Tagged: stablecoins

August 13, 2023 @ 10:41 pm By Omar Faridi  |  

The number of cryptocurrency-focused ETFs aiming to launch has exploded in the past two weeks, the team at NYDIG Research noted. NYDIG Research has looked at the implication of these developments, “plus the strategy one fund took to get ahead.” Fintech giant PayPal has entered… Read More

August 13, 2023 @ 5:44 pm By Omar Faridi  |  

The team at Yield App is pleased to announce that they’ve registered as a virtual asset service provider (VASP) with Italy’s Organismo Agenti e Mediatori (OAM). According to the update from Yield App, this marks a huge step in their long-term commitment to compliance with… Read More

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 10, 2023 @ 10:58 am By JD Alois  |  

There has been a lot of discussion about the US Dollar remaining the top reserve currency around the world. Having the dollar be the big dog in the realm of fiat brings a lot of benefits to the US and must be a leading policy… 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 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 7, 2023 @ 9:55 am By JD Alois  |  

PayPal (NASDAQ:PYPL), a top publicly traded Fintech, has announced the launch of a dollar-based stablecoin. According to a company statement, PayPal USD or PYUSD is a fully backed digital asset that holds cash, short-term US Treasuries, and similar assets issued in partnership with Paxos, a… 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 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 25, 2023 @ 8:22 am By JD Alois  |  

The Clarity for Payment Stablecoins Act of 2023 (HR 4766) will be discussed in a markup hearing today of the House Financial Services Committee. During the hearing, the language of the bill will be reviewed, and additional amendments may or may not be added before… 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 18, 2023 @ 4:57 pm By JD Alois  |  

The Financial Stability Board (FSB) has published its recommendations for the regulation of digital assets or crypto. The recommendations are described as follows: High-level recommendations for the regulation, supervision, and oversight of crypto-asset activities and markets; Revised high-level recommendations for the regulation, supervision, and oversight… Read More

July 13, 2023 @ 11:09 am By JD Alois  |  

Jeremy Allaire, CEO of Circle – the issuer of several stablecoins, including dollar-based USDC, has issued a public declaration demanding the US take the lead in regards to stablecoin regulation. The statement via Twitter by Allaire follows the announcement that two US Senators have revamped… 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 10, 2023 @ 8:43 am By Omar Faridi  |  

DLT Payments is officially joining the Chainlink BUILD program. As a part of BUILD, they aim “to accelerate ecosystem growth and the long-term adoption of stablecoin payments by gaining enhanced access to Chainlink’s industry-leading oracle services and technical support, as well as incentivizing greater cryptoeconomic… 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