11 / 29 Relevant items tagged with #stablecoin

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Report: US Crypto Startup Seeks to Launch an Interest-Bearing Stablecoin

[Jan 24 6:30 AM] A U.S. blockchain and lending startup is seeking the U.S. Securities and Exchange Commission’s permission to issue an interest-bearing stablecoin. The startup said the digital token will be used as an alternative to existing stablecoins such…

K33 Research Note Claims Cardano Network Lacks Meaningful Use, Native Token Value at Risk

[Jan 19 6:30 AM] The latest K33 Research note asserts that the Cardano network has no meaningful use and this does not augur well for its native token. The note concludes that nothing is happening on the network except “exchange transfers and a group of…

TrueUSD Wobbles Towards $1 Peg Amid Reported Redemption Issues

[Jan 18 4:54 AM] TUSD went as low as 96 cents as Binance data shows traders apparently sold over $300 million worth in the past 24 hours.

Circle Report Shows USDC Navigating Challenging Waters in 2023

[Jan 17 5:00 AM] Despite a challenging 2023 with a substantial decline in circulating supply, a Circle report claims USDC emerges resilient, experiencing a surge in real-world applications and a decrease in speculative trading. A Resilient Year for USDC Amidst…

Tether Criticizes UN Report for Ignoring USDT’s Role in Helping Developing Economies

[Jan 17 3:30 AM] Tether, the issuer of the stablecoin USDT, has blasted the findings of a United Nations Office on Drugs and Crime study which ignore the stablecoin’s “role in helping developing economies in emerging markets.” According to…

Can Crypto Dethrone U.S. Dollar Dominance? Here Is Morgan Stanley's Take

[Jan 16 12:25 PM] U.S. monetary policy, combined with the use of economic sanctions, have forced some countries to look for alternatives to the dollar, while growth of stablecoins may have emphasized the need of the fiat currency, the bank said.

Chainlink Teams Up With Circle to Allow Cross-Chain Stablecoin Transfers

[Jan 16 9:01 AM] The integration allows developers to build cross-chain use cases via Chainlink's CCIP that involve multichain transfers of Circle's USDC stablecoin.

USDT at the Heart of Pig Butchering Scams Says the UN

[Jan 16 5:30 AM] The stablecoin tether has emerged as one of the preferred payment methods for money launderers and fraudsters operating out of Southeast Asia, the findings of a new United Nations study have shown. According to Jeremy Douglas, criminals are…

Tether Hits Back at UN Report Alleging Role of USDT in Illicit Activity in East Asia

[Jan 16 5:25 AM] Tether, the issuer of the largest stablecoin by market cap, has challenged the United Nations (UN) for its report on underground banking and money laundering infrastructure in East and Southeast Asia.

Coinbase Partners With Yellow Card to Expand Access to Its Products in 20 African Countries

[Jan 13 5:00 AM] The leading crypto exchange Coinbase has said it will expand access to its products to 20 African countries. Coinbase also claimed that its partnership arrangement with the Africa-focused crypto exchange Yellow Card can help increase financial…

PYUSD’s 30-Day Surge of 72% Vaults Paypal’s Offering Into USD Stablecoin Top Ten

[Jan 11 8:30 AM] Over the last month, the supply of Paypal’s PYUSD stablecoin has seen a substantial increase, surging by over 72% from 167.83 million to 289.43 million PYUSD. This significant growth has propelled the payment behemoth’s dollar-linked…

Consortium of Nigerian Banks and Fintechs Cleared to Pilot Stablecoin

[Jan 7 4:30 AM] The Nigerian central bank has given its go-ahead for the Africa Stablecoin Consortium (ASC) to pilot its cNGN stablecoin initiative in the financial regulator’s regulatory sandbox. The ASC asserts that the cNGN stablecoin can prove to be…

Gamma Heist — Over $3M in Digital Assets Drained, 1,000 ETH Moved to Tornado Cash

[Jan 6 12:30 AM] On Jan. 4, the decentralized finance protocol Gamma Strategies was a victim of a hacking attack which saw criminals make off with digital assets worth over $3 million. To pre-empt further attacks, Gamma Strategies said it has shut off all deposits…

USDC Stablecoin Temporarily Depegs to $0.76 on Binance Amid Market Turbulence

[Jan 4 8:30 AM] Circle’s USDC, typically pegged to the dollar, experienced unexpected volatility on Binance, dipping as low as $0.76 amidst a market rattled by Bitcoin ETF skepticism and a significant liquidation in derivatives. USDC Temporarily Depegs on…

Stablecoin Storm — Gemini’s GUSD Shrinks 93% Amidst Market Turbulence

[Jan 3 11:30 AM] Over the past few years, the stablecoin market has significantly slowed, particularly since mid-2022, following the collapse of Terra’s stablecoin. Additionally, last year, the New York Department of Financial Services (NYDFS) instructed…

Stablecoins Can Help Fix the Current Lending Market

[Jan 3 10:45 AM] The Global Financial Crisis reduced the depth of capital markets. Blockchain-based stablecoins can help fill the gap, say Christine Cai and Sefton Kincaid, of Cicada Partners.

Hong Kong Regulators Unveil Public Consultation Paper on Stablecoin Regulation

[Dec 28, 2023 6:30 AM] Hong Kong Monetary Authority (HKMA) and Financial Services and the Treasury Bureau have released a public consultation paper to gather residents’ opinions on the proposed regulatory regime for stablecoin issuers. The HKMA also announced the…

Paxos Expands to Solana Following NYDFS Nod, Widening Stablecoin’s Horizon

[Dec 22, 2023 2:30 PM] The tokenization and stablecoin platform Paxos has revealed plans to broaden its stablecoin issuance to the Solana blockchain. The company, which oversees the pax dollar (USDP), anticipates that Solana-issued USDP will be publicly available…

GHO Stablecoin Fails to Enforce Dollar Peg Amid Criticism, Receives D Grade From Bluechip

[Dec 22, 2023 11:30 AM] Roughly three weeks ago, Bitcoin.com News covered the stablecoin GHO, when it achieved a notable milestone by reaching $0.98 per coin. However, on December 11, the token experienced a slight dip, hitting $0.975 per unit. Despite some improvement in…

Supply of Stablecoins on Ethereum Protocol 30% Lower Than in 2022 — Study

[Dec 21, 2023 1:30 AM] The supply of stablecoins on the Ethereum chain has dropped by more than 30% from the peak of $100 billion to $66 billion since 2022. The study data shows BUSD and USDC as the two stablecoins which caused the overall market value to fall from $139…

Crashed Stablecoin Iron Bank Euro (ibEUR) Lacks Fast Repeg Path

[Dec 19, 2023 11:42 AM]

Circle Launches EURC Stablecoin on Solana, Expanding Euro Access in the Crypto Space

[Dec 19, 2023 1:30 AM] Expanding the global reach of euro-based stablecoins, Circle has debuted its EURC token on the Solana blockchain, offering a fully reserved, euro-backed digital asset. Circle Expands its Stablecoin Portfolio With EURC Launch on Solana, Boosting…

Circle Issues Euro-Backed Stablecoin EURC Natively on the Solana Blockchain

[Dec 18, 2023 8:00 AM] Circle aims to boost around-the-clock foreign exchange transactions and remittances by deploying EURC on Solana.

Crypto Biz: Worldcoin expands, Saudi Aramco considers digital assets, and more

[Dec 15, 2023 3:00 PM] Traditional financial firms are increasingly connecting services, portfolios and operations with digital assets.

Basel Committee suggests introducing maturity limits for stablecoin reserve assets

[Dec 14, 2023 5:52 AM] Should longer-term assets be allowed as reserve assets, the committee thinks these must overcollateralize the claims of stablecoin holders.

German asset manager DWS joins Galaxy to issue euro stablecoin

[Dec 13, 2023 2:57 AM] AllUnity, a new joint venture by DWS, Galaxy and Flow Traders, plans to issue the euro stablecoin on all major public permissionless L1s and L2s, DeFi use cases.

S&P Global launches stablecoin ratings, ranks GUSD, USDP, USDC highest

[Dec 12, 2023 1:00 PM] The producer of the S&P 500 assessed eight stablecoins. Tether received the second-lowest rating.

Tether Implements New Stablecoin-Freezing Policy After Seizing Funds Tied to OFAC Sanctioned Entities 

[Dec 10, 2023 4:30 AM] Tether, a leading stablecoin company in the crypto industry, has announced a significant new initiative aimed at strengthening the security of the crypto asset ecosystem. The company announced this weekend that its recent move to voluntarily freeze…

Palau’s Ripple-supported stablecoin pilot achieves positive results

[Dec 8, 2023 3:20 PM] The U.S. dollar-pegged Palau Stablecoin was used by 168 volunteers for $100 of retail purchases in three months.

Tether’s Market Cap Soars by Over 35% to $90 Billion in 2023, Nearing Top 100 Global Assets

[Dec 7, 2023 11:30 AM] Tether, the leading stablecoin by market capitalization, has seen its supply increase by 5.5% in the last month, achieving a significant market valuation of $90 billion. Since 2015, Tether’s Market Cap Has Swelled by 35,912,812% Since the…