Tagged: stablecoin

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

June 9, 2023 @ 2:59 pm By Omar Faridi  |  

MEV Capital Management Ltd. is launching a new digital asset hedge fund “MEV Capital Stablecoin High-Yield Fund SP”, a Cayman Islands fund that “encompasses on-chain operations to on the public Ethereum Blockchain (incl. ZK-related L2s).” The fund deploys and monitors trend-agnostic strategies “based on digital… Read More

June 6, 2023 @ 2:57 pm By Omar Faridi  |  

Tether, the company operating the fintech platform tether.to that powers the first and most “widely used” stablecoin in the world, announced it “has participated in the first round of a new billion dollar renewable energy initiative in El Salvador.” Following on its mission to invest… Read More

June 5, 2023 @ 8:24 am By Omar Faridi  |  

Xapo Bank, a fully licensed private bank that combines traditional banking with access to Bitcoin and stablecoins, announced an integration with the single euro payments area (SEPA) network, allowing members the seamless movement of funds in Euros (EUR). First introduced in 2008 and comprising 36… Read More

June 4, 2023 @ 7:58 pm By Omar Faridi  |  

Tether, the company operating the blockchain-enabled platform tether.to that powers the first and most “widely used” stablecoin, has reportedly “surpassed its previous all-time market cap high of $83.2B set in May 2022.” Paolo Ardoino, CTO of Tether, stated: “Today’s numbers demonstrate that people want access… Read More

May 30, 2023 @ 3:47 pm By Omar Faridi  |  

The WOO token can now be staked “across seven chains to earn USDC on Arbitrum from WOOFi swap fees.” As noted in a blog post, WOOFi Stake 1.0 was “born on BNB Chain back in December 2021 and quickly grew in TVL as WOO stakers… Read More

May 30, 2023 @ 11:33 am By Omar Faridi  |  

Euro Coin, or EUROC, launched on Ethereum in 2022 in order “to provide businesses and developers with a fully reserved, euro-backed stablecoin they can trust.” Euro Coin helps unlock new opportunities “for global commerce, faster and more efficient FX, and greater access to the euro… Read More

May 25, 2023 @ 8:41 am By Omar Faridi  |  

Num Finance, which claims to be the “premier” issuer of local stablecoins in Latin America, announced it has “raised $1.5 million following the closure of its pre-seed funding round led by Reserve.” Investors in the round also “included H20 Scouter Fund, VC3, Ripio Ventures, and… Read More

May 21, 2023 @ 10:28 am By Omar Faridi  |  

With more than 90% of countries exploring, developing and implementing Central Bank Digital Currencies (CBDCs) as a way to increase financial inclusion and lower the cost and risk of domestic and cross-border payment processes, Ripple is announcing the Ripple CBDC Platform, which is described as… Read More

May 18, 2023 @ 8:08 am By JD Alois  |  

Top dollar based stablecoin issuer Tether says it will take its operating profits and purchase Bitcoin. Tether said that it first manages reserves but the purchase of Bitcoin, the worlds most popular crypto, will further strengthen reserves. The purchases of Bitcoin will commence this month… Read More

May 10, 2023 @ 8:40 am By Omar Faridi  |  

Xapo Bank, a licensed private bank that aims to combine traditional banking with access to Bitcoin and stablecoins, claims to have become the first bank in the world to integrate Tether (USDT) payment rails. Xapo Bank is regulated and based in Gibraltar. Earlier this year,… Read More

May 9, 2023 @ 7:53 am By Omar Faridi  |  

MakerDAO, which claims to be the “longest-standing” DeFi lending protocol and creator of DAI, the original decentralized stablecoin, has announced the official launch date of Spark Protocol, a MakerDAO-centric decentralized application. Starting from May 9th, Spark Protocol will “serve as the underlying infrastructure for Spark… Read More

April 30, 2023 @ 5:28 pm By Omar Faridi  |  

Etherisc, the open-source, “decentralized” insurance protocol and ecosystem, has launched the first-of-its-kind USDC depeg protection cover to the public. As a peer-to-peer parametric product, customers “receive automatic payouts should the price of the USDC stablecoin fall below its $1 USD pegged value by 0.5% for… Read More