Tagged: stablecoins

June 20, 2022 @ 12:43 pm By JD Alois  |  

Circle, the issuer of dollar-based stablecoin USDC, has published a blog post, authored by COO Elisabeth Carpenter, touting its resilience during a challenging period in the crypto markets. As certain platforms fumble or shutter redemptions, Circle is giving the all-clear sign stating that it continues… Read More

June 17, 2022 @ 8:36 am By Omar Faridi  |  

Circle Internet Financial, a global internet finance firm and issuer of USD Coin (USDC), announced that it is preparing “to issue a fully-reserved, euro-pegged stablecoin from the United States called Euro Coin (EUROC).” Available June 30, Euro Coin is “a regulated, euro-backed stablecoin issued under… Read More

June 16, 2022 @ 10:59 am By JD Alois  |  

Earlier this month, US Senators Kirsten Gillibrand and Cynthia Lummis revealed their long-anticipated legislation aiming to provide a clearcut regulatory regime for the digital asset industry. The language of the bill represents a comprehensive approach for crypto including digital securities, stablecoins, and more while selecting… Read More

June 15, 2022 @ 10:46 pm By Omar Faridi  |  

Digital asset firm Kraken recently revealed that they now support new margin pairs for Tether (USDT), USD Coin (USDC) and Dai (DAI). Margin trading is now offered via Kraken for several new pairs. You may view the complete list of supported pairs here. As covered,… Read More

June 14, 2022 @ 11:32 pm By Omar Faridi  |  

Algorithmic stablecoins became the “focal point” of the crypto industry in May, following the depegging of UST from the US dollar “which triggered the LUNA bloodbath,” the team at Huobi notes. The report from Huobi pointed out that this had “a knock-on effect on other… Read More

June 13, 2022 @ 3:47 pm By Omar Faridi  |  

Coinme, a cryptocurrency cash exchange in the U.S., and Circle, a global internet finance firm and the issuer of USD Coin (USDC), recently announced at Consensus 2022 a strategic collaboration “to integrate USDC into Coinme’s global cash onramp and offramp ecosystem.” The integration “promotes financial… Read More

June 11, 2022 @ 2:03 pm By Omar Faridi  |  

Circle has announced that they have signed agreements to acquire CYBAVO, which is a “breakthrough” crypto tech firm. Established in 2018, CYBAVO claims that it is a pioneer in core crypto security, custody, operations, and blockchain infrastructure platform services, “providing services to leading firms across… Read More

June 8, 2022 @ 2:09 pm By JD Alois  |  

The New York State Department of Financial Services (DFS) has announced new guidance on dollar-based stablecoins which are issued by firms regulated by the DFS. The guidance does not apply to USD-backed stablecoins listed, but not issued, by DFS-regulated entities. Superintendent Adrienne A. Harris commented… Read More

May 31, 2022 @ 5:56 pm By JD Alois  |  

“To provide for responsible financial innovation and to bring digital assets fully within the regulatory perimeter.” The long-anticipated legislation crypto regulation proposal emanating from US Senator Cynthia Lummis has now been posted online. First revealed by the Block, the draft legislation aims at clarifying the… Read More

May 31, 2022 @ 5:04 pm By JD Alois  |  

Tether, issuer of the world’s largest stablecoin by market cap (USDT), has launched another stablecoin – this time pegged 1 to 1 to the Mexican Peso. Tether did not provide details on how the 1 to 1 peg is managed or whether the Mexican currency… Read More

May 31, 2022 @ 11:11 am By JD Alois  |  

Wirex, a payments platform that incorporates crypto transactions, has announced the listing of a new stablecoin NXUSD by Nereus. The stablecoin is said to be “fully collateralized” or “over-collateralized.” NXUSD is an ERC-20 token utilizing the Avalanche blockchain. Collateral for the digital asset is in… Read More

May 30, 2022 @ 12:28 pm By JD Alois  |  

Speaking recently at the DC Blockchain Summit, acting Comptroller of the Currency Michael Hsu took the crypto industry to task in light of the spectacular collapse of TerraUSD (UST) – an aspiring algorithmic stablecoin that failed in its mission. Hsu lambasted the sector of Fintech… Read More

May 28, 2022 @ 6:26 pm By Omar Faridi  |  

Tether Operations Limited, the company operating the blockchain-enabled platform tether.to that “powers the largest stablecoin by market capitalization of over US $73 billion,” has launched Tether tokens (USDt) on Polygon (formerly MATIC), “a leading blockchain development platform.” The addition of Tether to the Polygon ecosystem… Read More

May 26, 2022 @ 7:36 am By JD Alois  |  

Lael Brainard, the Vice-Chair of the Board of Governors at the US Federal Reserve, will testify today at the House Committee on Financial Services on the hot topic of Central Bank Digital Currencies (CBDCs). The Fed is currently researching the viability of a digital dollar… Read More

May 21, 2022 @ 1:04 pm By Omar Faridi  |  

Following the Luna de-peg and the collapse of the UST stablecoin last week, Terra co-founder Do Kwon has unveiled a proposal for what he calls “the path forward.” This included forking the Terra chain “into a new chain without the algorithmic stablecoin, with the old… Read More

May 19, 2022 @ 10:00 am By JD Alois  |  

As TerraUSD (UST), an algorithmic stablecoin imploded going to zero, reserve-based stablecoins rushed to stem the tide of concerns about contagion. Tether (USDT), the largest stablecoin in the market, has been hit with collateral damage due to the failure of UST. At the beginning of… Read More

May 17, 2022 @ 7:54 am By Omar Faridi  |  

The crypto ecosystem is a “diverse tapestry” of tokens, protocols, projects, and applications, the team at Gemini writes in a blog post. At Gemini, they believe in making crypto “more accessible and easier to understand as the industry continues to develop ever more quickly.” Knowledge… Read More

May 12, 2022 @ 10:54 pm By JD Alois  |  

The past few weeks have been tough for investors. Both traditional markets and crypto markets have been battered. Expectations for much higher interest rates, aiming to mitigate crushing inflation, means the pain is here to stay – at least for a while. Regarding stock markets,… Read More

May 12, 2022 @ 8:51 am By JD Alois  |  

Early bird Circle CEO and founder Jeremy Allaire took to Twitter today to tout USDC, Circle’s dollar-based stablecoin while throwing shade at competitor Tether (USDT) – a competing dollar-based stablecoin. USDC/USDT is the trade of the day. Flight to quality. — Jeremy Allaire (@jerallaire) May… Read More

May 11, 2022 @ 10:10 am By JD Alois  |  

While TerraUSD (UST) has lost more than half of its dollar-pegged stablecoin value, Binance – the issuer of its own stablecoin – has published a blog post discussing the importance of fiat-backed stablecoins. As the crypto world knows, UST is an algorithmic stablecoin designed to… Read More