KB Card of South Korea partners with Avalanche to develop a hybrid stablecoin credit card payment system
PANews reported on March 31 that, according to The Block, South Korean major credit card company KB Kookmin Card announced a partnership with Avalanche to develop a hybrid stablecoin payment model. This model, designed to be built on a public blockchain, allows users to link their digital wallets to their existing credit cards. When making a payment, the system will prioritize using the stablecoin balance in the wallet, with any remaining amount paid via the credit card. KB Card is also collaborating with digital asset infrastructure company OpenAsset to develop a complete stablecoin system covering deposits, payments, and settlements. This move aims to lower the barrier to entry for stablecoins by retaining the familiar credit card experience and aligns with South Korea's regulatory direction towards establishing a stablecoin market pegged to the Korean won.
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Federal Reserve expected to slash rates today, here's how it may impact crypto
Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday. The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction. “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more
