News Roundup — Bo Hines joins Tether to lead U.S. expansion and digital asset strategy

Major news stories this week:

1. Bo Hines joins Tether to lead U.S. expansion and digital asset strategy
2. Thailand to allow crypto-to-baht conversion for tourists in pilot program
3. MetaMask Unveils mUSD Stablecoin on Ethereum and Linea, Teases Debit Card Functionality
4. Philippine bill charts path to strategic reserve with 10,000 Bitcoin
5. China Wants Its Own Stablecoin -- Should Tether and Circle Internet Worry?

Story Summaries:

1. Tether has appointed Bo Hines, a former senior crypto adviser in the Trump administration, as its new strategic advisor to drive the company’s U.S. expansion.
   Hines will immediately begin coordinating its U.S. market entry and sector engagement.
2. Thailand will start an 18-month pilot program allowing foreign tourists to convert cryptocurrencies into baht for local payments. Under the program, conversions will be capped at 550,000 baht ($16,949). Tourists can convert cryptocurrencies through Thai-based exchange platforms, with funds transferred to online wallet apps for payments at local businesses.
3. MetaMask has introduced mUSD, a wallet-native stablecoin issued by Stripe’s Bridge and fully backed by dollar-equivalent assets. At launch, mUSD will be integrated across the MetaMask ecosystem on Ethereum and the Linea layer-2 chain; later this year, it will be enabled as a payment option for the Mastercard-powered MetaMask debit card.
   
4. New bill proposes Philippines buy 2,000 BTC annually for 5 years to form a 10,000 BTC reserve. Bitcoin to be locked for 20 years, used only for debt repayment, with mandated transparency reports.
5. China’s push for a yuan-backed stablecoin stems from a desire to internationalize the renminbi (RMB) and counter the U.S. dollar’s grip on global finance. A yuan stablecoin, likely tied to the digital yuan (e-CNY), which hit well over $1 trillion in transaction value last year, could offer an alternative for cross-border trade, especially in regions like Southeast Asia and Africa, where China’s economic influence is growing.

And that’s all for last week’s news! Wishing you a great week ahead!