Tagged: stablecoin

Basel Committee on Banking Supervision Initiates Consultation on Proposals for Treatment of Banks’ Digital Asset Exposures

The Basel Committee on Banking Supervision, the main international standard-setter for the prudential regulation of banks and provides a forum for regular cooperation on banking supervisory matters (with 45 members comprising central banks and bank supervisors from 28 jurisdictions), has initiated a public consultation on… Read More

Global Fintech Circle to Offer Competitive New Yield Product, Developed on Major Stablecoin USDC

Global Fintech Circle is now providing what it claims to be a “market-leading” Yield product developed on major stablecoin USDC. The new product is currently available for certain clients through an Early Access Program, the Circle team confirmed in a recent blog post. As mentioned… Read More

Oliver Xie: Founder at DeFi Insurance Protocol InsurAce Explains how Platform Addresses Risks from Smart Contract Vulnerabilities

  We recently connected with Oliver Xie, the Founder at InsurAce, a DeFi insurance protocol, that is introducing multi-chain insurance services on its Ethereum dApp (app.insurace.io), in order to offer insurance coverage to protocols and blockchain platforms like Ethereum, Binance Smart Chain (BSC), Huobi Eco… Read More

Recent Bitcoin, Ethereum, Wider Crypto Market Crash Was “Big Test” for Nascent Stablecoin Market: Report

The cryptocurrency market has really been tested during the past few weeks following “a cascade of negative news,” the Coin Metrics team notes in its latest report. The resulting crypto market price crash has also been “a big test” for stablecoins, which are becoming a… Read More

Japan: GMO Internet Group and INX Limited Partner on Stablecoins

INX Limited has announced a partnership with GMO-Z.com Trust Company, Inc. The collaboration aims to offer the world’s first regulated stablecoin backed by the Yen or GYEN and made available to both retail and institutional customers. INX will also be integrating GMO Trust’s USD-backed stablecoin,… Read More

Digital Asset Firm Coinbase has Unlocked Stable (Stablecoin) Pair Trading, Company Focused on Increasing Economic Freedom

Digital asset firm Coinbase (NASDAQ:COIN) announced on Monday (May 31, 2021) that it has unlocked stable (stablecoin) pair trading. Crypto exchange Coinbase says its mission is to “increase economic freedom in the world.” According to the company that recently went public, an open financial system… Read More

Tether Tops $60 Billion in “Flight to Safety”

Tether (USDt) saw its market cap top $60 billion as crypto investors sought a safe haven during the most recent crypto crash. Currently, Tether is hovering below $60 billion as crypto markets appear to be recovering and Bitcoin has bounced by over 15% in the… Read More

DeFi: Kava Labs Hard Money Market V2 to Add Support for More Digital Assets, Stablecoins

Adam Turman, Developer Support Engineer at Kava Labs, which is focused on “democratizing” financial services and making them more accessible to “anyone, anywhere” across the globe, notes that when Hard Money Market V2 was introduced on April 8, 2021, Binance USD (BUSD) had been the… Read More

Chainalysis Introduces Business Data Product to Help Digital Asset Exchanges, Fintechs with Offering Crypto Services

Chainalysis, the blockchain analysis firm, revealed on Thursday (May 20, 2021) that it has launched Chainalysis Business Data, which is described as a “first-of-its-kind” data offering to assist digital asset exchanges and other Fintechs that provide crypto-related services. Chainalysis Business Data should allow service providers… Read More

Mike Cagney from Figure Technologies Says their Blockchain Enabled Provenance Platform can Open Up Universe of Security Tokens

Figure Securities, a division of the digital lending service provider Figure Technologies, has reportedly acquired approval from the US Securities and Exchange Commission (SEC) to serve as a broker-dealer and also operate as an SEC-registered Alternative Trading System for digital securities that are custodied on… Read More

Nearly $60B in Tether (USDT) in Circulation as Largest Stablecoin Issuer Shares Detailed Breakdown of its Reserves

Tether, the world’s largest stablecoin issuer, recently published a detailed Breakdown of its Reserves. Tether Holdings Ltd has shared the breakdown of the different categories of assets that form “the basis” of Tether’s issued USDT token reserves (at March 31, 2021). Tether‘s management noted that… Read More

Digital Asset Payment Service Provider Banxa Integrates its Crypto to Fiat Gateway with Bancor

Banxa, an established payment service provider (PSP) for the crypto-asset sector, has reportedly integrated its crypto-to-fiat gateway with Bancor, a liquidity protocol enabling automated cross-chain swaps and liquidity provision to various digital tokens. Through this latest integration, Bancor users will have the option to buy… Read More

Digivault Now the First Stand-Alone Digital Asset Custodian to Get UK FCA Approval to Store Bitcoin, Ethereum, USDC

Digivault, the “secure” digital asset custody business of Nasdaq listed Diginex Limited (Nasdaq: EQOS), has reportedly become the “first” stand-alone crypto custodian to receive approval from the UK Financial Conduct Authority (FCA) in order to register as a custodian wallet provider “under the Money Laundering,… Read More

Silvergate Capital Corporation to Issue Diem Stablecoin in the US

Silvergate Capital Corporation (NYSE: SI) will partner with Diem, formerly Libra, to issue a US dollar stablecoin in the US. Silvergate is a Federal Reserve member bank and a provider of financial infrastructure solutions and services for the growing digital currency industry. Shares in Silvergate… Read More

Diem, Formerly Libra, Withdraws Application in Switzerland to Focus on US Dollar Stablecoin

In a significant twist of events, Diem, formerly Libra, has withdrawn its payment systems application in Switzerland. Diem had submitted an application to Switzerland, a crypto-friendly jurisdiction, in anticipation of launching a global cryptocurrency. The  Swiss Financial Market Supervisory Authority (FINMA) said that Diem Networks… Read More

Billionaire Mark Cuban Proposes Setting Up Ethereum Smart Contract to Bet on Cryptos vs Stock Market Performance

Peter Mallouk, President and CEO at Creative Planning, a nationally recognized “leader” in the wealth management community, recently noted that if you purchase a hundred stocks, “odds are most go up.” Mallouk also mentioned that if you buy a hundred cryptocurrencies, “most will go to… Read More

USDT Stablecoin Market Cap of $51B+ Now Exceeds Insured Deposits at Most US Banks, Quarterly Report of Tether Reserves Expected Soon

Tether (USDT), the world’s largest stablecoin (or digital asset that’s supposed to be backed 1-to-1 with major fiat currencies like USD and cash equivalents) now claims a market cap of over $51.7 billion at the time of writing (according to available data). Notably, Tether (USDT)… Read More

Circle Says Signature Bank to Hold Billions of Dollars in USD Coin Reserve Deposits

Circle, a Fintech in the stablecoin and payments sector, says it has partnered with Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial bank to hold billions of dollars in reserve deposits related to USD Coin (USDC). Circle states that the two companies are committed to… Read More

Kava Labs, which Aims to Democratize Financial Services, Reveals Kava 5, Hard V2 are Live, Supporting Fully-Functional Lending Platform

Adam Turman, Developer Support Engineer at Kava Labs Inc, which is focused on “democratizing” financial services and making them more accessible to “anyone, anywhere” across the globe, notes that Kava Labs is pleased to introduce new features and enhancements they’ve been working on recently. Turman… Read More

Bitcoin, Ethereum Active Addresses Up Considerably in Past Week, but DeFi Algorithmic Stablecoin FEI Fails at Recent Launch: Report

The team at BitOoda, a global digital asset financial technology and services platform providing “next-gen” risk management solutions, notes that Bitcoin (BTC) is up by around $8,000 since their last crypto market commentary on April 8, 2021. The BitOoda team adds that “more importantly,” Bitcoin… Read More

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