13 / 29 Relevant items tagged with #stablecoin

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Paxos to issue USD stablecoin in Singapore, wins initial approval

[Nov 15, 2023 8:53 PM] The USD-backed token will comply with Singapore’s upcoming stablecoin laws and be issued through a new local Paxos entity that’s received initial approval.

Solana-Based Stablecoin Remittances Get a Boost with CFX Labs' Fresh $9.5M Fundraise to Expand Globally

[Nov 15, 2023 8:38 AM] Remittances are one of the most compelling use cases for stablecoins, offering fast, non-stop settlements and cheap transactions using blockchains as payment rail.

Tether credits USDT growth surge to ETF excitement, emerging markets

[Nov 14, 2023 7:28 AM] Tether USDT added at least $20 billion to its market capitalization in 2023, while rival stablecoin USDC lost the same amount so far this year.

Stablecoin firm Tether minted 4B USDT in 4 weeks: Data

[Nov 13, 2023 4:23 AM] Tether has minted 4 billion USDT over the past month, which accounts for nearly 18% of all USDT issued so far in 2023.

DeFi Platform Raft Suffers $3.3M Exploit, But Hacker Likely Took a Loss on the Attack

[Nov 10, 2023 3:27 PM] Raft's R stablecoin lost its dollar peg, dropping as much as 50% in the immediate aftermath of the exploit.

Tether Achieves Lifetime High With $86.51B Valuation; Tron Version Surpasses ETH in Several Metrics

[Nov 10, 2023 12:30 PM] This week, the leading stablecoin by market capitalization attained a valuation of $86.51 billion, following a supply surge of 3.6% in the past month. Currently, the Tron network holds approximately 45.82 billion USDT, while the Ethereum blockchain…

Report: Stablecoin Giant Circle Eyes 2024 Public Listing

[Nov 9, 2023 12:30 AM] According to anonymous sources familiar with the matter, Circle Internet Financial Ltd., the second-largest stablecoin issuer, plans to go public in 2024 via backing from Blackrock, Goldman Sachs, and others. The news follows Circle’s…

Progmat stablecoin platform takes shape as wallet, liquidity providers join

[Nov 8, 2023 2:51 PM] Progmat Coin hopes to issue yen- and dollar-pegged “trust-type” stablecoins next summer to accommodate around-the-clock settlement.

EU banking watchdog proposes liquidity rules for stablecoin issuers

[Nov 8, 2023 6:18 AM] The proposed guidelines are currently in the public consultation phase for the next three months and, if approved, will come into effect starting in June 2024.

Binance Launches High-Yield USDT Earning Program Amid Fierce Market Competition

[Nov 7, 2023 3:30 PM] This week, Binance, the world’s leading crypto exchange by trading volume, announced the introduction of a tether (USDT) earning program with up to a 13% annual percentage yield (APR). Binance’s USDT earn product joins a slew of other…

South African Financial Giant Says It Will Inject Capital Into ZARP Stablecoin Network

[Nov 7, 2023 6:30 AM] South Africa’s Old Mutual Wealth and financial services provider Inves Capital recently revealed plans to inject liquidity into the ZARP stablecoin network. Inves Capital’s managing director said “crypto is entering a new…

Moody’s unveils service that uses AI to predict stablecoin depeggings

[Nov 6, 2023 6:35 PM] Moody’s Analytics will use machine learning and a host of indicators to compile and analyze large-cap stablecoins and identify probable depeggings.

UK stablecoin regulation begins to take shape in multiple FCA, BOE documents

[Nov 6, 2023 2:10 PM] It’s not expected to come into force until 2025, but new publications from the FCA and BOE shed light on regulators’ thinking.

Aave’s GHO Stablecoin Grapples With Dollar Peg Stability: Liquidity Fixes on the Horizon

[Nov 4, 2023 3:30 AM] The decentralized finance (defi) protocol Aave’s stablecoin asset called GHO has been struggling to keep its peg to the U.S. dollar. While it is coasting along at $0.966 per unit at the time of writing, five days ago it tapped an all-time low at…

PayPal Faces SEC Subpoena Over Its PYUSD Stablecoin

[Nov 2, 2023 4:47 AM] Global payments giant PayPal (PYPL) received a subpoena from the U.S. SEC requesting documentation about its USD stablecoin on Wednesday.

Tether issues $610M debt financing to Bitcoin miner Northern Data

[Nov 2, 2023 3:22 AM] In September 2023, Tether also invested an undisclosed amount in Northern Data in a move backing AI initiatives.

Bitcoin crash pre-halving? Stablecoin metric that marked 2019 top flashes warning

[Nov 1, 2023 8:20 AM] Two key BTC supply metrics show conflicting signals on whether a retracement will occur before the Bitcoin halving.

Circle to phase out consumer accounts, but business and Mint will remain

[Oct 31, 2023 12:56 PM] Stablecoin issuer Circle sent emails to customers stating that individual consumer accounts would be phased out.

From payments to DeFi: A closer look at the evolving stablecoin ecosystem

[Oct 31, 2023 7:01 AM] The stablecoin ecosystem has evolved significantly over the years, with new regulations and models shaping the landscape.

Terraform co-founder Shin blames protocol for collapse during trial in S. Korea

[Oct 30, 2023 1:24 PM] Daniel Shin claimed he and Do Kwon parted ways before the collapse of the Terra/Luna ecosystem was imminent and that he had nothing to do with it.

UK publishes plans for stablecoins regulation

[Oct 30, 2023 5:57 AM] Non-fiat-backed stablecoins will not be allowed into regulated payment chains.

Brazil’s USDT adoption soars in 2023, makes up 80% of all crypto transactions

[Oct 29, 2023 12:42 PM] USDT has seen a significant surge in adoption in Brazil, accounting for 80% of all cryptocurrency transactions in the country so far in 2023.

Fed, BOE officials share continuing interest in CBDCs, stablecoin regulation

[Oct 27, 2023 11:14 AM] Sir Jon Cunliffe looks at payment solutions of the past and future in his last speech as deputy governor of the BOE.

PYUSD Supply Skyrockets by 49%, Marking a Shift in Distribution as New Holders Emerge

[Oct 25, 2023 7:30 AM] According to current metrics, Paypal’s stablecoin PYUSD has increased its supply by more than 49% since the end of September, rising from 94.39 million to 140.86 million. Moreover, the number of PYUSD holders has risen by 55% since September…

Stablecoin market escaping US regulatory oversight: Chainalysis

[Oct 24, 2023 2:14 AM] Stablecoin activity has been increasingly occurring through entities that aren’t licensed in the United States, according to Chainalysis.

Tether Will Publish Reserve Data in Real Time in 2024: Report

[Oct 20, 2023 4:57 AM] Stablecoin issuer Tether will publish real time data on the reserves backing USDT, the industry's largest dollar-pegged stablecoin, according to a Bloomberg report.

U.S. Risks Unleashing Second 'Eurodollar' Market if It Dallies on Stablecoin Regulation

[Oct 19, 2023 2:23 PM]

Fed governor Bowman doubles down on CBDC skepticism, likes stablecoin no better

[Oct 17, 2023 12:24 PM] Michelle Bowman told a university audience that financial innovation should be justified by need and be properly regulated.

Binance.US asks users to convert USD into stablecoins for withdrawals

[Oct 17, 2023 8:08 AM] Binance.US users “may convert” their U.S. dollar holdings to stablecoins or other digital assets to withdraw the funds from their accounts, the firm said.

Canada central bank assesses innovations and challenges of DeFi

[Oct 17, 2023 3:49 AM] The staff note suggested that, although the DeFi ecosystem brings a ton of innovations in the financial sector, the regulatory challenges and vulnerability limit its potential use in traditional finance.