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Project Overview
River is building a chain-abstracted stablecoin system, connecting assets, liquidity, and returns across multiple blockchains. Through its core stablecoin, satUSD, users can achieve returns, leverage, and scale across diverse ecosystems. River's key feature is its pioneering omni-CDP module, allowing users to collateralize assets on chain A and mint satUSD on chain B—all without requiring cross-chain asset bridging.
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Defense Minister: Impossible to Achieve Ceasefire in Lebanon as Israeli Forces Still Under Attack
Odaily News On the 27th local time, Israeli Defense Minister Katz met with UN Special Coordinator for Lebanon, Jeanine Hennis-Plasschaert, stating that it is impossible to achieve a ceasefire in Lebanon while Israeli forces are still under attack. He also warned Hezbollah leader Qassem, saying he is "playing with fire." He demanded the Lebanese government ensure that Hezbollah first disarms in the area south of the Litani River, and then across all of Lebanon. (CCTV) (Jin10 Data APP)
South Korea’s New Central Bank Governor Pledges to Advance CBDC and Deposit Tokens, Expresses Skepticism Toward Stablecoins
According to The Block, Shin Hyun-song, the newly appointed governor of the Bank of Korea, delivered his inaugural speech on April 21, pledging to advance the development of a central bank digital currency (CBDC) and deposit tokens. He also announced plans to expand related applications through Phase II of the “Han River Project” and participate in global initiatives such as Project Agora to strengthen the won’s position within the global payment system. Notably, Shin did not mention the won-pegged stablecoin in his speech, despite South Korean lawmakers actively advancing the “Digital Asset Basic Act” to establish a legal framework for stablecoins—the related discussions are expected to resume after the regional elections on June 3. During his prior tenure at the Bank for International Settlements (BIS), Shin held a negative view of stablecoins, arguing they cannot serve as a substitute for money. However, reports indicate his stance has since shifted, with Shin now stating that won-pegged stablecoins should coexist alongside CBDCs.
Visa Head of Crypto Business: Two US Banks Already Using USDC for Transactions on Solana
Odaily News: Cuy Sheffield, Visa's Head of Crypto Business, stated that two US banks, Lead Bank and Cross River, have already settled transactions using USDC on Solana. (SolanaFloor)
U.S. Senator Sends Letter to Musk Regarding X Money, Questions Stablecoin Plan and User Protections
According to Cointelegraph, U.S. Senator Elizabeth Warren sent a letter to Elon Musk requesting clarification on X platform’s planned payment feature, X Money—including its stablecoin and cryptocurrency integration strategy—and warning that it could pose risks to the financial system and U.S. national security. Warren specifically questioned whether X Money would issue its own stablecoin under exemptions provided by the GENIUS Act, and whether users would be adequately informed that their funds are not covered by FDIC deposit insurance. The letter also noted that X Money’s test preview indicates it may offer a 6% deposit interest rate and that it is partnering with Cross River Bank—a bank previously subject to FDIC enforcement actions.