On June 3, CoinDesk reported that Mastercard is expanding its settlement network to support regulated stablecoins, planning to offer stablecoin settlement, intraday settlement, and weekend and holiday settlement services to meet the demand for real-time fund flow. The new framework will operate in parallel with existing fiat settlement processes, aiming to provide financial institutions with more flexible liquidity management. Mastercard will initially support Circle's USDC, Paxos-issued PYUSD, USDG and USDP, Ripple's RLUSD, and SoFiUSD, covering blockchain networks such as Ethereum, Solana, Polygon, Base, Arbitrum, and XRPL. Financial institutions such as Cross River, Lead Bank, CBW Bank, ARQ, and Nuvei will be among the first participants.
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Mastercard Expands On-Chain Settlement, Bets on Stablecoins and 24/7 Finance
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Ministry of Foreign Affairs: Resumption of Hostilities Does Not Serve Any Party's Interests
On June 3, during a regular press conference, the Ministry of Foreign Affairs addressed questions regarding the current situation between the U.S. and Iran. Spokesperson Mao Ning expressed China's deep concern over the current situation, stating that the resumption of hostilities does not serve the interests of any party. She urged all relevant parties to cherish the opportunity for peace and to achieve a comprehensive and lasting ceasefire as soon as possible. (CCTV News) -
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IRGC Claims Attack on U.S. Fifth Fleet Headquarters
On June 3, it was reported that the Islamic Revolutionary Guard Corps (IRGC) of Iran claimed that the U.S. Fifth Fleet headquarters was attacked by missiles and drones from the IRGC Aerospace Force. (CCTV News) -
US Military Conducts 'Defensive' Strikes on Iran's Qeshm Island as Iran Launches Missiles
On June 3, the US Central Command reported that on June 2, US forces successfully repelled multiple ballistic missiles and drones launched by Iran and conducted 'defensive strikes' on Qeshm Island in response to Iran's attempts to launch attacks across the Middle East. Iran fired several ballistic missiles towards its neighboring countries; however, none of the missiles hit their intended targets. Two Iranian missiles aimed at Kuwait failed to reach the target area, possibly disintegrating during flight, while three missiles aimed at Bahrain were intercepted immediately by US and Bahraini air defense forces. Earlier, US Central Command forces shot down three one-way attack drones launched by Iran, which were heading towards civilian vessels navigating in the region's waters. The US military also conducted defensive strikes on an Iranian military ground control station located on Qeshm Island. No US personnel were injured. US Central Command forces will remain on high alert and are prepared to counter any unwarranted acts of aggression by Iran during the current ceasefire period. -
Walsh Commits to Upholding Federal Reserve Traditions While Seeking Change
On June 3, Federal Reserve Chairman Walsh delivered an inaugural address to over 20,000 employees as he began his four-year term, promising to adhere to the "excellent traditions of the Federal Reserve" while also indicating a comprehensive review of areas for improvement. This memorandum provides an initial insight into Walsh's direction: he aims to advance what he calls a comprehensive reform agenda, believing that the Federal Reserve has strayed from its mission; he is also working to mend relationships with colleagues and staff he has previously criticized. In the memo sent out on Tuesday, Walsh stated: "Our top priority is to formulate the right policies to fulfill our responsibilities and serve the national interest. We will ensure an environment that supports employees in realizing their best talents." "If better alternatives are found, we will not be bound by past practices," Walsh remarked, adding, "In the coming quarters, I look forward to engaging in open and pragmatic discussions about the Federal Reserve's strategies, policies, and operations." Additionally, according to a source familiar with the new chairman's initial personnel appointments, Walsh has appointed two conservative analysts to provide advice during his transition from former chairman and current governor Powell. These appointments are reportedly temporary contract positions aimed at assisting Walsh in planning his initial priorities after taking office. (Sina Finance) -
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