Tag: Stablecoin

Euro stablecoin launched in Finland, claims to be first approved in the EU

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Finnish company Membrane Finance has released a fully-reserved stablecoin backed by the euro, according to a Feb. 2 blog post from the company. The company is licensed by the Finnish Financial Supervisory Authority (Fin-FSA) and claims that the new ”EUROe” coin is “the first and only EU-regulated crypto stablecoin.” Membrane Finance is excited to announce the launch of EUROe on Ethereum! Read more at https://t.co/nV8dYKkBmK, and read the thread below to see how you can get started with $EUROe from today! — EUROe (@EUROemoney) February 2, 2023 U.S.-based Circle Inc.…

Poundtoken and BitcoinPoint Partners to Bring GBPT Stablecoin to Users via 18K ATMs in UK

This partnership will help UK crypto customers trade digital assets seamlessly without the need to off-ramp using fiat currencies. Poundtoken, a British-regulated issuer of GBPT stablecoin, and BitcoinPoint have announced a strategic partnership to help United Kingdom users access a British Pound-backed stablecoin via a network of 18,000 ATMs. The move is geared towards helping both novice and professional crypto users in the UK access a regulated Pound-backed stablecoin. Moreover, the UK market is heavily dominated by United States dollar-backed stablecoins including USDC and Tether (USDT). Through the partnership between…

UK native stablecoin integrates into 18,000 ATMs nationwide

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A partnership between Poundtoken and BitcoinPoint will make the country’s first 100% backed GBP stablecoin ($GBPT) accessible to retail consumers via a network of 18,000 ATMs across the United Kingdom. The move marks another step towards the U.K. becoming a “crypto hub” and is in line with the government’s push to use stablecoins for wholesale settlements. Bitcoin Point is a Lightning Network-enabled Bitcoin (BTC), and cryptocurrency exchange, licensed and registered in the U.K. Poundtoken is the sole issuer of the GBPT ($GBPT) stablecoin. Poundtoken states that its stablecoin GBPT is…

Hong Kong Plans to Make Stablecoin Licensing Mandatory This Year

The Hong Kong regulator HKNA noted that algorithmic stablecoins like TerraUSD won’t be entertained as part of the region’s new stablecoin legislation. Over the last few months, Hong Kong has been working to revive its cryptocurrency market and has been looking to establish itself as a major crypto hub in Asia. As part of this development, Hong Kong is all set to introduce mandatory licensing for stablecoin issuers said its top financial regulator earlier today, January 31. Stablecoin Licensing This means that all those regulated crypto entities operating in Hong…

ADA-backed algorithmic stablecoin Djed launched on Cardano

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Since the fall of the Terra (LUNA) algorithmic-stablecoin in mid-2022, many users in the crypto space have developed a weariness towards that particular asset class. The market for algorithmic stablecoins has dropped 10 times what it was at its all-time high prior to the Terra incident. However, this has not stopped developers on the Cardano network pushed forward with the launch of the ecosystem’s overcollateralized stablecoin. Djed (DJED) launched on the Cardano mainnet on Jan 31. and is pegged to USD and backed by Cardano’s native coin ADA (ADA). It…

Stablecoin Economy Sheds Another $3 Billion in 44 Days – Altcoins Bitcoin News

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The stablecoin economy continues to deplete as more than $3 billion has been erased from the stablecoin market ecosystem over the last 44 days. While statistics show that tether’s market valuation has risen by 2% over the last 30 days, usd coin’s market cap slid by 2.9%, BUSD valuation shed 7.2% over the last month and gemini dollar’s market capitalization slid by 1.5%. $3 Billion in Dollar-Pegged Tokens Erased in 44 Days as Stablecoin Swaps Represent Nearly 80% of Global Crypto Trade Volume The overall value of the top stablecoins…