Tagged: stablecoin

Higlobe Acquires $14M to Eliminate Global Fund Transfer Fees for the Workforce

Higlobe, Inc., the U.S. based solution for international payment transfers, raised $14 million in funding “to expand its technology and launch into new markets.” The investment round was “led by global technology investment firm Battery Ventures, an investor in a number of U.S.-based fintech companies.”… Read More

Stablecoins: Introducing USD2, a Decentralized Stablecoin on the Kadena Blockchain

The Lago DAO recently voted to pass its first proposal, “putting in motion a series of events resulting in the birth of a new decentralized digital currency: USD2.” USD2 is implemented on the Kadena blockchain via smart contracts, which are “controlled by the Lago DAO.”… Read More

Hubble Protocol Acquires $5M via Round Led by Multicoin Capital

Hubble Protocol, the home of the USDH stablecoin, recently announced the completion of a $5 million round led by Multicoin Capital, “bringing the project’s total financing to date to $15 million.” Multicoin Capital reportedly “joins previous investors DeFiance Capital, Delphi Digital, Digital Currency Group, Crypto.com… Read More

Stablecoins: Gemini Announces Support for Binance USD (BUSD)

The team at digital asset firm Gemini notes that they’re pleased to announce support for Binance USD (BUSD). BUSD is now “available for deposits and custody on Gemini.” Trading for BUSD will follow, “opening first on [their] API/FIX and ActiveTrader applications for the USD trading… Read More

House Committee on Financial Services Announces September Hearings, Stablecoins Markup on Deck

Maxine Waters, Chairwoman of the House Committee on Financial Services, has posted the calendar for September hearings with several topics of note on the list. On Tuesday, September 20 at 10 a.m. ET, the Subcommittee on National Security, International Development, and Monetary Policy will meet… Read More

USDC Stablecoin Reserve Reports Contain “New Levels of Detail”

Fiat-based stablecoins are only as good as what is backing the value. As we saw with TerraUSD, a dollar-based algorithmic stablecoin, little was there except hope and mirrors. Circle, the issuer of USDC – the second largest dollar-based stablecoin in circulation, posted an update yesterday… Read More

Huntingdon Valley Bank to Access Up to $100M of DeFi Funding via MakerDAO

MakerDAO, the “longest-standing” DeFi lending protocol and creator of DAI, the “original,” decentralized stablecoin, announced that Huntingdon Valley Bank (HVB) has been “approved to utilize a $100M participation facility, funded by a Maker Vault.” Through this development, HVB, a Pennsylvania Chartered Bank founded in 1871… Read More

Michael Shaulov: Co-founder and CEO at Fireblocks Explains Why DeFi Is the Future

In a recent interview, Michael Shaulov, Co-founder & CEO of Fireblocks– a digital asset and crypto technology provider – offered his insights into what’s happening now with DeFi, banking, and Web3. Fireblocks, which claims to be the #1 provider of digital asset and crypto custody… Read More

DAM Finance Raises $1.8 Million Pre-Seed for “Portfolio Backed Stablecoin”

DAM Finance (or dPRIME Asset Modules Finance) has raised a $1.8 million pre-seed found that was led by Digital Finance Group and Jsqare. Other investors included; Arrington Capital, Ledgerprime, D1 Ventures, 11-11 Capital, Stacker Ventures and “prominent angels within the Dotsama community.” DAM is creating… Read More

Dollar based Stablecoin HUSD Loses Peg, Recovers

HUSD, a dollar-based stablecoin, lost its dollar peg yesterday during heavy trading. HUSD is a relatively small stablecoin with a market cap of around $160 million. According to Coinmarketcap, HUSD dropped to as low as $0.8483 on August 18th. As of now, HUSD has recovered,… Read More

DeFi: Maven 11 Introduces Permissioned Pool with Maple Finance

Maven 11 has introduced a Permissioned Pool with assistance from Maple Finance. The initial pool size will be $40 million in USDC with a decent risk-adjusted return to investors. Initial participants for the pool include Flow Traders, Wintermute and Auros. The pool may issue loans… Read More

poundtoken Executive Comments on Volatility, Crypto Assets and the Metaverse

Mike Crosbie, Chief Business Officer of poundtoken (GBPT), an issuer of a British Pound-backed stablecoin, has distributed a comment on the Bank of England’s recent missives on crypto asset risks. Like other central government regulators, the Bank of England has been keenly observing the emerging… Read More

Everest Teams Up with Bitso to Support Cross-Border Payments

Bitso, the cryptocurrency platform in Latin America with over 5 million users, and Everest, the “first” licensed crypto custodian offering stablecoins, announced their partnership to provide Everest users “with the ability to receive cross-border transactions from the US, Europe, and Singapore into Mexico.” The Mexico-US… Read More

Binance Co-Founder Yi He to Lead $7.5B VC Unit

Binance, which claims to be the world’s leading blockchain ecosystem behind the largest cryptocurrency exchange, recently announced the appointment of its Co-Founder Yi He “as the new head of its venture capital (VC) arm and incubator, Binance Labs.” Binance CEO CZ (Changpeng Zhao) stated: “As… Read More

Institutional Digital Asset Lending Platform, CLST, Acquires Funding from Spartan Group, Others

CLST, an institutional-only lending and borrowing venue for stablecoins and crypto assets, has closed a seed round, led by Spartan Group, with participation from Coinbase Ventures, Kraken Ventures, GSR, Menai Financial Group, Luno Expeditions, a subsidiary of Digital Currency Group, and TX Ventures – the… Read More

Blackfridge Introduces GBP Stablecoin

Blackfridge, an Isle of Man-headquartered Fintech firm, has reportedly introduced “poundtoken”, which is described as a GBP-denominated stablecoin developed to provide seamless access to digital asset markets with convenient real-time settlement. Operating under the GBPT ticker, and offered for trading via Bittrex Global, Gate.io, as… Read More

Paxos Becomes “First” Issuer to Disclose “Full” Monthly Reserve Holdings Backing USDP, BUSD Stablecoins

Paxos, the regulated blockchain infrastructure platform, has disclosed the “specific” financial instruments backing its “regulated” stablecoins USDP and BUSD. Moving forward, Paxos will “provide these detailed disclosures on a monthly basis in addition to its attestations.” These reports “provide the CUSIP of all instruments backing… Read More

Banking Circle to Put USDC Stablecoins onto its Payment Rails

Banking Circle, the tech-first payments bank, is shifting the dial in the virtual assets market with a new service for banks and payments businesses. By adding USDC stablecoins to its payment rails for payment acceptance, processing and settlement, Banking Circle is “delivering an easy to… Read More

Circle Introduces Euro-backed Stablecoin, Euro Coin (EUROC)

Circle Internet Financial, a global internet finance firm and issuer of USD Coin (USDC), announced that it is preparing “to issue a fully-reserved, euro-pegged stablecoin from the United States called Euro Coin (EUROC).” Available June 30, Euro Coin is “a regulated, euro-backed stablecoin issued under… Read More

Stablecoin Report Explains How Confidence in Algorithmic Stablecoins Could be Restored

Algorithmic stablecoins became the “focal point” of the crypto industry in May, following the depegging of UST from the US dollar “which triggered the LUNA bloodbath,” the team at Huobi notes. The report from Huobi pointed out that this had “a knock-on effect on other… Read More

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