Tagged: stablecoin

May 19, 2020 @ 9:27 am By JD Alois  |  

The Libra Association, based in Switzerland, continues to build out its executive bench. Today, Libra has announced the selection of Robert Werner as its General Counsel. Created by Facebook (NASDAQ:FB), Libra is envisioned as a digital currency operated on a distributed ledger platform. According to… Read More

May 15, 2020 @ 1:39 pm By JD Alois  |  

Visa (NYSE:V) is going deeper into crypto it seems. Yesterday, a patent application by Visa was published on the United States Patent and Trademark Office (USTPO) website for a “digital fiat currency.” Initially filed in November 2019, the document outlines the process Visa envisions to… Read More

May 13, 2020 @ 10:45 pm By Omar Faridi  |  

MakerDAO, a leading Ethereum-based lending system, is preparing to move to a multi-collateral DAI (MCD or Dai) system. The protocol’s community has closed down the single-collateral Dai (Sai) system, as the decentralized finance (DeFi) solution gets ready for the transition. MCD had been activated on… Read More

May 4, 2020 @ 11:35 pm By Omar Faridi  |  

Maker (MKR) governance token holders have decided (through community voting) to approve a proposal which recommends adding Wrapped Bitcoin (WBTC), an Ethereum-based token backed 1-to-1 by Bitcoin (BTC), as the decentralized finance (DeFi) protocol’s (MakerDAO) newest collateral type. WBTC is an ERC-20 compliant token that… Read More

April 27, 2020 @ 10:05 am By JD Alois  |  

Crypto exchange Binance has partnered with BitPay, a provider of blockchain payment services, to “drive adoption of Binance’s stablecoin, BUSD. According to a note from Binance, BitPay will enable merchants to accept BUSD around the world. Support for BUSD in the BitPay wallet goes live… Read More

April 22, 2020 @ 10:33 pm By Omar Faridi  |  

Gnosis, a decentralized prediction market solution that spun out from Ethereum (ETH) development studio ConsenSys back in 2017, has launched a separate decentralized prediction market specifically for the Coronavirus (COVID-19) pandemic. Gnosis confirmed that it has provided $50,000 to help fund a non-profit Corona Information… Read More

April 22, 2020 @ 8:17 am By Omar Faridi  |  

The combined market capitalization of Ethereum (ETH)-powered stablecoins (digital assets pegged to major fiat currencies or other real-world assets) has surged by over 95% year-to-date. The total market cap of all ETH-based stablecoins stands at around $6.25 billion. Research conducted by The Block reveals that… Read More

April 16, 2020 @ 8:37 pm By Omar Faridi  |  

dForce, a Chinese decentralized finance (DeFi) solution provider, has secured $1.5 million in capital. The DeFi platform’s latest round was led by Multicoin Capital. Huobi Capital and China Merchants Bank International (CMBI), the investment division of one of the largest financial institutions in China, also… Read More

April 16, 2020 @ 10:34 am By JD Alois  |  

The Libra Association, Facebook’s push to create a global non-sovereign digital currency, is applying for a Payment System License from the Financial Markets Supervisory Authority (FINMA) in Switzerland. In addition to applying for the FINMA license and updating the white paper, the Libra Foundation reports… Read More

April 1, 2020 @ 11:39 pm By Omar Faridi  |  

San Francisco-based Paradigm, a digital asset investment firm, is reportedly the biggest winner of several MKR governance token auctions which were meant to cover about $4.5 million of undercollateralized debt. The auctions, which took place between March 19 and March 28, 2020, managed to raise… Read More

March 24, 2020 @ 4:12 pm By JD Alois  |  

Sygnum Bank, a licensed digital asset bank, has launched a stablecoin labeled Sygnum Digital CHF (DCHF) – a crypto tied to the Swiss Franc. This is a first stablecoin launched by a regulated Swiss bank. Sygnum also holds a capital markets services (CMS) license in… Read More

March 20, 2020 @ 8:21 am By Omar Faridi  |  

The circulating supply for Circle and Coinbase’s stablecoin, called USD Coin (USDC), has increased considerably since the beginning of this month. USDC’s market cap has jumped by about $200 million since March 1, 2020. The US dollar-pegged USDC stablecoin’s market cap presently stands at over… Read More

March 4, 2020 @ 10:13 pm By Omar Faridi  |  

MakerDAO, the leading decentralized finance (DeFi) platform, has teamed up with Simplex, a digital payment processor, in order to develop a fiat on-ramp for Maker’s Dai (DAI), which is the first decentralized stablecoin (digital currencies pegged one-to-one with major fiat currencies or other real-world assets)…. Read More

February 17, 2020 @ 2:11 pm By Omar Faridi  |  

Coinbase Commerce has added major stablecoin DAI as a new payment option for its merchant client base. As mentioned in a press release from Coinbase’s management, merchants using the Coinbase Commerce platform will be able to take payments made in the DAI stablecoin. Vendors can… Read More

February 3, 2020 @ 11:00 pm By Omar Faridi  |  

Ajay Banga, CEO at payments giant Mastercard, recently talked about why his company decided to leave the controversial Facebook-led Libra global payments and stablecoin project. Banga claims his firm doesn’t quite understand Libra’s business model. He told the Financial Times: “When you don’t understand how… Read More

January 17, 2020 @ 4:02 pm By JD Alois  |  

Tether, the stablecoin that has endured a good share of challenges, has issued a statement on pending lawsuits targeting the company. According to a release,  the plaintiffs in three class action proceedings against Tether filed a letter with the U.S. District Court for the Southern… Read More

January 7, 2020 @ 8:06 pm By Cali Haan  |  

US cryptocurrency exchange Kraken will enable trading of Circle’s USD-proxy cryptographic stablecoin, USDC, starting January 8th. Kraken says it will enable deposits and withdrawals of USDC at 14:30 UTC on January 8. “The first trades will start shortly after funding is enabled as sell orders… Read More

December 10, 2019 @ 11:23 am By Samantha Hurst  |  

Global blockchain payments provider BitPay announced on Tuesday it the rollout of stablecoin payments for merchants and consumers. BitPay reported that it now supports payment acceptance and settlement in any of three popular volatility-free stablecoins, Circle’s USD Coin (USDC), the Gemini Dollar (GUSD) and Paxos… Read More

November 9, 2019 @ 2:55 pm By Cali Haan  |  

Elvira Nabiullina, governor at the Bank of Russia since 2013, told the Russian parliament this week that she supports Fintech innovations but opposes private currencies like Facebook’s Libra because they pose a threat to financial stability. She also said she and the bank are monitoring… Read More

October 31, 2019 @ 3:30 am By Cali Haan  |  

Deputy finance ministers from France, Germany, Italy, Spain and the Netherlands have been meeting behind closed doors throughout October to devise a strategy to prevent Facebook from launching its proposed Libra cryptocurrency network among its 2.5 billion users next year. According to four sources to Politico EU,… Read More