23 Apr, 2025

Luang Prabang Surges Past Tourism Goals with Over 1.1 Million Visitors, Fueling Economic Growth

Luang Prabang experienced a tourism boom in the first quarter of the year, generating USD 584,665,369 million in revenue, marking a 162 percent increase in tourist numbers compared to the same period last year.Between January and March, the province welcomed 1,167,581 visitors, including 459,091 domestic travelers and 708,490 international tourists. This represents a significant increase of 722,679 visitors year-over-year, according to Soudaphone Khomthavong, Director of the Luang Prabang Provincial Information, Culture and Tourism Department.In 2024, Luang Prabang saw a total of over 2.3 million tourists, far exceeding its original target of 900,000. This influx played a key role in driving the province’s GDP to LAK 3,989 billion (approximately USD 183 million), with an average income of USD 1,897 per person.The province continues to focus on development in key areas such as education, infrastructure, and tourism. As part of its ongoing efforts to strengthen the province, a meeting was held on 21 April at the Luang Prabang Military Command to address the shortage of teachers and improve educational outcomes. The session focused on identifying key challenges in human resource development and exploring practical solutions to support workforce growth across multiple sectors.In February, Luang Prabang was officially declared a “poverty-free” and “comprehensively strong” city, reflecting significant strides in regional development.

21 Apr, 2025

Circle Debuts Stablecoin-Based Network to Reduce Costs, Delays in Global Payments

Circle, the company behind the USDC stablecoin, has unveiled an infrastructure platform aimed at modernizing cross-border payments by allowing banks and financial institutions to move money instantly, 24/7, using fully reserved digital dollars (USDC) and euros (EURC).The Circle Payments Network (CPN) will allow banks and financial providers to send money instantly, 24/7, using stablecoins like USDC and EURC. It is designed to support invoice payments, remittances, treasury services, payroll, and contractor payouts.More than 20 design partners are already participating, including dLocal, WorldRemit, BVNK, Yellow Card, and Coins.ph, signaling a focus on institutions operating in emerging markets and high-volume remittance corridors."We are not just building stablecoins. We are building a modern infrastructure for global payments," Circle said in a post on X.The initiative takes aim at the aging infrastructure of global finance. International banking settlements are notoriously slow, expensive, and hindered by legacy systems.Though it’s hardly the first fintech to try and revolutionize cross-border payments or replace SWIFT—and none have yet succeeded—Circle claims banks and payment providers will be able to move money “at internet speed” through programmable and secure transfers that are always available. USD stablecoins now boast a combined market cap north of $231 billion, according to CoinGecko, with over $37 billion traded in the past 24 hours. Tether’s USDT continues to dominate at $144 billion, while Circle’s USDC accounts for around $60 billion of the market.The launch represents a strategic expansion of Circle’s role from a stablecoin issuer to a provider of the infrastructure that moves those assets at scale. With CPN, Circle is trying to position itself as a foundational layer in the global financial stack. The company says “leading banks” are helping shape the network, referring to the advisors listed on its website, which include Deutsche Bank and Standard Chartered.At the same time, Circle is looking to deepen its foothold in the traditional finance world. As reported by The Wall Street Journal on Monday, Circle is among a group of crypto firms—including BitGo, custodian of the Trump family’s stablecoin USD1—planning to seek U.S. bank charters or licenses as the former president positions the country as a potential “bitcoin superpower.”