Visa has partnered with crypto infrastructure company Aquanow to expand stablecoin settlement across the CEMEA region, cutting cross-border costs and friction. Visa is expanding its use of stablecoins for settlement in Central and Eastern Europe, the Middle East and Africa (CEMEA) through a new partnership with crypto infrastructure company Aquanow. In an announcement Thursday, Visa said it partnered with Aquanow “to settle transactions using approved stablecoins such as USDC, reducing costs, operational friction, and settlement times.” The company said the move came amid strong demand from banks and payment companies for faster, cheaper cross-border payments. The move aims to leverage stablecoins to digitize the back end of money movement and to enable 24/7 settlement. Godfrey Sullivan, Visa’s head of product and solutions for the CEMEA region, said the integration will allow institutions in the region “to experience faster and simpler settlements.” Read more
Bitcoin bounced to $106,000 as traders bet on higher chances of Fed interest rate cuts due to tensions in the Middle East. Key takeaways: Bitcoin swiftly rebounded to $106,000, signaling firm institutional investor demand despite growing global unrest. A sharp 8% drop in Bitcoin’s hashrate raised concerns over mining stability amid Middle East tensions. Read more
ISLAMABAD: Prime Minister Shehbaz Sharif held urgent telephone discussions with the ambassadors of Qatar and Saudi Arabia, reiterating Pakistan’s commitment to regional peace and stability, ARY News reported. During his call with Qatar’s Ambassador Ali Mubarak Ali Essa Al-Khater, PM Shehbaz expressed deep concern over the recent Iranian missile strike on a US military base […]
June 22: U.S. forces have struck Iran’s key nuclear sites, drawing threats from Tehran to retaliate, with U.S. military installations in the region a potential target. Following are significant U.S. military bases or facilities in the Middle East: BAHRAIN: Home to the headquarters of the U.S. Navy’s Fifth Fleet, whose area of responsibility includes the […]