Tagged: stablecoin

August 12, 2023 @ 11:21 am By Omar Faridi  |  

Binance Labs, the venture capital and incubation arm of Binance, has committed 10 Million USD to Helio Protocol, a project “combining over-collateralized lending of its native decentralized stablecoin, HAY, with staking-as-a-service (StaaS) and LSDfi infrastructure, with approximately combined 300 million USD in total value locked… Read More

August 9, 2023 @ 12:15 pm By Omar Faridi  |  

On July 30th, 2015, the Genesis block of Ethereum was created. Eight years later, today Ethereum is the dominant blockchain network “with growing developer interest, lower transaction fees, and faster settlement times.” Yet, fewer than 0.5% of the 100 million developers worldwide “are actively building… Read More

August 9, 2023 @ 11:40 am By JD Alois  |  

Num Finance and TruBit have announced a partnership where Num’s “nARS” stablecoin, pegged to the Argentine Peso, will trade on the exchange. Num states that the listing on TruBit is part of a broader strategy to offer a wider range of tools for its users…. Read More

August 8, 2023 @ 8:55 am By Omar Faridi  |  

Jeremy Allaire, Co-founder & CEO of Circle, a Fintech that’s focused on stablecoins and other services supporting the blockchain and crypto sector, says that despite the hype that they’re all about the US, the firm “estimates that 70% of USDC adoption is non-US, and some… Read More

August 8, 2023 @ 8:51 am By Omar Faridi  |  

Bitwage is pleased to announce the integration of Tether USDT via TRON network, marking another significant milestone in their journey “to deliver seamless cross-border and multi-currency services.” This addition to their stablecoin options “reaffirms their commitment to offering enhanced liquidity, efficiency, and convenience to our… Read More

August 6, 2023 @ 2:34 pm By Omar Faridi  |  

The researchers at Coin Metrics have shared an update, titled, “Decoding the Digital Dollar: Unraveling the Risks of Stablecoins.” Lucas Nuzzi and Kyle Waters from Coin Metrics have noted that earlier this month, the U.S. House Committee on Financial Services convened “to discuss proposed legislation,… Read More

July 31, 2023 @ 11:08 am By JD Alois  |  

Tether has issued a report that claims over $3.3 billion in excess reserves after an increase of $850 million at the end of Q2 2023. Tether states that the assurance opinion was completed by BDO, which re-affirms Tether’s Consolidated Reserves Report (CRR), which breaks down… Read More

July 28, 2023 @ 3:25 pm By Omar Faridi  |  

First Digital Group, which includes First Digital Trust, one of Asia’s leading qualified custodians and a registered trust company headquartered in Hong Kong, announces that its stablecoin, First Digital USD (FDUSD), “issued under the entity FD121, will debut and list on Binance, the world’s largest… Read More

July 28, 2023 @ 8:45 am By Omar Faridi  |  

The Republic of Palau and Ripple have launched a limited stablecoin pilot. Palau and Ripple, the leader in enterprise blockchain and crypto solutions, started collaborating on exploring potential use cases in 2021. The U.S. Dollar-backed Palau Stablecoin (PSC) will be “issued on the XRP Ledger… Read More

July 27, 2023 @ 2:24 pm By Omar Faridi  |  

Credix, with support from Clave, launched a “first-of-its-kind,” fully insured receivables pool. Inaugural investors include the Solana Foundation and Keyrock. The receivables pool offers an investment opportunity “to accredited investors seeking up to a double-digit yield while insuring credit risk.” More specifically, the pool, “which… Read More

July 20, 2023 @ 5:12 am By Omar Faridi  |  

Shinhan Bank, SCB TechX, and an unnamed financial institution in Taiwan have announced the successful completion of a stablecoin remittance proof-of-concept (PoC) pilot, according to a release. The PoC was reportedly built on the Hedera network, a high-performance blockchain. The pilot was said to have… Read More

July 13, 2023 @ 7:44 am By Omar Faridi  |  

A study from Juniper Research, the researchers focused on emerging payments, have found that the value of payment transactions powered by stablecoins “will exceed $187 billion globally by 2028, up from $53 billion in 2023.” The study found that stablecoins are “making rapid progress in… Read More

July 8, 2023 @ 10:07 am By Omar Faridi  |  

Jeremy Allaire, the  Co-founder & CEO of Circle, which helps businesses and developers harness the power of USDC for payments and commerce, reveals that they quietly released the first major milestone of Circle Web3 Services into production beta this week. We quietly released the first… Read More

July 4, 2023 @ 8:19 am By Omar Faridi  |  

Kraken recently revealed that it now supports the deposits and withdrawals of TrueUSD (TUSD) on the Tron Network. As explained by Kraken, Tron is a blockchain platform “where developers can deploy their own decentralized applications (dApps).” Tron is powered “by delegated proof-of-stake (DPoS), a system… Read More

June 28, 2023 @ 9:00 am By JD Alois  |  

Digital asset firm Paxos has inked a deal to provide Mercado Pago with access to the stablecoin Pax Dollar (USDP). The Pax Dollar will now be available to Mercado Pago’s users in Mexico. Paxos shares that over 60 percent of its active wallets are currently… Read More

June 25, 2023 @ 12:30 pm By Omar Faridi  |  

MakerDAO, which claims to be the “longest-standing” DeFi lending protocol and creator of DAI, the original decentralized stablecoin, has announced that it has “completed the purchase of an additional $700 million worth of US treasuries, bringing the value of its total bond allocation to $1.202… Read More

June 24, 2023 @ 11:11 am By Omar Faridi  |  

PostFinance wants to drive the development of a digital franc and is entering into partnership with Swiss Stablecoin Ltd for this purpose. As part of a joint proof of concept, a digital image of the Swiss franc “will be released for specific use cases and… Read More

June 23, 2023 @ 11:06 am By Omar Faridi  |  

Xapo Bank, a “fully licensed” private bank that combines traditional banking with the utility of Bitcoin and stablecoins, announced that it will begin accepting members across South Asia, including India, “making its full suite of hybrid banking services and the financial opportunities they present accessible… Read More

June 23, 2023 @ 7:20 am By Omar Faridi  |  

Currently, cross-border payments are a “hassle” for many small and mid-sized enterprises with international business partners, the team at German software firm SAP notes in a blog post. The team at @SAP is now testing cross-border payments for their customers with $USDC.https://t.co/QrMHHATsUb pic.twitter.com/mTHWbJde3a — Peter… Read More

June 14, 2023 @ 2:21 pm By Omar Faridi  |  

Gordon Liao from Circle Internet Financial and Thomas Hadeed noted in a study titled, Beyond Speculation: Payment Stablecoins for Real-time Gross Settlements, that  empirical evidence shows “a notable shift in the usage of stablecoins, a form of digital currency transacted over distributed ledgers, in recent… Read More