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Naver Financial will launch the Busan Local Stablecoin Wallet and is also preparing to merge with Upbit

3 hours ago

On November 25th, as per The Block, South Korean tech behemoth Naver's financial arm, Naver Financial, has accomplished the development of a stablecoin wallet. It is currently in the final verification stage and is scheduled to be launched next month. This wallet project was developed in collaboration with the venture capital firm Hashed and the Busan Digital Asset Exchange (BDAN). It will support the stablecoinization of Busan's local currency "Dongbaek-jeon", enabling residents and visitors to exchange various fiat currencies for the stablecoin form of the local currency. The service will be incorporated into Naver Pay Wallet. However, full functionality will have to await the establishment of a local currency stablecoin regulatory framework in South Korea. Meanwhile, Naver is planning to merge with the parent company of South Korea's largest cryptocurrency exchange Upbit, Dunamu, through a share swap. Dunamu plans to be listed on Nasdaq as a wholly-owned subsidiary of Naver after the merger.
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US Retail Sales for September showed a month-over-month growth of 0.2%, below the expected 0.4% and the previous value of 0.6%.

On November 25th, in the U.S., Retail Sales Month-on-Month in September was 0.2%. The expected value was 0.4%, and the previous value was 0.6%.

2 minutes ago

U.S. Treasury Secretary: It's Time for the Federal Reserve to Take a Back Seat, Federal Reserve Board Members Seem Inclined to Cut Interest Rates

November 25th: U.S. Treasury Secretary Yellen declared that the "abundant reserve regime" of the Federal Reserve might be eroding slightly. It is necessary to simplify measures as the Fed has an excessive number of tools. There is concern about the rising cost of living, but the Fed's policy needs to focus on the future. It is time for the Fed to step back. Fed officials seem to be inclined to cut interest rates.

2 minutes ago

Federal Reserve Governor Milan: Current Economic Situation Requires Significant Rate Cut

On November 25th: Federal Reserve Governor Milan expressed that he anticipates that the employment data will be able to persuade others at the Fed to back rate cuts. This indicates that the increase in the unemployment rate is attributed to monetary policy being overly tight. He does not think there is a problem with inflation; although he is concerned about the rising cost of living. He emphasized that the Fed's policy needs to focus on the future. He also holds the view that the Fed should soon reach the neutral interest rate. However, some analysts pointed out that since Milan was appointed with Trump's (rate-cutting) intentions in mind, his continuous calls for significant rate cuts are not unexpected. The market naturally disregarded his comments, so his remarks have had little practical impact. (FXStreet)

2 minutes ago

U.S. Treasury Secretary: The likelihood of Trump announcing the new Federal Reserve Chair before Christmas is very high

On November 25th, US Treasury Secretary Yellen declared that concerning the selection of the new Federal Reserve Chair, the second round of final interviews will be conducted today, and currently, there are five prominent candidates. President Trump is likely to make the announcement of the new Federal Reserve Chair prior to Christmas (December 25th). (Xinhua News)

2 minutes ago

Payment giant Klarna will launch its stablecoin on the Tempo blockchain next year

On November 25th, the Swedish payment giant Klarna is scheduled to launch its stablecoin on the Tempo blockchain, which is supported by Paradigm and Stripe, in 2026.

2 minutes ago

Publicly Listed Company Value Creation Acquires 7.057 BTC, Valued at Approximately 100 Million Yen

On November 25th, Value Creation, a real estate and digital transformation company listed on the Tokyo Stock Exchange in Japan, recently announced in a post that it has utilized surplus funds to purchase 7.057 bitcoins at an average price of 14.17 million yen per BTC. The total amount is approximately 100 million yen (about 670,000 USD).

2 minutes ago

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