Tagged: stablecoin

April 21, 2023 @ 8:23 am By Omar Faridi  |  

Societe Generale–FORGE (SG-FORGE), a “fully” integrated and regulated subsidiary of Societe Generale group dedicated to digital assets, launches the EUR CoinVertible, a digital asset that purports to maintain a stable value (stablecoin). EUR CoinVertible is “deployed in Euro denomination on the Ethereum public blockchain (ticker… Read More

April 13, 2023 @ 8:46 am By Omar Faridi  |  

Jeremy Fox-Geen. Chief Financial Officer at Fintech firm Circle and Kash Razzaghi, the firm’s Chief Business Officer, have noted that digital currencies and the blockchains on which they travel can offer considerable utility “as a new, unified infrastructure for payments, commerce and capital markets built… Read More

April 9, 2023 @ 3:03 pm By Omar Faridi  |  

The team at TwoX Protocol, which claims to be a decentralized finance protocol issuing yield generative stablecoin, is pleased to announce that TwoX protocol will be “launched on Arbitrum.” Their team have been “researching & discussing which infrastructure is great fit to deploy TwoX primarily since… Read More

March 29, 2023 @ 6:44 pm By Omar Faridi  |  

Coinme, a cryptocurrency cash exchange in the U.S., and the Stellar Development Foundation, a non-profit organization that supports the development and growth of the Stellar network, announced the release of Circle’s USDC on Stellar throughout the Coinme wallet and Coinme’s global cash onramp and offramp… Read More

March 29, 2023 @ 9:26 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 approval of the Maker Constitution. Succeeding in a Governance Poll on the MakerDAO forum, The Maker Constitution will gradually “change the operations of MakerDAO,… Read More

March 24, 2023 @ 5:16 pm By Omar Faridi  |  

Crypto-asset firm Tether claims it has approximately $1.6 billion in excess reserves in order to fully back the issuance of its USDT stablecoin. Tether expects to record a $700 million profit in this latest March 2023 quarter, which will be taking its total excess reserves… Read More

March 24, 2023 @ 8:09 am By Omar Faridi  |  

  After trying to evade law enforcement for around six months, Terraform Labs CEO Do Kwon has now been taken into police custody in Montenegro. Kwon and Terraform Labs were responsible for TerraUSD, an aspiring algorithmic stablecoin, and sister crypto Luna, which collapsed last year… Read More

March 23, 2023 @ 8:27 am By Omar Faridi  |  

Telegram users are now able to send Tether’s USDT stablecoin to each other. As part of a recent notification, the messaging app provider told its users that the app’s wallet feature can support USDT-TRON, commonly referred to as the TRC-20 standard. The ability to accept… Read More

March 22, 2023 @ 11:49 pm By Omar Faridi  |  

Swiss payment startup Centi announces the launch of its Swiss Franc pegged stablecoin, backed 1:1 by a Swiss bank, which will “serve as the basis for Centi’s groundbreaking Global Payment Network.” Combining the efficiency of blockchain technology with the rigor of Swiss banking, Centi has… Read More

March 22, 2023 @ 10:33 pm By Omar Faridi  |  

Arf, the Swiss-regulated global settlement banking platform, with support from the Stellar Development Foundation, is now offering what it claims is “the world’s first unsecured, short-term, USDC-based working capital financing solutions for licensed financial institutions.” Making cross-border payments faster, cheaper, and more transparent and inclusive… Read More

March 21, 2023 @ 9:59 am By JD Alois  |  

Xapo Bank says it is the first regulated bank to accept USDC deposits and withdrawals. Issued by Circle, USDC is the second largest stablecoin by market cap, pegged to the US dollar. Xapo Bank is regulated and based in Gibraltar. Xapo Bank states that USDC… Read More

March 19, 2023 @ 2:50 pm By Omar Faridi  |  

Juniper Research specializes in identifying and appraising new high-growth market sectors within the digital ecosystem. They provide market research covering 90 technology markets. Their research reports form the basis on which their analysts make various predictions. As noted in an update shared by Juniper Research,… Read More

March 18, 2023 @ 2:57 pm By Omar Faridi  |  

National Australia Bank (NAB) has completed an intra-bank cross-border transaction using NAB-issued stablecoin, which represents a “world-first” by a major financial institution on a layer-one public blockchain. This pilot transaction on the public and permissionless Ethereum blockchain “involved deployment of stablecoin smart contracts for seven… Read More

March 16, 2023 @ 10:19 am By JD Alois  |  

Circle, the issuer of dollar-based stablecoin USDC, was hammered when it was announced that the Fintech held $3.3 billion at Silicon Valley Bank (NASDAQ:SIVB). For a long minute, things looked a bit dire. That reversed when the federal government decided to back all deposits –… Read More

March 6, 2023 @ 4:55 pm By JD Alois  |  

On March 3rd, WSJ.com filed a report on Tether, once again alleging malfeasance at the firm that is the largest issuer of a dollar-based stablecoin USDT. According to the report, a USDT trader in China was attempting to use fake documents to maintain access to… Read More

February 28, 2023 @ 11:09 am By JD Alois  |  

Following the news that Coinbase would list EUROC, Circle’s euro-based stablecoin, Bittrex has announced that it will offer the digital asset on its platform, including a fee-free promotional period to boost utilization. Bittrex noted that it would include the no-fee promotion for customers transacting with… Read More

February 13, 2023 @ 11:47 am By Omar Faridi  |  

Paxos, the regulated blockchain and tokenization infrastructure platform, announced it will end its relationship with Binance “for the branded stablecoin BUSD.” Effective February 21, Paxos will “cease issuance of new BUSD tokens as directed by and working in close coordination with the New York Department… Read More

February 5, 2023 @ 9:45 pm By Omar Faridi  |  

We recently caught up with Dr. Torsten Stüber, Co-Founder and CTO at Berlin-based Pendulum, an initiative focused on traditional finance infrastructure blockchain solutions, which is “the missing link between fiat and DeFi.” Pendulum is an open-source blockchain built on the “proven” Parity Substrate framework, establishing… Read More

February 5, 2023 @ 1:50 pm By Omar Faridi  |  

The Hong Kong Monetary Authority (HKMA) issued the consultation conclusion to the discussion paper on crypto-assets and stablecoins (the “Consultation Conclusion”), summarizing the feedback “received in relation to the paper and the HKMA’s response.” In the Consultation Conclusion, the HKMA proposes “to bring certain activities… Read More

February 4, 2023 @ 10:14 am By Omar Faridi  |  

Finnish Fintech company Membrane Finance has launched EUROe – Europe’s “first” and “only” EU-regulated full-reserve stablecoin and payment network. EUROe transforms “a fiat Euro into a 1:1 pegged digital currency transactable on Ethereum, with planned support for an increasing number of blockchains.” One EUROe is… Read More