24 / 29 Relevant items tagged with #stablecoin

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Mastercard to settle transactions for stablecoin wallet in APAC

[Mar 20, 2023 5:00 PM] Mastercard has entered a collaboration that would allow retail customers in the APAC region to spend their stablecoins anywhere Mastercard is accepted.

USDC depeg will hinder stablecoins’ growth, increase regulatory scrutiny — Moody’s

[Mar 17, 2023 2:15 PM] “Financial institutions may reconsider adopting stablecoins to settle agreements involving tokenized securities out of concern over the coins’ potential volatility,” Moody’s said.

This Crisis Will Define the Future of Money

[Mar 17, 2023 12:11 PM] The recent collapse of three high-profile banks - Silicon Valley Bank, Silvergate Bank and Signature Bank - has caused worrying outflows at hundreds of regional banks. Now, with the U.S. Federal Reserve creating a new backstop facility reportedly…

Crypto Biz: SVB collapses, USDC depegs, Bitcoin still up

[Mar 17, 2023 12:00 PM] Turmoil in traditional finance spilled over into Bitcoin and crypto markets, forcing federal regulators to step in.

SVB Collapse Shows the Rot in U.S. Banking and Dollars

[Mar 17, 2023 9:15 AM]

MakerDAO passes proposal for $750M increase in US Treasury investments

[Mar 16, 2023 3:45 PM] The emergency proposal increases MakerDAO’s holdings of United States bonds by 150%, aiming to diversify the Dai stablecoin’s collateral exposure.

Swiss Bankers Association proposes deposit tokens to develop digital economy

[Mar 16, 2023 3:30 PM] A deposit token is a concept that came out of Singapore’s Project Guardian last year, and it has already been touted by JPMorgan.

The Banking Crisis Has Been Good for Stablecoin Experimentation

[Mar 16, 2023 11:33 AM]

KuCoin leads $10M funding for Chinese yuan stablecoin issuer

[Mar 15, 2023 4:00 AM] Circle’s investment arm has joined a funding round for CNHC, the issuer of the eponymous stablecoin pegged to the offshore yuan.

National Australia Bank makes first-ever cross-border stablecoin transaction

[Mar 14, 2023 3:59 PM] The “Big Four” Australian bank is the second to issue a stablecoin and hopes to support transactions by corporate clients by the end of the year.

Silvergate, SBV collapse ‘definitely good’ for Bitcoin, Trezor exec says

[Mar 14, 2023 9:00 AM] While Signature’s Barney Frank referred to the recent events with SVB as an “anti-crypto message,” Trezor’s Josef Tetek says they are “definitely good” for Bitcoin.

Recent contagion was ‘TradFi to crypto’ and not vice versa — Circle policy director

[Mar 13, 2023 4:03 PM] “What happened over the last several days was a bit of an ironic black swan situation where the contagion was not from crypto to TradFi,” said Caroline Hill.

Circle Partners With Cross River Bank, Handful of US ‘Crypto-Friendly’ Banks Remain; Okcoin Suspends USD Deposits

[Mar 13, 2023 3:00 PM] Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1…

Bitcoin futures premium falls to lowest level in a year, triggering traders' alerts

[Mar 13, 2023 2:20 PM] On March 12, Bitcoin futures traded 5.5% below regular spot exchanges, causing volatility in derivatives markets.

Coinbase disables trading for BUSD

[Mar 13, 2023 12:00 PM] Coinbase assured users that their BUSD funds would remain accessible and they could still withdraw funds at any time.

Binance Converts $1 Billion BUSD Into Bitcoin, BNB, and Ethereum

[Mar 13, 2023 11:30 AM] On Monday, Binance CEO Changpeng Zhao, also known as CZ, announced that the company had decided to convert $1 billion worth of BUSD from the Industry Recovery Initiative fund into three different cryptocurrencies. Zhao noted that significant…

Gemini says no funds at Signature Bank backing GUSD

[Mar 13, 2023 11:30 AM] The company stated that it previously had a relationship with Signature but said it no longer has funds there.

Crypto industry may escape lasting damage from Silvergate liquidation

[Mar 13, 2023 8:01 AM] Some foresee benefits if the U.S. finally gets sensible crypto regulation post-Silvergate, and traditional banks “may become warmer to establishing [crypto] relationships.”

Bitcoin price flash spikes to $50K on Binance after USD Coin peg snaps

[Mar 13, 2023 6:06 AM] The market frenzy that started with the Silicon Valley Bank collapse is pushing the BTC price higher, with some casualties left behind.

Circle taps Cross River as banking partner, expands ties with BNY Mellon

[Mar 13, 2023 5:47 AM] Circle announced a new banking partner after Silicon Valley Bank’s failure, and is expanding ties with BNY Mellon.

Fed starts ‘stealth QE’ — 5 things to know in Bitcoin this week

[Mar 13, 2023 4:21 AM] Bitcoin and crypto react bullishly to news that the Fed is providing liquidity again in the wake of Silicon Valley Bank failing and Signature Bank being closed.

Binance CEO announces recovery funds conversion from BUSD to 'native crypto'

[Mar 13, 2023 2:50 AM] Binance CEO says with recent “changes” in stablecoins and banks, the company’s recovery fund will be converted from BUSD to “native cryptos" such as BTC.

USDC Stablecoin Nears Parity With USD After Fed’s Bailout Announcement

[Mar 12, 2023 8:30 PM] The stablecoin USDC has nearly regained parity with the U.S. dollar after rising just above $0.99 on March 12, 2023, at 7:20 p.m. Eastern Time. The stablecoin jumped back to the $0.99 range after the U.S. Federal Reserve revealed it would bail out…

USDC Dominated Trading Volume on Decentralized Exchanges Amidst Depegging Incident

[Mar 12, 2023 8:30 AM] On Saturday, several centralized crypto trading platforms and payment processors stopped USDC auto conversions. However, USDC experienced a significant trading volume on decentralized exchange (dex) platforms such as Uniswap, Curve, and…

Do Kwon had the right idea, banks are risk to fiat-backed stablecoins: CZ

[Mar 11, 2023 11:26 PM] Given Silicon Valley Bank’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing the risks of stablecoins.

Insolvency fears led many to turn to other stablecoins, sell USDC at a major discount

[Mar 11, 2023 6:43 PM] Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency.

Circle Issues Update Amid Stablecoin Volatility; Firm Is Prepared to ‘Stand Behind USDC and Cover Any Shortfall’

[Mar 11, 2023 6:00 PM] On Saturday, March 11, 2023, Circle Financial updated the public about its stablecoin, USDC, and noted that the stablecoin’s liquidity operations will resume normally on Monday morning in the United States. Circle said that the…

Circle plans to cover missing liquidity in Silicon Valley Bank with corporate funds

[Mar 11, 2023 2:52 PM] According to Circle, USDC liquidity operations will "resume as normal when banks open on Monday morning in the United States," enabling USDC redemption at 1:1 with the U.S. dollar.

Makerdao Issues Emergency Proposal to Address $3.1B in USDC Collateral After Stablecoin Depegging Incident

[Mar 11, 2023 12:30 PM] On March 11, 2023, the decentralized finance project Makerdao issued an emergency proposal following the USDC depegging incident that saw the stablecoin dip down to $0.877 per unit. At the time of writing, Makerdao commands $3.1 billion in USDC…

Curve Finance trading volume reaches $7B historic high after USDC depeg

[Mar 11, 2023 12:19 PM] The USD Coin depeg led the DeFi protocol to experience a record-breaking daily trading volume as crypto whales fight for assets.