Tagged: usdc

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 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 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 13, 2023 @ 3:57 pm By JD Alois  |  

Circle’s dollar-based stablecoin USDC lost its dollar peg last week after the firm revealed that $3.3 billion in reserves were locked up at Silicon Valley Bank (NASDAQ:SIVB). At one point, USDC dropped by around 12% as holders ran for the exits. After the US government… Read More

March 13, 2023 @ 11:23 am By JD Alois  |  

Following the announcement last night by federal regulators that all deposits at Silicon Valley Bank (NASDAQ:SIVB) would be guaranteed, Circle CEO issued a statement on the company’s dollar-based stablecoin, USDC, as any risk was eliminated from Circle’s relationship with SVB. As was reported last week,… Read More

March 11, 2023 @ 12:41 pm By JD Alois  |  

Circle’s dollar-based stablecoin USDC has lost its dollar peg following the revelation that $3.3 billion in cash reserves are still held at failed Silicin Valley Bank. According to Coinmarketcap, USDC traded at less than $0.88 – losing about 12% of its value following the news…. Read More

February 23, 2023 @ 12:04 pm By JD Alois  |  

Coinbase (NASDAQ:COIN) has added Euro Coin (EUROC) as a stablecoin option to its marketplace. Trading availability will commence on February 27, 2023 – “if liquidity conditions are met.” In a series of Tweets, Coinbase said it was adding support for EUROC with the Experimental label,… Read More

February 21, 2023 @ 9:31 am By JD Alois  |  

The stablecoin market has emerged as a big target for US regulators. Following the news that BUSD, Binances’s dollar-based stablecoin managed by Paxos, was being targeted by regulators, industry observers began to wonder which shoe would drop next. According to crypto analyst firm Nansen, wallets… Read More

January 26, 2023 @ 12:06 pm By Omar Faridi  |  

Milo, a financial technology company that is reimagining the way crypto and global consumers access financial solutions, announced the launch of its new crypto loan product. This launch means that digital asset-holders will now have the opportunity “to use their cryptocurrency as collateral to access… Read More

December 16, 2022 @ 8:07 pm By Omar Faridi  |  

MoneyGram (NASDAQ: MGI) is pleased to support our partners at the Stellar Development Foundation (SDF) on the launch of Stellar Aid Assist, which is described as “a first-of-its-kind blockchain-powered aid disbursement system that delivers relief funds quickly, affordably and efficiently to individuals in crisis.” As… Read More

December 9, 2022 @ 9:25 am By JD Alois  |  

Coinbase (NASDAQ:COIN), the top crypto exchange in the US, has posted a statement telling customers to migrate from Tether – USDT, to USDC – the dollar-based stablecoin issued by Circle. In the post’s headline, Coinbase calls USDC “trusted and reputable,” insinuating that Tether is, well,… Read More

November 21, 2022 @ 11:39 pm By Omar Faridi  |  

Bigo Live, which claims to be one of the world’s fastest-growing social live streaming platforms, has enabled their users to top up accounts by paying “with cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and USD Coin (USDC).” Powered by licensed crypto payment gateway TripleA,… Read More

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

November 9, 2022 @ 10:46 am By JD Alois  |  

Jeremy Allaire, the CEO and founder of Circle – the issuer of dollar-based stablecoin USDC, has posted on Twitter his thoughts on the FTX – Binance drama. The rapid collapse of FTX, and the need to beg for a bailout by Binance, has called into… Read More

October 27, 2022 @ 9:36 am By JD Alois  |  

In a seismic shift of consolidation, StartEngine has announced the acquisition of SeedInvest. While exact terms were not immediately available, StartEngine stated that Circle (owner of SeedInvest) will become a minority shareholder of StartEngine. StartEngine is one of the largest investment crowdfunding platforms in the… 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 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