Tagged: stablecoin

May 16, 2021 @ 11:57 am By Omar Faridi  |  

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

May 14, 2021 @ 6:38 pm By Omar Faridi  |  

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

May 14, 2021 @ 7:38 am By Omar Faridi  |  

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

May 12, 2021 @ 5:05 pm By JD Alois  |  

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

May 12, 2021 @ 4:43 pm By JD Alois  |  

In a significant twist of events, Diem, formerly Libra, has withdrawn its payment systems application in Switzerland.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

May 2, 2021 @ 3:47 pm By Omar Faridi  |  

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

May 2, 2021 @ 1:20 pm By Omar Faridi  |  

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

April 19, 2021 @ 1:51 pm By JD Alois  |  

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

April 15, 2021 @ 8:00 pm By Omar Faridi  |  

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

April 14, 2021 @ 10:24 pm By Omar Faridi  |  

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

April 14, 2021 @ 8:11 pm By Omar Faridi  |  

Reserve, which claims to be a “flexible” pool of stablecoins designed to “reduce risk” via diversification strategies and “decentralized” governance, reports that during the last week of March 2021, Reserve was “the #1 most downloaded finance app” in Venezuela, and it also “surpassed 100,000 total… Read More

April 9, 2021 @ 11:55 am By Omar Faridi  |  

YIELD App, a decentralized finance (DeFi) wealth management platform, has revealed that they’ve seen “strong” growth during their first quarter of trading, with the total number of users reaching almost 26,000 as assets under management (AUM) surged to around $46 million “between week one and… Read More

April 3, 2021 @ 9:37 am By Omar Faridi  |  

Dan Burstein, General Counsel at Paxos, claims in a blog post that the company is the “most trusted” operator in the digital asset infrastructure space. Burstein explains that trustworthiness is key to their business model and overall success at Paxos. They believe that by serving… Read More

April 1, 2021 @ 9:22 am By JD Alois  |  

In a post on its site, Tether Holdings Limited said a recent assurance opinion by Moore Cayman confirms that “information in the company’s Consolidated Reserves Report is accurate.” The report, a snapshot document from February 28, 2021, indicates that at that time Tether effectively held… Read More

March 31, 2021 @ 11:10 pm By JD Alois  |  

The United Kingdom is looking to regulate the fast emerging stablecoin market before it addresses the broader crypto-asset sector, according to a report by Reuters. Citing John Glen, MP, Economic Secretary to the Treasury, who was speaking at a conference, the report indicated concern about… Read More

March 30, 2021 @ 11:53 pm By Omar Faridi  |  

The Centre Consortium, an entity established by global Fintech firm Circle and Coinbase, reports that the first quarter of this year has been one of “explosive growth” for Centre and for the USDC stablecoin, which is the world’s “most trusted” stablecoin (according to Centre Consortium)…. Read More

March 25, 2021 @ 2:09 pm By Omar Faridi  |  

Ada Vaughan, who focuses on Ecosystem and Marketing Strategy at the Stellar Development Foundation (SDF), notes that in an “increasingly cashless” and global economy, the separations between the different financial systems may lead to friction when you’re operating an international business. If you carry out… Read More

March 21, 2021 @ 9:15 pm By Omar Faridi  |  

Global Fintech firm Circle has revealed that the market capitalization for its stablecoin USDC has now exceeded $10 billion. More than 2 years after introducing the compliant and regulated “digital dollar” stablecoin, growth “continues to accelerate as shifting macroeconomic trends and exploding innovation in digital… Read More

March 6, 2021 @ 2:47 pm By Omar Faridi  |  

The majority of Goldman Sachs (NYSE:GS) clients are bullish on the future performance of decentralized cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). The giant Wall Street investment bank has shared the results of a client survey revealing that 61% of respondents believe their crypto-asset… Read More

March 5, 2021 @ 10:21 am By Omar Faridi  |  

Rachel Mayer, VP at CirclePay, notes that as non-fungible tokens (NFTs) rise in popularity, the operators or managers of NFT marketplaces and storefronts will be needing to remove entry barriers for their users. Mayer points out that more consumers in and outside of the crypto… Read More