News

ChainCatcher news, according to Reuters, the European Central Bank opposed a proposal to promote more euro stablecoins at the EU finance ministers' meeting, arguing that relaxing liquidity requirements for stablecoin issuers or even granting them access to ECB financing could undermine the stability of bank deposits, restrain bank lending, and make interest rate control more challenging. The proposal was put forward by Bruegel in a conference document, aiming to expand the market currently dominated by USD stablecoins. ECB President Christine Lagarde has also expressed a cautious stance on euro stablecoins and prefers the tokenization of commercial bank deposits. The report also states that the EU is reviewing the MiCA, which came into effect in 2024, while the United States will pass the more lenient GENIUS Act in 2025.

According to Golden Ten Data on May 23, citing an internal document reported by Reuters, 27 countries have initiated domestic crisis response mechanisms in order to apply for funding from the World Bank to address the global economic impact caused by the Iran conflict. The World Bank document does not specify the names of the countries or the total potential funding requested, but officials from Kenya and Iraq have confirmed they are seeking rapid financial support from the World Bank to cope with the effects of the conflict, such as surging fuel prices and a sharp decline in oil revenues.

Golden Ten Data reported on May 23 that the Shanghai Shipping Exchange released its weekly report on China's export container shipping market for the week of May 23. The report shows that overall, China's export container shipping market remained stable with a positive trend this week, as freight rates on long-distance routes continued to rise, driving the composite index higher. Currently, the geopolitical situation in the Middle East remains stable, and the volatility of related route shipping markets is also stabilizing. On May 22, the Shanghai Export Containerized Freight Index stood at 2,218.15 points, an increase of 3.6% from the previous period. On the Persian Gulf route, the geopolitical situation in the Middle East remained relatively stable, and spot market freight rates rose slightly this week. On May 22, the freight rate (ocean freight and surcharges) from Shanghai Port to major basic ports in the Persian Gulf was $4,306 per TEU, up 4.2% from the previous period.