STABLECOIN
A stablecoin (or stable coin), as its name indicates, is a stable cryptocurrency designed to be resistant to the type of price volatility synonymous with cryptocurrencies like Bitcoin and Ether. The key is to understand "stable": what is "stable"? which references are pegged to make its value "stable"? In terms of what we measure the "stability".
Stablecoins Wallet Addresses Records 12m with Holding at Least $1m
According to data from CoinMetrics, the total number of wallet addresses holding at least $1 million has topped 12 million.
Circle Launches Corporate Account to Support USDC Transactions
Circle has launched a new account service that enables corporate customers to deposit, withdraw, receive and store cryptocurrencies through their account and allow them to settle all payments in USDC stablecoins.
Acting OCC Comptroller Urges Regulators to Collaborate with Crypto Intermediaries
Michael J. Hsu, the Acting Comptroller of the Office of the Comptroller of the Currency (OCC) has advocated that regulators should collaborate with major crypto intermediaries in order to get a grasp of how the ecosystem functions.
Hong Kong Resumes Discussion on Stablecoin Regulation, Offering 5 Options to the Public
The Hong Kong Monetary Authority (HKMA) has published a discussion paper in which it is soliciting the public’s contributions to its proposed regulatory approach to digital currencies and stablecoins.
Paypal Confirms Plans to Launch its Platform Specific Stablecoin
American payments giant Paypal Holdings Inc has confirmed it is working on its own digital currency which may take the form of a stablecoin.
FTX Exchange Offers $1M to First bank in Each Region who Accept Stablecoins
FTX exchange announced on Twitter that it will provide the first bank in each region with a bonus of $1 million.
Myanmar's Shadow Political Entity Adopts USDT as its Primary Currency
Myanmar’s shadow political entity, the National Unity Government (NUG), has reportedly adopted the Tether (USDT) stablecoin as its primary currency to bypass the sanction from the military regime.
Japan’s Financial Regulator Proposes New Legislations, Limiting Stablecoin Issuance to Banks
Japan’s FSA is working on a legislation that is set to be introduced next year. The regulations seek to make it only wire transfer companies and banks can issue stablecoins.
Is the Rise of Decentralized Finance an "Illusion"? BIS Thinks so!
The Bank of International Settlements (BIS), has called the growth in the decentralized finance (DeFi) ecosystem an “illusion” with a handful of criticisms.
Republic of Palau Partners with Ripple to develop National Digital Currency Strategy
Ripple has been tapped to help Palau develop a U.S. dollar-backed digital currency, which is seen as a viable alternative to CBDC.
Hindenburg Research Hunts $1M Bounty for Information on Tether's Dollar Reserve
Hindenburg Research is offering a $1 million bounty to anyone that can provide information about Tether’s stablecoin reserves.
Facebook Taps Coinbase to Offer Custody Services for Novi Digital Wallet Rollout
Facebook is launching Novi digital wallet. The social giant has hired Coinbase to serve as a custody partner.
G20-Backed FSB Sets Out Roadmap for Stablecoins and CBDCs, Optimizing Cross-Border Payment System
The FSB, a G20-backed think tank, has cited the duo of government-issued CBDCs and stablecoins as key drivers in the pursuit of better cross-border payments.
Bloomberg’s Damning Report on Tether Receives Response from the Stablecoin Issuer
Where is Tether keeping its stablecoin reserve? A Bloomberg reporter has asked this and many more questions. Tether fires back as the allegations are made.
BNPL Payment Firm Afterpay Urges Senate to Support AUD-backed Stablecoins for Cutting Merchant Cost
The BNPL payment company Afterpay expressed their intention to the Australian Senate to launch the Australian dollar stablecoin soon, saying that crypto will help merchants reduce related payments.