Tagged: stablecoins

March 23, 2020 @ 4:20 pm By Omar Faridi  |  

Cred, a cryptocurrency-based lending and borrowing service, is teaming up with professional NBA basketball player and businessman Spencer Dinwiddie. A special web page and service was launched on March 20, 2020 for Dinwiddie’s fans who may use the Cred platform. Cred allows users to earn… Read More

March 22, 2020 @ 6:13 pm By Omar Faridi  |  

MakerDAO, a leading Ethereum (ETH)-based decentralized finance (DeFi) platform, is currently in the process of carrying out an auction of MKR governance tokens in exchange for stablecoin Dai, in an attempt to cover around $4.5 million undercollateralized debt. On-chain (blockchain) data reveals that the Maker… Read More

March 19, 2020 @ 9:05 am By Omar Faridi  |  

Digital asset exchange Binance has introduced peer-to-peer (P2P) cryptocurrency trading options which support five major Latin American fiat currencies. Traders that use Binance’s P2P exchange will be able to purchase and sell digital currencies directly with the Argentine peso (ARS), Brazilian real (BRL), Colombian peso… Read More

March 17, 2020 @ 10:31 pm By Omar Faridi  |  

The MakerDAO community is reportedly considering the possibility of adding the USDC stablecoin as an additional type of collateral in order to provide more Dai (another major stablecoin) liquidity into the decentralized finance (DeFi) platform. MakerDAO (where DAO stands for distributed autonomous organization) is an… Read More

March 13, 2020 @ 6:50 pm By Omar Faridi  |  

MakerDAO, a leading Ethereum (ETH)-powered decentralized finance (DeFi) credit facility, is reportedly planning to conduct a MKR governance token auction within two days from now. This marks the first time that this type of event will take place in Maker’s history. The MKR auction, called… Read More

March 12, 2020 @ 7:13 pm By JD Alois  |  

Bitcoin, frequently labeled as an uncorrelated asset providing a safe harbor when more traditional investments, like stocks, have fallen down, has been crushed this week. Similar to just about everything else. Following a recent rise to over $1o,000 per BTC, the world’s most popular crypto… Read More

March 12, 2020 @ 7:15 am By Omar Faridi  |  

The Facebook-led Libra stablecoin project might now have some competition. The Celo Foundation has managed to sign up 50 organizations to its “Alliance for Prosperity” program, which aims to enable greater financial inclusion by leveraging blockchain technology and helping people transact with digital assets. Giant… Read More

March 11, 2020 @ 6:39 pm By Omar Faridi  |  

Tether Ltd., a blockchain-powered platform that powers USDT, the world’s largest stablecoin by market cap, and Aave Protocol, an open-source and non-custodial protocol, are working cooperatively in order to promote the wider adoption of USDT in the evolving decentralized finance (DeFi) industry. USDT is used… Read More

March 5, 2020 @ 5:18 pm By Omar Faridi  |  

Matrixport, a financial services firm owned by billionaire Jihan Wu, co-founder of giant crypto mining firm Bitmain, is reportedly planning to secure $40 million in capital at a post-investment valuation of $300 million. According to Bloomberg, which cited sources familiar with the matter, Matrixport’s management… Read More

March 4, 2020 @ 12:05 pm By Omar Faridi  |  

Menlo Park, California-based social media giant Facebook (NASDAQ:FB) appears to be stepping away from the controversial Libra cryptocurrency project that it introduced in June 2019. Facebook’s management says it will be creating several separate or independent virtual tokens, with each pegged or backed by different national… Read More

March 2, 2020 @ 7:40 am By Omar Faridi  |  

RippleNet, a distributed ledger tech (DLT)-enabled gross payments settlement network, allows banks and other financial institutions to securely perform cross-border transactions.  Developed by San Francisco-based Fintech Ripple, the decentralized RippleNet platform has been used to perform international transactions since 2012. The platform’s users might soon… Read More

February 28, 2020 @ 12:17 pm By JD Alois  |  

Sir Jon Cunliffe, Deputy Governor Financial Stability of the Bank of England, delivered an interesting speech this week at the London School of Economics. In a presentation entitled, “It’s Time to Talk About Money” Cunliffe tackled the hot topics of “crypto assets,” stablecoins, and central… Read More

February 26, 2020 @ 11:54 am By JD Alois  |  

During the Commodity Futures Trading Commission (CFTC), Technical Advisory Committee (TAC) meeting held today, JP Morgan (NYSE:JPM) provided some additional insight into its proposed stablecoin: JPM Coin. Eddie Wen, Global Head of Digital Markets at JP Morgan, presented an explanation of JPM Coin. Wen said… Read More

February 24, 2020 @ 1:33 pm By JD Alois  |  

The Commodity Futures Trading Commission will be holding a public meeting this week that will address several Fintech focused issues. The Technology Advisory Committee (TAC) meeting will take place on February 26, 2020, at the CFTC’s headquarters in Washington, D.C. The event, scheduled to start… Read More

February 13, 2020 @ 5:50 am By Omar Faridi  |  

Circle Internet Financial is reportedly looking for a buyer for SeedInvest, its crowdfunding division, as the Boston-headquartered crypto firm aims to focus more on its stablecoin business, according to the Block. This is notably Circle’s latest downsizing move, which began in 2019 when the firm… Read More

January 31, 2020 @ 7:56 am By Omar Faridi  |  

Hong Kong-based digital asset exchange Bitfinex has introduced margin trading for Tether gold (XAU₮). Beginning on January 30, 2020, the exchange has confirmed it will support margin trading for XAU₮ with trading pairs for major fiat currencies including the US dollar and Bitcoin (BTC). Bitfinex’s… Read More

January 31, 2020 @ 6:02 am By Omar Faridi  |  

Dr. Heath P. Tarbert, chairman and chief executive at the US Commodity Futures Trading Commission (CFTC), recently stated that he would like to see the United States lead the charge when it comes to adopting digital currencies and blockchain or distributed ledger technology (DLT). During… Read More

January 25, 2020 @ 12:04 pm By Omar Faridi  |  

The World Economic Forum (WEF) has established what it says is the world’s first ever global consortium focused on creating a framework for the transnational governance of virtual currencies, which include stablecoins (digital currencies that are usually pegged to national fiat currencies). According to a… Read More

January 20, 2020 @ 11:37 pm By Omar Faridi  |  

The Libra Association has reportedly established a five-member “Technical Steering Committee” in order to manage the ongoing development of the controversial Facebook-led stablecoin and digital payments project. The five members include Diogo Monica, co-founder at Anchorage, George Cabrera III, core product lead at Calibra (the… Read More

January 14, 2020 @ 12:30 am By Omar Faridi  |  

Ember Fund is a company that aims to fundamentally change the way people make investments in digital assets. The firm has created a technology solution that allows people to easily buy into a managed portfolio of digital currencies. The Ember Fund team intends to bring… Read More