Now in Crypto, the first regulated China Stablecoin launches while the global Stablecoin race is warming up, the growth of the Flora listed in the NASDAQ will be returned to Zerostack after raising $ 401 million to support 0G. Meanwhile.
The first regulated CNH-Pegged Stablecoin launches while global competition eats
The first stablecoin to be on the Chinese Yuan (CNH) Launched this weekAs a competition from the Sovereign governments to claim a piece of Stablecoin Market Mount.
Anchorx’s financial technology company debuted it at Axcnh Yuan-Pegged Stablecoin on Wednesday at the Belt and Road Summit in Hong Kong. The token is intended for international transactions and not for domestic use in the Chinese mainland.
BDACS, a Digital Asset infrastructure company, also launched an overcollateralized Korean won-pegged stablecoin on Thursday, called KRW1.
Developments came in the middle of a push from China to challenge the dominance of the US dollar in digital currency markets and to promote trade routes and maritime worldwide.
Cannabis firm Flora Growth launches $ 401M Treasury Backing Zero Gravity
Nasdaq listed in cannabis firm Flora Growth is Launched a $ 401 million Treasury initiative To I -back zero gravity (0G), a blockchain project dedicated to the power of AI’s decentralized infrastructure.
The move comes through a private placement deal that combines $ 35 million cash with $ 366 million with in-kind digital assets, especially the denominated in the 0G token. As part of the transaction, Flora will rebrand as Zerostack while maintaining the NASDAQ ticker, FLGC, according to an announcement on Friday.
Solana (Sol) The Treasury Company Defi Development Corp. (DFDV) is leading the deal, along with Hexstone Capital and Carlsberg SE Asia PTE LTD, with participation from companies including DAO5, abstract ventures and dispersion capital.
“We are pleased to partner with FLGC with this fundraise and look forward to driving a deep collaboration between 0G and Solana,” said DFDV CEO Joseph Onorati. The flora will also hold a portion of its treasury on the Sol tokens.
Changpeng Zhao’s Yzi Labs
The firm dedicated to the venture capital firm Yzi Labs has increased the stake in Ethena, the Stablecoin issuer behind the USDE, which will help adopt digital dollars throughout the decentralized and centralized platform.
The investment will help expand Etherna Usde (USDE) to the BNB chain while enables Ethhena to continue developing USDTB Stablecoin and an institutional settlement layer, Converge, Changpeng Zhao’s Yzi Labs Says In a statement on Friday.
The USDTB is supported by the short periods of Treasury’s properties, along with Blackrock’s Buidl, while Converge is an Ethereum virtual machine compatible with the chain dedicated to tokenizing real-world assets.
The move supports Yzi’s mission to “support open, measured digital dollar infrastructure that can serve as a backbone of efficiency and liquidity for the entire financial ecosystem.”
The CEO of the Etherna Labs Guy Young added: “The Holy Grail of the Digital Dollar Distribution has always been embedded firmly, assets that bring directly to the Core of the crypto economy. With the USDE now destroys exchanges, defi protocols, and global user bases, the vision becomes a reality.”
