Curve DAO has approved a proposal to establish a credit line of up to 60 million crvUSD for Yield Basis.

PANews reported on September 24 that according to Fortune magazine, the stablecoin startup Bastion completed a new round of financing of US$14.6 million led by Coinbase Ventures. Other investors in this round included the venture capital arm of Japanese technology giant Sony, the venture capital arm of South Korean mobile phone manufacturer Samsung, the cryptocurrency arm of venture capital firm Andreessen Horowitz (a16z), and cryptocurrency venture capital firm Hashed. Bastion is a white-label stablecoin issuer. Instead of hiring lawyers to obtain regulatory approvals or software developers to write code, companies can hire Bastion to more easily launch their own stablecoins. Bastion's differentiated advantage lies in its comprehensive stablecoin service offering, including a cryptocurrency wallet for clients to hold their tokens and channels for converting stablecoins into cash in 70 countries, including the United States.

The Federal Reserve has made the decision to lower interest rates by 25 basis points, signaling the possibility of further reductions later this year. This move comes as Fed officials appear divided on the future rate path, a divergence not seen in prior economic cycles.Continue Reading:Federal Reserve Lowers Interest Rates Again

PANews reported on September 24th that Chainlink has integrated with the institutional-grade blockchain platform Canton Network, aiming to significantly promote the widespread adoption of blockchain technology within the institutional sector. This partnership brings Chainlink's data services, including data streaming, smart data (covering Proof of Reserves and NAVLink), and the Cross-Chain Interoperability Protocol (CCIP), to the Canton Network. Furthermore, the Canton Network has joined the Chainlink Scale program, which helps cover the operating costs of its oracle. Under the agreement, Chainlink Labs will become a "super validator" for the Canton Network.