Scandinavian Tobacco Group Sells BREAK and Moro Brands to Japan Tobacco for €176 Million 
Bank of America Says These Overlooked AI Stocks Could Be the Next Winners 
OpenAI Australia Data Center Switches Cooling Strategy After Recycled Water Plan Fails 
Elon Musk Fuels SpaceX-Tesla Merger Speculation After Earnings Call 
Belimo H1 Sales Surge as AI Data Center Cooling Drives More Than Half of Growth 
US, China to Hold AI Talks Ahead of Xi’s September Visit 
Macquarie Names Greg Ward as CEO, Signaling Stability and Strategic Continuity 
SpaceX Q2 Earnings on Aug. 4 Set Stage for Historic Insider Share Unlock 
Super Micro Computer Stock Jumps 20% After Record AI Orders and Margin Surge 
Morgan Stanley Downgrades Adobe, Workday as AI Transition Raises Growth Concerns 
Alphabet Q2 Earnings Beat Estimates as AI Spending, Google Cloud Growth Fuel Outlook 
Australia ASIC Tightens Auditor Oversight After KPMG Leak Scandal 
Revolut is launching its own stablecoin and entering a market led by PayPal, Ripple, and BitGo. With global stablecoin premiums expected to reach $5 billion this year, Revolut's compliance-first approach positions it as a formidable new player in the burgeoning digital currency arena.
Revolut Expands into Stablecoin Market
Revolut, which was valued at $45 billion earlier this year and received a UK banking license in July, is making great strides in developing its own stablecoin.
As stated by an official from Revolut:
“We are looking to expand our cryptocurrency offering but as a licensed financial institution, we take a compliance-first approach. Our goal is to make Revolut a trusted and secure platform for the entire crypto community.”
Stablecoin Premiums Surge in 17 Nations
A new research by the Centre for Economics and Business Research and BVNK indicated that in 17 nations, buyers and sellers alike are paying an average of 5% more than the typical US dollar rate for stablecoins.
The premium could reach 30% in certain nations, such as Argentina. There appears to be a growing demand for stablecoins since these countries are projected to pay premiums totaling over $5 billion this year and up to $25 billion by 2027.
Still, there are some who feel strongly about stablecoins. More than 80% of payments transferred to sanctioned entities were made in the tokens, and roughly 75% of all crypto scam transactions last year utilized stablecoins, according to Chainalysis.
BRICS Group Could Challenge Tether and US Dollar
Coingape states, however, that new reports suggest Tether (USDT) could be the BRICS Group's greatest challenge as it seeks to challenge the dominance of the US dollar.
One of the most important uses of cryptocurrency is stablecoins, which are essentially digital currencies tied to the US dollar. This finding is based on a recent YouGov survey that Visa and other partners commissioned, which surveyed 500 cryptocurrency users in five developing regions.
Among those who took the survey, nearly half (47%) said they used stablecoins primarily to buy US dollars. Nearly half (43%) said they used them to make cross-border payments, again likely using US dollars.
