29 / 30 Relevant items tagged with #stablecoin

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Iran and Russia Consider Issuing Gold-Backed Stablecoin, Officials Unveil

[Jan 18, 2023 12:30 AM] Tehran and Moscow are discussing the possible launch of a stablecoin for international settlements, the Russian press revealed. In order to mint the gold-backed currency, however, authorities would need to first regulate crypto assets, a lawmaker…

Bitcoin holds $20K while flirting with a neutral futures premium for the first time in 6 months

[Jan 17, 2023 1:45 PM] Global and U.S. economic data and a few BTC derivatives-related metrics could determine whether Bitcoin retests the $20,000 level in the short-term.

Iran and Russia want to issue new stablecoin backed by gold

[Jan 16, 2023 5:11 AM] The potential stablecoin aims to enable cross-border transactions instead of fiat currencies like U.S. dollar, the Russian ruble or the Iranian rial.

Nigeria revisits its payments landscape amid sluggish eNaira adoption

[Jan 12, 2023 4:30 AM] The Nigerian central bank has outlined key focus areas for its national payments system in a two-year roadmap leading up to 2025.

City of London, British trade groups form new digital currency advocacy alliance

[Jan 11, 2023 1:45 PM] The UK capital’s governing body is partnering with the Digital Pound Association and other trade groups to promote good crypto policy and practice and the UK’s position as a global financial center.

Tron’s USDD Stablecoin Experiences Fluctuations Again, Drops Below $1 Parity in Early 2023

[Jan 10, 2023 6:30 PM] The Tron-based stablecoin USDD fell below $1 parity again during the first week of 2023 and on Jan. 10. Four days ago, the stablecoin dropped to $0.972 per unit and on Tuesday, Jan. 10, 2023, USDD slipped to $0.977 per unit. At the time of writing…

Albright Capital drops lawsuit against Terraform Labs and Do Kwon

[Jan 10, 2023 3:55 PM] Terraform Labs is the founder of US Dollar Terra (UST), an algorithmic stablecoin that lost its peg in May 2022.

Binance pushes back against report stablecoin isn’t fully backed

[Jan 10, 2023 3:49 PM] The crypto exchange said there was a "timing mismatch in backing Binance-Peg BUSD with BUSD" seemingly showing data in which the stablecoin was not fully backed at times.

Cosmos EUR stablecoin project to unwind after 2 years

[Jan 10, 2023 10:15 AM] “The lack of real-world applications for blockchain has led to low demand for non-USD stablecoins,” e-Money wrote.

Nigeria to create the stablecoins and ICOs legal framework

[Jan 10, 2023 5:11 AM] The necessity to create a legal framework for stablecoins is marked in the latest Central Bank of Nigeria strategy paper.

BUSD Sees $5 Billion Reduction in Supply in 24 Days, Relationship With Turkish Lira Continues

[Jan 6, 2023 9:00 AM] According to statistics, the stablecoin BUSD saw a significant drop in its supply over the past 30 days, shedding roughly 23.8% from Dec. 5, 2022, to Jan. 6, 2023. Since Dec. 13, 2022, BUSD’s supply has been reduced by more than $5 billion…

USDD Stablecoin Faces Possible Collapse Amid Huobi Insolvency Rumors

[Jan 6, 2023 5:00 AM] The bear market deepens as negative news and FUD keep popping up. The latest on the list of fear-causing information is Justin Sun’s USDD stablecoin and popular crypto exchange Huobi.  Mike Alfred, an investor serving as a board member of BTC miner…

Hong Kong lawmaker wants to turn CBDC into stablecoin featuring DeFi

[Jan 5, 2023 5:16 AM] A Hong Kong official believes that a government-backed stablecoin would serve as a better entry point to Web3 compared to private stablecoins.

Judge rules Celsius owns funds in Earn accounts, paving the way for stablecoin sale

[Jan 4, 2023 3:45 PM] Judge Martin Glenn found the terms of use for the Earn program “unambiguous,” and besides that, treating account holders as unsecured creditors was more equitable.

What is USD Coin (USDC), fiat-backed stablecoin explained

[Dec 30, 2022 8:56 AM] USDC is a U.S. dollar-backed stablecoin issued by Circle and Coinbase to combat the price swings of the highly volatile cryptocurrency market.

Vader will shut down stablecoin USDV, cannot find a ‘breakthrough’

[Dec 29, 2022 4:00 PM] The remaining treasury will be distributed to users through a redemption app until June, according to the protocol.

Bank of India report calls for regulatory coordination on crypto market challenges

[Dec 29, 2022 1:45 PM] The RBI’s latest financial stability report accentuated the negative about cryptocurrency and reminds the world that India is looking for global action on crypto regulation.

The Stablecoin Economy Shed $28 Billion in 2022 After a Handful of Tokens Lost Their $1 Peg

[Dec 28, 2022 9:30 AM] 2022 has been an interesting year for stablecoin assets as the market capitalization of the entire stablecoin economy lost just over $28 billion in value. Moreover, more than $3 billion has been erased from the stablecoin economy during the last 23…

Japan to lift the ban on foreign stablecoins like USDT in 2023: Report

[Dec 26, 2022 5:25 AM] None of the 31 crypto exchanges registered with Japan's Financial Services Agency are currently offering trading in stablecoins like USDT or USDC.

WAVES Gets Dragged Down By USDN, Despite Pumping Investor Distribution

[Dec 23, 2022 8:03 AM] There is enormous negative sentiment surrounding USDN. And with USDN continuously falling off its track, it’s also pulling WAVES down. WAVES is the native token of the Waves blockchain. According to CoinMarketCap, the token is up by 0.23% or…

Stablecoin settlements can surpass all major card networks in 2023: Data

[Dec 22, 2022 4:44 AM] While on-chain stablecoins settlements are growing rapidly, many people pointed out that comparing stablecoin settlements to Visa transactions is not fair as they represent two different things.

US senator Toomey introduces stablecoin bill as congressional session wraps up

[Dec 21, 2022 11:40 PM] The soon-to-retire senator introduced the new stablecoin bill only a few weeks before the end of the 117th US congressional session.

Waves founder announces new stablecoin as USDN depegs

[Dec 20, 2022 8:17 AM] Days after USDN lost its peg with USD, Waves CEO and founder Sasha Ivanov promised that his new stablecoin will be “undepeggable."

Bank of Canada emphasizes need for stablecoin regulation as legislation is tabled

[Dec 19, 2022 3:56 PM] A note by central bank researchers says regulation is the key to reaping the benefits of fiat-referenced crypto assets after the Canadian parliament fails to consider legislation.

$16K retest the most likely path for Bitcoin, according to 2 derivative metrics

[Dec 19, 2022 3:48 PM] Top traders' long-to-short ratio and stronger demand for stablecoins in Asia indicate higher odds of further price correction.

Central Banks to set standards on banks’ crypto exposure - BIS

[Dec 17, 2022 10:05 AM] The new standard limits crypto reserves among banks to 2% by 2025, and goes into effect on January 1, 2025.

UNHCR Launches Blockchain Payment Solution to Support Ukrainians Displaced by War

[Dec 17, 2022 1:30 AM] The United Nations High Commissioner for Refugees (UNHCR) recently said it has launched a blockchain payment solution for digital cash distribution to internally displaced persons (IDPs) in Ukraine. According to the agency, the use of the…

Argentina’s province to issue US dollar-pegged stablecoin

[Dec 16, 2022 4:10 PM] The bill also authorizes local artists to issue nonfungible tokens (NFT) to promote financial and cultural inclusion.

Stablecoin BUSD’s Supply Shrunk by 3.24 Billion in 3 Days, Market Cap Is Down 20% Since Last Month

[Dec 16, 2022 2:30 PM] While billions of dollars in crypto assets have been withdrawn from Binance, the world’s largest exchange in terms of volume, the stablecoin BUSD has seen its coins in circulation drop considerably during the last three days. While 20% of…

Stablecoins Flow Into Spot Exchanges, Fuel For Christmas Bitcoin Rally?

[Dec 16, 2022 2:18 PM] On-chain data shows the number of stablecoin transactions going into spot exchanges have risen recently, something that could help fuel a Christmas Bitcoin rally. Stablecoin Deposits To Spot Exchanges Have Shown Increasing Demand Recently As…