Obita has raised more than $10 million in an angel round to bolster its stablecoin-based cross-border payment capabilities. The fresh funding is earmarked for research, compliance, and expansion, aiming to accelerate the rollout of its digital financial services.

South Korea’s largest financial institutions are set to meet with the issuers of two major stablecoins, Tether and Circle, potentially as early as this week. Shinhan, Hana, KB Financial, and Woori Bank aim to explore possible partnerships that could shape the direction of digital finance in the region.

Circle’s stock soared following the Senate’s passage of a stablecoin bill, marking a significant moment for the digital currency company. The legislative development signals potential shifts in the cryptocurrency market landscape.

As U.S. policymakers push forward with stablecoin regulations, the biggest beneficiary might be the U.S. dollar itself. Legislation aimed at overseeing dollar-linked cryptocurrencies could fortify the greenback’s position in the digital economy.