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Stablecoin
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Stablecoin

What is stablecoin? In terms of what we measure the "stability". Understand stablecoin in different features. Central Bank Digital Currency (CBDC)

Bitpay Now Supports Binance's Stablecoin For Global Payments
stablecoin

Bitpay Now Supports Binance's Stablecoin For Global Payments

Binance and Bitpay have partnered to enable consumers and merchants to access Binance stablecoin.

Canadian Dollar Stablecoin QCAD Launched for Mass Market
stablecoin

Canadian Dollar Stablecoin QCAD Launched for Mass Market

Canada Stablecorp Inc. has launched a new regulated Canadian Dollar stablecoin called “QCAD”.

Global Currency Organization Launches New USD Stablecoin USDD
stablecoin

Global Currency Organization Launches New USD Stablecoin USDD

The Global Currency Organization (GCO) has launched a new USDD token, a US dollar-backed stablecoin, intended for revenue sharing in institutions.

Stablecoin Reserves May Be Held in National Banks, US Treasury Office Provides Insight
stablecoin

Stablecoin Reserves May Be Held in National Banks, US Treasury Office Provides Insight

The OCC announced that national banks and federal savings associations could hold reserves for customers with stablecoin assets.

Thai Central Bank Issues Stern Warning about Thai Baht Digital (THT) Stablecoin
stablecoin

Thai Central Bank Issues Stern Warning about Thai Baht Digital (THT) Stablecoin

The Bank of Thailand is warning citizens against using the illegal THT stablecoin.

Tether becomes First Stablecoin to be Integrated into Algorand 2.0 Blockchain
stablecoin

Tether becomes First Stablecoin to be Integrated into Algorand 2.0 Blockchain

Tether, a reputable stablecoin provider, has incorporated its U.S. dollar-backed stablecoin USDT into Algorand’s blockchain ecosystem. Tether’s presence on Algorand will facilitate block confirmation in less than four seconds and transaction fees will be a fraction of a cent.

Ethereum Continues to Grow with the Majority of Stablecoin Projects Leveraging its Network
stablecoin

Ethereum Continues to Grow with the Majority of Stablecoin Projects Leveraging its Network

Ryan Watkins, a researcher at Messari, believes that the numerous stablecoin protocol experiments on the Ethereum network are impressive.

Tether Launches Stablecoin Backed by Offshore Chinese Yuan
stablecoin

Tether Launches Stablecoin Backed by Offshore Chinese Yuan

Reported in late August, Tether had made plans to add a new stablecoin pegged to the Chinese Yuan, named “CNHT.”

Tether Plans to Issue Stablecoin Backed by Chinese Yuan
stablecoin

Tether Plans to Issue Stablecoin Backed by Chinese Yuan

Tether has been reportedly working on a new stablecoin pegged to the Chinese Yuan. The stablecoin project named “CNHT” came from the intention of Zhao Dong, one of the shareholders of the Bitfinex crypto exchange.

US Lawmakers Want STABLE Act to Force Stablecoin Issuers to Secure Bank Charters
stablecoin

US Lawmakers Want STABLE Act to Force Stablecoin Issuers to Secure Bank Charters

US lawmakers have introduced a new bill to Congress seeking to impose federal control over the entire stablecoin industry and would mandate issuers to secure bank charters.

Pickle Finance DeFi Protocol Loses $19.7 Million In DAI Stablecoin in “Massive” Hack
stablecoin

Pickle Finance DeFi Protocol Loses $19.7 Million In DAI Stablecoin in “Massive” Hack

Pickle Finance becomes the latest DeFi Protocol to suffer from hacking, losing almost $20 million in DAI stablecoin.

FSB Releases High-Level Recommendations for Global Stablecoin Regulation
stablecoin

FSB Releases High-Level Recommendations for Global Stablecoin Regulation

The Financial Stability Board (FSB) has published a comprehensive report outlining key recommendations for the regulation, supervision, and oversight of global stablecoin (GSC) arrangements. The report aims to address potential financial stability risks posed by GSCs at both the domestic and international level.

Binance Launches Incentive Campaign for USDC-M Perpetual Contracts
stablecoin

Binance Launches Incentive Campaign for USDC-M Perpetual Contracts

Binance launches a dual-incentive promotional campaign for USDC-margined perpetual contracts, targeting deposits and trading activities to stimulate market engagement and diversify trading options in the crypto futures market.

Circle Denies Receiving 'Wells Notice' Over USDC
stablecoin

Circle Denies Receiving 'Wells Notice' Over USDC

Circle's CSO refused SEC Wells notices for its USDC token.

Paxos Discusses BUSD Stablecoin With SEC Following Wells
stablecoin

Paxos Discusses BUSD Stablecoin With SEC Following Wells

Paxos CEO Charles Cascarilla said the business was "engaged in productive negotiations" with the SEC and will continue to communicate privately.

UK to Accept Stablecoins as Form of Payment, Plans to Mint NFT by this Summer
stablecoin

UK to Accept Stablecoins as Form of Payment, Plans to Mint NFT by this Summer

The UK announced to accept stablecoins as a valid form of payment and has set plans to make Britain a global hub for cryptoasset technology and investment.

Circle CEO Expects Yuan-Backed Stablecoins Despite China's Crypto Ban
stablecoin

Circle CEO Expects Yuan-Backed Stablecoins Despite China's Crypto Ban

According to SCMP, despite the stringent ban on cryptocurrencies in mainland China, Jeremy Allaire, the co-founder and CEO of Circle, a leading operator of the USDC stablecoin, foresees a significant role for yuan-backed stablecoins in the global crypto market.

Russia Plans to Use Digital Rouble In Settlements with China, Says Lawmaker
stablecoin

Russia Plans to Use Digital Rouble In Settlements with China, Says Lawmaker

Russia used to resist legalizing crypto. However, it is now willing to embrace the use of cryptocurrency for cross-border payments due to geopolitical tensions.

Stablecoins Could Threaten Monetary Sovereignty and Financial Stability, Says ECB’s Christine Lagarde
stablecoin

Stablecoins Could Threaten Monetary Sovereignty and Financial Stability, Says ECB’s Christine Lagarde

Christine Lagarde, the president of the European Central Bank (ECB), has highlighted that stablecoins could pose a serious threat to monetary sovereignty and financial stability.

Moneygram Partners with Stellar Blockchain Network to Enable Instant Crypto-To-Fiat Settlements Using USDC Stablecoin
stablecoin

Moneygram Partners with Stellar Blockchain Network to Enable Instant Crypto-To-Fiat Settlements Using USDC Stablecoin

MoneyGram has partnered with Stellar Development Foundation to enable customers to make settlements in different fiat currencies including cryptocurrencies using USDC stablecoin.

Federal Reserve Chair Powell Affirms There Is Ongoing Research for a Digital Dollar
stablecoin

Federal Reserve Chair Powell Affirms There Is Ongoing Research for a Digital Dollar

The Federal Reserve Bank is involved in a large-scale research and development regarding digital dollar, says Chairman Jerome Powell.

Aave Outpaces Market with 9% Growth in Q2 2023, Launches GHO Stablecoin
stablecoin

Aave Outpaces Market with 9% Growth in Q2 2023, Launches GHO Stablecoin

ave's Q2 2023 report shows a 9% growth in total value supplied, outpacing the market. Key developments include the launch of GHO stablecoin, a rise in stETH deposits, and the anticipated release of Portals.

Hong Kong Resumes Discussion on Stablecoin Regulation, Offering 5 Options to the Public
stablecoin

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.

Britain Eyes Becoming a Crypto Hub, Upgrading the Market by Adopting DLT
stablecoin

Britain Eyes Becoming a Crypto Hub, Upgrading the Market by Adopting DLT

In pursuit of becoming a global crypto hub, Britain seeks to revamp the traditional financial market using distributed ledger technology (DLT), according to the finance ministry.

Circle Deploys New Pre-Mint Address for USDC on Solana (SOL)
stablecoin

Circle Deploys New Pre-Mint Address for USDC on Solana (SOL)

Circle has introduced a new pre-mint address for USDC on the Solana blockchain, streamlining operations in anticipation of the Cross-Chain Transfer Protocol launch.

Binance CEO Responds to Forbes Article on Fund Shuffling
stablecoin

Binance CEO Responds to Forbes Article on Fund Shuffling

Binance CEO Changpeng Zhao responded to a Forbes article that focused on the movement of funds by the cryptocurrency exchange. The article drew parallels between Binance and the now-defunct FTX and discussed the failed Voyager bid by Binance.US, as well as the United States Securities and Exchange Commission’s planned legal action against Paxos Trust Company, the issuer of the Binance-branded stablecoin, Binance USD (BUSD). Binance transferred $1.8 billion in stablecoin collateral to hedge funds such as Tron, Amber Group and Alameda Research between August and December 2022. Binance says it still supports BUSD and is now looking into non-USD stablecoins.

USDC Issuer Circle to Launch Euro-Backed Stablecoin
stablecoin

USDC Issuer Circle to Launch Euro-Backed Stablecoin

The move by Circle to involve in launching its Euro stablecoin is based on user demand and business competition. The use of euro-backed stablecoins is rising in Europe.

Paxful Crypto Peer-to-Peer Marketplace Expands Beyond Bitcoin with Tether USDT Stablecoin
stablecoin

Paxful Crypto Peer-to-Peer Marketplace Expands Beyond Bitcoin with Tether USDT Stablecoin

Paxful, the leading peer-to-peer Bitcoin trading platform, announced that it will be adding stablecoin Tether to its crypto payment options.

Singapore's MAS Unveils Stablecoin Regulatory Framework
stablecoin

Singapore's MAS Unveils Stablecoin Regulatory Framework

Singapore's MAS releases a regulatory framework for stablecoins after public consultation in 2022. It aims to ensure value stability and sets key requirements for issuers.

Lemonade to Offer Blockchain-Powered Climate Insurance for Farmers in Emerging Markets
stablecoin

Lemonade to Offer Blockchain-Powered Climate Insurance for Farmers in Emerging Markets

American insurance company Lemonade has revealed the formation of Lemonade Crypto Climate Coalition which will offer blockchain-enabled climate insurance to the most vulnerable farmers across the globe.

New BIS Report Advocates Using Embedded Monitoring Trackers For Stablecoins
stablecoin

New BIS Report Advocates Using Embedded Monitoring Trackers For Stablecoins

A new report from the Bank for International Settlements has advocated the deployment of ‘Embedded Systems’ in the monitoring of global stablecoin projects.

Banking Circle Adopts USDC as Currency on its Payment Rails
stablecoin

Banking Circle Adopts USDC as Currency on its Payment Rails

Banking Circle, an European Union (EU) regulated payments bank has announced that it has integrated the USD Coin (USDC) stablecoin into its payment rail

Australia's Novatti Group to Launch Stablecoin on the XRP Ledger
stablecoin

Australia's Novatti Group to Launch Stablecoin on the XRP Ledger

Novatti Group has announced it will be integrating its new stablecoin, AUDC with the XRP Ledger following a partnership with blockchain payments firm, Ripple Labs Inc.

Bitcoin (BTC) and Stablecoins Threaten Emerging Market Currencies, Report Suggests
stablecoin

Bitcoin (BTC) and Stablecoins Threaten Emerging Market Currencies, Report Suggests

Bitcoin and stablecoins are posing a significant threat to weak emerging market currencies, according to CoinShares.

New MiCA Stablecoin Rules to Impact European Crypto Users, Announces Binance
stablecoin

New MiCA Stablecoin Rules to Impact European Crypto Users, Announces Binance

Binance announces significant changes due to new MiCA stablecoin rules in the EEA.

Circle Seeks Collaboration with BIS for Project Agorá
stablecoin

Circle Seeks Collaboration with BIS for Project Agorá

Circle applies to join BIS's Project Agorá, aiming to enhance global financial systems.

Paxos: The Crucial Role of Stablecoins in Transforming DeFi
stablecoin

Paxos: The Crucial Role of Stablecoins in Transforming DeFi

Explore the impact of stablecoins on DeFi and their future prospects.

Ripple (XRP) Completes Acquisition of Standard Custody, Appoints Jack McDonald to Lead Stablecoins
stablecoin

Ripple (XRP) Completes Acquisition of Standard Custody, Appoints Jack McDonald to Lead Stablecoins

Ripple (XRP) finalizes Standard Custody acquisition, appoints Jack McDonald as SVP of Stablecoins, enhancing its financial infrastructure.

US Treasury Department Warns Regulators of Potential Risks of Digital Assets
stablecoin

US Treasury Department Warns Regulators of Potential Risks of Digital Assets

The Financial Stability Oversight Council (FSOC) of the US Treasury Department has released its annual report with a crucial warning of digital assets disruption.

Tether Taps BDO Global for Attestation of Reserve
stablecoin

Tether Taps BDO Global for Attestation of Reserve

Tether Holdings Ltd, the firm known for the issuance of the world’s largest stablecoin, USDT has tapped the Italian branch of Binder Dijker Otte (BDO), the fifth biggest public accounting firm to help in the handling of its assurance and attestation processes

USDC Issuer Circle Secures $400M Funding from Fidelity and BlackRock
stablecoin

USDC Issuer Circle Secures $400M Funding from Fidelity and BlackRock

Circle, the company behind USD Coin (USDC), has bagged funding worth $400 million from different players, including Fidelity Management, BlackRock Inc, and Research LLC, signalling traditional finance interest in the crypto space.

Ripple CEO Garlinghouse Foresees Ether ETF Approval, Critiques SEC's Approach
stablecoin

Ripple CEO Garlinghouse Foresees Ether ETF Approval, Critiques SEC's Approach

Ripple CEO Brad Garlinghouse predicts the approval of an Ether ETF by the SEC, critiquing the commission's approach under Gary Gensler as a political liability and detrimental to the U.S. economy's growth.

MAS Seeks to Ban All Forms of Crypto Credits in Singapore
stablecoin

MAS Seeks to Ban All Forms of Crypto Credits in Singapore

The Monetary Authority of Singapore wants crypto service providers to avoid issuing credits for consumers to trade crypto

Tether CTO: Moving DeFi forward in Asia
stablecoin

Tether CTO: Moving DeFi forward in Asia

Paolo Ardoino, CTO of Tether gives his take on the Decentralized Finance DEFI Ecosystem in Asia standing on the cusp of a global digital banking revolution.

It is not just Liquidity, Huobi on Two Fair Metrics to Rank Crypto Exchanges
stablecoin

It is not just Liquidity, Huobi on Two Fair Metrics to Rank Crypto Exchanges

Ciara Sun, Head of Global Business Development & Partnerships at Huobi Group, has a wealth of experience in financial analysis, strategic consulting and corporate management from her previous roles with prestigious enterprises such as Boston Consulting Group, Deloitte Consulting and Ernst & Young. Sun sat down with Blockchain.News at the Blockshow Asia 2019 to discuss Huobi’s rising profile, China’s decentralized economy and what she considers fair metrics for ranking exchanges.

Iran and Russia Seek A Gold-Backed Stablecoin
stablecoin

Iran and Russia Seek A Gold-Backed Stablecoin

Iran and Russia are planning a gold-backed cryptocurrency. In Astrakhan, Russia began accepting Iranian goods, a stablecoin would function. Instead of utilizing dollars, rubles, or rials, the initiative would allow cross-border transactions.

NY Fed's digital currency Test Reveals Feasibility
stablecoin

NY Fed's digital currency Test Reveals Feasibility

The Innovation Center of the Federal Reserve Bank of New York (NYIC) has successfully completed its proof-of-concept of a regulated liability network (RLN), which was carried out in collaboration with nine significant financial institutions and the Swift network.

Russian Crypto Startup InDeFi to Launch Ruble Stablecoin following DAI Model
stablecoin

Russian Crypto Startup InDeFi to Launch Ruble Stablecoin following DAI Model

The new stablecoin project has no connection with the Bank of Russia’s digital ruble. The stablecoin will be pegged to ruble fiat currency.

Luna Foundation Says Plans to Repay Terra Investors Thwarted by Litigation Woes
stablecoin

Luna Foundation Says Plans to Repay Terra Investors Thwarted by Litigation Woes

The plans to compensate affected Terra users is still far from reality.

Maker’s Dai Stablecoin Could Reach $2 Billion in Market Cap by the End of 2021—Here’s Why
stablecoin

Maker’s Dai Stablecoin Could Reach $2 Billion in Market Cap by the End of 2021—Here’s Why

Messari boldly suggests that after Dai’s market cap surged by 15x this year, due to DeFi, the stablecoin’s market cap could double by the end of next year

Stablecoins Pose Risks to Financial Stability: Yellen
stablecoin

Stablecoins Pose Risks to Financial Stability: Yellen

The instability of the UST stablecoin has pushed the United States Treasury Secretary, Janet Yellen, to advocate for introducing a tighter regulatory framework to govern the entire stablecoin offshoot of the crypto ecosystem.

FTX Continues to Move Funds Amid Ongoing Investigations
stablecoin

FTX Continues to Move Funds Amid Ongoing Investigations

Addresses associated with FTX and its subsidiary, Alameda Research, have reportedly transferred $145 million in stablecoins to various platforms, as the cryptocurrency exchange faces demands to return funds to different groups of investors amid ongoing investigations and lawsuits.

The UK is a step closer to launching a central bank digital currency
stablecoin

The UK is a step closer to launching a central bank digital currency

The Bank of England thinks crypto stablecoins and a central-bank-issued "digital pound" might coexist.

Binance sees surge in withdrawals amid spooked investors
stablecoin

Binance sees surge in withdrawals amid spooked investors

Investors have pulled billions from Binance in the past day due to US Securities and Exchange Commission and New York Department of Financial Services action against BUSD and Paxos.

DeFiChain Becomes One of the First Blockchains to Fully Integrate Euro Coin, a Euro-backed Stablecoin
stablecoin

DeFiChain Becomes One of the First Blockchains to Fully Integrate Euro Coin, a Euro-backed Stablecoin

DeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, has announced the debut of the Euro-backed stablecoin Euro Coin (EUROC) on its native blockchain. DeFiChain is one of the first blockchains to fully integrate a Euro-backed stablecoin.

Bitcoin Takes Black Swan Dive With Markets, Cash Still King as Stablecoin Market Caps Surge
stablecoin

Bitcoin Takes Black Swan Dive With Markets, Cash Still King as Stablecoin Market Caps Surge

The Bitcoin community watched from the edge of their seats as the BTC price briefly sank below to $3,900 before rebounding to between $5,300 and $5,500 in less than 30 minutes this morning.

Facebook Moving Further Away From Libra, But Considering its Own Digital Token System
stablecoin

Facebook Moving Further Away From Libra, But Considering its Own Digital Token System

Facebook is now considering developing a system of digital tokens, pegged to different government-issued currencies including the US dollar and the euro. The new plan will still include Libra, although Libra Association, separately, will continue its work on the stablecoin pegged to a basket of global currencies.

USDC Holders Panic Sell Amid Solvency Concerns
stablecoin

USDC Holders Panic Sell Amid Solvency Concerns

On March 10, concerns about the solvency of USD Coin (USDC) led several holders to panic sell their holdings and switch to other stablecoins. One user lost over 2 million USDC in a failed attempt to exchange them for Tether (USDT) using KyberSwap's decentralized exchange aggregator. Tron founder Justin Sun reportedly withdrew 82 million USDC and exchanged them for Dai (DAI) using Aave v2, while IOSG Ventures sold 118.73 million USDC for 105.67 million USDT and 2,756 Ether (ETH). The USDC price has since slowly recovered, and Circle, the company behind USDC, disclosed holding $3.3 billion at the Silicon Valley Bank.

Terraform Labs Seeks Citadel Securities' Trading Data amid SEC Lawsuit
stablecoin

Terraform Labs Seeks Citadel Securities' Trading Data amid SEC Lawsuit

Terraform Labs has filed a motion against Citadel Securities seeking critical trading data for its defense in a lawsuit by the SEC. The case revolves around market destabilization allegations during the May 2022 Depeg event of TerraUSD stablecoin. The motion urges disclosure of trading strategies between March and May 2022, amidst indications of Citadel Securities' alleged intentions to short UST. Terraform Labs stresses the documents' importance in countering the SEC's fraud allegations, proposing a transfer to another court for a decision if necessary.

Tether Holdings Hires Major Wall Street Firm to Manage Treasury Portfolio
stablecoin

Tether Holdings Hires Major Wall Street Firm to Manage Treasury Portfolio

Tether has recruited a Wall Street company to handle its Treasury holdings.

Visa Developing Interoperable Transfers among CBDC Payments
stablecoin

Visa Developing Interoperable Transfers among CBDC Payments

Visa is rolling out a new interoperability feature facilitating digital currency payments among different parties. Visa aims to establish a bridge payment between digital currencies on the blockchain ecosystem.

BTG Pactual Launches Stablecoin Backed by USD
stablecoin

BTG Pactual Launches Stablecoin Backed by USD

Brazilian investment bank BTG Pactual has launched its own stablecoin, BTG Dol, which is pegged to the value of the US dollar on a 1:1 ratio. The stablecoin will allow customers to "dollarize" a portion of their equity and will facilitate interaction between traditional finance and the digital economy.

Circle Partners with Cross River Bank for USDC Production and Redemption
stablecoin

Circle Partners with Cross River Bank for USDC Production and Redemption

Circle has partnered with Cross River Bank for USDC production and redemption, as well as expanded relationships with other banking partners like BNY Mellon. The USDC stablecoin recently experienced a peg-breaking incident but has since recovered.

US CFTC Holds Meeting on Stablecoins Joined by Paxos, MakerDAO and JPM Coin Executives
stablecoin

US CFTC Holds Meeting on Stablecoins Joined by Paxos, MakerDAO and JPM Coin Executives

The United States Commodity and Futures Trading Commission (CFTC) held a meeting earlier this week to study the potential impact of the stablecoin industry. The derivatives regulator met with stablecoin industry experts to understand its future implications.

Circle Rolls Out Native USDC on the Celo Blockchain, Expanding Stablecoin Access
stablecoin

Circle Rolls Out Native USDC on the Celo Blockchain, Expanding Stablecoin Access

Circle has integrated USDC directly onto the Celo blockchain, enabling faster and cheaper transactions with its native stablecoin. This aligns with Circle and Celo's shared mission of increasing financial access.

Crypto Adoption in Latin America: A Tool Against Economic Woes and Authoritarianism
stablecoin

Crypto Adoption in Latin America: A Tool Against Economic Woes and Authoritarianism

The cryptocurrency landscape in Latin America, particularly in Argentina and Venezuela, is evolving as a mechanism to counter economic and political adversities. While Argentina sees crypto as a bulwark against economic instability, Venezuela is utilizing it as a tool for humanitarian aid and resistance against authoritarianism. The divergent crypto adoption narratives in these nations underscore the asset class's potential to address complex societal challenges.

Acala Network's aUSD Depegged from Dollar Mark after Breach
stablecoin

Acala Network's aUSD Depegged from Dollar Mark after Breach

Acala Network's stablecoin was depegged from the dollar mark on Sunday following a breach. A vote was proposed to pause operations on Acala after it noticed configuration issues regarding the Horizon protocol, which affects its stablecoin aUSD.

Robinhood Lists USDC as First Stablecoin on Trading Platform
stablecoin

Robinhood Lists USDC as First Stablecoin on Trading Platform

Robinhood has adopted the second-largest stablecoin for trading transactions.

UK Finance Ministry Proposes Safety Net Measures against Stalling Stablecoins
stablecoin

UK Finance Ministry Proposes Safety Net Measures against Stalling Stablecoins

The proposals presented by the British finance ministry are aimed to mitigate risks related to stablecoins amid the recent TerraUSD de-pegging fiasco.

Chinese Government to Consider Cross-Border East-Asian Stablecoin for Hong Kong Amid Implementing Controversial National Security Law
stablecoin

Chinese Government to Consider Cross-Border East-Asian Stablecoin for Hong Kong Amid Implementing Controversial National Security Law

Chinese officials to consider a cross-border stablecoin in Hong Kong, to facilitate a cross-border payment network between three Asian countries, and four currencies China, Japan, and South Korea. The world’s second-largest economy is aiming to build Hong Kong into an international financial center in the digital economy era. At China’s annual “Two Sessions,” also known as the National People’s Congress, China’s most important annual political event in Beijing, officials set the decision to impose new national security legislation on Hong Kong.

Circle's USDC Reserve Exposure and Potential Risks
stablecoin

Circle's USDC Reserve Exposure and Potential Risks

Circle's latest audit report reveals that the company's exposure to the US banking system stands at nearly $9 billion, with its reserves held by a number of regulated financial institutions, including SVB, BNY Mellon, and Silvergate. However, recent events such as the shutdown of SVB and Silvergate's decision to shut down its crypto bank arm have raised concerns about potential risks for Circle and its stablecoin USDC.

FSB 2024 Agenda: Strengthening Crypto Regulation and Embracing AI"
stablecoin

FSB 2024 Agenda: Strengthening Crypto Regulation and Embracing AI"

The Financial Stability Board (FSB) has announced its 2024 Work Programme, focusing on crypto regulation, AI, and digital innovation, aiming to enhance global cooperation and stability in finance.

Fed Governor Warns ECB Forum that Libra Risks are Immense
stablecoin

Fed Governor Warns ECB Forum that Libra Risks are Immense

The Governor of the Federal Reserve, Lael Brainard warned a European Central Bank (ECB) forum in Germany, that the risks posed by the potential mainstream adoption of the Facebook proposed stablecoin Libra, are too immense.

Federal Reserve's Bowman Discusses Digital Currency Innovations Amid CBDC Debate
stablecoin

Federal Reserve's Bowman Discusses Digital Currency Innovations Amid CBDC Debate

Federal Reserve Governor Michelle Bowman, in a discussion at Harvard Law School, explored the evolving digital payment landscape, touching on CBDC, stablecoins, and the necessity for a robust regulatory framework. While recognizing the potential of digital assets, she emphasized a cautious approach, underscoring the importance of continued research and international collaboration to navigate the digital transformation responsibly.

Terraform Labs co-founder defends against SEC allegations
stablecoin

Terraform Labs co-founder defends against SEC allegations

Do Kwon, co-founder of Terraform Labs, has defended himself against allegations of fraud from the US Securities and Exchange Commission (SEC). Kwon’s lawyers have requested the dismissal of the lawsuit, claiming that the SEC's allegations are unfounded and that US law prohibits regulators from asserting jurisdiction over the digital assets in question. The lawyers also argued that the SEC failed to prove Kwon’s involvement in the collapse of Terra’s stablecoin, UST.

Cryptocurrency Soars in Q1 2023
stablecoin

Cryptocurrency Soars in Q1 2023

CoinGecko's Q1 2023 Crypto Industry Report shows Bitcoin as the best-performing asset, with a gain of 72.4%. DeFi and NFTs have also surged, while stablecoins saw a drop in market cap due to Binance USD shutdown and USDC depeg. The overall market capitalization reached $1.2 trillion at the end of Q1.

Financial Services Reforms Advance UK Crypto Ambitions
stablecoin

Financial Services Reforms Advance UK Crypto Ambitions

The U.K. Chancellor of the Exchequer, Jeremy Hunt, laid out a number of reforms aiming to "drive growth and competitiveness" to the country's financial services sector. The reforms include consulting on proposals for the establishment of a central bank digital currency (CBDC), extending a crypto tax break for investment managers and creating a sandbox that lets firms and regulators test new technologies.

DeFi Reaches $12 Billion in Total Value Locked as Ethereum Transacts 2X More Than Bitcoin Daily
stablecoin

DeFi Reaches $12 Billion in Total Value Locked as Ethereum Transacts 2X More Than Bitcoin Daily

The growth of the DeFi industry has led to an explosive increase in popularity in Ethereum-compatible stablecoins.

Bloomberg’s Damning Report on Tether Receives Response from the Stablecoin Issuer
stablecoin

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.

Breaking: Visa Expands Stablecoin Settlement On Solana
stablecoin

Breaking: Visa Expands Stablecoin Settlement On Solana

Visa has expanded its stablecoin settlement capabilities, incorporating the Solana blockchain and initiating pilot programs with merchant acquirers Worldpay and Nuvei. The move aims to modernize cross-border money movement by leveraging stablecoins like Circle's USDC. Visa has conducted live pilots, transferring millions of USDC between partners over Solana and Ethereum blockchain networks to settle fiat-denominated payments authorized via VisaNet. The new settlement options enable Visa to send funds on-chain to acquirers like Worldpay and Nuvei, serving various sectors.

Financial Stability Board Finalizes Global Crypto Asset Regulatory Framework
stablecoin

Financial Stability Board Finalizes Global Crypto Asset Regulatory Framework

FSB finalizes a global regulatory framework for crypto assets, aiming for consistent regulation. The framework includes high-level recommendations for crypto-asset activities and stablecoins.

Dai Stablecoin Reaches 100 Million in Debt Ceiling – An All-Time-High
stablecoin

Dai Stablecoin Reaches 100 Million in Debt Ceiling – An All-Time-High

The Dai (DAI) stablecoin reached the protocol’s built-in debt ceiling of 100 million as there has been 100 million Dai tokens minted. The nearly two-year-old stablecoin project had an original debt ceiling of 50 million, which was raised to 100 million in July 2018.

Binance-Backed WazirX Exchange to Delist USDC, USDP & TUSD
stablecoin

Binance-Backed WazirX Exchange to Delist USDC, USDP & TUSD

Indian crypto platform WazirX has announced it will be delisting USD Coin (USDC), USDP, and TUSD in a move that is similar to its so-called parent company, Binance Exchange.

Terraform Labs Co-Founder Indicted for Terra Stablecoin Collapse
stablecoin

Terraform Labs Co-Founder Indicted for Terra Stablecoin Collapse

Shin Hyun-seong, co-founder of Terraform Labs, has been indicted along with nine other individuals for the collapse of the Terra stablecoin ecosystem. They are accused of fraud, breach of trust, and embezzlement, with illicit profits of nearly $350 million suspected. Prosecutors have seized assets worth a total of $180 million.

Tether Criticizes UN Report for Overlooking USDT Traceability and Law Enforcement Collaboration
stablecoin

Tether Criticizes UN Report for Overlooking USDT Traceability and Law Enforcement Collaboration

Tether rebuts a UN report accusing USDT of facilitating illicit activities, underscoring its traceability and law enforcement collaboration, and highlighting USDT's positive impact on developing economies.

Meta to Shut Down Novi Crypto Wallet in September
stablecoin

Meta to Shut Down Novi Crypto Wallet in September

Although Meta Inc said it will end the Novi digital Wallet, the firm plans to continue executing its existing fintech goals to boost greater financial inclusion as it looks ahead to the metaverse.

Stablecoin On-Chain Activity at Record Highs but Will Crypto Market Inflation Follow?
stablecoin

Stablecoin On-Chain Activity at Record Highs but Will Crypto Market Inflation Follow?

On-chain activity for stablecoins has surged over the last year, increasing by 800% according to the latest market intelligence, but could the increase in stablecoin issuance create inflation in the cryptocurrency markets as past allegations against Tether and Bitfinex have suggest ?

Tether Ventures into Sustainable Energy Production and Bitcoin Mining in Renewable-Rich Uruguay
stablecoin

Tether Ventures into Sustainable Energy Production and Bitcoin Mining in Renewable-Rich Uruguay

Tether, the company renowned for powering the world's foremost stablecoin, announced today its ambitious venture into energy production and sustainable Bitcoin mining in Uruguay.

UK Treasury Drafting Private Stablecoin Regulations and Researching CBDC with BoE
stablecoin

UK Treasury Drafting Private Stablecoin Regulations and Researching CBDC with BoE

The United Kingdom’s Treasury Department has announced it is drafting private stablecoin regulation while it continues central bank digital currency (CBDC) research.

European Central Bank Plans to Take the Lead on Stablecoins
stablecoin

European Central Bank Plans to Take the Lead on Stablecoins

European Central Bank President Christine Lagarde has urged the ECB to take the lead regarding stablecoins, citing increased interests in the space from central banks in Britain, Canada, and China.

Privately Issued, Regulated Digital Crypto Might Better than CBDC, Says Australian Central Bank
stablecoin

Privately Issued, Regulated Digital Crypto Might Better than CBDC, Says Australian Central Bank

Australian central bank boss admits that private digital tokens could be better and their benefits will be enhanced if regulatory arrangements are made right.

New Money Theory in Action: Circle's USDC Stablecoin
stablecoin

New Money Theory in Action: Circle's USDC Stablecoin

Circle is gearing up for 2020 with a renewed deep focus on stablecoins and the powerful potential they hold for people, enterprises, and governments globally.

HKMA Initiates Stablecoin Issuer Sandbox Program
stablecoin

HKMA Initiates Stablecoin Issuer Sandbox Program

The HKMA has announced the launch of a stablecoin issuer sandbox, a step forward for fintech innovation in Hong Kong, aligning with regulatory oversight.

US Senators Introduce Bipartisan Stablecoin Bill to Establish Regulatory Framework
stablecoin

US Senators Introduce Bipartisan Stablecoin Bill to Establish Regulatory Framework

Senators Kirsten Gillibrand and Cynthia Lummis have introduced the Lummis-Gillibrand Payment Stablecoin Act, a new bipartisan legislation aimed at creating a clear regulatory framework for payment stablecoins. The bill aims to protect consumers, promote innovation, and maintain the dominance of the US dollar while addressing concerns related to money laundering and illicit finance.

Singapore's MAS to Open Public Consultation on Stablecoins Soon
stablecoin

Singapore's MAS to Open Public Consultation on Stablecoins Soon

Singapore’s apex bank, the Monetary Authority of Singapore (MAS), is ramping up plans to open up discussions with the public for stablecoin regulations.

Japan to Adopt New Stablecoin Regulations
stablecoin

Japan to Adopt New Stablecoin Regulations

Japan's Financial Services Agency (FSA) is trying to legalise stablecoin distribution. New 2023 legislation enable stablecoins like Tether (USDT) and USD Coin (USDC).

MakerDAO Keeps USDC as Primary Collateral for Dai
stablecoin

MakerDAO Keeps USDC as Primary Collateral for Dai

MakerDAO has voted to keep USDC as the primary collateral for Dai, rejecting a proposal to diversify into GUSD and USDP. The decision was made based on reduced risks from a cascading bank run in the US and USDC's return to a $1 peg.

Facebook Taps Coinbase to Offer Custody Services for Novi Digital Wallet Rollout
stablecoin

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.

Stablecoins Could Bolster U.S. Dollar and Economic Competitiveness: Circle CEO
stablecoin

Stablecoins Could Bolster U.S. Dollar and Economic Competitiveness: Circle CEO

In a compelling testimony delivered to the House Financial Services Committee, Jeremy Allaire, CEO and Co-Founder of Circle, underlined the significant role stablecoins, such as the U.S. Dollar Coin (USDC), could play in strengthening the global position of the U.S. dollar.

Poundtoken and BitcoinPoint will make the country's first 100% backed GBP stablecoin
stablecoin

Poundtoken and BitcoinPoint will make the country's first 100% backed GBP stablecoin

Two UK firms employ ATM stablecoins to make Britain a "crypto centre."

Dismissal of Lawsuit Against Tether and Bitfinex Affirmed, Plaintiff Drops Appeal
stablecoin

Dismissal of Lawsuit Against Tether and Bitfinex Affirmed, Plaintiff Drops Appeal

Tether and Bitfinex have won a lawsuit against Shawn Dolifka and Matthew Anderson, despite allegations of misleading statements about USDT reserves, underscoring the importance of transparency in the cryptocurrency sector.

US Draft Bill Proposes Framework for Stablecoins
stablecoin

US Draft Bill Proposes Framework for Stablecoins

A new draft bill has been published in the United States proposing a regulatory framework for stablecoins. The bill would put the Federal Reserve in charge of non-bank stablecoin issuers, such as Tether and Circle. Insured depository institutions seeking to issue stablecoins would fall under federal banking agency supervision. The bill also includes a ban on issuing stablecoins not backed by tangible assets and proposes a study on "endogenously collateralized stablecoins."

Do Kwon Suggests Terra Hard Fork to Revive Troubled Network
stablecoin

Do Kwon Suggests Terra Hard Fork to Revive Troubled Network

Do Kwon, the CEO of Terraform Labs, believes hard forking the Terra blockchain will play an instrumental role in saving the troubled network.

Paxos Trust Company Disagrees With U.S. Securities
stablecoin

Paxos Trust Company Disagrees With U.S. Securities

Paxos, a stablecoin issuer, received an SEC Wells notice earlier this month and "categorically denies" that BUSD is a securities.

Russia Collaborates With Other Countries to Setup Stablecoin Cross-border Clearing Platform
stablecoin

Russia Collaborates With Other Countries to Setup Stablecoin Cross-border Clearing Platform

Russia is already working with several countries to establish clearing platforms for cross-border settlements of stablecoins, according to the state-backed TASS news agency.

BTSE Becomes 1st Exchange to Offer Perpetual Futures Trading for Overcollateralized Stablecoin
stablecoin

BTSE Becomes 1st Exchange to Offer Perpetual Futures Trading for Overcollateralized Stablecoin

Crypto exchange BTSE has become the first to offer perpetual futures trading for the world's newest stablecoin- US Decentralized (USDD).

Citizens Trust Bank Holds $65 Million in USD Coin reserves
stablecoin

Citizens Trust Bank Holds $65 Million in USD Coin reserves

Citizens Trust stated the USDC reserves would support financial literacy and small business funding.

Argentina Fighter Guido Cannetti Accepts Salary in Stablecoin
stablecoin

Argentina Fighter Guido Cannetti Accepts Salary in Stablecoin

Argentina athlete Guido Cannetti of the world's leading mixed martial arts competition Ultimate Fighting Championship (UFC) announced that his salary will be paid in full in stablecoin USDC.

FinTech Association of Hong Kong Supports HKMA's Risk-Based Approach to Regulate Stablecoins
stablecoin

FinTech Association of Hong Kong Supports HKMA's Risk-Based Approach to Regulate Stablecoins

The FinTech Association of Hong Kong said that it is in principle supportive of the Hong Kong Monetary Authority's January discussion paper on crypto assets and stablecoins.

Banks increase risks to stablecoins
stablecoin

Banks increase risks to stablecoins

The death of the Terra ecosystem triggered a bear market in 2022, causing losses in billions, affecting investor sentiment, and intensifying the regulatory spotlight over cryptocurrencies. Recently, Circle's disclosure that Silicon Valley Bank (SVB) did not process its $3.3 billion withdrawal request led to the depegging of its USD Coin (USDC). This event caused Binance CEO CZ to believe that traditional banks are a risk to stablecoins that are usually pegged 1:1 with fiat currencies, like the U.S. dollar.

Tether Implements Wallet-Freezing Policy Aligned with US Regulations
stablecoin

Tether Implements Wallet-Freezing Policy Aligned with US Regulations

Tether's wallet-freezing policy, in line with US OFAC regulations, is a proactive approach to cybercrime, setting a new standard in the crypto industry.

Mauritius Jumps on Digital Currency Bandwagon
stablecoin

Mauritius Jumps on Digital Currency Bandwagon

The issuance of Central Bank Digital Currency (CBDC) has been making airwaves with nations, such as China, leading the hype. The Bank of Mauritius, the central bank of the Republic of Mauritius, seeks to join this bandwagon based on an announcement that it wants to introduce a digital currency.

Circle CEO Criticizes SEC Stablecoin regulations
stablecoin

Circle CEO Criticizes SEC Stablecoin regulations

As payment systems, stablecoins are not securities, according to Circle's CEO.

Stablecoins Wallet Addresses Records 12m with Holding at Least $1m
stablecoin

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.

5 Ways The Crypto Market Has Changed In 2020
stablecoin

5 Ways The Crypto Market Has Changed In 2020

The cryptocurrency market is constantly evolving. Among new investment methods, new technologies, and new cryptocurrencies altogether, these are some of the most prominent developments in 2020.

Tron Blockchain Launches USDD Decentralized Stablecoin by Tron DAO Reserve
stablecoin

Tron Blockchain Launches USDD Decentralized Stablecoin by Tron DAO Reserve

Justin Sun, the founder of the Tron blockchain network, said that he has launched a USDD decentralized stablecoin pegged to the US dollar at a ratio of 1:1 through the Tron DAO Reserve.

Yearn.finance Takes Pickle Finance Protocol Onboard to Enhance DeFi Rewards
stablecoin

Yearn.finance Takes Pickle Finance Protocol Onboard to Enhance DeFi Rewards

Leading DeFi protocol Yearn.finance has absorbed Pickle Finance to create a structure that will leverage shared expertise, boost specialization, and minimize work duplication.

Circle's Stablecoin USDC Affected by Collapsed Bank
stablecoin

Circle's Stablecoin USDC Affected by Collapsed Bank

Circle's USDC stablecoin briefly de-pegged after news that $3.3 billion of its cash reserves were stuck with collapsed bank Silicon Valley Bank. USDC's dollar peg has since recovered, but mass redemptions have led to a drop in the stablecoin's market cap by nearly 10% since March 11.

US House Committee to Discuss Stablecoin Regulation
stablecoin

US House Committee to Discuss Stablecoin Regulation

The US House of Representatives Committee on Financial Services will conduct a hearing on stablecoin regulation on April 19th, following the introduction of a draft bill on stablecoin regulation. The hearing will include testimonies from experts, including Austin Campbell, a managing partner at Zero Knowledge Consulting and adjunct professor at Columbia Business School, who believes stablecoins will expand the reach of the US dollar and increase financial inclusion.

Cryptocurrency Community Debates Fallout from Closure of Major American Banks
stablecoin

Cryptocurrency Community Debates Fallout from Closure of Major American Banks

The closure of three major American banks that serve cryptocurrency firms, including Silicon Valley Bank and Signature Bank, has sparked debate within the cryptocurrency community. The closure of Silicon Valley Bank, which held over $3.3 billion of USD Coin issuer Circle's $40 billion reserves, has caused particular concern. As a result, the cryptocurrency ecosystem is now exploring neobank services and other options to bridge the gaps exposed by the latest mainstream banking failure.

Paxos Identifies Key Opportunities During Crypto Winter
stablecoin

Paxos Identifies Key Opportunities During Crypto Winter

Blockchain infrastructure provider Paxos has published a report identifying opportunities for crypto projects during the current market conditions, including seeking solutions and partnerships. The report highlights the usefulness of stablecoins while acknowledging the need for greater transparency. Partnerships with businesses addressing real-world needs were also deemed important. The CEO of the Stellar Development Foundation suggested that regulating stablecoins may be necessary to maintain a strong dollar, while a recent Bank of International Settlements report deemed stablecoins a less preferable form of tokenized money.

Circle's New APIs Simplify Complex Crypto Concepts For Mass Institutional Adoption
stablecoin

Circle's New APIs Simplify Complex Crypto Concepts For Mass Institutional Adoption

Circle Builds Layers of Simplicity over Complex Crypto Concepts for Business to Trigger Digital Adoption

Bank of England is for Stablecoin and CBDC, but Says ‘Bitcoin Has No Connection at All to Money’
stablecoin

Bank of England is for Stablecoin and CBDC, but Says ‘Bitcoin Has No Connection at All to Money’

The governor of the Bank of England, Andrew Bailey, shared his views on Bitcoin and said that the cryptocurrency “had no connection at all to money.”

Paxos’ Blockchain Settlement Platform Goes Live with Settling Credit Suisse and Instinet Trades
stablecoin

Paxos’ Blockchain Settlement Platform Goes Live with Settling Credit Suisse and Instinet Trades

New York-regulated stablecoin issuer, Paxos, launched its blockchain-based settlement platform, after announcing the service in late 2019. The new service enables settlement of US-listed equity trades between broker-dealers Swiss financial services firm Credit Suisse and Nomura Group-backed Instinet.

Republic of Palau Partners with Ripple to develop National Digital Currency Strategy
stablecoin

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.

Equilibrium and Chainlink to Power Synthetic Assets and Stablecoins on Polkadot
stablecoin

Equilibrium and Chainlink to Power Synthetic Assets and Stablecoins on Polkadot

Equilibrium has chosen Chainlink, a tokenized oracle network, to power synthetic assets, lending, and stablecoins using its smart contracts.

IMF to Play a Crucial Role in Monitoring Digital Money Evolution
stablecoin

IMF to Play a Crucial Role in Monitoring Digital Money Evolution

The IMF is set to play a crucial role in monitoring the advancement of digital currencies.

Here is Why Tether Blacklisted Five TRON Addresses
stablecoin

Here is Why Tether Blacklisted Five TRON Addresses

Tether has blacklisted five new addresses on the TRON blockchain, highlighting its efforts to maintain network integrity and security. The largest address lost over $1.2 million USDT, aiding law enforcement and users in recovering stolen funds.

Japanese Lawmakers to Introduce New Bill, Empowering Crypto Seizure
stablecoin

Japanese Lawmakers to Introduce New Bill, Empowering Crypto Seizure

In a bid to strengthen its regulatory landscape, Japanese lawmakers are reportedly looking forward to amending the Act on Punishment of Organized Crimes and Control of Proceeds of Crime (1999)

FIS Worldpay Partners with Circle for Merchant Payment Settlements in USDC Stablecoin
stablecoin

FIS Worldpay Partners with Circle for Merchant Payment Settlements in USDC Stablecoin

By partnering with Circle, Worldpay will enable merchants to have the ability to receive settlement directly in USDC stablecoin.

Ex-Chief Executive of the HKMA Establishes Digital Wallet Firm to Solve Issues in Cross-Border Trade Finance
stablecoin

Ex-Chief Executive of the HKMA Establishes Digital Wallet Firm to Solve Issues in Cross-Border Trade Finance

The former Chief Executive of the Hong Kong Monetary Authority (HKMA) has established a new digital wallet company, RD Wallet Technologies Limited.

Facebook Diem Project to Launch USD Stablecoin after Dropping Swiss License Application Plan
stablecoin

Facebook Diem Project to Launch USD Stablecoin after Dropping Swiss License Application Plan

Diem Association is planning to move its main operations from Switzerland to the United States.

Circle Inks Strategy Partnership with Bancorp for USDC Custody
stablecoin

Circle Inks Strategy Partnership with Bancorp for USDC Custody

Circle Internet Financials LLC, the blockchain company responsible for the issuance of the USDC stablecoin, has announced its latest partnership with New York Community Bank (NYCB).

Switzerland’s Sygnum Crypto Bank Launches Swiss Franc-Backed Stablecoin to Facilitate Trading of Financial Assets
stablecoin

Switzerland’s Sygnum Crypto Bank Launches Swiss Franc-Backed Stablecoin to Facilitate Trading of Financial Assets

Sygnum, a Swiss-based crypto bank, has launched a fiat-based stable coin, DCHF token, tied to the Swiss Franc, in an effort to increase transaction efficiency by enabling faster payment when trading financial assets.

Will Terra’s UST and LUNA Crash Cause a Shift to ‘Cryptos that have Stood the Test of Time’?
stablecoin

Will Terra’s UST and LUNA Crash Cause a Shift to ‘Cryptos that have Stood the Test of Time’?

LUNA has left crypto enthusiasts' mouths agape because they could never imagine in their wildest dreams that one of the top ten cryptocurrencies could collapse to near-zero overnight.

HKUST Vice-President Urges Hong Kong to Issue Stablecoin HKDG
stablecoin

HKUST Vice-President Urges Hong Kong to Issue Stablecoin HKDG

According to TKWW, key figures including HKUST Vice-President suggest that the Hong Kong government should issue its own stablecoin, referred to as HKDG, as a strategic move to bolster the city's digital economy.

Platypus Launches Native Stablecoin USP
stablecoin

Platypus Launches Native Stablecoin USP

Platypus Finance is launching USP, a protocol-native stablecoin. USP’s deployment has emerged from Platypus’ goal of improving capital efficiency for its users. USP also resolves long-running collateral issues associated with stablecoins. The native Platypus Finance stablecoin has been designed to reduce the liquidity fragmentation and scattered assets that are endemic to many protocols.

Bermuda Remains Committed to Crypto Despite FTX Collapse
stablecoin

Bermuda Remains Committed to Crypto Despite FTX Collapse

Bermuda's Premier and Finance Minister, Edward Burt, stated that despite the collapse of crypto exchange FTX in nearby Bahamas, Bermuda will continue to accommodate digital asset and blockchain technology companies due to the benefits they offer. The territory, which implemented a regulatory framework for digital assets, recently released its first stablecoin powered by the Polygon blockchain.

Canada's Federal Government Begins Consultations on Digital Currency
stablecoin

Canada's Federal Government Begins Consultations on Digital Currency

The federal government of Canada announced in a budget address that it has started discussions on cryptocurrencies, stablecoins and central bank digital currencies.

Tether Denies Receiving Any Loans From Celsius
stablecoin

Tether Denies Receiving Any Loans From Celsius

Tether's chief technical officer Paolo Ardoino denied borrowing from Celsius in response to Celsius' examiner report.

Celsius Files for Permission to Sell Its Stablecoin Holdings
stablecoin

Celsius Files for Permission to Sell Its Stablecoin Holdings

Celsius is seeking to generate liquidity through sales from its $23 million in stablecoin holdings.

IMF Chief Warns of Terra Crash, Calls it as Pyramid Scheme
stablecoin

IMF Chief Warns of Terra Crash, Calls it as Pyramid Scheme

In response to the recent crash of the LUNA collapse, the International Monetary Fund (IMF) Managing Director Kristalina Georgieva questioned the risk of stablecoins, calling it a ‘Pyramid’ scheme.

Myanmar's Shadow Political Entity Adopts USDT as its Primary Currency
stablecoin

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.

OCC Head Brian Brooks Testifies Before Senate On Cryptocurrency and Stablecoins
stablecoin

OCC Head Brian Brooks Testifies Before Senate On Cryptocurrency and Stablecoins

The OCC Boss, Brian Brooks has testified before the US Senate Banking Committee about the growing use of cryptocurrencies and stablecoins in the country

CBN Approves Africa Stablecoin Consortium's cNGN for Regulatory Sandbox Pilot
stablecoin

CBN Approves Africa Stablecoin Consortium's cNGN for Regulatory Sandbox Pilot

CBN approves ASC's cNGN stablecoin, a regulated digital currency pegged to the Naira, launching on Feb 27, 2024.

Digital Currency Growth Brings "Opportunities and Challenges": IMF
stablecoin

Digital Currency Growth Brings "Opportunities and Challenges": IMF

A recent report by the IMF says the current evolution in the crypto ecosystem presents both opportunities and challenges for the broader financial ecosystem

MakerDAO May Onboard USDC as DAI Collateral Support to Combat Mounting Liquidity Risk
stablecoin

MakerDAO May Onboard USDC as DAI Collateral Support to Combat Mounting Liquidity Risk

The share plunge of the cryptocurrency market has severely hit MakerDAO, the leader in the decentralized finance (DeFi) ecosystem. Last week its market value fell sharply from 889M to $246M which brought together Maker’s developer community who have recently discussed adding support for Circle’s USDC as collateral to hedge against the liquidity risk.

TrueUSD Depegging Linked to Binance Launchpool Activities
stablecoin

TrueUSD Depegging Linked to Binance Launchpool Activities

TrueUSD (TUSD) depegged below its $1 parity, dropping to $0.97, amid significant selling on Binance and issues with real-time reserve attestations. The depegging was linked to activities on Binance Launchpool and raises questions about stablecoin stability and transparency.

FTX Shares 10-Point Regulatory Proposals to American Congress
stablecoin

FTX Shares 10-Point Regulatory Proposals to American Congress

Cryptocurrency trading platform FTX Derivatives Exchange has published a 10-point regulatory proposal, aims at helping American regulators to provide better regulatory oversight of the broader cryptocurrency ecosystem.

DeFi Platform Raft Compromised, Loses $3.3 Million in Ether
stablecoin

DeFi Platform Raft Compromised, Loses $3.3 Million in Ether

Raft DeFi platform hacked, loses $3.3M in ETH. Attacker burns most stolen ETH, faces net loss.

Libra Faces Competition as Celo Foundation Hands Out First Grants Expanding the Use of its Platform
stablecoin

Libra Faces Competition as Celo Foundation Hands Out First Grants Expanding the Use of its Platform

Libra has been facing some competition as the Celo Foundation has awarded its first grants of $700,000 in total to 13 projects that expand the use of its platform.

US Secret Service Seizes Over $102m in Digital Currencies among Crypto Crimes
stablecoin

US Secret Service Seizes Over $102m in Digital Currencies among Crypto Crimes

The United States Secret Service has notably confiscated as much as $102 million worth of crypto assets in its investigation of the activities of cybercriminals.

Paxos—Regulated and Rising above Trustless Tether and Lost Libra
stablecoin

Paxos—Regulated and Rising above Trustless Tether and Lost Libra

In this second part of our interview with Cascarilla, he explains why the PAX stablecoin is ultimately superior to Tether and gives his thoughts on Facebook’s Libra project and the nature of money.

Depegging of USDC and DAI Saves Borrowers $100 Million
stablecoin

Depegging of USDC and DAI Saves Borrowers $100 Million

The depegging of USD Coin (USDC) and Dai (DAI) from the US dollar resulted in more than $2 billion in loan repayments on decentralized lending protocols Aave and Compound, with borrowers saving a total of over $100 million. USDC and DAI started heading back toward their peg, and repayment activity tapered off in the following days.

BoE's Committee Recommends Taking a Closer Look on Crypto Regulation
stablecoin

BoE's Committee Recommends Taking a Closer Look on Crypto Regulation

In its latest Financial Stability Report, the Financial Planning Committee (FPC), an offshoot of the Bank of England has recommended pushing for an ‘enhanced’ regulatory framework.

UK Extends Stablecoin Regulation Consultation Period, Seeks Inclusive Feedback
stablecoin

UK Extends Stablecoin Regulation Consultation Period, Seeks Inclusive Feedback

The Bank of England and the Financial Conduct Authority have extended the feedback deadline for stablecoin regulation to February 12, aiming for a comprehensive, inclusive regulatory framework.

Bitfinex and Tether's Appeal Rejected by New York Judge
stablecoin

Bitfinex and Tether's Appeal Rejected by New York Judge

Judge Cohen reportedly decided to give a 90-day extension to the case, which will give the New York Attorney General’s office to continue investigating. Judge Cohen also dismissed Bitfinex and Tether’s motion to appeal after the ruling.

Circle Introduces Native USDC on OP Mainnet: What It Means for the Ecosystem
stablecoin

Circle Introduces Native USDC on OP Mainnet: What It Means for the Ecosystem

Circle launches native USDC on OP Mainnet, replacing Ethereum bridged liquidity. Collaborating with Optimism, it will be available on Coinbase's Base, Solana, Ethereum, and Mercado Pago.

Breaking: Key US House Committee Leaders Challenges Federal Reserve on Stablecoin
stablecoin

Breaking: Key US House Committee Leaders Challenges Federal Reserve on Stablecoin

The House Financial Services Committee is concerned about the Federal Reserve Board's recent regulatory actions on payment stablecoins, arguing they could hinder Congress's digital asset framework, impose additional regulatory burdens, and potentially cause financial repercussions.

The third-largest French bank Introduces Euro-Pegged Stablecoin
stablecoin

The third-largest French bank Introduces Euro-Pegged Stablecoin

Société Générale has introduced EUR CoinVertible, a euro-pegged stablecoin, marking a significant shift in the integration of traditional finance with digital assets.

PayPal May Be Considering Launching Its Own Stablecoin
stablecoin

PayPal May Be Considering Launching Its Own Stablecoin

PayPal may be looking to launch its own stablecoins in the future, as it has been reportedly been meeting with stablecoin developers.

MAS Sees Potential in Retail-CBDC for the City-State
stablecoin

MAS Sees Potential in Retail-CBDC for the City-State

Despite its plans to float Project Orchid, the technology infrastructure, and the technical competencies necessary to issue a digital Singapore dollar, the Monetary Authority of Singapore (MAS) is not in a hurry to follow the bandwagon.

Terra-Based Anchor Protocol Hits $12b in Total UST Deposits
stablecoin

Terra-Based Anchor Protocol Hits $12b in Total UST Deposits

Anchor Protocol, a lending and borrowing protocol built atop the Terra blockchain network, its total UST stablecoins deposit has hit 12 billion, a show of the massive embrace it is currently receiving from the Terra ecosystem.

Hindenburg Research Hunts $1M Bounty for Information on Tether's Dollar Reserve
stablecoin

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.

US and UK Regulators to Take Action on Stablecoins after Terra’s Collapse
stablecoin

US and UK Regulators to Take Action on Stablecoins after Terra’s Collapse

Stablecoins plunged below $1 this week. Major regulators have become concerned about such cryptocurrencies.

OKX Receives Virtual-asset License in Dubai, Stablecoins Trading Goes Live on OKC Chain
stablecoin

OKX Receives Virtual-asset License in Dubai, Stablecoins Trading Goes Live on OKC Chain

Cryptocurrency platform OKX gets Virtual-asset License from Dubai's authority. The exchange also launched stablecoins trading options for their investors.

Tether Says No Chinese Commercial Papers Holding on its Reserve
stablecoin

Tether Says No Chinese Commercial Papers Holding on its Reserve

Tether Holdings Ltd, the USDT stablecoin issuer, has once again rebutted growing rumours about the composition of its reserve base. The issuer said they have no Renminbi holdings on its reserve.

EU Plans to Bar Interest Payments on Deposits in Stablecoins
stablecoin

EU Plans to Bar Interest Payments on Deposits in Stablecoins

Patrick Hansen, the head of Strategy at DeFi startup, Unstoppable Finance, said the expected MiCA bill could come as early as this month’s ending.

Regulated Stablecoins Likely to Remain in Use by 2030
stablecoin

Regulated Stablecoins Likely to Remain in Use by 2030

A panel of digital regulatory experts at the World of Web3 (WOW) Summit in Hong Kong discussed the future of regulated stablecoins. The group concluded that regulated stablecoins are likely to remain in use by 2030 and that their growth rate in the market supports this idea. The panelists acknowledged the growth of the crypto industry and emphasized the importance of both centralized and decentralized approaches to digital assets.

Acting OCC Comptroller Urges Regulators to Collaborate with Crypto Intermediaries
stablecoin

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.

UK Treasury Doubles Down on Stablecoin Regulations in New Bill
stablecoin

UK Treasury Doubles Down on Stablecoin Regulations in New Bill

Zahawi presented the Financial Services and Markets Bill to the members of Parliament on Wednesday with a proposal to regulate stablecoins and "digital settlement assets" as a form of payment assets in the UK.

Circle Plans to Increase Workforce by 15-25%
stablecoin

Circle Plans to Increase Workforce by 15-25%

Circle's $42 billion USDC is the second-largest stablecoin behind Tether's USDT.

Australian Senator Proposes Digital Asset Regulation Bill
stablecoin

Australian Senator Proposes Digital Asset Regulation Bill

Senator Andrew Bragg has proposed a Digital Assets (Market Regulation) Bill 2023 to regulate cryptocurrency services in Australia. The bill recommends stablecoin regulations, licensing of exchanges, and custody requirements to protect consumers and promote investment.

Hong Kong Politician Seeks DeFi-Based Stablecoin CBDC
stablecoin

Hong Kong Politician Seeks DeFi-Based Stablecoin CBDC

Hong Kong authorities are currently considering issuing a CBDC as a government-backed stablecoin. Wu Jiezhuang, a Legislative Council member of the Hong Kong Special Administrative Region, thinks converting e-HKD into a stablecoin will mitigate Web3 virtual asset concerns.

Facebook’s Libra Launch Will Be Halted Until Proper Regulations Are Set, According to G7 Draft
stablecoin

Facebook’s Libra Launch Will Be Halted Until Proper Regulations Are Set, According to G7 Draft

A G7 statement showed that the financial leaders of the world’s seven largest economies will oppose the launch of Libra.

Visa New Crypto Initiative
stablecoin

Visa New Crypto Initiative

Visa is developing a new crypto product to promote the adoption of public blockchain networks and stablecoin payments. The company is seeking software engineers with experience in programming, Web3 technologies, and Solidity to build the product.

Bybit Launches Futures Contracts Settled in USDC Stablecoin
stablecoin

Bybit Launches Futures Contracts Settled in USDC Stablecoin

Bybit is one of the major crypto exchanges offering futures trading services globally. The exchange has launched a new trading service that settles options contracts in the stablecoin USDC.

Argentinians Seek Shelter in Stablecoins after Economy Minister Resignation
stablecoin

Argentinians Seek Shelter in Stablecoins after Economy Minister Resignation

Argentinians have taken refuge in stablecoins after the nation’s economy minister Martin Guzman resigned over the weekend attributed to the financial crisis crushing the South American country.

Circle's USDC Reserve Mishap Leads to Massive Sell-off
stablecoin

Circle's USDC Reserve Mishap Leads to Massive Sell-off

Circle's announcement that Silicon Valley Bank failed to transfer $3.3 billion of its USDC reserves led to a significant sell-off, causing the stablecoin to depeg from the U.S. dollar. Investors who tried to cut their losses by exchanging USDC for other stablecoins, such as USDT, faced exorbitant prices.

Crypto Market Consolidation and Key Trends in Q2 2023
stablecoin

Crypto Market Consolidation and Key Trends in Q2 2023

Q2 2023 saw a slight 0.14% increase in the crypto market, with Bitcoin (BTC) and Ethereum (ETH) rising by 6.9% and 6.0% respectively.

G7 Reports Stablecoins Like Libra Threaten Financial Security
stablecoin

G7 Reports Stablecoins Like Libra Threaten Financial Security

According to the BBC, the G7 group of nations has drafted a report outlining nine major risks that digital currencies, such as Facebook’s proposed Libra, pose to the global financial system.

MakerDAO Adds Layer-2 Network StarkNet to Address DAI Transaction Costs
stablecoin

MakerDAO Adds Layer-2 Network StarkNet to Address DAI Transaction Costs

The newly integrated StarkNet, a zero-knowledge proof layer 2 protocol, aims to improve efficiency of DAI stablecoin.

Banks Are Increasingly Starting to Offer Cryptocurrency Services in 2020
stablecoin

Banks Are Increasingly Starting to Offer Cryptocurrency Services in 2020

Banks have increased their interest in cryptocurrencies. Many of them have decided to join the cryptocurrency market, either by offering investments in cryptocurrency or by exploiting the capabilities of blockchain technology, which is already used in various areas with financial services.

Visa CEO Says the Payment Giant Will Add Cryptocurrencies to Its Payments Network
stablecoin

Visa CEO Says the Payment Giant Will Add Cryptocurrencies to Its Payments Network

Visa has come out in support of digital currencies and believes that cryptocurrencies have the potential to improve the value of digital payments and create more accessibility.

U.S. Financial Regulators Warn Crypto Firms to Tighten Stablecoin AML Risk Controls
stablecoin

U.S. Financial Regulators Warn Crypto Firms to Tighten Stablecoin AML Risk Controls

U.S. regulators have issued a strict warning on money laundering risks associated with stablecoins and has warned providers to tighten AML protections and controls.

New Zealand Eyeing the Possibility of Rolling Out a CBDC
stablecoin

New Zealand Eyeing the Possibility of Rolling Out a CBDC

New Zealand is in the race of setting up a central bank digital currency (CBDC) because it sees it as a stepping stone towards attaining an efficient monetary policy tool.

Libra Forms Governing Board Despite Shrinking Membership
stablecoin

Libra Forms Governing Board Despite Shrinking Membership

The Libra Association has reaffirmed its commitment in creating a payments-oriented stablecoin, holding its inaugural meeting yesterday in Geneva, Switzerland.

Marketlend Launches New Stablecoin Against the Australian Dollar for Security Token Purchasing
stablecoin

Marketlend Launches New Stablecoin Against the Australian Dollar for Security Token Purchasing

Marketlend creates a digital currency to be backed by the Australian dollars to create a secondary market for corporate loans prompting a means through which assets can be tokenized over the blockchain.

Montenegrin Prime Minister Dritan Abazovic has announced a pilot digital currency project
stablecoin

Montenegrin Prime Minister Dritan Abazovic has announced a pilot digital currency project

After meeting with Ripple at the World Economic Forum, Montenegrin Prime Minister Dritan Abazovic launched a prototype digital currency initiative.

Tether Tokens (USDt) Community and Utility Pushes Market Cap Over $20 Billion
stablecoin

Tether Tokens (USDt) Community and Utility Pushes Market Cap Over $20 Billion

Tether.to, the blockchain-enabled platform that powers the largest stablecoin by market capitalization, has surpassed US$20 billion, driven purely by community and utility.

USDC on Crypto Exchanges Spike as Tether (USDT) Dominance Falters - What This Means
stablecoin

USDC on Crypto Exchanges Spike as Tether (USDT) Dominance Falters - What This Means

According to an assessment from Glassnode, the amount of stablecoins being deposited on exchanges is an indication that things are turning bullish for Bitcoin.

Circle Launches Circle Research with Perimeter Protocol
stablecoin

Circle Launches Circle Research with Perimeter Protocol

Circle launches 'Circle Research' to further technical innovation in crypto, blockchain, and Web3 through open-source research. The initiative's first contribution, Perimeter Protocol, sets a new standard for building on-chain credit markets. Circle releases the Perimeter white paper and public GitHub Repo to advance open protocol transacting with a focus on credit, catering to a wide range of credit scenarios.

Is USDC’s Value Posed to Surpass that of USDT This Year?
stablecoin

Is USDC’s Value Posed to Surpass that of USDT This Year?

As the stablecoin arena gains steam, the supremacy battle between Tether (USDT) and USD Coin (USDC) continues to rage on.

WEF Proposes Interoperable Stablecoins as Building Blocks for a Sustainable Global Economy
stablecoin

WEF Proposes Interoperable Stablecoins as Building Blocks for a Sustainable Global Economy

Stablecoins and the technology underlying them will be the building blocks of a more sustainable, inclusive and resilient global financial system according to the World Economic Forum (WEF).

TrueUSD Partners with Alchemy Pay to Facilitate Direct Crypto Purchases in 173 Countries
stablecoin

TrueUSD Partners with Alchemy Pay to Facilitate Direct Crypto Purchases in 173 Countries

Alchemy Pay partners with TrueUSD to enable direct crypto purchases via fiat in 173 countries, enhancing accessibility and transparency in the crypto industry.

UAE's YallaMarket Now Accepts Crypto Payments
stablecoin

UAE's YallaMarket Now Accepts Crypto Payments

YallaMarket, a grocery delivery startup in the United Arab Emirates, has announced it has started accepting crypto payments for its services.

Coinsfera Enables Users to Trade USDT in UAE through OTC
stablecoin

Coinsfera Enables Users to Trade USDT in UAE through OTC

Coinsfera, the global OTC digital asset trading platform, announced that it enables users to trade stablecoin USDT in Dubai.

Circle to Introduce Euro Coin and Cross-Chain Transfer Protocol to Solana in Early 2023
stablecoin

Circle to Introduce Euro Coin and Cross-Chain Transfer Protocol to Solana in Early 2023

USD coin issuer and digital financial technology firm, Circle, is now set to expand its Euro Coin and its cross-chain transfer protocol to the Solana ecosystem in the first half of 2023.

House Stablecoin Bill to Seek Two-year Ban on Issuing New Algorithmic Stablecoins
stablecoin

House Stablecoin Bill to Seek Two-year Ban on Issuing New Algorithmic Stablecoins

U.S. House of Representatives is drafting a new bill to impose a two-year ban on issuing new algorithmic stablecoins similar to TerraUSD (UST), according to Bloomberg.

HKMA Stablecoin Regulations to Demand Backing by Underlying Assets
stablecoin

HKMA Stablecoin Regulations to Demand Backing by Underlying Assets

The main financial regulator will require stablecoin issuers to always back their values with reserve assets.

"Buckle Up" For Bitcoin's Next Bull Run, Cameron Winklevoss Says
stablecoin

"Buckle Up" For Bitcoin's Next Bull Run, Cameron Winklevoss Says

Gemini co-founder Cameron Winklevoss believes that the next Bitcoin bull run coming up will be "dramatically different,” due to the innovative financial resources that crypto investors have access to nowadays and to the current economic infrastructure.

National Australia Bank to Launch Ethereum-Based Stablecoin
stablecoin

National Australia Bank to Launch Ethereum-Based Stablecoin

NAB will introduce an Ether-based Australian dollar-pegged stablecoin. Reports say the AUDN stablecoin streamlines cross-border transfers and carbon credit trading.

Circle Plans to Cover USDC Shortfall After SVB Shutdown
stablecoin

Circle Plans to Cover USDC Shortfall After SVB Shutdown

Circle, the issuer of the stablecoin USD Coin (USDC), has announced that it will use corporate resources to cover the shortfall on its reserves after Silicon Valley Bank (SVB) was shut down by the California Department of Financial Protection and Innovation. USDC liquidity operations will resume as normal when banks open on Monday, enabling redemption at 1:1 with the US dollar. The stablecoin lost its $1 peg on March 11, trading as low as $0.87, due to the disclosure of $3.3 billion of Circle's reserve held at SVB.

Fusion Hacked? CEO Says That 10M FSN Tokens are Gone
stablecoin

Fusion Hacked? CEO Says That 10M FSN Tokens are Gone

The blockchain-based financial platform, Fusion Network has announced a compromised wallet on Sept. 28. The Fusion swap wallet compromise resulted in a theft of 10 million native FSN tokens.

G20-Backed FSB Sets Out Roadmap for Stablecoins and CBDCs, Optimizing Cross-Border Payment System
stablecoin

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.

About 90 Percent of Countries Representing the Global Economy Exploring CBDCs, Report says
stablecoin

About 90 Percent of Countries Representing the Global Economy Exploring CBDCs, Report says

A recent testimony by Julia Friedlander to Congress has revealed that more countries are exploring CBDCs, however, the US is lagging behind.

LidoDAO is considering selling or staking its $30 million
stablecoin

LidoDAO is considering selling or staking its $30 million

LidoDAO, the decentralized autonomous organization behind Lido, is considering staking or selling its $30 million ETH treasury to meet unexpected market swings.

US Congress Examines Draft Stablecoin Bill While Facebook Will Not Launch Libra Until US Regulators Approve
stablecoin

US Congress Examines Draft Stablecoin Bill While Facebook Will Not Launch Libra Until US Regulators Approve

The United States Congress has been considering drafting a bill that argues that all managed stablecoins must be treated as investment contracts and hence are securities.

Opinion: Terra – A lesson learnt for trading platforms?
stablecoin

Opinion: Terra – A lesson learnt for trading platforms?

The events related to the Terra and Luna collapse highlight why trading platforms need to provide clarity and education for their users. With tighter regulations looming, demonstrating responsibility and a commitment to consumer protection is vital if trading platforms are to thrive.

Arthur Hayes: Major Banks to Challenge Tether's Stablecoin Dominance
stablecoin

Arthur Hayes: Major Banks to Challenge Tether's Stablecoin Dominance

Major banks set to challenge Tether's stablecoin dominance, leveraging trust, compliance, and technology in a rapidly evolving market.

BIS Survey: 93% of Central Banks Engaged in CBDCs, 15 Retail and 9 Wholesale CBDCs Expected by 2030
stablecoin

BIS Survey: 93% of Central Banks Engaged in CBDCs, 15 Retail and 9 Wholesale CBDCs Expected by 2030

The Bank for International Settlements (BIS) has released a survey revealing that 93% of central banks are now engaged in some form of Central Bank Digital Currency (CBDC) work, with retail CBDCs taking the lead over wholesale CBDCs.

FDIC to Offer Guidance on Crypto After it Understands its Associated Risks
stablecoin

FDIC to Offer Guidance on Crypto After it Understands its Associated Risks

FDIC's Martin Gruenberg said more guidance will be given to banks about crypto when it gains more understanding of its inherent risks

Ethereum Co-Founder: Facebook Not Fit to be Libra’s Driving Force
stablecoin

Ethereum Co-Founder: Facebook Not Fit to be Libra’s Driving Force

Joseph Lubin, Ethereum’s co-founder, has asserted that Facebook should not spearhead the Libra project based on the concerns raised about its reputation.

Shinhan Bank and SCB TechX Achieve Milestone with Successful Stablecoin Remittance Pilot on Hedera Network
stablecoin

Shinhan Bank and SCB TechX Achieve Milestone with Successful Stablecoin Remittance Pilot on Hedera Network

Shinhan Bank, SCB TechX, and Taiwan's largest financial institution have successfully completed a stablecoin remittance proof-of-concept (PoC) pilot on the Hedera network, as announced on July 18th, 2023.

Six Central Banks Form Working Group to Assess Central Bank Digital Currencies
stablecoin

Six Central Banks Form Working Group to Assess Central Bank Digital Currencies

Six central banks around the world have come together to create a working group to share experiences on use cases on central bank digital currency (CBDC). With significant expertise in exploring digital currencies, these six central banks are the Bank of Canada, Bank of England, Bank of Japan, European Central bank, Sveriges Riksbank in Sweden, and the Swiss National Bank, and the Bank of International Settlements (BIS).

Circle Crypto Firm to Go Public in SPAC Deal Valuing At $4.5 Billion
stablecoin

Circle Crypto Firm to Go Public in SPAC Deal Valuing At $4.5 Billion

Stablecoin Issuer Circle Announces $4.5 Billion SPAC Deal. The combination with Concord Acquisition Corp sets to bring Circle more than $691 million.

Cryptocurrency Firms Deny Exposure to Troubled US Banks
stablecoin

Cryptocurrency Firms Deny Exposure to Troubled US Banks

Major cryptocurrency firms, including Tether, Crypto.com, Gemini, BitMEX, and others, have denied exposure to dissolved U.S. banks like Silicon Valley Bank and Signature Bank. The firms have taken to social media to assure their users that their funds are safe and accessible despite ongoing issues in the U.S. banking system.

Aave Freezes Stablecoin Trading Amid Price Volatility
stablecoin

Aave Freezes Stablecoin Trading Amid Price Volatility

Lending protocol Aave has temporarily halted trading of stablecoins and set the loan-to-value (LTV) ratio to zero due to the recent price volatility on USD Coin (USDC) following its depegging on March 11. Aave's decision was based on an analysis by decentralized finance risk management firm Gauntlet Network, which recommended a temporary pause of all v2 and v3 markets. The LTV ratio determines how much credit can be secured using crypto as collateral and is calculated by dividing the amount of credit borrowed by the value of the collateral.

FTX Looking to Launch its Own Stablecoin - Sam Bankman-Fried
stablecoin

FTX Looking to Launch its Own Stablecoin - Sam Bankman-Fried

FTX CEO Sam Bankman-Fried has given a hint that the exchange will launch its own stablecoin

NEAR Protocol to Wind Down Stablecoin USN, Allocating Funds for User Protection
stablecoin

NEAR Protocol to Wind Down Stablecoin USN, Allocating Funds for User Protection

The firm has announced plans to shut down the USN stablecoin to avoid greater risks.

Stablecoin Depeg Event Reveals Risks to DeFi and Traditional Finance
stablecoin

Stablecoin Depeg Event Reveals Risks to DeFi and Traditional Finance

Recent failures of established financial institutions, such as Silicon Valley Bank and Signature Bank, have highlighted the potential for distress to spread to the decentralized finance (DeFi) sector. The depegging of stablecoins, including Circle's USD coin (USDC), has also brought governance risks related to the custody of reserve assets to the forefront. Moody's anticipates that regulators could increase their scrutiny of stablecoins and require greater counterparty diversification.

The Financial Stability Board (FSB) is pushing for international regulations
stablecoin

The Financial Stability Board (FSB) is pushing for international regulations

Global standard-setting organisations are helping the Financial Stability Board evaluate DeFi legislation in numerous countries.

Hong Kong's 2024 Budget Introduces 'Regulatory Sandbox' for Stablecoin Testing
stablecoin

Hong Kong's 2024 Budget Introduces 'Regulatory Sandbox' for Stablecoin Testing

Hong Kong to launch a 'regulatory sandbox' for testing stablecoin issuance and business models, as outlined in the city's 2024 budget plan.

Bank of England Solicits Funds to Enhance Crypto Crackdown
stablecoin

Bank of England Solicits Funds to Enhance Crypto Crackdown

The Bank of England, through the Prudential Regulation Authority (PRA), is looking to raise as much as £321 million ($419 million) from the commercial institutions as it is planning to shore up its regulatory efforts in the digital currency ecosystem.

First Digital Group Launches New Stablecoin FDUSD to Revolutionize Global Finance
stablecoin

First Digital Group Launches New Stablecoin FDUSD to Revolutionize Global Finance

Asia's leading trust company and qualified custodian, First Digital, is making waves in the global financial ecosystem with the announcement of its new stablecoin, First Digital USD (FDUSD)

Crypto Tax Payments Permitted in Bermuda
stablecoin

Crypto Tax Payments Permitted in Bermuda

Bermuda has started accepting tax payments using Circle's stablecoin known as USD Coin (USDC).

Circle Taps BNY Mellon to Serve as Custodian for USDC Stablecoin Reserves
stablecoin

Circle Taps BNY Mellon to Serve as Custodian for USDC Stablecoin Reserves

The new partnership will mutually benefit Circle and Mellon Bank.

White House Report Casts Doubt on Cryptocurrencies
stablecoin

White House Report Casts Doubt on Cryptocurrencies

The White House's Economic Report includes a chapter questioning the benefits of cryptocurrencies, with 35 pages dedicated to debunking them. It argues that crypto assets fail to deliver on their promised benefits, and that they are too volatile to be a stable store of value or reliable medium of exchange.

Brock Pierce Served for Securities Fraud in Connection with His Blockchain Company Block.one During Electoral Campaign
stablecoin

Brock Pierce Served for Securities Fraud in Connection with His Blockchain Company Block.one During Electoral Campaign

Presidential hopeful Brock Pierce was served a court summons during his electoral rally at his new headquarters in New York City today.

European Commission Eyes Crypto Regulatory Framework with New Digital Finance Package
stablecoin

European Commission Eyes Crypto Regulatory Framework with New Digital Finance Package

The European Commission (EC) has unveiled a digital finance package that highlights legislative proposals on crypto assets and digital resilience.

Circle Publishes Inuagural USDC Reserve Treasury Report for June
stablecoin

Circle Publishes Inuagural USDC Reserve Treasury Report for June

Co-Founder and CEO of Circle, Jeremy Allaire has announced the release of the company’s first monthly USDC reserve report for the month of June

BUSD, Paxos, and the Recent Scrutiny of Paxos
stablecoin

BUSD, Paxos, and the Recent Scrutiny of Paxos

Matrixport's director of research believed Paxos' BUSD supervision was too lax, prompting regulatory attention. Stablecoins are not the goal.

Terraform Labs Co-Founder Argues Against SEC Lawsuit
stablecoin

Terraform Labs Co-Founder Argues Against SEC Lawsuit

Terraform Labs co-founder, Do Kwon's lawyers have argued in court against the SEC's lawsuit for illegally offering unregistered securities. The lawyers claim the SEC's acquisitions are unfounded and that the stablecoin in question is a currency, not a security. Additionally, Kwon's arrest and subsequent extradition remain uncertain.

ECB Publishes New Stablecoin-Featured Framework for Overseeing Payments
stablecoin

ECB Publishes New Stablecoin-Featured Framework for Overseeing Payments

The European Central Bank (ECB) has released a new framework geared towards overseeing all forms of electronic payments in the region, including those bordering on stablecoins.

Bank of America Says Binance to Benefit from Increased Supply of Its Own Stablecoin
stablecoin

Bank of America Says Binance to Benefit from Increased Supply of Its Own Stablecoin

BAC has given more clarification on how Binance’s automatic conversion of other stablecoins could impact its business as well as its own BUSD stablecoin.

Russian Banking Giant Sberbank to Tokenize Financial Assets Using Stablecoins
stablecoin

Russian Banking Giant Sberbank to Tokenize Financial Assets Using Stablecoins

Sberbank, Russia’s biggest bank, has disclosed the possibility of issuing tokens to be utilized in digital financial assets (DFA) settlements. The token will be in the form of a stablecoin to be pegged to the nation’s currency, the Russian ruble.

World Bank Pushes to Raise the Bar for FinTech and DLT for Cross-Border Interoperability and Financial Inclusion
stablecoin

World Bank Pushes to Raise the Bar for FinTech and DLT for Cross-Border Interoperability and Financial Inclusion

The World Bank Group has recently published a study, issued by the Bank for International Settlements (BIS) on “Payment aspects of financial inclusion in the FinTech era,” highlighting the concepts derived using blockchain, including stablecoins, and central bank digital currencies (CBDCs).

Moody warns of stablecoin adoption risk
stablecoin

Moody warns of stablecoin adoption risk

Moody's Investors Service has warned that the recent turmoil in the traditional banking sector and USDC losing its peg could negatively impact stablecoin adoption and increase calls for regulation. The credit rating agency believes that fiat-backed stablecoins like USDC could face new resistance, limiting their stability and potentially causing a run on banks holding Circle's assets, which could lead to the depegging of other stablecoins.

US Federal Reserve to Create Cryptocurrency Team Amid Concerns Over Unregulated Stablecoins
stablecoin

US Federal Reserve to Create Cryptocurrency Team Amid Concerns Over Unregulated Stablecoins

The US Federal Reserve is planning to establish a specialized team of experts to keep up with developments in the cryptocurrency industry, specifically focusing on stablecoins. The move comes amid concerns that unregulated stablecoins could put households, businesses, and the broader economy at risk. While acknowledging the transformative potential of cryptocurrencies, the Federal Reserve believes that appropriate guardrails need to be in place to ensure that the benefits of innovation can be realized.

Binance to Convert Users’ USDC Into Its Own Stablecoin
stablecoin

Binance to Convert Users’ USDC Into Its Own Stablecoin

Binance said the move aims to improve liquidity and capital efficiency for customers.

Stablecoins to be Issued by Licensed Banks and Trust Companies in New Japanese Law
stablecoin

Stablecoins to be Issued by Licensed Banks and Trust Companies in New Japanese Law

In a move to protect investors, Japan’s parliament has passed a bill classifying stablecoins as digital money that must be connected to the nation’s currency, yen, or another legal tender.

The Judge Decides Celsius Owns Money In Earn Accounts, Allowing Stablecoin Selling
stablecoin

The Judge Decides Celsius Owns Money In Earn Accounts, Allowing Stablecoin Selling

On January 4, Reuters reported that US investigators had told a court that they were taking assets tied to FTX and its former CEO, Sam Bankman-Fried. The document included 468 million dollars' worth of Robinhood shares, valued 56 million at the time. The report was released a day after a court ordered SBF to stop accessing FTX and Alameda-related bitcoin and assets.

Calibra Head David Marcus Declares Libra as the Most Secure Payment Network
stablecoin

Calibra Head David Marcus Declares Libra as the Most Secure Payment Network

David Marcus, Head of Calibra, the digital wallet for Facebook’s Libra stablecoin explained at Money 20/20 conference in Las Vegas about how the network aims to transform the traditional payments industry.

Human Rights Advocates Urge U.S. Lawmakers to Concern Crypto, Saving Crumbling Currencies
stablecoin

Human Rights Advocates Urge U.S. Lawmakers to Concern Crypto, Saving Crumbling Currencies

A group of human rights advocates have urged U.S. Congress members to be concerned about the role of importance of cryptocurrencies against unstable economies whose local currencies are collapsing.

Aave Announces the Launch of Its V2 Liquidity Mining Program
stablecoin

Aave Announces the Launch of Its V2 Liquidity Mining Program

Aave announced the launch of the V2 liquidity mining (LM) program, which will operate for three months for analysis and end on July 15.

Circle Launches Corporate Account to Support USDC Transactions
stablecoin

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.

CoinGecko Report: 2023 Crypto Industry Rebounds with Resilience and Transformation
stablecoin

CoinGecko Report: 2023 Crypto Industry Rebounds with Resilience and Transformation

2023 saw a resilient crypto industry with a 108.1% increase in market cap to $1.72T and a total trading volume of $36.6T. NFT trading reached $11.8B, while stablecoins like Tether maintained a strong presence. Bitcoin's value rose significantly, contributing to the year's positive momentum.

Understanding the Profound Impact of Stablecoins on Traditional Finance
stablecoin

Understanding the Profound Impact of Stablecoins on Traditional Finance

Stablecoin is a compromise on absolute money issuance power and the adoption of disruptive blockchain technology. Stablecoin will have a profound impact on the infrastructure of future financial systems.

$100 Million of Tether Swapped from Tron Network to Ethereum Blockchain
stablecoin

$100 Million of Tether Swapped from Tron Network to Ethereum Blockchain

$100 million worth of Tether (USDT) has been transferred from the Tron network, a blockchain-based decentralized operating system, to the Ethereum blockchain.

Cardano's New Algorithmic Stablecoin DJED
stablecoin

Cardano's New Algorithmic Stablecoin DJED

ADA, Cardano's native token, backs the algorithmic stablecoin, which is tied 1:1 to the US dollar.

Canada, Netherlands, Ukraine Central Banks Say Blockchain Not Necessary for CBDC
stablecoin

Canada, Netherlands, Ukraine Central Banks Say Blockchain Not Necessary for CBDC

In a conference hosted by National Bank of Ukraine, some central banks recently suggested that blockchain is unnecessary for digital fiat currency

BitMEX Co-Founder Proposes Bitcoin-Backed Stablecoin
stablecoin

BitMEX Co-Founder Proposes Bitcoin-Backed Stablecoin

Arthur Hayes, the co-founder and former CEO of BitMEX, has proposed creating a new stablecoin called the Satoshi Nakamoto Dollar (NUSD) or NakaDollar. Unlike major reserve-backed U.S. dollar-pegged stablecoins, the proposed NakaDollar would be pegged to the sum of $1 worth of Bitcoin and one inverse perpetual swap of BTC against USD, without relying on any USD reserves. The stablecoin's peg to the U.S. dollar would be maintained via mathematical transactions between the new decentralized autonomous organization (DAO) authorized participants and derivatives exchanges.

Tether's Blockchain Ecosystem Continues to Grow with USDT Launch on Bitcoin Cash Network
stablecoin

Tether's Blockchain Ecosystem Continues to Grow with USDT Launch on Bitcoin Cash Network

Tether’s USDT token, the world’s largest stablecoin by marketcap, has launched on the Bitcoin Cash network. USDT is also available on Algorand, EOS, Tron, Omni and the Liquid Network.

TrueUSD (TUSD) Strives to Resume Minting with Prime Trust
stablecoin

TrueUSD (TUSD) Strives to Resume Minting with Prime Trust

In recent updates, the TrueUSD (TUSD) team has announced that they are actively engaged in efforts to resume TUSD minting on Prime Trust. This announcement was made following an unexpected pause in TUSD minting via Prime Trust, an event that took place on June 10.

European Central Bank Encourages Clear Regulatory Structure for Stablecoins to Reap the Benefits While Minimizing Potential Risks
stablecoin

European Central Bank Encourages Clear Regulatory Structure for Stablecoins to Reap the Benefits While Minimizing Potential Risks

The European Central Bank (ECB) published an in-depth report on global stablecoins, focusing on highlighting the requirement for clear regulatory parameters for stablecoins, and the risks it may pose to financial stability. The ECB suggests that a “robust regulatory framework” must be established to address risks before its benefits could be explored.

Tether Aims to Render More Transparency by Slashing Commercial Paper Holdings
stablecoin

Tether Aims to Render More Transparency by Slashing Commercial Paper Holdings

Based on continuous efforts to decrease its commercial paper portfolio for transparency purposes, Tether revealed that it would slash its holdings by $5 billion by the end of July.

Facebook Digital Currency Libra Rebrands Name to Diem Ahead of Its Dollar-Backed Stablecoin Launch
stablecoin

Facebook Digital Currency Libra Rebrands Name to Diem Ahead of Its Dollar-Backed Stablecoin Launch

Facebook-backed Libra Association has rebranded its name to the Diem Association ahead of the proposed launch of its dollar-backed stablecoin.

Tether Launches USDT Stablecoin on Near Network to Unlock New DeFi Products
stablecoin

Tether Launches USDT Stablecoin on Near Network to Unlock New DeFi Products

Tether’s USDT, the world’s largest stablecoin by market cap, is now available on the Near Network proof-of-stake blockchain.

Boyaa Interactive Advances into Cryptocurrency with a $100 Million Acquisition Mandate
stablecoin

Boyaa Interactive Advances into Cryptocurrency with a $100 Million Acquisition Mandate

Boyaa Interactive plans to invest $100 million in cryptocurrencies, focusing on Bitcoin, Ether, and stablecoins, while ensuring secure platforms in the volatile crypto market.

SmartFi To Issue First Mineable Stablecoin & Payment System without Transaction Fees
stablecoin

SmartFi To Issue First Mineable Stablecoin & Payment System without Transaction Fees

U.S. based cryptocurrency platform Smartfi announced to develop two coins, including the first minable stablecoin worldwide, which will not require a burn-mint protocol or USD-fiat-peg to maintain an exact correlation to the US Dollar.

FTX Exchange Offers $1M to First bank in Each Region who Accept Stablecoins
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.

Why Facebook's Libra Is Not A Real Cryptocurrency
stablecoin

Why Facebook's Libra Is Not A Real Cryptocurrency

Facebook on Tuesday announced its Bitcoin rival called Libra, a cryptocurrency created by a Facebook subsidiary called Calibra that will be managed by an oversight body called the Libra Association. The Libra coin will not be available immediately, as the announcement only covers the vision and technology behind the Facebook blockchain. But the company says Libra will be private, mostly.

Cardano ADA Ecosystem Q2 2023: DeFi Growth, Stablecoins, and NFT Trends
stablecoin

Cardano ADA Ecosystem Q2 2023: DeFi Growth, Stablecoins, and NFT Trends

Cardano's Q2 2023 report by Messari highlights 34.9% stablecoin growth, DeFi expansion, and NFT trends, with promising developments in scaling solutions.

Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
stablecoin

Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins

US Senator Elizabeth Warren has urged Treasury Secretary Janet Yellen to include comprehensive Anti-Money Laundering and Combating the Financing of Terrorism measures for stablecoins, highlighting potential risks of funding terrorist activities.

Chinese Court Reaffirms Stablecoins are Not Legal Tender
stablecoin

Chinese Court Reaffirms Stablecoins are Not Legal Tender

It is already about a year since China banned transactions involving digital currency transactions, and a Chaoyang Court in Beijing has further reiterated that cryptocurrencies are not legal tender.

Circle's 2024 USDC Economy Report Reveals Significant Growth in Stablecoin Adoption
stablecoin

Circle's 2024 USDC Economy Report Reveals Significant Growth in Stablecoin Adoption

Circle's 2024 report on the USDC economy highlights significant growth in stablecoin adoption and usage, with a 59% increase in USDC wallets and over $12 trillion settled in blockchain transactions since its inception.

Brazilian Fintech Firm PicPay Plans to Launch Crypto Services
stablecoin

Brazilian Fintech Firm PicPay Plans to Launch Crypto Services

Brazilian financial technology company, PicPay wants to bring crypto payments to its users by using its app.

HUSD Stablecoin Drops 56% From Dollar Peg Following Huobi Delisting
stablecoin

HUSD Stablecoin Drops 56% From Dollar Peg Following Huobi Delisting

According to CoinMarketCap, HUSD stablecoin has fallen massively from its $1 peg, dropping to a low of $0.32 following delisting from crypto exchange Huobi on Friday last week.

Hong Kong to introduce comprehensive stablecoin regulation, focusing on innovation and investor protection.
stablecoin

Hong Kong to introduce comprehensive stablecoin regulation, focusing on innovation and investor protection.

Hong Kong is launching a public consultation to establish comprehensive stablecoin regulations, aiming to balance innovation with investor protection, marking a significant step in cryptocurrency governance.

Tether’s Market Cap Surges By $1 Billion in Just 9 Days to Hit $19 Billion
stablecoin

Tether’s Market Cap Surges By $1 Billion in Just 9 Days to Hit $19 Billion

The market capitalization of leading stablecoin Tether (USDT) has been on a roller coaster ride after surging by $1 billion in a record 9 days to hit $19 billion.

Tether Brings into Play Anti-Money Laundering Solutions with Chainalysis Tool
stablecoin

Tether Brings into Play Anti-Money Laundering Solutions with Chainalysis Tool

Tether, the most leveraged stablecoin provider based on market capitalization, has deployed a tool provided by Chainalysis, a blockchain analytical company, in its quest to have anti-money laundering (AML) compliance solutions

South Korean Officials Confirm They Sent Team to Serbia to Find Do Kwon
stablecoin

South Korean Officials Confirm They Sent Team to Serbia to Find Do Kwon

South Korean authorities have increased their search for Do Kwon and deployed state officials to Serbia.

USD Coin Chief Strategy Officer Twitter Account Hacked
stablecoin

USD Coin Chief Strategy Officer Twitter Account Hacked

Circle's USD Coin (USDC) stablecoin chief strategy officer Dante Disparte's Twitter account has been hacked, with the account reportedly promoting fake loyalty rewards to long-time users of USDC.

Taiwan's Legislature Considers Virtual Asset Management Bill to Protect Consumers
stablecoin

Taiwan's Legislature Considers Virtual Asset Management Bill to Protect Consumers

The Taiwanese Legislature is deliberating on a new Virtual Asset Management Bill aimed at fostering better consumer protection and industry oversight. The bill, seen as moderate, outlines pragmatic mandates for VASPs while leaving room for further regulatory fine-tuning, marking a significant step in Taiwan’s evolving digital asset regulatory landscape.

USDC issuer Circle releases accountant-verified report
stablecoin

USDC issuer Circle releases accountant-verified report

Circle's newest reserve report shows $44.5 billion USDC stablecoin assets.

Bitfinex: The Crisis Tested Liquid Exchange King for Bitcoin and Ethereum Trading
stablecoin

Bitfinex: The Crisis Tested Liquid Exchange King for Bitcoin and Ethereum Trading

During the March 12 stock market crash instigated by the coronavirus pandemic’s disruption to the world economy, cryptocurrency exchanges experienced a massive sell-off of Bitcoin and Ethereum. When the liquidation panic finally settled down, Bitfinex emerged as one of the few exchanges that had been able to take the extreme volatility in stride.

Stablegains Sued for Allegedly Misleading Investors
stablecoin

Stablegains Sued for Allegedly Misleading Investors

Stablegains, a DeFi yield platform that closed in May, is being sued in California.

UK to Unveil Plans for Crypto Regulation, Eyeing Stablecoins
stablecoin

UK to Unveil Plans for Crypto Regulation, Eyeing Stablecoins

According to CNBC, the U.K. government will announce a cryptocurrency regulatory regime in the next few weeks, with a focus on stablecoins, and the details of the plan are still being actively discussed.

UK to Introduce New Stablecoin and Crypto Laws by July
stablecoin

UK to Introduce New Stablecoin and Crypto Laws by July

UK Economic Secretary Bim Afolami plans to introduce new laws to regulate stablecoins and crypto, addressing the rapidly growing industry with licensing requirements, tax implications, exchange platform scrutiny, and robust security measures.

Frax Finance has voted to fully collateralizing
stablecoin

Frax Finance has voted to fully collateralizing

Frax Finance decided to completely collateralize the $1 billion capitalization Frax stablecoin.

NY Fed New Rules Cast Uncertainty on Circle's Access to Reverse-Repurchase Program
stablecoin

NY Fed New Rules Cast Uncertainty on Circle's Access to Reverse-Repurchase Program

The New York Federal Reserve has updated its rules for reverse repurchase agreements (RRP), potentially hindering Circle's access to the Fed's reverse-repurchase program. The Circle Reserve Fund is a money market fund only available to Circle and could be deemed ineligible under the Fed's updated guidelines.

Binance CZ: We Have No Immediate Plans for a Chinese Yuan-Based Stablecoin
stablecoin

Binance CZ: We Have No Immediate Plans for a Chinese Yuan-Based Stablecoin

Recent announcements have created waves in the blockchain industry. Binance has been making its way around the world, enabling better adoption and an overall understanding of crypto. With China’s President Xi Jinping urging its nation to use blockchain technology and its development, how is Binance leveraging on new collaborations around the world?

Will Crypto Assets Have a Future in Russia After All? State Duma Passes DFA Bill
stablecoin

Will Crypto Assets Have a Future in Russia After All? State Duma Passes DFA Bill

The State Duma of Russia passed a law regarding digital financial assets (DFA) in the financial bill’s third reading, which determined the fate of Bitcoin and other cryptocurrencies.

Bit.com Rolls Out USD Perpetual Trading for Diversification Purposes
stablecoin

Bit.com Rolls Out USD Perpetual Trading for Diversification Purposes

To eliminate overreliance on a single type of stablecoin, Seychelles-based crypto exchange @Bit.com has rolled out USD perpetual trading, starting with BTC/USD and ETH/USD pairs.

MoneyGram CEO Sees Stablecoin As Future of Payments as Service Needs Grow
stablecoin

MoneyGram CEO Sees Stablecoin As Future of Payments as Service Needs Grow

Stablecoins provide low-cost and easily accessible digital payments across international borders.

Why Stablecoins are Securing the Future of Crypto World
stablecoin

Why Stablecoins are Securing the Future of Crypto World

While the value of most cryptos has tremendously declined due to coronavirus outbreak, the demand for stablecoins seems to be on the rise.

Alameda Research Minted Over $39 Billion USDT, Amounting to Nearly Half of Tether's Circulating Supply
stablecoin

Alameda Research Minted Over $39 Billion USDT, Amounting to Nearly Half of Tether's Circulating Supply

Recent data analysis reveals that Alameda Research minted $39.55 billion USDT, nearly half of Tether's circulating supply. The findings underscore the significant role of major crypto trading firms in stablecoin operations, with a detailed examination of USDT's creation and redemption processes.

Multichain CEO's Arrest Triggers Operational Freeze
stablecoin

Multichain CEO's Arrest Triggers Operational Freeze

In a series of unfortunate events, the Multichain protocol, a cross-chain router protocol, has been left in a state of uncertainty following the arrest of its CEO, Zhaojun, on May 21, 2023. The arrest led to a series of operational disruptions, including the revocation of operational access keys to the Multichain's MPC node servers, which were under Zhaojun's personal control.

Bitcoin Miners Move 54,000 BTC to Binance as Liquidity Drops
stablecoin

Bitcoin Miners Move 54,000 BTC to Binance as Liquidity Drops

Recently, significant Bitcoin transactions have been observed in the market. According to Ki Young Ju, the CEO of CryptoQuant, Bitcoin miners have reportedly transferred a whopping 54,000 BTC to Binance over the last three weeks.

Recap on 2019 Blockchain Use Cases: Who Got Off the Ground?
stablecoin

Recap on 2019 Blockchain Use Cases: Who Got Off the Ground?

A quick look at some of the most exciting blockchain use-cases of 2019.

Janet Yellen Urges Regulators to Move Fast on Regulating Stablecoin Rules
stablecoin

Janet Yellen Urges Regulators to Move Fast on Regulating Stablecoin Rules

US Treasury Secretary Janet Yellen pushed top US financial regulators to speed up regulations of stablecoin cryptocurrencies.

EU Agreement on MiCA May Not Favor Stablecoins
stablecoin

EU Agreement on MiCA May Not Favor Stablecoins

After much deliberation and compromises from the European Commission, Assembly, and Council, a final agreement that builds the comprehensive framework for the digital currency ecosystem has finally been made

Analysis: Here is What the New Crypto Bill Mean for the Blockchain Ecosystem?
stablecoin

Analysis: Here is What the New Crypto Bill Mean for the Blockchain Ecosystem?

What are the implications of the newly introduced US Crypto Bill? Blockchain.News recently spoke to crypto experts to comment on the consequences of the bill, and tell us what advantages might bring to the industry.

Stablecoins Hit $20 Billion by Market Cap Milestone, More Investors Favouring Tether as Hedge
stablecoin

Stablecoins Hit $20 Billion by Market Cap Milestone, More Investors Favouring Tether as Hedge

Stablecoins have made incredible crypto gains, achieving a milestone of $20 billion per market capitalization in September.

Bruno Le Maire Insists He Cannot Support Facebook’s Libra
stablecoin

Bruno Le Maire Insists He Cannot Support Facebook’s Libra

Since the social media giant, Facebook announced its plan to launch its digital currency known Libra, one critic has repeatedly made his opinion known. Bruno Le Maire cannot and will not support the stablecoin project.

Overnight collapse of two traditional banks triggers chaos
stablecoin

Overnight collapse of two traditional banks triggers chaos

The collapse of Silicon Valley Bank and Signature Bank caused major chaos, resulting in stablecoins depegging from the U.S. dollar. The federal government has taken action to protect depositors, and President Joe Biden has vowed to hold those responsible accountable.

OCC Says US Banks Can Use Blockchains and Stablecoins in Bank Payments
stablecoin

OCC Says US Banks Can Use Blockchains and Stablecoins in Bank Payments

According to the OCC, regulated banks in the US can leverage stablecoins to conduct payments as well as participate as validator nodes on blockchain networks called INVNs.

BOE Governor: Bitcoin and Trending Cryptocurrencies May not be Viable in the Future but Stablecoins Are the Exception
stablecoin

BOE Governor: Bitcoin and Trending Cryptocurrencies May not be Viable in the Future but Stablecoins Are the Exception

Speaking at the World Economic Forum, the Bank of England governor Andrew Bailey discussed how cryptocurrencies would fit in the current governance system.

Justin Sun Tweets Tron just Issued $1.3 Billion in Tether, Here's What it Means for Crypto
stablecoin

Justin Sun Tweets Tron just Issued $1.3 Billion in Tether, Here's What it Means for Crypto

While the broader cryptocurrency market is still reeling from a multi-year bear market since 2017, stablecoins like Tether are seeing action. Billions of dollars in USDT have been issued since its launch and the addition of Tron-backed stablecoin issuance, coupled with the now-concluded Bitcoin halving, signals a volatile period ahead for crypto traders and investors.

Circle CEO Allaire Supports Binance Stablecoin Decision
stablecoin

Circle CEO Allaire Supports Binance Stablecoin Decision

Circle CEO said the recent move by Binance to merge stablecoins could help make USDC the standard stablecoin rail between centralized exchanges and decentralized Exchanges.

Parachain Auction Winner Acala Commits $250M to Fuel aUSD stablecoin Adoption on Polkadot
stablecoin

Parachain Auction Winner Acala Commits $250M to Fuel aUSD stablecoin Adoption on Polkadot

Parachain auction winner the Acala Network has launched a $250 million fund to fuel the adoption of Acala USD (aUSD) as the dominant stablecoin for the Polkadot and Kusama ecosystem respectively.

Crypto Market Swings to Extreme Greed as USDT & USDC Issuance Skyrockets
stablecoin

Crypto Market Swings to Extreme Greed as USDT & USDC Issuance Skyrockets

KuCoin's latest research highlights a major shift in the crypto market to extreme greed, backed by a $4.55 billion rise in stablecoins USDT and USDC, signaling increased market liquidity.

Japan’s Financial Regulator Proposes New Legislations, Limiting Stablecoin Issuance to Banks
stablecoin

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.

G20 Agency Warns Countries of Systemic Risks Posed by Global Stablecoins
stablecoin

G20 Agency Warns Countries of Systemic Risks Posed by Global Stablecoins

The Financial Stability Board (FSB), the G20 body that advises on ways to improve the global financial system, has published a study on the challenges, which stablecoins pose for the global economy. The FSB stated that regulatory frameworks have already covered several activities associated with stablecoins, although there are other risks that many national regulators could be left unprepared for.

Ethereum Price Could Surge as OCC Permits US Banks to Run Nodes For Stablecoins
stablecoin

Ethereum Price Could Surge as OCC Permits US Banks to Run Nodes For Stablecoins

A recent announcement by the Office of the Comptroller of the Currency (OCC) has provided a mainstream catalyst that could see the ETH price rally to new all-time highs.

What Would the Future of Crypto Be as Liz Truss Becomes Next UK PM
stablecoin

What Would the Future of Crypto Be as Liz Truss Becomes Next UK PM

As Liz Truss is set to take the top administrative position of Prime Minister in the country, the market is concerned about her monetary policies, including the stance towards cryptocurrency, regulation of Stablecoins and digital assets.

Democrats Critical of OCC's "Excessive Focus" on Crypto and Stablecoin Financial Services
stablecoin

Democrats Critical of OCC's "Excessive Focus" on Crypto and Stablecoin Financial Services

Democrat members of the United States Congress led by Congresswoman Rashida Tlaib (D-MI) have criticized the OCC's focus on crypto and stablecoins.

Binance pivots to stablecoins after SEC regulatory action
stablecoin

Binance pivots to stablecoins after SEC regulatory action

Binance, the largest cryptocurrency exchange by trading volume, has turned to alternative stablecoins such as TrueUSD (TUSD) and decentralized stablecoins, following a regulatory action against its native stablecoin, Binance USD (BUSD), by the US Securities and Exchange Commission (SEC). Binance was forced to seek alternatives after the New York Department of Financial Services (NYDFS) asked BUSD issuer Paxos Trust to stop minting new BUSD altogether.

Consensys Report: CBDC are Risk-Free Compared to Facebook Libra
stablecoin

Consensys Report: CBDC are Risk-Free Compared to Facebook Libra

In a recent white paper entitled Central Banks and the Future of Digital Money—Consensys offers an insightful and practical overview of the potential and risks of CBDC. The research paper also offers an example of how the Ethereum blockchain can be leveraged to design and build a CBDC and takes a deep dive into what the practical implementation of a CBDC would require.

US House Committee to Discuss Stablecoins Regulation
stablecoin

US House Committee to Discuss Stablecoins Regulation

The US House Committee on Financial Services will conduct a hearing on April 19 to evaluate stablecoins’ position as a means of payment and whether the payment ecosystem needs supporting legislation. Circle's chief strategy officer and head of global policy, Dante Disparte, will testify at the hearing, which will focus on various stablecoins and their use in the payments landscape. A draft bill providing a framework for stablecoins in the United States was recently published in the House of Representatives document repository.

Breaking: PayPal Launches Stablecoin PYUSD
stablecoin

Breaking: PayPal Launches Stablecoin PYUSD

PayPal has launched a U.S. dollar stablecoin, PayPal USD (PYUSD), backed by U.S. dollar deposits and Treasuries.

Paypal Confirms Plans to Launch its Platform Specific Stablecoin
stablecoin

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.

US Crypto Crackdown Hurts USD Coin
stablecoin

US Crypto Crackdown Hurts USD Coin

Circle CEO Jeremy Allaire has blamed the declining market capitalization of USD Coin (USDC) on the cryptocurrency crackdown by US regulators. Allaire cited global concern about the US banking system and regulatory environment as major factors.

USDT Tokens Now Live on the Polkadot Network
stablecoin

USDT Tokens Now Live on the Polkadot Network

Tether Limited recently expanded its reach across various blockchain platforms by launching its stablecoin (USDT) on the Polkadot network

Heath Tarbert Joins Circle as Chief Legal Officer and Head of Corporate Affairs
stablecoin

Heath Tarbert Joins Circle as Chief Legal Officer and Head of Corporate Affairs

Circle Internet Financial has appointed Heath Tarbert as its new chief legal officer and head of corporate affairs, effective from July 1, 2023.

Stablecoin and Its Potential Business Uses
stablecoin

Stablecoin and Its Potential Business Uses

Blockchain innovation has significantly changed the way we thought in the traditional financial sector. All of those concepts and business models, such as decentralization, cryptographic tokens, and digital ledger, also brought us more imaginations toward the future forms of money.

US Government Plans to Use USDC Stablecoin to Offer Foreign Aid in Venezuela
stablecoin

US Government Plans to Use USDC Stablecoin to Offer Foreign Aid in Venezuela

U.S government has tapped Circle’s USDC stablecoin to offer foreign aid in Venezuela through President-elect Juan Guaidó exiled government.

Tether Completes Reserves Attestation by Major Global Accounting Firm
stablecoin

Tether Completes Reserves Attestation by Major Global Accounting Firm

BDO, a global accounting company, has attested Tether's reserves.

IMF: Latin America and the Caribbean Embrace CBDC and Crypto Assets
stablecoin

IMF: Latin America and the Caribbean Embrace CBDC and Crypto Assets

Interest in central bank digital currencies (CBDCs) is on the rise in Latin America and the Caribbean (LAC), with several countries making significant advancements in their adoption, according to IMF.

Russian Policy Boss Wants to Block Cryptocurrencies, Says They Are Difficult to Regulate
stablecoin

Russian Policy Boss Wants to Block Cryptocurrencies, Says They Are Difficult to Regulate

Anatoly Aksakov, head of the State Duma Financial Market Committee, stated that the country should explore other options for crypto regulation.

Circle Has Started Building New Reserve Funds With BlackRock
stablecoin

Circle Has Started Building New Reserve Funds With BlackRock

Circle is building a new reserve with BlackRock for USDC

Circle's USDC Reserve Exposure and Potential Risks
stablecoin

Circle's USDC Reserve Exposure and Potential Risks

Circle's latest audit report reveals that the company's exposure to the US banking system stands at nearly $9 billion, with its reserves held by a number of regulated financial institutions, including SVB, BNY Mellon, and Silvergate. However, recent events such as the shutdown of SVB and Silvergate's decision to shut down its crypto bank arm have raised concerns about potential risks for Circle and its stablecoin USDC.

Bitfinex Integrates Tether Stablecoin into the OMG Network as Ethereum Network Faces Congestion Issues
stablecoin

Bitfinex Integrates Tether Stablecoin into the OMG Network as Ethereum Network Faces Congestion Issues

Bitfinex cryptocurrency exchange has announced that it has integrated Tether (USDT) into the OMG network. The integration is set to reduce transaction confirmation and fees. The crypto exchange will enable Tether withdrawals and deposits on the OMG network. OMG network, previously known as OmiseGo, is a scaling platform, which enables peer-to-transactions in real-time, a solution that enhances the scalability of the Ethereum network.

Crypto Regulation Takes New Leap as European Council Adopts MiCA
stablecoin

Crypto Regulation Takes New Leap as European Council Adopts MiCA

The European Union is drawing closer to adopting the comprehensive Markets in Crypto Assets (MiCA) regulation as the European Council has passed the framework.

Paxos—How the Global Financial Crisis Inspired the Creation of the NYDFS-Regulated Stablecoin
stablecoin

Paxos—How the Global Financial Crisis Inspired the Creation of the NYDFS-Regulated Stablecoin

Charles Cascarilla is the CEO and co-founder of Paxos, a financial technology company working to modernize the financial system by digitizing and mobilizing assets. A traditional hedge fund manager and equity investor, Cascarilla was able to recognize the power of blockchain and the function it could have in revolutionizing the way trade is conducted and settled.

US Congress needs to take control of crypto legislation
stablecoin

US Congress needs to take control of crypto legislation

Blockchain Association CEO Kristin Smith said crypto regulation is occurring "behind closed doors" and asked for a more collaborative and "transparent approach."

Bitwise to Launch Two Innovative Ethereum Futures ETFs on October 2
stablecoin

Bitwise to Launch Two Innovative Ethereum Futures ETFs on October 2

Bitwise Asset Management to launch two first-of-its-kind Ethereum Futures ETFs, AETH and BTOP, on October 2. The ETFs offer exposure to CME Ether futures in a regulated format.

Tether Unveils Recovery Tool for Enhanced Blockchain Stability and User Asset Protection
stablecoin

Tether Unveils Recovery Tool for Enhanced Blockchain Stability and User Asset Protection

Tether introduces a robust blockchain recovery plan to secure USDT tokens and ensure uninterrupted access across multiple blockchains.

Circle Spokesperson Denies Blaming SEC for Failed $9 billion deal
stablecoin

Circle Spokesperson Denies Blaming SEC for Failed $9 billion deal

Circle denies blaming the SEC for its December $9 billion failed IPO. Circle's representative said any contradictory assertions are "inconsistent" with past declarations.

Curve Founder Proposes Venus Protocol Deployment on Ethereum Mainnet
stablecoin

Curve Founder Proposes Venus Protocol Deployment on Ethereum Mainnet

Michael Egorov of Curve Finance proposes launching Venus Protocol on Ethereum Mainnet, incorporating Curve's stablecoin crvUSD and CRV as collaterals, with community support for growth.

European Parliament Ratifies MiCA Framework in Landslide Vote
stablecoin

European Parliament Ratifies MiCA Framework in Landslide Vote

The long-awaited Markets in Crypto Assets (MiCA) regulation has just scaled through the European Parliament as MPs voted massively in favour of the bill.l

KuCoin Ventures Invests in Yuan-Pegged Stablecoin
stablecoin

KuCoin Ventures Invests in Yuan-Pegged Stablecoin

KuCoin Ventures leads a $10 million investment in CNHC, a Chinese yuan-pegged stablecoin issuer and blockchain payment service provider.

Bitfinex and Tether Claim Lawsuit Allegations of Market Manipulation are Baseless
stablecoin

Bitfinex and Tether Claim Lawsuit Allegations of Market Manipulation are Baseless

BitFinex and Tether have officially spoken out against what they are describing as a baseless lawsuit, designed to undermine the cryptocurrency ecosystem.

Binance converts remaining $1 billion in Industry Recovery Initiative to native crypto amidst concerns around stablecoins
stablecoin

Binance converts remaining $1 billion in Industry Recovery Initiative to native crypto amidst concerns around stablecoins

Binance co-founder and CEO, Changpeng Zhao, announced on March 13 that the exchange will be converting the remaining $1 billion funds in its Industry Recovery Initiative to native crypto amid concerns surrounding stablecoins. This decision was made following the depegging of the USD Coin (USDC) stablecoin caused by the failure of three major crypto-friendly banks - Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank.

April 23: ETH Eating The Stablecoin World
stablecoin

April 23: ETH Eating The Stablecoin World

Will ETH-inspired rally continue to drive the market? Will oil stabilize despite a fundamental short-term storage environment with a popular flawed ETF product? Will halvening next month start getting the market excited? Bottom line: mixed messaging.

VanEck Spearheads Entry into Stablecoin Market with Agora's AUSD Launch
stablecoin

VanEck Spearheads Entry into Stablecoin Market with Agora's AUSD Launch

Agora, backed by VanEck, announces the launch of AUSD, a USD-backed stablecoin, following a successful $12 million funding round led by Dragonfly.

Five EU Member States Take Position Against Stablecoins
stablecoin

Five EU Member States Take Position Against Stablecoins

Five members of the 27-member European Union Bloc has urged the body to pass regulations to stiffen the emergence and existence of stablecoins in the region

Tether to Launch GBPT in July, Pegged to British Pound Sterling
stablecoin

Tether to Launch GBPT in July, Pegged to British Pound Sterling

Stablecoin issuer Tether Operations Limited (“Tether”) has announced plans to launch Tether tokens (GBPT) pegged to the British Pound Sterling in early July.

Multicoin Capital's Vision for 2024: Embracing AI, Crypto, and Web3 Innovations
stablecoin

Multicoin Capital's Vision for 2024: Embracing AI, Crypto, and Web3 Innovations

Multicoin Capital's 2024 outlook highlights the transformative role of AI, stablecoins, and innovative token distribution in the crypto and blockchain landscape. The firm foresees significant advancements in remittances, social applications, and various sectors integrating crypto as a foundational element.

Stablecoin Issuer MakerDAO Invests $500m into U.S Treasuries & Corporate Bonds
stablecoin

Stablecoin Issuer MakerDAO Invests $500m into U.S Treasuries & Corporate Bonds

The move is an attempt by MakerDAO to diversify its holdings by allocating $500 million for investment in U.S. short treasuries and corporate bonds.

NYDFS Approved: Binance and Paxos New Stablecoin Collab & Paxos Gold-Backed Token
stablecoin

NYDFS Approved: Binance and Paxos New Stablecoin Collab & Paxos Gold-Backed Token

Crypto exchange giant Binance, and digital asset trust company Paxos recently announced their partnership to launch a USD-backed stablecoin. The announcement comes after the approval from the New York State Department of Financial Services (NYDPS). New York-based exchange and stablecoin operator, Paxos launched a gold-backed Ethereum-based token named Pax Gold (PAXG).

Checkout.Com Starts Accepting Stablecoins Payment, Providing 24/7 Settlement
stablecoin

Checkout.Com Starts Accepting Stablecoins Payment, Providing 24/7 Settlement

Checkout.com has launched offering stablecoins as a payment option for its merchants by using Fireblocks’ new crypto payment technology.

U.K. Treasury Proposes Ambitious Crypto Regulations
stablecoin

U.K. Treasury Proposes Ambitious Crypto Regulations

The UK Treasury labelled algorithmic stablecoins "unbacked crypto assets" rather than banning them.

Babel Finance explores new restructuring opportunities with DeFi project
stablecoin

Babel Finance explores new restructuring opportunities with DeFi project

Babel Finance is considering a new restructuring opportunity that involves the creation of a new decentralized finance (DeFi) project called Hope. This project aims to generate revenue to repay debts owed to creditors, and will mint a new stablecoin using Bitcoin and Ether as collateral.

Is the Rise of Decentralized Finance an "Illusion"? BIS Thinks so!
stablecoin

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.

Mastercard Enables USDC Spending in Asia
stablecoin

Mastercard Enables USDC Spending in Asia

Mastercard has partnered with Stables to allow retail customers in the Asia-Pacific region to spend and save USDC through its network. Meanwhile, worldwide banking turmoil has not slowed the blending of traditional and decentralized finance (DeFi). Global payment provider Mastercard has expanded its partnership with the Australian stablecoin platform, Stables, to enable retail customers in the Asia-Pacific region to spend and save USDC anywhere Mastercard is accepted. The wallet will accept deposits in several stablecoins, including Tether (USDT) and Binance USD (BUSD), with all deposits automatically converted into USDC. This move comes as worldwide banking turmoil and regulatory crackdowns continue to impact the crypto space.

Most European Regulators Have Scrutinized Facebook's Libra, Except One: Who’s the Odd One Out?
stablecoin

Most European Regulators Have Scrutinized Facebook's Libra, Except One: Who’s the Odd One Out?

Made up of more than two dozen companies and based in Geneva, a few of the founding members, including PayPal, Mastercard, Visa, Stripe, Booking Holdings, and eBay, decided to leave the Libra project. A five-member board governance board was formed after the Libra Association reaffirmed its commitment by holding its inaugural meeting in Geneva, Switzerland, on Oct. 14.

Tether Regains $1 Peg
stablecoin

Tether Regains $1 Peg

Tether (USDT) has regained its 1-to-1 peg with the dollar after briefly dropping to 94.55 cents, its lowest since December 2020.

DeFi Hackers Mint $11.6M in Stablecoins
stablecoin

DeFi Hackers Mint $11.6M in Stablecoins

Blockchain security firm PeckShield identified a hack that allowed an attacker to mint over 1 quadrillion Yearn Tether and then swap it for other stablecoins worth $11.6M. The attacker also managed to transfer 1,000 ETH to the cryptocurrency mixer Tornado Cash. DeFi protocols Yearn.finance and Aave have confirmed that their current contracts and protocols were not affected by the exploit.

Binance CEO Denies Report That Company Is Cutting Ties With US
stablecoin

Binance CEO Denies Report That Company Is Cutting Ties With US

Binance CEO Changpeng Zhao denied that the business is contemplating leaving the US on Twitter.

UK Cryptocurrency Exchanges Adapt to Enhanced Regulatory Standards
stablecoin

UK Cryptocurrency Exchanges Adapt to Enhanced Regulatory Standards

The UK is intensifying regulatory standards for crypto exchanges under the Financial Services and Markets Act, aiming for parity with traditional financial services. Exchanges must comply with stringent risk assessments and finance tests, impacting both domestic and offshore entities.

South Korea Launches “Emergency” Inspection of Crypto Exchanges Following Terra Crash
stablecoin

South Korea Launches “Emergency” Inspection of Crypto Exchanges Following Terra Crash

To boost investor protection following the recent collapse of LUNA and TerraUSD (UST) tokens, financial authorities in South Korea have beefed up crypto exchange inspections.

Circle Formally Refutes Allegations of Illicit Financing and Connections to Justin Sun
stablecoin

Circle Formally Refutes Allegations of Illicit Financing and Connections to Justin Sun

Circle denies CfA's allegations of illicit financing and Justin Sun ties, emphasizing regulatory compliance and advocating for stronger stablecoin laws, as clarified by Dante Disparte.

The Reserve Bank of India is Expanding CBDC While Dismissing Privately Issued Stablecoins
stablecoin

The Reserve Bank of India is Expanding CBDC While Dismissing Privately Issued Stablecoins

The Reserve Bank of India (RBI) is planning to increase the number of Central Bank Digital Currency (CBDC) transactions to one million per day by the end of 2023, according to Deputy Governor T Rabi Sankar.

Mastercard CEO Answers: The Reasons Behind Leaving Facebook’s Libra Association
stablecoin

Mastercard CEO Answers: The Reasons Behind Leaving Facebook’s Libra Association

Mastercard’s CEO, Ajay Banga, stated the reasons behind the company leaving Facebook’s Libra Association in an interview with the Financial Times. Having left the Libra Association in October last year alongside Visa and other firms, the Libra Association has seen eight firms quitting the project.

China’s Central Bank Digital Currency Research Unit Signs Deal with Huawei
stablecoin

China’s Central Bank Digital Currency Research Unit Signs Deal with Huawei

The Chinese central bank, People’s Bank of China’s (PBoC) Digital Currency Research Institute has signed an agreement with multinational telecommunications giant Huawei.

IMF Prioritizes Regulation over Ban on Crypto
stablecoin

IMF Prioritizes Regulation over Ban on Crypto

The International Monetary Fund (IMF) supports regulating digital money and prioritizes differentiating between central bank digital currencies and crypto assets, such as stablecoins. The IMF's Managing Director, Kristalina Georgieva, clarified that the nuclear option to ban cryptocurrencies remains on the table, but the agency would prefer to pursue good regulations, predictability, and consumer protection.

BNPL Payment Firm Afterpay Urges Senate to Support AUD-backed Stablecoins for Cutting Merchant Cost
stablecoin

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.

Tether Advances Global Blockchain Ambitions with Uzbekistan Partnership
stablecoin

Tether Advances Global Blockchain Ambitions with Uzbekistan Partnership

Tether partners with Uzbekistan's NAPP to develop blockchain and peer-to-peer telecommunication, aiming to fuel innovation and economic growth.

The Resilience of the US Dollar in Global Finance: Insights from Fed Governor Waller
stablecoin

The Resilience of the US Dollar in Global Finance: Insights from Fed Governor Waller

Federal Reserve Governor Christopher J. Waller defended the US dollar's global economic dominance, emphasizing its role as a physical currency, financial asset, and preferred unit of account.

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