"Visa taps Aquanow to expand stablecoin settlement " Nov 29, 2025

Today's blockchain and cryptocurrency news China's central bank reaffirms crypto ban, flags stablecoin risks following multi-agency meeting. Visa taps Aquanow to expand stablecoin settlement in key markets###Gemini Card Disclosure: The Gemini Credit Card is issued by WebBank. In order to qualify for the $200 crypto intro onus, you must spend $3,000 in your first 90 days. Terms Apply. Some exclusions apply to instant rewards in which rewards are deposited when the transaction posts. This content is not investment advice and trading crypto involves risk. For more details on rates, fees, and other cost information, see Rates & Fees. The Gemini Credit Card may not be used to make gambling-related purchases. ### For 40% off your order, head to Udacity.com/DCR and use code DCR. Learn more about your ad choices. Visit megaphone.fm/adchoices

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  It's 8 a.m. Eastern, November 29th, and this is your daily crypto report. Bitcoin is up slightly at $90,618. ETH is up slightly at $2,975. XRP is up slightly at $2.22.

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  China's central bank, the People's Bank of China, has reaffirmed its crypto ban and flagged stablecoins as a risk to financial stability following a multi-agency meeting in Beijing. In a public statement, the PBOC said digital assets lack legal tender status and cannot be used as currency. It warned of strict crackdowns on illegal crypto activity and called out stablecoins specifically for failing to meet anti-money laundering and know-your-customer standards. The statement follows a resurgence of digital asset speculation in China despite the 2021 ban on crypto trading and mining. The PBOC credited the original crackdown with rectifying chaos in the virtual currency market. While Hong Kong has pursued a regulatory framework for exchanges and stablecoin issuers, Beijing recently took a firmer stance.

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  Authorities reportedly ordered some Hong Kong brokerages to pause tokenization projects in September and blocked stablecoin issuance attempts by Chinese tech companies in October. Separately, over 225 million personal wallets have been opened under China's digital yuan pilot. And finally, Visa has partnered with crypto infrastructure provider AquaNow to expand its stablecoin settlement capabilities across Central and Eastern Europe, the Middle East, and Africa. Cemia, the integration, will allow Visa issuers and acquirers in the region to settle transactions using approved stablecoins like USDC with 365-day availability, bypassing weekend and holiday delays common in traditional banking. The expansion comes as Visa's stablecoin settlement volume reaches a $2.5 billion annualized run rate.

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  The company first piloted USDC settlement in 2023 and plans to add support for four stablecoins across four blockchains, according to CEO Ryan Mac. Akwinow brings regional experience, having previously partnered with Standard Chartered-backed Zodiac Custody and secured a VASP license from Dubai's Virtual Asset Regulatory Authority in early 2024. Visa says the partnership aims to modernize backend payment infrastructure, reduce dependency on legacy rails, and improve institutional readiness for digital finance. That's all for us today. Visit us at dailycryptoreport.io and listen to us everywhere else you podcast under Daily Crypto Report.

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