6 / 23 Relevant items tagged with #Stablecoins

Posts

Bitcoin price drops below $59K as institutions stop buying stablecoins

[Aug 12 8:53 AM] The Bitcoin price last saw its local bottom before Tether minted $1.3 billion worth of stablecoins, which helped BTC recover over 21%.

Hong Kong to enhance digital asset regulation in 18 months

[Aug 11 12:19 PM] By establishing a comprehensive regulatory framework, the city aims to attract global fintech talent, foster innovation, and ensure the security and integrity of digital asset transactions.

Ripple Begins Testing Its Stablecoin on Ethereum and XRP Ledger

[Aug 9 4:53 PM] The company said it will use both Ripple USD (RLUSD) and XRP for cross-border payments services.

Stablecoin Economy Swells by $1.53B in 3 Days Amid Market Rebound

[Aug 9 1:30 PM] With a 5% upswing in the crypto economy over the past day, following a broad market recovery, the stablecoin economy has ballooned by $1.53 billion in just three days. A notable $750 million of that growth occurred within the last 24 hours alone…

Tether to double its workforce to 200 by mid-2025: Report

[Aug 9 5:53 AM] The stablecoin issuer will still be tiny in terms of staff compared to other tech and crypto companies.

Bahamas Enacts Digital Assets and Registered Exchanges Act

[Aug 2 8:30 AM] The Bahamas has enacted the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024), establishing itself as a leader in digital asset regulation. Announced by the Securities Commission, DARE 2024 builds on the DARE Act, 2020, introducing…

BIS, Bank of England unveil Project Pyxtrial for stablecoin monitoring

[Jul 31 9:19 PM] The proof-of-concept showed that real-time monitoring of stablecoin reserves could be achieved with cooperation among regulators, technologists and issuers.

Stablecoin growth soars as crypto global mass adoption ramps up

[Jul 31 9:05 PM] Steady growth in the market cap of many stablecoins highlights investors’ interest in all aspects of the crypto market.

Stablecoin Balance Sheets Can Be Supervised, BIS and UK Central Bank Project Claims

[Jul 31 3:25 PM] Project Pyxtrial is a first step towards a tool that could support supervisors and regulators in proactively detecting issues in stablecoin backing, the report said.

Bybit Launches Digital Rupee for Secure INR Payments

[Jul 30 3:21 PM] The crypto exchange Bybit has introduced a digital rupee (eRupee) as a new payment method for Indian rupee transactions. The launch aims to provide a secure alternative for INR users on its platform. Bybit Aims to Enhance INR Payments With Launch…

Circle Said to Be Trading Around $5B Valuation Ahead of Planned IPO: Sources

[Jul 30 1:44 PM] The issuer of stablecoin USDC was valued at as much as $9 billion when it first tried to go public in a failed SPAC deal in 2022.

Tether dominates with $113B post-SVB collapse — IntoTheBlock

[Jul 30 12:51 PM] Tether’s market cap surges post-SVB collapse, driven by liquidity and accessibility, says ITB’s Vincent Maliepaard.

Nigerian CBDC Adoption Lags, Makes Up Less Than 1% of Currency in Use

[Jul 30 11:30 AM] Nigeria’s central bank digital currency, known as the eNaira, was the first of its kind in Africa. However, it currently represents only about 0.36% of the total currency in circulation. Nigerian experts attribute the slow adoption of the…

Bank of England to Carry Out CBDC, Digital Ledger Experiments

[Jul 30 10:58 AM] In a new discussion paper, the U.K. central bank also said it wants to ensure stablecoins are interchangeable with the pound.

Stablecoin Default Guarantees Pose Risks to the Issuing Banks, Swiss Regulator Says

[Jul 26 9:29 AM] FINMA's guidance explains how banks can limit the risks associated with guaranteeing stablecoin customers' deposits.

Lightning Labs Rolls out Taproot Assets Seeking to Bring Stablecoins to Lightning Network

[Jul 26 5:20 AM] Lightning Labs, an institution dedicated to research and development related to the Lightning Network, Bitcoin’s second layer, has announced the rollout of Taproot Assets. This solution allows for issuing multiple tokens on top of it. The…

Rho Markets returns online with no funds lost after $8M Oracle issue

[Jul 21 11:35 PM] The MEV bot responsible for profiting nearly $8 million in stablecoins returned the funds but wanted the Rho Markets team to admit it was not a hack or exploit.

Australian stablecoin startup Stables expands to Europe

[Jul 21 5:35 PM] Stables co-founder Bernado Bilotta says stablecoins are starting to break free of “crypto-native” applications and make their way into the mainstream.

Basel Committee Gives Permissioned Stablecoins ‘Preferential Treatment’ in Amended Crypto Asset Standard Amidst Heavy Criticism

[Jul 19 1:30 PM] The Basel Committee, responsible for setting standards for bank regulation, has revised its crypto asset standard, introducing new considerations that impact stablecoins. The updated standard favors permissioned stablecoins, such as JPM Coin, over…

Crypto market faces structural weakness: Binance report

[Jul 19 5:51 AM] Despite recent improvements, the crypto market remains down 14% from its peak, with new capital inflows slowing and a “Player vs. Player” market emerging.

Standard Chartered, Animoca, and Three Others Join HKMA's Stablecoin Sandbox as Participants

[Jul 18 6:11 AM] In March, the HKMA started a regulatory sandbox to give potential stablecoin issuers immunity in testing certain operations.

Caliza Raises $8.5 Million to Ease Cross Border Payments Using USDC in Latam

[Jul 17 12:19 AM] Caliza, a fintech company headquartered in the U.S. but focused on Latam, has raised $8.5 million in a funding round led by Initialized, seeking to expand the reach of its foothold in Brazil. The company offers B2B solutions focusing on USDC…

Consumers find more use cases onchain, devs face challenges: Solana Foundation

[Jul 15 2:10 PM] Decentralized finance is becoming more things to more people. That’s not easy to do.

Tether Taps Chainalysis Chief Economist Philip Gradwell as Economics Head

[Jul 15 6:00 AM] Gradwell will be responsible for quantifying the Tether economy to regulators.

US Treasury ‘Very Attentive’ to Russia’s Use of Cryptocurrency, Yellen Says

[Jul 14 4:16 PM] U.S. Treasury Secretary Janet Yellen has addressed concerns about Russia using cryptocurrency to evade sanctions. During her testimony before the House Financial Services Committee, Yellen acknowledged the potential threat, noting that while it may…

Three-Quarters of Jurisdictions Partially or Not Compliant with VASP Sector Recommendation, Says FATF

[Jul 12 11:36 PM] Three-quarters of the jurisdictions surveyed by the Financial Action Task Force (FATF) “are only partially or not compliant” with the anti-money laundering recommendation for the virtual assets sector. According to the latest FATF…

Digital Assets Thrive in H1 2024, CME and Glassnode Report Finds

[Jul 12 9:31 AM] Digital assets showed significant growth in the first half of 2024, driven by increased institutional interest and the approval of spot bitcoin ETFs. According to a report from CME Group and Glassnode, these factors have cemented digital assets as…

How law enforcement struggles with sophisticated crypto laundering

[Jul 11 8:03 AM] Advanced crypto laundering techniques continue to challenge law enforcement and crypto-related services, as highlighted in a new Chainalysis report on money laundering.

Bank of Russia Discusses Conditions of Upcoming Stablecoin Regulation

[Jul 11 5:20 AM] The Bank of Russia has highlighted the conditions it will need to consider when regulating the use of stablecoins for Russian individuals and companies. The bank stated that before a regulation is enacted, a thorough study of these assets and a…

Cryptoquant Report: Bitcoin Whales Buy Aggressively as Price Hits 4-Month Low

[Jul 10 1:35 PM] Bitcoin’s recent price dip to a four-month low has triggered significant losses for new and large investors. This development, combined with mixed market signals, suggests the leading crypto asset is at a critical juncture, according to the…