Tagged: stablecoins

November 16, 2022 @ 8:42 pm By JD Alois  |  

This week, Jeremy Allaire, CEO of Circle – issuer of a leading dollar-based stablecoin USDC, forwarded a letter to Congressional leaders urging action on stablecoin legislation, providing rules for the industry to develop with surety. Following the collapse of FTX and the collateral damage of… Read More

November 15, 2022 @ 4:03 pm By JD Alois  |  

Apple Pay, the very popular digital wallet offering from Apple (NASDAQ:AAPL), is now available via Circle, according to a blog post. Circle stated that eligible businesses who build with Circle can now accept Apple Pay. This includes both in-App payments as well as using a… Read More

October 31, 2022 @ 2:16 pm By JD Alois  |  

DBS, a top financial services group in Asia with a presence in 18 markets and based in Singapore, has announced an initiative to create a programmable digital Singapore dollars (DSGD). The project has the defacto approval of the Singapore government which recently indicated its support… Read More

October 27, 2022 @ 9:10 am By JD Alois  |  

-Retail Investors May Be Banned from Using Leverage in Crypto Trading -Banks Allowed to Issue Stablecoins The Monetary Authority of Singapore (MAS) has proposed new initiatives aimed at mitigating risk to consumers in regard to crypto trading. At the same time, MAS has proposed new… Read More

October 24, 2022 @ 10:43 am By JD Alois  |  

There has been a lot of initial excitement surrounding the possibility of a digital dollar – a government-issued, central bank digital currency (CBDC).  The enthusiasm is primarily due to certain expectations that a CBDC will be frictionless, a low-cost currency that will help underbanked segments… Read More

October 20, 2022 @ 11:23 am By JD Alois  |  

In a move to support the adoption of USDC, the Circle issued dollar-based stablecoin, Coinbase (NASDAQ:COIN) has waived commission fees when buying or selling USDC via any fiat currency on Coinbase, “from AUD to ZAR.” USDC is the second largest stablecoin by market cap after… Read More

October 14, 2022 @ 8:57 am By Omar Faridi  |  

Tether, the issuer of the world’s largest stablecoin USDT by market cap, announced on October 13, 2022 that it has “eliminated commercial paper from its reserves, replacing these investments with U.S. Treasury Bills (T-Bills).” This announcement “comes as part of Tether’s ongoing efforts to increase… Read More

October 11, 2022 @ 9:45 am By JD Alois  |  

Payments Fintech Wirex says it has launched USDC (USD Coin) on the Stellar blockchain within its App. USDC is a dollar-based stablecoin issued by Circle and one of the most popular stablecoins in the world. Circle’s USDC assets are held in US financial institutions and… Read More

October 9, 2022 @ 10:32 pm By Omar Faridi  |  

MakerDAO, the “longest-standing” DeFi lending protocol and creator of DAI, the “original,” decentralized stablecoin, announced “the strategic investment of $500M USD (converted from $500M DAI) into a combination of US Short Treasuries and Investment Grade Corporate Bonds.” The move, which will be initiated by DeFi… Read More

October 8, 2022 @ 10:05 am By Omar Faridi  |  

Via, a global payroll platform that helps hire and pay workers anywhere in the world in compliance with all local legal regulations, announced that it has opted for Bitso, the cryptocurrency platform in Latin America, to streamline international payments for workers using the power of… Read More

October 3, 2022 @ 8:45 am By JD Alois  |  

Tether, the leading stablecoin based on the US dollar, has provided an update on the assets backing the digital currency. According to a Tweet distributed by Paolo Ardoino, Tether’s CTO, as of September 30, 2022, Tether held approximately 58.1% of assets in US Treasuries up… Read More

September 22, 2022 @ 3:23 pm By Omar Faridi  |  

Higlobe, Inc., the U.S. based solution for international payment transfers, raised $14 million in funding “to expand its technology and launch into new markets.” The investment round was “led by global technology investment firm Battery Ventures, an investor in a number of U.S.-based fintech companies.”… Read More

September 21, 2022 @ 9:31 pm By JD Alois  |  

FV Bank, a digital/digital asset bank, has integrated USDC, Circle’s dollar-based stablecoin. The new service enables account holders the ability to instantly convert USDC into US dollars at the moment of deposit. FV Bank is a US-licensed bank based in Puerto Rico where it is… Read More

September 19, 2022 @ 1:30 am By Omar Faridi  |  

The Lago DAO recently voted to pass its first proposal, “putting in motion a series of events resulting in the birth of a new decentralized digital currency: USD2.” USD2 is implemented on the Kadena blockchain via smart contracts, which are “controlled by the Lago DAO.”… Read More

September 15, 2022 @ 11:51 am By JD Alois  |  

As was reported this week, Do Kwon – the creator of TerraUSD and LUNA, has been subjected to a warrant for his arrest in South Korea. TerraUSD sought to be an algorithmic stablecoin tied to the US dollar but lost its dollar peg generating an… Read More

September 13, 2022 @ 7:07 pm By JD Alois  |  

Anchorage Digital has announced that it will provide custody services and trading for a Japanese Yen-based stablecoin GYEN. The service is being offered in partnership with GMO-Z.com Trust Company. GYEN is said to be the world’s first yen-backed stablecoin. GYEN is also said to be… Read More

September 13, 2022 @ 1:37 am By Omar Faridi  |  

Hubble Protocol, the home of the USDH stablecoin, recently announced the completion of a $5 million round led by Multicoin Capital, “bringing the project’s total financing to date to $15 million.” Multicoin Capital reportedly “joins previous investors DeFiance Capital, Delphi Digital, Digital Currency Group, Crypto.com… Read More

September 8, 2022 @ 8:40 am By JD Alois  |  

Yesterday, during a speech delivered at the Brookings Institute, Federal Reserve Vice Chairman Michael Barr, addressed the topic of risk in financial markets along with pointed criticism of stablecoins specifically. While warning about private money, Barr embraced the broader topic of innovation in financial services…. Read More

September 8, 2022 @ 7:55 am By Omar Faridi  |  

The team at digital asset firm Gemini notes that they’re pleased to announce support for Binance USD (BUSD). BUSD is now “available for deposits and custody on Gemini.” Trading for BUSD will follow, “opening first on [their] API/FIX and ActiveTrader applications for the USD trading… Read More

September 6, 2022 @ 5:22 pm By JD Alois  |  

As was reported earlier, Binance has decided to remove competing stablecoins on its exchange and replace them with its homegrown version BUSD. In a corporate statement, Binance said it would “auto convert” holdings in dollar-based stablecoins with BUSD later this month. Paxos, a regulated “blockchain… Read More