19 / 29 Relevant items tagged with #stablecoin

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Stablecoin Wallet Rpay Secures License from OFAC to Continue Operating in Venezuela

[Jun 29, 2023 10:00 AM] The approval does not absolve Rpay of its compliance duties, but does eliminate the growing compliance risk, the company said.

UK Crypto, Stablecoin Rules Receive Royal Assent, Passing Into Law

[Jun 29, 2023 8:13 AM] The Financial Services and Markets Act 2023 classifies crypto as a regulated financial activity.

Bitcoin salary: Employees choose crypto paychecks amid economic instability

[Jun 29, 2023 6:39 AM] Volatility among some fiat currencies has made stablecoins like USDC a more attractive option for payroll, according to HR executives.

RBI lists risks of stablecoin for developing economies, calls for global regulation

[Jun 28, 2023 4:00 PM] The Reserve Bank of India listed six specific ways stablecoin can undermine emerging markets, adding to its mounting case against crypto.

Paxos and MercadoLibre partner up to bring USDP to Mexico

[Jun 28, 2023 7:01 AM] The move provides PAX coin access to Mexico’s 3.1 million-plus cryptocurrency users.

TrueUSD Stablecoin Has $26k of Funds at ‘U.S. Depository Halting Withdrawals,’ Reserve Report Says

[Jun 27, 2023 12:44 PM] The stablecoin issuer said last week that it had “no exposure” to the failed crypto custodian Prime Trust.

Terra Allies’ Six Samurai team aims to revive the ecosystem

[Jun 25, 2023 2:50 AM] The Terra Allies senior full stack engineering team, known as the Six Samurai, has presented their Q3 spend proposal, emphasizing their deep passion as Luna Classic holders.

BUSD Market Cap Plunge Of 80% In 2023 Raises Concerns Of Impending Collapse

[Jun 24, 2023 7:26 AM] The fate of Binance USD (BUSD), the stablecoin introduced by Binance, hangs in the balance as its market capitalization has experienced a significant decline of over 80% in 2023. From November 2022 to June of the current year, BUSD’s market…

Trader takes $4M short position on TrueUSD as issuer halts mints and redemptions

[Jun 24, 2023 1:22 AM] An Ethereum user used Aave’s v2 lending platform by depositing 7.5 million USDC as collateral.

Binance US Restores USD Withdrawals, Suggests Users Withdraw or Spend Their Dollars

[Jun 23, 2023 12:30 PM] The U.S. subsidiary of the world’s largest crypto exchange, Binance, announced it has resolved the issues with U.S. dollar (USD) withdrawals. The trading platform, which recently averted an asset freeze sought by the United States Securities…

TrueUSD assures users it has no exposure to troubled Prime Trust

[Jun 22, 2023 1:10 PM] Stablecoin issuer TrueUSD maintains that it is not affected by the current challenges facing Prime Trust.

Raft’s R Stablecoin Surges as Traders Embrace Liquid Staking Ether Products

[Jun 21, 2023 2:07 PM] While Raft is centered around its R stablecoin backed by Lido’s stETH, the team has had ongoing conversations about introducing RAFT, an additional token intended to empower community members and help decentralize the protocol

Circle Restarts U.S. Treasury Purchases in BlackRock-Managed USDC Reserve Fund

[Jun 21, 2023 12:12 PM] Repurchase agreements will keep being part of the reserve fund, Circle’s chief financial officer said Wednesday during a company call.

MakerDAO Boosts U.S. Treasury Holdings by $700M to Back DAI Stablecoin With Real-World Assets

[Jun 21, 2023 9:39 AM] The purchase is the latest step to increase the role of real-world assets in the platform’s DAI stablecoin reserve.

Central Banks Propose CBDC, Stablecoin Standards With Amazon, Grab Running Trials

[Jun 21, 2023 8:26 AM] The Monetary Authority of Singapore (MAS), in collaboration with the IMF and other central banks, is proposing common conditions for retail payments with digital money on a distributed ledger.

TUSD Emerges Strong: 1 Billion Injection Bolsters Supply Amidst Declining Stablecoin Market

[Jun 21, 2023 3:09 AM] On June 16, TUSD supply surged by 52%! The difficulties the dollar-pegged token economy was facing were recently brought to light when significant redemptions caused its market valuation to drop to a 20-month low. Binance’s dominance in TUSD…

Tokenization Could Be a $5T Opportunity Led by Stablecoins and CBDCs: Bernstein

[Jun 20, 2023 12:46 AM] About 2% of global money supply, via stablecoins and CBDCs, could be tokenized over the next five years, which is about $3 trillion, the report said.

Stablecoins Supply Finally Shows Rise, Here’s Why This Is Bullish For Bitcoin

[Jun 19, 2023 10:00 AM] On-chain data shows the supply of stablecoins has been going up recently, a sign that could potentially be bullish for Bitcoin. Stablecoins Have Registered An Increase In Their Supply Recently As pointed out by an analyst in a CryptoQuant post…

BUSD falls to fourth position among stablecoins

[Jun 17, 2023 2:43 PM] After a dip of over $1 billion in the past 30 days, BUSD now sits at the fourth position in market capitalization among stablecoins.

Curve pool imbalance triggers USDT depeg concerns: Finance Redefined

[Jun 16, 2023 2:25 PM] The top 100 DeFi tokens had another bearish week, with the majority of tokens trading in the red.

Curve pool imbalance triggers USDT depeg concerns, Tether CTO calls it FUD

[Jun 15, 2023 3:40 AM] The stablecoin pool ideally has a weightage of 33.3% of each USDT, USDC and DAI, however, on June 15, the USDT weightage rose above 70% in the pool.

Custodian Prime Trust’s Payments Subsidiary Banq Files for Chapter 11 Bankruptcy Protection

[Jun 14, 2023 5:30 PM] Shortly after the custodian Bitgo announced its acquisition of the company Prime Trust, its payments subsidiary, a firm called Banq, filed for Chapter 11 bankruptcy protection in the United States. According to court documents, the filing reveals…

MakerDAO Weighs Ditching $390M of Gemini Dollars from DAI Reserve

[Jun 14, 2023 11:03 AM] The result could have a significant impact on Gemini and its stablecoin as MakerDAO’s reserve holds roughly 88% of total GUSD supply.

Tether Shuffles The Deck: 750 Million USDT Shifted From Tron To Ethereum

[Jun 14, 2023 4:04 AM] The company behind the issue of USDT stablecoin, Tether Holdings, has announced that it will work with a third-party exchange to convert 750 million USDT from Tron to Ethereum ERC20 via a chain swap. With a current market valuation of $83.37…

Hong Kong and the US aim for stablecoin regulations by 2024

[Jun 13, 2023 5:43 AM] The U.S. is another country currently working on stablecoin market regulations having introduced three drafts of the bill until June first week.

Tether CTO clarifies $1B USDT mint on Ethereum is for chain swaps

[Jun 12, 2023 6:30 AM] The move is Tether’s second $1 billion mint in two months, bringing the total USDT minted by the stablecoin issuer in 2023 to over $16 billion.

Latam Insights — Volcano Energy Bitcoin Mining Project Rises in El Salvador, Venezuelan Miners Leaving Amidst Crypto Corruption Probe

[Jun 12, 2023 5:30 AM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Volcano Energy rises in El Salvador, Venezuelan bitcoin miners flee amidst nationwide mining ban, and…

Turks Turn to Tether Amid Record Inflation, Limited Access to Dollar, Report Reveals

[Jun 11, 2023 7:30 PM] People in Turkey have been seeking refuge in stablecoins as their national fiat continues to depreciate against the greenback. The Turkish lira saw a record drop in its exchange rate with the U.S. dollar when the country’s central bank…

Bitcoin Dominance Soars to 47.5%: Highest Level in a Year as Other Crypto Assets Suffer

[Jun 10, 2023 4:00 PM] On June 10, 2023, bitcoin is dominating with a market capitalization dominance of 47.5%, marking its highest level since this time last year, according to coinmarketcap.com. Meanwhile, ethereum’s dominance is holding steady at 20%…

TrueUSD stops minting via Prime Trust, loses dollar peg

[Jun 10, 2023 12:47 PM] The recent depeg comes as TrueUSD team announced a pause on TUSD minting through Prime Trust until further notice.