stablecoin

Major cryptocurrency exchange Binance announced it will cease support for all Binance USD (BUSD) products starting on Dec. 15 following Paxos halting the minting of new coins.In a Nov. 29 notice, Binance said users should withdraw or convert their existing BUSD on the exchange into other a ...

Crypto firm Paxos has secured in-principle approval from Abu Dhabi’s regulator on two fronts: to issue stablecoins and conduct digital asset services.In a Nov. 29 announcement, Paxos said the Financial Services Regulatory Authority in the Abu Dhabi Global Market had granted in-principle ap ...

As an integral part of Techstars, a global seed accelerator known for its significant investments in over 250 Web3 startups, Pete Townsend offers a unique perspective on what it takes to succeed in this rapidly evolving space.His expertise spans from identifying promising startups f ...

Circle, the stablecoin issuer behind USD Coin (USDC), is teaming up with Tokyo-based financial services firm SBI Holdings to boost the adoption of USDC and Web3 services in Japan.Circle said it concluded a memorandum of understanding (MOU) with SBI Holdings on Nov. 27, which will underpin ...

Ether (ETH) price is trading slightly higher on Nov. 23, maintaining support above the $2,000 level after briefly retesting $1,930 on Nov. 21. Over the past week, Ether's price has increased by 2.5%, while the total market capitalization has grown by 0.5%. This uptrend can be attributed to improv ...

President-elect of Argentina Javier Milei ran on a promise of economic change. The shape of the transformation will only become known after his inauguration on Dec. 10, but stablecoins will play an important role in Argentinians’ financial lives no matter what happens, Ripio CEO Sebasti&aac ...

Amid ongoing campaigns for the elections in 2024, many United States lawmakers have not sealed the deal on legislation aimed at establishing regulatory clarity on aspects of the digital asset space, including stablecoins.Speaking with Cointelegraph at the North American Blockchain Summit o ...

A New Zealand dollar-pegged stablecoin has gone live through a partnership with New Zealand crypto exchange Easy Crypto and Australian blockchain development firm Labrys.In a Nov. 22 announcement, Labrys and Easy Crypto said the NZDD will be backed 1:1 with cash in trust and regulated by t ...

Tether’s bank partner Britannia Financial is reportedly facing a lawsuit over claims it failed to pay the full price of revenue-generating assets allegedly related to a large deposit from Tether.Arbitral International, a company registered in the British Virgin Islands, has sued Britannia ...

Stablecoin issuer Tether froze roughly $225 million worth of USDT tokens as part of an investigation into a Southeast Asia human trafficking syndicate launched by the United States Department of Justice (DOJ). In a Nov. 20 announcement, Tether said it had worked with the DOJ and crypt ...

Stablecoins lack crucial mechanisms that guarantee money market stability in fiat, and an operational model that gave regulatory control to a central bank would be superior to private stablecoin, a study released by the Bank for International Settlements (BIS) found. The authors used a &ld ...

Tether is planning a large-scale expansion into Bitcoin (BTC) mining, according to Paolo Ardoino, who is expected to take the helm at the company soon. The stablecoin firm may spend around $500 million in the next six months on the construction of mining facilities and investments in ...

Crypto infrastructure firm Paxos has secured in-principle approval from Singapore’s regulator for a new entity that’s planning the launch of a U.S. dollar-backed stablecoin.In a Nov. 15 statement, Paxos said it received an initial nod from the Monetary Authority of Singapore (M ...

Tether (USDT), the largest stablecoin by market value, has been breaking new records over the course of 2023, with its market capitalization adding at least $20 billion so far this year.According to data from the blockchain data provider Whale Alert, Tether has minted 22.75 billion USDT so ...

Major stablecoin issuer Tether has been increasingly minting new USDT (USDT) tokens, issuing 4 billion USDT over the past month.Tether issued another 1 billion of Tether on the Tron blockchain on Nov. 10, the blockchain data provider Whale Alert reported. The latest USDT minting came just ...

The Progmat Coin ecosystem is taking shape in Japan. With a market maker, wallet provider and cryptocurrency exchanges on board, Progmat and Mitsubishi UFJ Financial Group (MUFG) hope to launch two stablecoins in the summer of 2024.Stablecoin platform Progmat Coin, MUFG and wallet provider ...

The Bank of International Settlements (BIS), a coalition of the world's central banks, criticized stablecoins as being "not a safe store of value" in its latest research report dated Nov. 8.In outlining its reasons, the BIS explained that from January 2019 to September 2023, fiat-backed st ...

The aim of the new liquidity guidelines is to ensure that the stablecoin can be quickly redeemed even during turmoil market conditions to avoid the risk of any bank runs and contagion in a crisis situation.Under the proposed liquidity guidelines, stablecoin issuers must offer any stablecoi ...

USD Coin (USDC) issuer Circle is contemplating an initial public offering (IPO) in early 2024, according to Bloomberg.A Nov. 7 Bloomberg report citing people with knowledge of the matter said the stablecoin issuer is talking to its advisers about the move but there’s no certainty the ...

The NEAR Foundation and Aurora allegedly reneged on an offer to convert $11 million worth of USN stablecoins, Wintermute founder and CEO Evgeny Gaevoy has claimed.In a Nov. 7 X (Twitter) post, Gaevoy claimed NEAR refused to honor a commitment to facilitate the sale of $11.2 million worth o ...

Moody’s Analytics is launching a new stablecoin service that will use AI to predict probable depeggings “in a 24-hour time horizon” while providing real-time insights about stablecoin issuers’ liquidity and stability.The stablecoin market is getting stabler, Moody&r ...

A suite of documents was published in the United Kingdom on Nov. 6 that concern stablecoin regulation. The Financial Conduct Authority (FCA) released a discussion paper, as did the Bank of England (BOE). To accompany those, the BOE’s Prudential Regulatory Authority (PRA) released a letter t ...

Payment giant PayPal has received a subpoena from the United States Securities and Exchange Commission (SEC) regarding its U.S. dollar-pegged stablecoin.The Enforcement division of the SEC has sent a subpoena to PayPal related to its PayPal USD (PYUSD) stablecoin, the firm disclosed on Nov ...

Tether (USDT) stablecoin issuer is raising the bet on Bitcoin (BTC) mining by issuing a major debt facility to German-based BTC mining company Northern Data AG.Northern Data AG has secured a 575 million euro ($610 million) debt financing facility from Tether to drive further investments ac ...

Bitcoin (BTC) is at 17-month highs with just 164 days until the next Bitcoin halving event, alongside anticipation of a spot Bitcoin exchange-traded fund (ETF) approval in the coming months.Yet, amid Bitcoin’s 106.38% year-to-date gains, the stablecoin supply rate oscillator ...

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The reserves for stablecoin issuer Tether contained approximately 86% cash and cash equivalents as of September 30, according to a new attestation report from accounting firm BDO. This is the highest percentage of cash and cash equivalents that have ever made up Tether’s reserves. ...

The rise of digital currencies, exemplified by Bitcoin (BTC), brought a groundbreaking shift in the financial landscape. However, it also brought to light a critical challenge: price volatility. Bitcoin and many other early cryptocurrencies exhibited extreme price fluctuations, making ...

The trial of payment platform developer Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, and seven others got underway in Seoul Southern District Court in South Korea on Oct. 30, according to local news reports. Shin is accused of defrauding investors. Also at issue was wheth ...

The United Kingdom government presented an update on its plans to regulate fiat-backed stablecoins. The document, published on Oct. 30, aims to facilitate and regulate the use of fiat-backed stablecoins in U.K. payment chains.According to the document, His Majesty’s Treasury intends to int ...

Stablecoins are essential to cryptocurrency markets, and traditional payment systems, especially cross-border ones, can also benefit from them. Edelcoin sets a new standard for stablecoins, offering low volatility, inflation protection, and zero reserve investment risk. Its verified reserv ...

Stablecoin Tether (USDT) has seen a significant surge in adoption in Brazil, accounting for 80% of all cryptocurrency transactions in the country, according to data from Brazil’s revenue service agency. As of mid-October, USDT transactions in Brazil this year amounted to $271 billion ...

The Federal Reserve Board continues to research a central bank digital currency (CBDC), or at least adjacent technologies, vice chair Michael Barr said on Oct. 27. He also touched on stablecoins at the Economics of Payments XII Conference where his English colleague Sir Jon Cunliffe made his last ...

Tether Holdings, the issuer of the world’s largest stablecoin by market capitalization, Tether (USDT), is reportedly preparing to update the frequency of releasing its reserve data reports.Paolo Ardoino, Tether’s chief technical officer and upcoming CEO, disclosed that the firm plans to st ...

Bitcoin layer-2 infrastructure firm Lightning Labs has released the mainnet alpha of Taproot Assets, a protocol aimed at enabling stablecoins and real-world assets to be issued on the Bitcoin and Lightning Network.The current version, Taproot Assets v0.3, will provide a “feature ...

Federal Reserve Board governor Michelle Bowman shared her views on financial innovation in a speech at Harvard Law School on Oct. 17. Bowman has spoken several times on the topic, and her position seems to be growing more bearish. Bowman spoke at length about central bank digital curr ...

Cryptocurrency exchange Binance.US has updated its terms of service, hinting that direct withdrawals in the U.S. dollar are no longer supported on the platform.Binance.US updated its terms of service on Oct. 16, significantly modifying the section about the “BAM Fiat Wallet,” r ...

The Bank of Canada published a staff note on decentralized finance (DeFi) on Oct. 17, assessing the innovations that made it popular and the challenges and risks associated with its use.The staff note described DeFi as a multi-layered structure, with the Ethereum blockchain serving as ...

Stablecoin TrueUSD (TUSD) announced a potential leak of certain Know Your Customer (KYC) and transaction history data as one of TrueCoin’s third-party vendors got compromised. TrueCoin was the operator of the TUSD stablecoin till July 13, 2023. On Oct. 16, a third-party vendor&r ...

The supply of Tether (USDT) on cryptocurrency exchanges has reached its highest level since March, according to data from crypto analytics platform Santiment. The amount of USDT currently sitting on exchanges is approximately $9.99 billion, marking a 40% increase since June 13, 2023. This increas ...

The United States Federal Reserve Bank vice chairman spoke at the Philadelphia Fed’s fintech event on Sept. 8 about the central bank's role in financial innovation. Research and supervision was the short answer and a nod to the FedNow Service.Along with the standard disclaimer about ...

The Hong Kong Web 3.0 Association is advocating for the advancement of digital assets in the region by recommending key policies and measures. The association, led by President Chen Delin, presented a proposal aimed at fostering digital asset growth as part of its policy address recommendations. ...

Palau, a country in the western Pacific Ocean, is wrapping up its U.S. dollar stablecoin project after launching the pilot in August.Jay Hunter, Palau Ministry of Finance member and head of digital residency program, took to X (formerly Twitter) to announce that the government will cease t ...

Bitcoin (BTC) price action suggests that the asset remains in a precarious position and a recent report from ARK Invest said that short-term Bitcoin investors had no choice but to capitulate in August as the percentage of Bitcoin supply in profit fell by 14 percentage points. Bitcoin mar ...

Circle’s USD Coin (USDC) has launched natively on both Base and Optimism networks, allowing Circle account holders to send USDC stablecoin from their accounts to Base or Optimism. Coinbase has also made USDC transfers to Base available, according to a Sept. 5 social media post. Circle claim ...

Stablecoin issuer Tether has become one of the top buyers of United States Treasury bills in the world, according to a post by Tether CTO Paolo Ardoino. In a social media post, Ardoino highlighted that Tether currently has an exposure of $72.5 billion in US T-bills. The amount places ...

Australia’s Senate Committee on Economics Legislation has finally provided feedback to the cryptocurrency bill introduced by senator Andrew Bragg.The committee on Sept. 4 reported on the draft bill referred to as “The Digital Assets (Market Regulation) Bill 2023,” asking the bill authors t ...

MakerDAO co-founder Rune Christensen has submitted a proposal to build the decentralized finance project’s upcoming native chain off of a fork of Solana’s codebase, and not the Ethereum Virtual Machine despite its long-running ties with Ethereum. MakerDAO’s native chain o ...

Crypto exchange Binance has encouraged users to start converting their Binance USD (BUSD) stablecoin holdings into a newly listed stablecoin amid plans to wind down support for BUSD. In an Aug. 31 statement from Binance, the crypto exchange confirmed prior speculation that it will gra ...

Tether, the stablecoin issuer behind USDT, has reportedly added Britannia Bank & Trust, a private bank based in The Bahamas to process dollar transfers on its platform.It is understood Tether has instructed clients to send money to Britannia’s bank account over the last few months, acc ...

Fintech company Circle announced a partnership with Mercado Libre to bring the USDC stabelcoin to Mercado Pago on Aug. 29. 1/ The largest fintech in LATAM, @mercadopago ...

Circle’s United States dollar stablecoin, USDC, will launch natively on the Base network “next week,” according to an Aug. 29 social media post from CEO Jeremy Allaire. The new version will replace the current US Dollar Base Coin (USDbC) that most users rely on as a substitute. ...

PayPal recently released stablecoin PayPal USD (PYUSD) is facing challenges gaining traction, on-chain data reveal. According to findings from blockchain analytics firm Nansen, roughly 90% of PYUSD is currently held in stablecoin issuer Paxos Trust's wallets. Holdings on crypto exchange wallet ...

Two months after becoming a crypto-only platform, Binance.US has announced a new partnership with crypto payments firm MoonPay to allow users to buy the U.S. dollar-pegged stablecoin Tether (USDT) to use on its platform. The crypto exchange announced on Aug. 22 that USDT was being adopted as the ...

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. Over two weeks after Curve Finance’s multiple pool exploits, the DeFi protocol has assured the hack victims t ...

Cryptocurrency exchange Bybit said it is ready to open spot trading with the PayPal USD (PYUSD) stablecoin in the near future. According to the exchange's statement, users can already make deposits in PYUSD, and the issue of listing the steiblcoin is already being addressed. Deposits and withd ...

The companies have partnered. The agreement will see PayPal integrated into Ledger Live. Users of the app in the U.S. will be able to buy bitcoin, ether, BCH and LTC directly from a currency account, Ledger noted. Hardware wallet maker Ledger has anno ...

The companies have partnered. The agreement will see PayPal integrated into Ledger Live. Users of the app in the U.S. will be able to buy bitcoin, ether, BCH and LTC directly from a currency account, Ledger noted. Hardware wallet maker Ledger has anno ...

Singapore's central bank has released a revised regulatory framework aimed at ensuring stability for single-currency stablecoins (SCS) regulated in the city-state.The Monetary Authority of Singapore announced the framework on Aug. 15 which is aimed at non-bank issued stablecoins pegged to ...

A potential wave of spot Bitcoin exchange-traded funds, PayPal’s new stablecoin and a key Ethereum upgrade are among the catalysts that could wake crypto from its hibernation.While early 2023 has seen the price of Bitcoin and other cryptocurrencies improve from the second half of 2022, the ...

Decentralized finance protocol Zunami Protocol has advised users not to buy any of its Zunami Ether (zETH) or Zunami USD (UZD) stablecoins, after encountering an attack on its "zStables" pools on Curve Finance. On Aug. 13,  Zunami confirmed on X (Twitter) that its stablecoin pool ...

In the most recent episode of The Market Report, analyst and writer Marcel Pechman delves into the topic of crypto exchange Binance’s proof-of-reserves. This report reveals a significant decline in USD Coin (USDC) balances, plummeting from $3.4 billion on March 1 to a mere $23.9 million by May 1. ...

The United States Federal Reserve is broadening the scope of its supervision program which oversees U.S. banks that engage with the cryptocurrency and blockchain industry. An Aug. 8 announcement by the Federal Reserve Board established the Novel Activities Supervision Program, which aims t ...

USD Coin (USDC) issuer Circle has released a beta version of a multiparty computation (MPC) wallet service, according to an Aug. 8 announcement. The new service will allow developers of decentralized finance (DeFi) apps, Web3 video games, e-commerce services and other blockchain applications to c ...

Circle CEO Jeremy Allaire estimates as much as 70% of USD Coin (USDC) adoption comes from countries outside of the United States.On Aug. 8 tweet to his 131,300 followers on X (Twitter), Allaire said the high rate of non-U.S. adoption was “despite the hype that we're all about the US, ...

PayPal’s new Ethereum-based stablecoin, PYUSD, has been seen as bittersweet news for the crypto community. While it could finally see Ethereum find its place in mainstream adoption, it could also spell trouble for decentralization and personal control of assets, warns the community. ...

American financial technology company PayPal launched a new stablecoin called PayPal USD (PYUSD) on Aug. 7.  The U.S. dollar-pegged stablecoin will be issued by Paxos Trust Co. and fully backed by U.S. dollar deposits, short-term Treasurys and similar cash equivalents. It’s ...

MakerDAO, one of the early pioneers of decentralized finance, has sparked criticism over its decision to block virtual private network (VPN) users from accessing its recently launched lending platform, Spark Protocol.At the time of writing, VPN users that attempt to access the Spark Protoc ...

Coinbase, a leading U.S. cryptocurrency exchange, shared its second-quarter results on Aug. 3. Despite showing a net loss, some positives emerged, like a 13% cut in operating expenses from the last quarter and a 3% boost in its cash reserves to $5.5 billion. Coinbase key financial metric ...

Curve Finance’s native stablecoin, crvUSD, briefly depegged on Aug. 3, reacting to an uncertain environment surrounding the protocol after its recent exploit. In the course of the day, the stablecoin fell by as much as 0.35% before regaining its peg to the United States dollar.Curve& ...

Circle’s USD Coin (USDC) and other stablecoins could potentially face a compliance nightmare if a new national defense bill that passed in the United States Senate makes it all the way.In a July 31 investment note seen by Cointelegraph, Berenberg analyst Mark Palmer explained that a recent ...

Binance CEO Changpeng “CZ” Zhao is looking to bring smaller algorithmic stablecoins to the market, in a bid to offer investors options other than the current global stablecoin giants.Speaking in a July 31, ask me anything (AMA) session on Twitter, CZ cited risks associated with ...

The House Financial Services Committee has advanced another two landmark crypto bills previously under consideration —  with one aiming to better regulate stablecoin issuers and another seen as positive for crypto self-custody in the United States. On July 28 the Committee said ...

Stablecoins cannot be compared to bank deposits in terms of risk, argues a new policy paper authored by former Federal Reserve Board analyst Brendan Malone on behalf of technology investment firm Paradigm. The document explores the risks stablecoins pose to the financial sys ...

United States House Financial Services Committee Chair Patrick McHenry has pointed a finger at the Biden administration for the lack of bipartisan agreement on a stablecoin bill.In a July 27 hearing, Representative McHenry said the version of the Clarity for Payment Stablecoins Act, H.R. 4 ...

The government of Palau is set to begin a pilot project for a United States dollar-backed stablecoin on July 26. The new coin will be issued on XRP Ledger.The country will release the first Palau Stablecoins (PSCs) in the pilot project to government employees. This comes after several days ...

The market capitalization of stablecoins has hit the lowest level since August 2021 coming on the back of 16 consecutive months of decline, a new report says.Cryptocurrency analytics platform CCData released a report on July 20 saying the stablecoin market cap fell 0.82% from the start of ...

On July 13, 2023, United States District Court Judge Analisa Torres ruled that Ripple’s XRP (XRP) token should not be considered a security when sold on retail digital asset exchanges.Stuart Alderoty, chief legal officer at Ripple, told Cointelegraph that last week’s ruling mak ...

Myanmar’s first entirely crypto-based banking institution has announced a soft launch for July 22 — a move that could see the country’s shadow government given greater access to financial services and funding.The Spring Development Bank is named after the Spring Revolution, the opposition ...

In the latest episode of The Market Report, Cointelegraph analyst and writer Marcel Pechman discusses Ripple’s partial victory against the Securities and Exchange Commission and its impact on the crypto market. Although people traded based on emotion after headlines popped out, the next day, as i ...

South Korea’s Shinhan Bank has completed its second proof-of-concept using stablecoins for international remittances. Siam Commercial Bank’s SCB TechX unit and an unnamed Taiwanese financial institution also participated in the project.The project carried out real-time settleme ...

The future is bright for euro-denominated stablecoins, according to Patrick Hansen, European Union strategy and policy director at Circle. The United States dollar may preserve its first-mover advantage, but euro stablecoins will see increasing real-world use cases emerge to lift them above thei ...

Decentralized finance (DeFi) protocol Aave has launched its algorithmic United States-dollar pegged stablecoin GHO on the Ethereum mainnet, with $2.19 million worth of GHO minted so far.Aave announced the launch of the new stablecoin in a July 16 blog post, describing the new stablecoin GH ...

The United States dollar’s place as a global reserve currency will be under threat if Congress isn’t quick to regulate stablecoins, warns the CEO of Circle.On July 13, Jeremy Allaire appeared in a two-minute video by Circle, the issuer of USD Coin (USDC), targeted at lawmakers. ...

Andrew Bailey, a Bank of England (BOE) governor, delivered a speech July 10 in which he moved smoothly from the central bank’s efforts to control inflation and maintain public trust in financial institutions to why cryptocurrencies are not money. Instead of cryptocurrencies and st ...

Stablecoin use could be "stifled" by daily transaction caps in the European Union's Markets in Crypto-Assets (MiCA) legislation, with some calling for the framework to be revised.On May 31, MiCA was signed into law which paved the way for the world’s first regulatory guidance on cryp ...

Crypto and blockchain advocates have authored a report calling for the Hong Kong government to issue a stablecoin pegged to the region’s dollar, which could challenge the dominance of Tether and USD Coin.According to an English translation of a July 3 report provided by Chinese crypt ...

The New Zealand central bank is ramping up its monitoring of stablecoins and crypto-assets following public submissions but has stopped short of calling for a regulatory approach.Ian Woolford, the Reserve Bank of New Zealand’s director of money and cash, said in a June 30 statement&n ...

Italy’s top banking authority has called for a “robust, risk-based” regulatory framework for stablecoins, which could help prevent a worst case scenario — a “run” on stablecoins. The central bank’s recently released “Markets, Infrastruct ...

Stablecoins have a lot of potential to harm emerging markets and developing economies, the Reserve Bank of India (RBI) claimed in its latest Financial Stability Report, released June 28. The report listed six threats that stablecoins present.The RBI has been a steadfast critic of cryptocur ...

After a joint governance proposal on liquid staking derivatives in Terra Classic (LUNC), a new proposal emerged for the next quarter suggesting the formation of a dedicated team consisting of six senior full-stack engineers.The Terra Allies senior full stack engineering team — known as the ...

Following TrustToken’s decision to temporarily halt mints and redemptions of its TrueUSD (TUSD) stablecoin through its banking partner, Prime Trust, a trader has taken advantage of the situation by initiating an on-chain short position.According to on-chain data, an Ethereum user utilized ...

Stablecoin protocol Reserve is investing $20 million into the governance tokens of yield farming apps Curve (CRV), Convex (CVX) and Stake DAO (SDT), according to a June 20 announcement. The investment is intended to increase the liquidity of Reserve’s stablecoins, called RTokens. It will also inc ...

The dollar-pegged Binance USD (BUSD) stablecoin sits now at the fourth position in market capitalization among other stablecoins following a dip of over $1 billion in the past 30 days, data from CoinMarketCap shows.As of writing, BUSD market cap stands at $4.30 billion, down 29% from $5.54 ...

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.On June 15, an imbalance in Curve Finance’s 3pool led to a Tether (USDT) depeg scare as the stablecoin’ ...

Stablecoin-issuer Tether has published a lengthy response to reports that the reserves of Tether (USDT), one of the largest stablecoins, once included securities issued by Chinese companies. On June 16, mainstream media outlets, including Bloomberg, reported that the company once used ...

Algorithmic and high-frequency trading firm Jump Trading is seeking to have the class action lawsuit against the firm moved from Illinois to a Northern district court in California, arguing that it would significantly speed up legal proceedings. The lawsuit was initially filed on May 9 by ...

Tether minted a fresh batch of $1 billion worth of its Tether (USDT) stablecoin on the Ethereum blockchain on June 12. The latest billion-dollar mint for the stablecoin issuer comes within two months of its last mint on April 21.Tether’s chief technology officer Paolo Ardoi ...

Stablecoin TruedUSD (TUSD) slightly lost its dollar peg in the early hours of June 10, following a pause in minting activities through its technology partner Prime Trust. The fifth-largest stablecoin by market capitalization traded at $0.9964 at its deepest point. According to CoinMar ...

Circle’s Singapore affiliate, Circle Internet Singapore, has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Circle Singapore received in-principle MPI approval from MAS in November and opened its office in the city-state in May.An M ...

Right as analysts thought that Bitcoin (BTC) was on the cusp of showing signs of a price breakout, the crypto market took a turn to the downside after the SEC presented charges against Binance exchange. This has led some analysts to believe that the BTC price bottom is not yet in. Bit ...

Megabank Mitsubishi UFJ Financial Group (MUFG) has announced that its stablecoin issuance platform “Progmat Coin” will soon be used by Japanese banks to launch Yen-pegged stablecoins on several public blockchains.Japanese banks have recently outlined intentions to either look into or launc ...

Boosting financial inclusion is one of crypto’s strongest value propositions. Yet, ironically, the banking crisis has effectively de-banked the crypto industry itself, at least in the United States.How things panned out with Silvergate, Silicon Valley Bank and Signature — the t ...

First Digital Group, a Hong Kong-based qualified custodian and trust company, announced the launch of its First Digital USD (FDUSD) United States dollar-pegged stablecoin on June 1. The new stablecoin is programmable and described as being capable of executing contracts, escrow services and insur ...

Circle recently announced plans for a June 8 launch of a new native version of its USD Coin stablecoin on the Arbitrum network.1/ Circle is launching USDC natively on @Arbitrum on June 8th! Keep scrolling or read the blog t ...

Mainland Chinese authorities continue policy of harassment of cryptocurrency companies. The other day, the Trust Reserve team behind the CNHC yuan-linked steblecoin was detained. Family members of employees have been notified of th ...

Bank of Japan (BOJ) released a report in which it said that after the successful completion of the second phase of the digital yen pilot project, the authorities decided to continue the program. The second phase of testing of the state cryptocurrency took place between Apri ...

He said so on The Scoop podcast Ardoino thinks the parties in Congress will still reach an agreement Since the consequences would be catastrophic if not CTO of Tether Paolo Ardoino thinks a scenario in which the US declares a technical default is unli ...

This is the second network for Euro Stablecoin The coin is being integrated by several top applications on Avalanche Circle has released a version of Euro Coin Stablecoin (EUROC) on the Avalanche network. ...

The management of the operator of the largest stabelcoin by capitalization Tether signed an agreement with Tbilisi Business and Technology University (BTU). The company said the partnership will give students the knowledge and skills they need to work in the digital econo ...

Based on the Lightning Network solution for the Bitcoin network, Strike payment platform announced support for USDT, the largest steblecoin, on various networks. According to Tether CTO Paolo Ardoino, users will be able to deposit and withdraw USDT, as well as pay with st ...

The management of the operator of the largest steblecoin by capitalization Tether announced the cooperation with the service KriptonMarket to promote USDT as a means of payment for small businesses in Argentina. KriptonMarket is working to improve access to stablcoin for ...

The Jamaican government is developing a special platform where locals and merchants can use the digital Jamaican dollar. The national e-commerce platform will allow users to pay for goods and services using the central bank's digital currency, JAM-DEX. A task force was ...

Central Banks will be able to launch CBDC Ripple is already partnering with the Republic of Palau Crypto firm Ripple announced the launch of its CBDC and Stablecoin development platform. The statement says the site will allow "management and customization of t ...

The management of the operator of the largest stabelcoin Tether decided to invest in bitcoin up to 15% of net profit every month to diversify reserves. As of now, the company has already invested $1.5 billion in BTC. While many com ...

American cryptocurrency exchange Coinbase continues to develop its international presence - the site introduced new services for customers from Singapore. Coinbase Singapore users will be able to buy USDC with the Singapore dollar without commissions. They will also be ...

The Wall Street Journal (WSJ) reports, citing court documents, that market maker Jump Trading received $1 billion through its deals with Terraform Labs. According to the documents, the company purchased millions of UST tokens in 2021, hoping to manipulate their value. ...

Bank deposits are down more than 90% Tether added gold and BTC to its asset reserves for the first time Tether released an analysis of its first quarter 2023 report. Tether posted record net income of $1.48 billion in the first quarter, raising its reserve surplu ...

Circle, the issuer of the popular USDC steblecoin, is going to reduce the percentage of U.S. dollars in token collateral as the country may default due to rising national debt. Circle CEO Jeremy Allaire told Politico that the company will focus more on short-term U.S. Tre ...

A former Securities and Exchange Commission (SEC) official called on U.S. financial regulators to ban cryptocurrency companies from offering Tether Stablecoins. John Reed Stark on Twitter listed various problems plaguing Tether. According to the former official, the USDT ...

Firm CEO Jeremy Allaire said He said Circle has completely eliminated all long-term U.S. Treasury obligations If Republicans and Democrats in Congress do not agree on the debt ceiling, a technical default will come June 1 Circle has gotten rid of all ...

Tether, the issuer of the first capitalized USDT stabelcoin, released its results for the first quarter of 2023. According to the report, the company's net income was $1.48 billion. The company's total assets reached $81.8 billion. Of these, about $2.44 billion are claime ...

Virtual real estate prices have collapsed by 90% in the last fourteen months, journalists have calculated The virtual real estate market in Decentaland and The Sandbox is in crisis amid falling cryptocurrency prices and a lack of interest among investors. The Australian Financial Review newspa ...

Token capitalization exceeded $82 billion Yesterday, May 8, the asset crossed $1.01 The company is not "tied" to the U.S. and therefore less vulnerable to regulatory pressure The USDT has overtaken not only other steiblockers but also, it seems, the r ...

The New York attorney general has proposed a new law giving the agency expanded powers to regulate the state's cryptocurrency industry. The Cryptocurrency Regulation, Protection, Transparency and Oversight Bill (CRPTO) will be introduced in the New York State Senate and Ass ...

The developers of the decentralized exchange Curve Finance announced the launch of the crvUSD steblecoin on the core Etherium network. Smart contracts for the functioning of the token have already been successfully deployed, but the user interface for working with them is ...

They accused Adam Cochran and Protos journalists of defamation The company is ready to defend its honor in court The TrueUSD (TUSD) stablecoin issuer denies its connection to Justin Sun. "TrueUSD never belonged to Justin Sun, a ...

Circle, the issuer of the USDC stablecoin, has secured a replacement for Signature Bank's Signet platform, according to CEO Jeremy Allair. The service was used by USDC holders to transfer funds between fiat currencies and cryptocurrencies around the clock. However, it was closed in mid-March d ...

Market participants urged to manage risk now Stablecoin regulation is not just in the EU Stablecoin regulations require issuers to have a variety of reserves. Jose Manuel Campa, chairman of the European Banking Authority, urged cryptocurrency players to start ...

According to the CEO of Circle, the decline in USDC's market capitalization can be attributed to the banking crisis and regulatory issues in the US crypto industry. Currently, USDC is the second largest stablecoin by market capitalization, with Tether (USDT) taking the top spot. In the summer ...

This was made possible by the banking crisis in the U.S. and the reduction of pressure from the Federal Reserve As a result, BTC capitalization is expected to increase by 50-60% If this trend continues, the asset will pass the $100,000 level by the end of next yea ...

According to a report by Kaiko, a data analytics firm, TrueUSD (TUSD) has surpassed USDT and BUSD as the most popular trading asset paired with bitcoin on centralized exchanges. This significant shift can be attributed to the aggressive promotion of TUSD by Binance, which has led to a 168% increa ...

Yesterday, a new stablecoin called Euro CoinVertible was introduced on Ethereum by a subsidiary of Societe Generale, a French bank. However, it has been discovered that the code of the smart contract was written poorly. After an audit of the EURCV code by developers from the crypto community, ...

The stablecoin regulation bill has come under fire from Democratic lawmakers in the United States, who are concerned that the lack of a clear regulatory framework may lead to stablecoin issuers seeking out other jurisdictions. The bill, which was created in 2022 by Republican Patrick McHenry of N ...

Societe Generale-Forge (SG-Forge), a subsidiary of the French banking giant Societe Generale, has introduced a new stablecoin called EUR CoinVertible, which is pegged to the European currency. The regulated company has designed this stablecoin for qualified institutional investors who have comple ...

Binance, the largest cryptocurrency exchange in terms of trading volume, recently made an announcement regarding the withdrawal of four crypto assets, namely SHIB, FXS, TWT, and 1INCH from its "innovation zone". Starting April 18, these assets will be fully accessible to users. The reason behi ...

Tether, the issuer of the USDT stablecoin, has taken steps against an attacker who recently stole $25 million worth of cryptocurrencies from MEV bots through the use of a Sandwich method attack. The hacker took advantage of a security vulnerability in the decentralized exchange Uniswap on the Eth ...

On the morning of April 11, the value of the first cryptocurrency surged, exceeding $30,000, which marked a ten-month high. The rate of bitcoin approached $30,500 before experiencing a minor decline, and at present, BTC is being traded at $30,090. The previous time bitcoin's value hit this lev ...

Republican politicians from Texas, Senator Bryan Hughes and Representative Mark Dorazio, have recently introduced a bill proposing the creation of a state digital currency backed by gold. The proposed stablecoin will not be tied to the US dollar but to a fraction of a troy ounce of gold held in t ...

According to recent reports, Paxos has had its national banking license application terminated by the US Comptroller's Office. Paxos, which issues the Pax Dollar (USDP) stablecoin, had delayed compliance with the regulator's requirements for an earlier application for a banking license and approv ...

In the first quarter of 2023, the stablecoin Tether's market capitalization surged by $15 billion, breaking its previous record set in May 2022. As reported by the cryptocurrency explorer CoinMarketCap, USDT's market capitalization surged by over 20% in the first three months of the year, reachin ...

The Central Reserve Bank of Peru (CRBP) has released a comprehensive report detailing the potential of its own digital currency and the advantages it could bring to the country's payment system. With the assistance of the International Monetary Fund (IMF), the report highlights the benefits of a ...

Tether Uses Signet to Transfer US Dollar Funds to Bahamas Banking Partner. According to recent reports, Tether, the issuer of USDT stablecoin, used Signet, the payment platform of Signature Bank, to transfer US dollar funds to its banking partner, Capital Union Bank, in the Bahamas. The transf ...

BTG Pactual, one of the biggest banks in Latin America, has made a landmark announcement of its first-ever dollar-pegged stablecoin. The stablecoin named BTG Dol will be launched through Mynt, the bank's own cryptocurrency platform. According to the bank, the digital asset is backed 1:1 with t ...

According to reports from KBS News, South Korean law enforcement agencies have confiscated assets worth approximately 200 billion won ($153.6 million) from former employees of Terraform Labs. The Financial Crime Investigation Team of the Seoul Southern District Prosecutor's Office has seized the ...

The Singapore court has temporarily extended the protection against creditors' claims for Babel Finance until April 17, following a postponement of the company's request for an extension due to objections from the Deribit exchange. Babel Finance, a troubled crypto lender, is seeking to pay off it ...

Coinbase, the popular cryptocurrency exchange, is reportedly exploring the possibility of introducing a new type of stablecoin that is tied to inflation. This unique stablecoin, called a "flatcoin", would be pegged to the cost of living rather than the US dollar, like most stablecoins on the mark ...

During an interview, Paolo Ardoino, the CTO of Tether, made a significant announcement regarding the company's excess reserves. According to Ardoino, Tether currently has approximately $1.6 billion in reserves to support its stablecoin, USDT. Tether's USDT is backed by a variety of real assets, i ...

Xapo, a leading cryptocurrency custodial service and licensed bank, has joined forces with Circle to offer support for the USDC stablecoin and facilitate payments using it. This partnership is expected to result in the creation of a payment infrastructure similar to the SWIFT interbank transfer s ...

According to data from the analytical platform CryptoCompare, users are actively redeeming USD Coin (USDC) to Circle, with a total of $6 billion worth of stablecoins exchanged for fiat. Although Circle, the issuer of USDC, claims to fulfill all withdrawal requests promptly, representatives from t ...

According to the governor of the Central Bank of Nigeria, the local government's digital currency has experienced a significant surge in transaction volume since its launch, with an increase of 63% to reach a transaction volume of $47.7 million. Godwin Emefiele revealed that, initially, after the ...

Circle, the issuer of stablecoins, has taken a significant step towards expanding its business in Europe. The Boston-based company has applied for two licenses from French regulators, which, if approved, would allow Circle to offer its products to customers in France. Specifically, Circle has ...

Mastercard has unveiled a new partnership with Stables, an Australian stablecoin platform, that will enable users to pay directly with stablecoins through a new Mastercard. The card will be linked to the Stables wallet, which exclusively supports stablecoins, and can be used at any retail locatio ...

According to Circle, the creator of the USDC stablecoin, users redeemed a total of $3 billion worth of USDC between March 13 and March 15. In response, Circle bought back $3.8 billion worth of USDC and issued $800 million worth of stablecoins since Monday morning. The stablecoin experienced a ...

Bloomberg reports that following the recent collapse of US banks that were favorable to cryptocurrencies, the operator of the fifth largest stablecoin worldwide, TUSD, has transferred $1 billion in assets to the Bahamas. Archblock, which manages approximately $2 billion in reserves to back the Tr ...

TUSD stablecoin trading volume has doubled after major cryptocurrency exchanges, including the Binance exchange, introduced zero commissions for trading TUSD in pairs with leading cryptocurrencies. According to CoinGecko, the supply of the token was $970 million on Februa ...

US authorities have detained one of the masterminds behind the G|CLUBS club and the Himalayan Cryptocurrency Exchange, both of which have been exposed as fraudulent schemes worth approximately $1 billion. According to the US Attorney's Office, Miles Guo and Kin Ming Je, both Chinese businessmen, ...

The US Department of Justice is reportedly investigating the crash of the stablecoin TerraUSD, which occurred last year. Sources familiar with the situation revealed to the Wall Street Journal that former Terraform Labs employees who handled the USTC stablecoin have already been interrogated by t ...

Circle, the company behind the popular USDC stablecoin, is urging the US Congress to take swift action in creating regulatory guidelines for stablecoins. Dante Disparte, the director of strategic development at Circle, emphasized that despite constant discussion about the risks associated with st ...

Nansen, a blockchain research platform, has recently reported that the USDC stablecoin has undergone significant changes after burning almost $3 billion worth of tokens, causing the coin to rise back to its previous value of $0.97. The reason behind the sudden dip in the value of USDC was attribu ...

The world of cryptocurrencies is rife with opportunities and challenges. Each cryptocurrency comes with its own set of benefits and drawbacks. While some cryptocurrencies are overlooked by regulators, others face technical difficulties. For instance, Ripple is currently under the radar of regulat ...

As per the latest reports from Reuters, numerous Australians who invested their pension savings in cryptocurrency have faced huge losses amounting to millions of dollars. The losses are attributed to the self-managed pension funds (SMSF) that are not regulated by Australian prudential regulators ...

The unanimous approval of the proposal to freeze BUSD reserves in the Ethereum Aave V2 pool took effect on February 27th. According to comments posted on the official DeFi AAVE protocol resource, the decision to block Binance USD (BUSD) stablecoins was made despite the fact that BUSD is not a borrow ...

US Securities and Exchange Commission (SEC) Chairman Gary Gensler recently discussed the regulation of the cryptocurrency industry in an interview with New York Magazine. According to Gensler, all cryptocurrencies except Bitcoin are considered securities and fall within the SEC's jurisdiction. He ...

A member of the Dogecoin Foundation's board, known on Twitter as Mishaboar, has expressed concerns over the recent conflict surrounding Paxos and Binance USD (BUSD) stablecoin. Mishaboar stated that Binance CEO Changpeng Zhao attempted to downplay BUSD's significance in the exchange's ecosystem, des ...

According to data from CoinGecko, the stablecoin market saw a shift in dominance as the largest stablecoin by capitalization, USDT, gained a majority share of 51.31%, for the first time since May 2022. USD Coin (USDC) came in second with 30.64% of the market, while Binance USD (BUSD) accounted for 1 ...

USDC Circle, the stablecoin issuer, has denied the claims made by a Fox Business journalist that it had received an official warning from the US Securities and Exchange Commission (SEC) regarding possible enforcement action against it. The journalist had alleged that the SEC was cracking down on ...

Paxos' CEO, Charles Cascarilla, has expressed his disagreement with regulatory bodies' views on BinanceUSD (BUSD), a stablecoin, being classified as a security. He stated that Paxos has always strived to maintain good relationships with regulators and comply with the law since its inception. Howe ...

Coinbase, the largest American crypto exchange, has announced the phased launch of trading pairs in conjunction with the euro-backed stablecoin EUROC. Starting from February 22, users of the platform can conduct trading operations with Euro Coin, with the EUROC-USD and EUROC-EUR trading pairs to ...