Tag: Stablecoin

Latin American Stablecoin Adoption Expected to Grow Amid High Inflation

“In Latin America, the countries with the highest levels of inflation are the ones that run the fastest towards cryptocurrencies,” said ​ Mauricio Di Bartolomeo, co-founder of Ledn, a Canada-based lending platform with more than 125,000 users, half of whom are based in Latin American countries. “In 2023 stablecoin adoption will hike because inflation is going to be much higher amid macroeconomic turbulence,” he added. Source

Bank of Spain Greenlights Euro-Backed Stablecoin Token Pilot Program – Fintech Bitcoin News

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The Bank of Spain has given approval for the launch of a pilot program involving the issuance and usage of euro-pegged stablecoins. The program, which MONEI, a fintech institution, is launching, will allow users to issue digital euros with fiat deposits in order to experiment with these in payment applications, increasing their transparency. Bank of Spain Authorizes Digital Euro Token Tests Europe is becoming a hotspot for stablecoins and CBDC (central bank digital currency) experimentation. On Jan. 19, the Bank of Spain greenlighted a pilot program that involves the issuance…

Paxos Courts MakerDAO With Paying Yield for Holding Up to $1.5B USDP Stablecoin

USDP is a dollar-pegged stablecoin one-to-one backed by cash and cash-equivalent U.S. government debt instruments, according to independent attestations. Both Paxos and USDP are regulated by the New York Department of Financial Services (NYDFS), the state’s leading financial regulatory agency. Effectively, Paxos would pass a part of the revenue earned on the government bonds backing USDP to Maker. Source

6 ways the stablecoin space can improve stability in volatile periods

With a value pegged to another currency, stablecoins in theory maintain steady price levels — hence the name. However, as investors saw in the Terra (LUNA) and UST crashes in May 2022, even stablecoins are subject to diminishing value in times of volatility if underlying pegs are lost or drop in value themselves. As investors continue to search for reliable instruments in the face of inflation and market uncertainty, enhancing stability in the stablecoin space is an essential effort for attracting continued and new investment. Below, six members of Cointelegraph…

Aussie Bank Mints Stablecoin AUDN on Ethereum and Algorand Blockchains

NAB chief innovation officer Howard Silby said the decision to mint the AUDN stablecoin, which is backed 1:1 by the Australian dollar (AUD), was based on the bank’s belief that blockchain infrastructure will play a key role in the new evolution of finance. The National Australia Bank (NAB), one of the central banks in Australia, has launched a stablecoin named AUDN. The stablecoin is all set to be launched in the middle of this year, according to the Australian Financial Review (AFR) report. NAB will go on to become the…

Aussie ‘Big 4’ bank mints stablecoin for carbon trading and remittances

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National Australia Bank (NAB) is set to become the second “Big 4” Australian bank to launch an Australian dollar-pegged stablecoin on the Ethereum network. Set to launch sometime in mid-2023, the AUDN stablecoin is aimed at streamlining cross-border remittances and carbon credit trading, according to a Jan. 18 report from the Australian Financial Review (AFR). NAB’s chief innovation officer Howard Silby said the decision to mint the AUDN stablecoin on Ethereum — which is backed 1:1 by the Australian dollar (AUD) — was based on their belief that blockchain infrastructure…

Rick McCracken Predicts Mainnet Launch For Djed, A Cardano Stablecoin

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Based on a discovery from a new stablecoin test of Cardano, Rick McCracken has predicted a close launch date for Djed mainnet. Rick McCracken, the owner of the ADA staking pool, DIGI, and also a Cardano supporter, did not hesitate to make his findings and prediction known via his Twitter handle. Recall there was an announcement earlier on Djed’s official Twitter handle on January 14, affirming that the stablecoin’s launch this month remains on track. Furthermore, as per COTI Network’s announcement on January 5, the soon-to-launch stablecoin bagged a new…