Utility tokens are evolving from hype to substance, as MBG by MultiBank Group leads a new wave of regulation-first, infrastructure-backed crypto tied to real-world finance. #partnercontent

A look into the growing role of real-world assets and tokenization in web3 finance

Guatemala&#8217;s largest bank, Banco Industrial, has integrated crypto 
infrastructure provider SukuPay into its mobile banking app, allowing locals 
to more easily receive remittances powered by blockchain technology.
SukuPay&#8217;s infrastructure has been fully embedded inside the Zigi payment app, 
allowing Guatemalans to receive funds from the United States instantly for a 
$0.99 flat fee, the company disclosed on May 21.
Users of the Zigi app do not need a crypto wallet or an International Bank 
Account Number (IBAN) to receive the funds, the company said.
SukuPay CEO Yonathan Lapchik told Cointelegraph that the &#8220;key to mainstream 
adoption of blockchain technology is making it invisible to the end-user&#8221; so 
that there are no technical barriers.
&#8220;That&#8217;s the only way we&#8217;ll scale blockchain to billions of people &#8212; by 
building the rails, not forcing people to learn how they work,&#8221; said Lapchik.
Established in 1968, Banco Industrial has more than 1,600 service locations 
throughout Guatemala. As of 2023, it had over 150 million Guatemalan quetzals 
in assets, equivalent to roughly $20 million US. SukuPay said its integration 
with Zigi marks one of the first crypto-native protocols to be used inside a 
major Latin American retail bank.
_Banco Industrial has a long-term issuer default rating of BB. Source:__Fitch 
Ratings_
The bank also has operations in Honduras, Panama and El Salvador and is a key 
player in local remittance markets.
_**Related:**__**Bitcoin treasury adoption grows in LATAM, mirroring US 
strategic BTC reserve plan**_
## Remittances are lifelines for Latin America
Remittances, or money sent by migrants to their home countries, play a vital 
role in Guatemala and the broader region.
The Inter-American Development Bank projected that remittances to Latin 
America and the Caribbean would total approximately $161 billion in 2024. 
Monthly remittances typically range from $131 to $648, representing between 6% 
and 23% of the sender&#8217;s average income.
&#8220;Remittances are lifelines in this region, but they&#8217;re broken,&#8221; Lapchik told 
Cointelegraph.
&#8220;Guatemala alone sees $21 billion in remittances every year, and families are 
losing 6% to 10% of that to fees and delays. These are people sending $300, 
$400 a month, and they can&#8217;t afford to wait days or pay that much just to get 
money home,&#8221; he said, adding:
&gt; &#8220;Crypto solves this when it&#8217;s used the right way. It lets us move money 
&gt; instantly and at a fraction of the cost, integrated into the bank apps 
&gt; people already use.&#8221;
Latin America is the second-fastest growing region in terms of crypto 
adoption, though Guatemala lags behind regional leaders Argentina, Brazil, 
Mexico, Venezuela and Colombia, according to a 2024 Chainalysis study.
The study cited stablecoins as a primary adoption driver in the region.
_Crypto adoption in Latin America by total value received. 
Source:__Chainalysis_
Lapchik said stablecoins facilitate cross-border transactions more easily, but 
that &#8220;people don&#8217;t wake up saying, I need a stablecoin.'&#8221;
&#8220;Stablecoins are just the best way to make that happen,&#8221; he said.
_**Magazine:**__**Crypto wanted to overthrow banks, now it &#8216;s becoming them in 
stablecoin fight**_

Guatemala’s largest bank integrates blockchain for cross-border payments

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In a fresh 12-hour chart shared on X, independent technician Cantonese Cat 
(@cantonmeow) underscores what he calls a “Bollinger Band squeeze” on 
Dogecoin, hinting that volatility could be about to erupt. Dogecoin Bollinger 
Bands Hint At ‘Huge Move’ The chart, captured at 03:54 UTC on May 21, fixes 
the memecoin at $0.22967 while the 20-period simple moving average (the 
Bollinger basis) tracks marginally lower at $0.22717. The upper and lower 
bands are parked at $0.24260 and $0.21175 respectively, compressing the 
trading envelope to barely three US cents and leaving just a 13.6% gap between 
the extremes—its tightest spread since early April’s doldrums. The chart lays 
out a clear chronology of volatility expansion and subsequent contraction. 
From May 6 onward Dogecoin erupted out of a month-long base, sprinting from 
the mid-$0.16 zone to print a local peak roughly at $0.26. That impulse 
detonated the bands to their widest reading in six weeks. Since then, the DOGE 
price has traced a shallow pull-back but—importantly—has not surrendered the 
20-SMA. Each dip into the mid-$0.21 area has been absorbed, carving out 
progressively higher lows and turning the mid-band into dynamic support. 
Related Reading: Dogecoin Breakout Expected Within The Next 7 Days: Analyst 
With the bands now coiling, traders are eyeing the inflection points 
telegraphed by the indicator. A decisive 12-hour settlement beyond the upper 
rail at $0.243 would release price into open air, exposing the recent swing 
high at $0.27 and, beyond that. Conversely, a candle body punched through the 
lower rail at $0.212 would nullify the short-term bullish structure and likely 
drag Dogecoin toward the psychological $0.20 handle and May’s value area near 
$0.16. Until either threshold gives way, the squeeze itself remains the story. 
“Bollinger band squeezing, getting ready for the next huge move,” the analyst 
writes fittingly. Related Reading: Dogecoin On The Edge: Major Breakout Or 
Breakdown Imminent? DOGE Channel Breakout Is Brewing Shifting up to the one- 
day view, Dogecoin’s action since the November-2024 peak is contained by a 
broad descending channel whose ceiling now descends through the $0.24 
corridor. Price is camped directly beneath that upper rail at $0.231, an area 
that also coincides almost to the cent with the 61.8% Fibonacci retracement of 
the full November-high–to–mid-March-low leg ($0.234). The confluence creates a 
technically potent lid: a daily close above it would not only mark the first 
breach of the seven-month channel but would simultaneously reclaim the “golden 
ratio,” an event that historically invites trend acceleration. If bulls can 
force settlement north of the overhead trendline and the 0.618 Fib, the next 
magnet resides at the 0.5 retracement ($0.2824). Beyond that, the 0.382 level 
at $0.3300 and the 0.236 at $0.3890 bracket the higher targets inside the 
channel’s former interior. Failure here would leave a well-defined support 
ladder: the 200-day EMA at $0.217, the 100-day at $0.207, and the cluster 
around the 0.786 Fib at $0.1669. Only a decisive break of those shelves would 
re-energise bears sufficient to revisit the March capitulation trough at 
$0.13. Featured image created with DALL.E, chart from TradingView.com

Dogecoin Bollinger Squeeze Signals ‘Huge Move’ Ahead, Analyst Warns

Hong Kong&#8217;s Legislative Council has passed the Stablecoin Bill, paving the way 
for a regulated framework that could position the region as a global leader in 
digital assets and Web3 development.
In a May 21 post on X, Legislative Council member Johnny Ng Kit-Chong said the 
bill passed its third reading, clearing the final hurdle for adoption.
&#8220;It is expected that by the end of this year, major institutions will be able 
to apply to the Hong Kong Monetary Authority to become licensed stablecoin 
issuers,&#8221; Ng said.
_Image of the legislative assembly session. Source:__Johnny Ng Kit-Chong_
According to the new Hong Kong legislation, stablecoins must be backed by fiat 
currency as underlying assets. Ng said Hong Kong is welcoming &#8220;global 
enterprises and institutions interested in issuing stablecoins to apply in 
Hong Kong,&#8221; offering to personally assist with introductions and 
collaboration:
&gt; &#8220;I am also happy to facilitate connections and collaborate with all 
&gt; stakeholders to advance the development of Web3 in Asia and globally, with 
&gt; Hong Kong at the center.&#8221;
_**Related:**__**Hong Kong introduces crypto staking rules, reaffirms Web3 
commitment**_
## Hong Kong aims to become a web3 powerhouse
Ng said the legislation marks the first step on the road toward building Web3 
infrastructure in Hong Kong. &#8220;The most crucial step is to develop more real- 
world applications.&#8221;
Ng said stablecoin adoption has the potential to drive innovation in retail 
payments, cross-border trade, and peer-to-peer transactions.
He added that he encourages the development and adoption of stablecoins, since 
&#8220;they represent a major financial innovation.&#8221; Regarding enhancing market 
stability, Ng suggested distributing interest earnings to stablecoin holders.
_**Related:**__**HashKey receives Hong Kong approval to offer crypto staking 
services**_
## Interest for stablecoin holders
According to Ng, &#8220;providing interest will strengthen the competitiveness of 
stablecoins.&#8221; This increased competitiveness, he explained, incentivizes 
broader participation and expands stablecoin market share, which supports what 
he views as sustainable growth.
Ng&#8217;s remarks that yield-bearing stablecoins are more competitive follow recent 
data showing that this is the case. Recent research indicates that yield- 
bearing stablecoins have soared to $11 billion in circulation, representing 
4.5% of the total stablecoin market, a steep climb from just $1.5 billion and 
a 1% market share at the start of 2024.
_**Magazine:**__**Crypto wanted to overthrow banks, now it &#8216;s becoming them in 
stablecoin fight**_

Hong Kong passes stablecoin bill, set to open licensing by year-end

Russia is making a crucial step to prepare laws that would allow for the 
seizure of crypto assets.