The product moves USDC and peso-pegged MXNB into noncustodial lending vaults, with variable returns and no deposit insurance.
This is the summary The Defiant publishes in its feed. The full article lives on their site.
Ottawa opened a 60-day consultation on draft rules requiring one-to-one reserves and fast redemption from stablecoin issuers, while keeping the ban on paying holders interest.
The change removes an estimated two percentage points of issuance-funded staking APR and freezes about 51.9 million pre-minted developer tokens.
Prop 346 would authorize a one-way AKT token conversion, while staking rewards would end at a later marketplace cutover requiring another vote.
The announcement followed the banking regulator finalizing its rules for the GENIUS Act, a stablecoin law to be implemented in January
Link says funded balances are held in USDC, while Tempo founder Matt Huang says stablecoins on its blockchain power the feature.
As part of the potential implementation of its Stablecoin Act, the Canadian government will hear from the public on a proposed framework for tokens from non-financial institutions.
