to CoinDesk Research’s technical analysis model.

An early breakout attempt above $106,100 ran into selling pressure, creating a high-volume resistance zone. That move was short-lived as profit-taking set in, though the coin held onto its gains. The consolidation structure remains bullish, with the pattern of higher lows hinting at a potential push toward $107,000 if resistance breaks cleanly.

Despite broader macro headwinds, BTC continues to attract buyers during dips, underscoring its role as a perceived hedge amid rising uncertainty.

Technical Analysis Highlights

  • BTC traded within a $1,288 range (1.22%) between a low of $105,043.65 and a 24-hour high of $106,332.
  • Resistance around $105,900–$106,100 was broken as price surged beyond this zone with strong volume during the early afternoon.
  • Support at $105,400 held firm through several retests, reinforcing bullish sentiment.
  • A breakout to $106,332 occurred around 13:48, followed by minor profit-taking and stabilization above $106,000.
  • The hourly chart shows an ascending trend with consistent higher lows, invalidating the earlier «pump and dump» interpretation.
  • With momentum intact, BTC may test the $107,000 resistance level if current support near $105,800 holds.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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Bitcoin Holds Above $105K Despite Donald Trump’s Threats Against Elon Musk

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Bitcoin BTC held firm above $105,000 on Saturday despite an unusually combative and personal escalation in the Trump-Musk feud that could rattle traditional markets next week.

On Saturday, in a phone interview with NBC News, President Trump warned that there would be “serious consequences” if Elon Musk financially backed Democratic candidates running against Republicans who support the GOP’s budget bill. “If he does, he’ll have to pay the consequences for that,” Trump said, adding later, “He’ll have to pay very serious consequences if he does that.”

Trump, who has often boasted of past support from Musk, firmly dismissed the idea of mending ties. “No,” he said when asked whether he wished to repair the relationship. “I would assume so, yeah,” he added when asked if the rift was permanent.

Despite the intensifying feud between two of the most influential figures in U.S. politics and technology, Bitcoin remained unfazed. The cryptocurrency held onto earlier gains and continues to trade near weekly highs. The market’s composure suggests that traders may increasingly view BTC as a hedge against institutional dysfunction, or at least as an asset insulated from the partisan fallout that tends to impact equities more directly.

Technical Analysis Highlights

  • BTC traded in a 24-hour range of $1,162 (1.13%), from a low of $104,624 to a high of $105,786, according to CoinDesk Research’s technical analysis model.
  • Strong support formed at $104,800, where above-average volume confirmed buyer interest.
  • Resistance at $105,200 was broken and has since flipped into a short-term support zone.
  • Volume peaked at 378 BTC during key breakout moments, especially around 13:43–13:46 and 13:53.
  • A short consolidation occurred between $104,300–$104,600 before the final surge to near highs.
  • An ascending price channel remains intact, showing bullish structure despite intermittent pullbacks.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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Ether Holds Steady Above $2,500 as ETF Demand Signals Institutional Confidence

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Ether ETH has rebounded firmly from key support near $2,460, recovering losses and stabilizing above the $2,500 threshold amid broader market volatility.

The rally follows a higher low formation backed by above-average volume, signaling growing market confidence.

Institutional participation appears to be reinforcing the trend, with BlackRock’s ETHA ETF reporting $492 million in net inflows last week.

Total holdings now exceed $4.84 billion, reinforcing long-term bullish sentiment even as price action remains sensitive to geopolitical developments.

Traders are watching to see if ETH can challenge resistance in the $2,520–$2,530 range.

Technical Analysis Highlights

  • ETH traded within a $72 range over 24 hours, from a low of $2,460.35 to a high of $2,532.41.
  • A key support zone formed at $2,460–$2,470, where ETH bounced on strong volume during midnight hours.
  • Final hour surge reached $2,515.11, backed by 5,919 ETH in volume.
  • Higher low structure established with interim support at $2,485 and resistance at $2,503.
  • Final retracement held support at $2,507, with price consolidating around $2,510 into the close.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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