Foblgate adds Bithumb Burrito Wallet as newest registrable external wallet

China has inaugurated a new center in Shanghai dedicated to the international operation of its central bank digital currency (CBDC), the e-CNY, the People's Bank of China (PBOC) recently announced. The hub also launched three specialized platforms for cross-border digital payments, blockchain services, and digital assets, according to state-run Xinhua News Agency. The initiative is a key part of China's strategy to promote the digital yuan's adoption beyond its domestic borders. This effort aligns with a broader trend among BRICS nations, which have increased their use of the Chinese yuan for trade settlements. A Crypto Briefing report indicates that yuan-denominated payments accounted for roughly 24% of the bloc's trade transactions in early 2025.Photo by Edward He on UnsplashDifference between digital yuan and stablecoinsThe e-CNY, which functions without needing a bank account, is designed for daily uses like retail shopping, salary distribution, and transportation fares. While it cannot be converted into foreign currencies, its cross-border capabilities are being explored through the mBridge project, a multinational effort coordinated by the Bank for International Settlements. In contrast to the state-controlled e-CNY, privately issued stablecoins, blockchain-based tokens pegged to fiat currencies like the U.S. dollar, are also gaining traction. These digital assets, backed by reserves such as U.S. Treasury bills, are widely used for faster and cheaper cross-border payments and remittances. Hong Kong established a clear regulatory framework for stablecoins on Aug. 1, setting high standards for potential issuers. However, the Hong Kong Monetary Authority (HKMA) has stated that it does not expect to grant the first licenses until early next year. Yuan stablecoin in KazakhstanRecently, the HKMA had to clarify the status of stablecoin issuance in the region. According to the South China Morning Post, the monetary authority issued a statement refuting social media reports that the first offshore yuan-pegged stablecoin had been launched in Hong Kong. The company involved, AnchorX, later clarified on X that its yuan-pegged digital asset, AxCNH, was launched in Kazakhstan under a license from the Astana Financial Services Authority (AFSA). Despite its launch outside of Hong Kong, the AxCNH stablecoin is seen by some as part of Beijing's broader ambitions. Yang Guang, the CTO of Conflux, which provides technical expertise to AnchorX, told Reuters that the Sept. 17 launch represents an effort to leverage blockchain technology for international trade. Yang suggested that Beijing would likely support such initiatives if they facilitate commerce, noting that offshore yuan stablecoins could be issued without direct sign-off from China's central bank. Market analysts view China’s latest initiatives as part of a broader, multi-pronged strategy. Augustine Fan, head of insights at digital asset platform SignalPlus, described the stablecoin project as “another venue or trial to push the use of the offshore yuan,” adding that it also reflects the government’s cautiously positive stance toward blockchain technology. China’s stablecoin ambiguityAt the policy level, signals remain mixed. A Caixin report indicated that Chinese digital platforms, state-owned enterprises (SOEs), and financial institutions in Hong Kong may face restrictions on stablecoin and broader crypto activity. In addition, branches of SOEs and major banks are unlikely to seek stablecoin licenses in the region. The English version of the Caixin article remains accessible, but Cointelegraph observed that the Chinese-language version has since been taken down.At the same time, official engagement is visible. The National Natural Science Foundation of China (NSFC), a vice-ministerial institution under the Ministry of Science and Technology that oversees the National Natural Science Fund, earlier announced grants for research on stablecoins and the development of cross-border monitoring frameworks. According to the South China Morning Post, the foundation launched the study in response to concerns that unregulated circulation of private stablecoins, particularly those pegged to the U.S. dollar, could weaken capital controls and pose risks to the yuan. A clearer policy direction is expected once the results of this research are available.

Rotonda Launches iOS Version of Web3 Bithumb Burrito WalletRotonda, a subsidiary of Korean crypto exchange Bithumb, said Monday that it has officially released the iOS version of its Web3 digital wallet, Bithumb Burrito Wallet. This comes as part of the company’s efforts to make the app available for Web3 users on all operating systems.Photo by Shubham’s Web3 on UnsplashBoosted accessibilityRotonda has recently expanded the number of mainnets supported on the wallet to a total of 11 in order to enhance the accessibility of the service as well. Plans are underway to continuously improve features and build a user-friendly experience and interface.“By expanding our iOS-based services, we expect more users to be able to experience the new Web3 ecosystem,” the company said. “We will continuously enhance necessary features on Burrito Wallet for our users and strengthen competitiveness as a global service.”Collaborative eventThe company is also holding a two-part promotional event to mark the latest release in collaboration with ROACORE, an art tech platform created by ROALAND Foundation that allows non-fungible token (NFT) trading and NFT-based service experiences for artists and consumers. Users of the platform can participate in various Web3 experiences such as content consumption and offline events by using the native token ROA CORE (ROA).For the first part of the promotion, the first 10,000 users who sign up for Burrito Wallet and add the ROA token will receive 10 ROA tokens.The second part is a Learn-To-Earn (L2E) activity aimed at introducing ROACORE to users in a more engaging manner. Both new and existing wallet users can partake in a quiz after learning about ROACORE on the app. Four ROA tokens will be given to the first 5,000 participants.This promotional event will run from now until September 3. All reward tokens will be airdropped to winners, Rotonda said.Upcoming eventsRotonda is also set to co-host Next Block 2023 — a conference for exploring new business collaboration opportunities in building a new ecosystem for Web3 projects — with Bithumb META, Bithumb’s metaverse subsidiary on September 4.

It’s proving to be a significant week for the further development of stablecoins in the United Arab Emirates (UAE) with leading U.S. dollar-backed stablecoin issuer Circle achieving in-principle licensing approval in Abu Dhabi, while a group of Abu Dhabi-based institutions have announced plans to launch a UAE dirham-pegged stablecoin.Photo by Yan Ma on UnsplashRegulatory licensingIn a press release published on April 29 Circle outlined that it had received in-principle approval to operate as a money services provider from the Financial Services Regulatory Authority (FSRA), the regulator for projects operating out of the Abu Dhabi Global Market (ADGM). ADGM is a free zone located within the UAE capital that has established its own regulatory framework for virtual asset-based businesses. The in-principle licensing award puts the company on a firm path towards the acquisition of a full Financial Services Permission (FSP) license. Circle Co-Founder Jeremy Allaire said that this in-principle licensing “advances our strategy to establish deep roots in markets embracing the onchain economy, creating new pathways for investment and innovation in the region.” On X, Ian Ballina, founder and CEO of Token Metrics, said that the licensing milestone signaled more global momentum for crypto adoption. Ballina pointed out that Circle’s USDC stablecoin is gaining traction as a result of the company’s strategy of partnering with local tech innovators. In addition, Circle announced a collaboration with Hub71, an Abu Dhabi-based global tech ecosystem. The objective of the partnership is to strengthen innovation within the digital assets space, with Circle joining Hub71’s digital assets ecosystem to offer expertise to a community of more than 500 tech startups and venture capital firms. Dirham stablecoin launchIn a separate development, ADQ, an Abu Dhabi-headquartered sovereign wealth fund, announced that it had joined with local partners to launch a UAE dirham-pegged stablecoin.  In its efforts to launch the stablecoin, ADQ has partnered with First Abu Dhabi Bank (FAB), the UAE’s largest bank, and conglomerate International Holding Company (IHC). The trio envisage that the stablecoin will be regulated by the UAE’s central bank and will be used “by citizens and consumers, businesses and institutions.” Once regulatory approval has been granted, the stablecoin will be hosted on the ADI blockchain, a network which was established by the Abu Dhabi-based non-profit ADI Foundation. ADQ CEO H.E. Mohamed Hassan Alsuwaidi described the launch of the stablecoin as “a pivotal step in our commitment to strengthening the UAE’s digital infrastructure ecosystem.” He added that the stablecoin will provide a secure, efficient and scalable solution for market participants as the UAE progresses towards an increasingly digital and connected economy. FAB CEO Hana Al Rostamani suggested that the new stablecoin would make a significant impact, with the potential to “revolutionize the use of trusted blockchain payments for UAE consumers and businesses.” Last December, the FSRA approved leading U.S. dollar stablecoin Tether (USDT) as an accepted virtual asset (AVA). Some weeks prior to that approval, Tether outlined that it planned to launch a dirham-backed stablecoin in collaboration with local partners. In October the country’s central bank issued in-principle approval to the promoters of another dirham-backed stablecoin, AE Coin.