Tag: Stablecoin

PayPal’s PYUSD Stablecoin Now Available to Venmo Users

Individuals with compatible external wallets, as well as merchants who embrace PYUSD for payments, will be able to receive transfers from Venmo users.  In the latest development, financial payments giant PayPal announced that its PYUSD stablecoin will be now available to users on Venmo. In its blog post on Wednesday, September 20, PayPal said that its USD-pegged stablecoin is available to Venmo users and will be “rolling out in the coming weeks”. Individuals with compatible external wallets, as well as merchants who embrace PYUSD for payments, will be able to…

Bybit adds PayPal USD stablecoin, PYUSD, to its platform

Bybit, a Dubai-based cryptocurrency exchange, has announced the listing of PayPal USD stablecoin, PYUSD. PYUSD is a stablecoin issued by Paxos, a New York-based regulated financial company. The listing of PYUSD marks a significant collaboration between Bybit and PayPal, two leading players in the traditional and crypto payment sectors. By integrating PYUSD into its platform, Bybit aims to provide its users with a diverse and trusted trading experience. Ben Zhou, co-founder and CEO of Bybit, said the listing of PYUSD reaffirms Bybit’s commitment to offering its users more choices and…

Circle Launches Its USDC Stablecoin on Polkadot Asset Hub

Circle emphasized that Circle Account and Circle APIs will exclusively facilitate the use of Polkadot USDC, natively issued within the Polkadot Asset Hub. Circle’s native stablecoin USDC, also the second-largest stablecoin by market cap, is now gearing up for a launch on the Polkadot blockchain, as it continues to expand across different blockchain platforms. On Tuesday, September 19, Circle made the official announcement of launching the USDC Coin on the Polkadot network. As per Circle’s website, Polkadot USDC is now readily accessible to developers and users. Thus, users can seamlessly…

Hong Kong will potentially launch stablecoin regulations by mid-2024

Hong Kong is aiming to finalize stablecoin regulations by mid-2024, highlighting the territory’s contrasting approach to mainland China.  Legislative Council member Duncan Chiu has signaled that Hong Kong is on track to finalize its stablecoin regulations by mid-2024. The announcement was made at the Shanghai Blockchain International Week, according to a local news outlet.  Hong Kong potentially wants to establish the region as a web3 nexus, driven by regulations and diverging from China’s more restrictive stance on cryptocurrency. Regulatory roadmap for Hong Kong’s stablecoin regulation Chiu revealed that the legislative…

Circle launches USDC stablecoin on Polkadot Asset Hub

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USD Coin (USDC), the second-largest stablecoin by market capitalization after Tether (USDT), continues expanding across different blockchain networks, now being launched on Polkadot. USDC issuer Circle has officially launched USD Coin on the Polkadot network, the firm announced on Sept. 19. According to the Circle’s website, Polkadot USDC is immediately available for developers and users as the stablecoin can now be transferred to parachains in Polkadot via the XCM protocol using Circle Account and Circle APIs. According to the announcement, Polkadot USDC is natively issued on Polkadot Asset Hub, a…

Tether Co-Founder William Quigley Sizes Up PayPal’s Stablecoin Ambitions

The payments world is blanketed by financial intermediaries, each extracting a toll for their services. Creating a stablecoin involves PayPal buying a basket of currencies and holding these yen, euros, rupees, won and so on in banks across the world. Once PayPal tokenizes the currency backed by those bank deposits, it has a private, multicurrency money supply that exists outside the global banking system and is free of any third-party toll collectors, Quigley explained. Source

Binance Begins Process Of Axing BUSD Stablecoin

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Binance crypto exchange announced in late August that it is moving to end support for its beloved BUSD stablecoin. This move comes amid the stablecoin’s run-in with regulators, leading to a halt in its production. And now, the exchange has started moving to begin the end of support for the stablecoin. Binance Starts Burning Tokens Binance took to its official X (formerly Twitter) account on Thursday, September 14, to announce that it would begin burning a number of Binance-pegged tokens. Among the five tokens listed to be burned, four were…

Stablecoin Launch By Aussie Bank Looms After Chainlink Blockchain Trials

Australia and New Zealand Banking Group ANZ is close to releasing its Australian dollar-pegged stablecoin, A$DC, following a successful test transaction on Chainlink.  In a statement, ANZ’s banking service portfolio lead, Nigel Dobson, said they see high potential in tokenizing real-world assets (RWA) like the Australian dollar on-chain. According to Dobson, the stablecoin’s test transaction on Chainlink’s cross-chain interoperability protocol (CCIP) marks a milestone for the bank. ANZ Bank Explore Suitable Networks To Launch Stablecoin In the statement, Dobson also revealed that ANZ is exploring several networks to determine the best…

ANZ Takes Lead in Australia’s Banking Sector with A$DC Stablecoin

Chainlink’s Cross-Chain Interoperability Protocol (CCIP) might provide a lasting solution to the challenge posed by blockchain fragmentation. In a recent development, the Australia and New Zealand Banking Group (ANZ), one of Australia’s major banks, is taking significant steps toward the launch of its bank-issued stablecoin A$DC. This move follows a successful test transaction conducted using Chainlink’s Cross-Chain Interoperability Protocol, and it aims to facilitate the simulation of tokenized asset purchases, showcasing the bank’s dedication to exploring decentralized networks. Nigel Dobson, ANZ’s Portfolio Lead, announced this milestone in a statement, characterizing…

Major Aussie bank takes next step to AUD stablecoin after Chainlink test transaction

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Australia and New Zealand Banking Group is one step closer to launching its bank-issued stablecoin A$DC after the bank successfully executed a test transaction on Chainlink’s Cross-Chain Interoperability Protocol (CCIP): ANZ’s banking services portfolio lead Nigel Dobson said the transaction was a “milestone” moment for the bank in a Sept. 14 statement: “ANZ recently worked with Chainlink CCIP to complete a test transaction to simulate the purchase of a tokenised asset, facilitated using A$DC and an ANZ-issued NZ-dollar-denominated stablecoin.” Dobson said the firm has been experimenting with several networks —…