DeFi platforms race to craft their own stablecoins to attract users and boost growth, including Curve and Aave. Source
Decentralized Finance Protocol Coin98 Unveils Native Stablecoin CUSD
Tag: Stablecoin
Crypto Exchange WazirX to Delist USDC in Boost for Binance’s Stablecoin
BUSD, while technically the third largest stablecoin by market cap, is not nearly as popular as top tokens USDC and USDT; most of the asset sits dormant on Binance’s exchange. But Binance’s efforts to boost BUSD at the expense of USDC are paying early dividends for its adoption. Since Binance announced the transition, BUSD daily transactions have increased by an average of 15%, according to data website Nansen. Source
Australian senator drafts bill aimed at stablecoin, digital yuan regulation
Australian Liberal Senator Andrew Bragg has released a new draft bill aimed at clamping down on digital asset exchanges, stablecoins, and China’s central bank digital currency, the e-Yuan. In a statement on Sept. 18, Senator Bragg stated that “Australia must keep pace with the global race for regulation on digital assets” as “it is essential that the parliament drives law reform” on the matter. The new draft bill, titled Digital Assets (Market Regulation) Bill 2022, calls for the introduction of licenses for digital asset exchanges, digital asset custody services, stablecoin issuers,…
Stablecoin Economy Growth Stagnates for 73 Days, USDC Market Cap Slides 5% Lower – Altcoins Bitcoin News
Since the Terra stablecoin fiasco in May, the top stablecoins by market capitalization dropped 10.66% from $171.37 billion to today’s $153.09 billion. During the last two months, the top stablecoins by market capitalization have seen little growth remaining at $153 billion since mid-July. For More Than 2 Months Stablecoin Market Caps Stagnate Seeing Little Growth Following the significant climb since mid-2020, the stablecoin economy has seen growth slow during the last few months. In mid-April 2022, the stablecoin economy neared the $200 billion range for the first time in history,…
Crypto Lending Company Celsius Files for Permission to Sell Its Stablecoin Holdings
Crypto lending firm Celsius Network, which is currently in Chapter 11 bankruptcy proceedings, has asked the court for authorization to sell its stablecoin holdings in order to generate liquidity to help fund its operations, according to new court filings. Source
Financial Services Giant Old Mutual Appointed Manager of South African Stablecoin Project’s Cash Reserves – Emerging Markets Bitcoin News
One of South Africa’s largest financial services groups, Old Mutual, has reportedly been appointed manager of the ZARP stablecoin project’s cash reserves. Founders of the stablecoin are hopeful that the appointment of one of the country’s oldest financial services companies will help bolster confidence in the digital currency. Enhancing Credibility of the Stablecoin The South African financial services giant Old Mutual has reportedly been designated the manager of the cash reserves of the local currency-backed stablecoin — the zarp. By appointing Old Mutual, one of the oldest wealth management companies…
Russian Millionaire’s Startup Plans Ruble Stablecoin Following DAI Model
Alexander Lebedev’s crypto startup InDeFi plans to issue a ruble stablecoin based on the model used by MakerDAO’s DAI. Source
Crypto Custody Specialist Anchorage Digital Offers Japanese Yen Stablecoin
Stablecoins such as USDT and USDC have become cornerstones of crypto and the catalysts for new trading paradigms such as decentralized finance (DeFi). But non-crypto natives are now realizing the wider possibilities of stablecoins, and the expansion of use cases is particularly visible when it comes to offering regulated stablecoins in a local currency such as the Japanese yen, according to Anchorage co-founder Diogo Mónica. Source
Near Protocol Supports Tether USDT, Stablecoin Is Now Hosted on 14 Blockchain Networks – Bitcoin News
On Monday, the stablecoin issuer Tether Operations Limited announced that the stablecoin tether is now supported by the Near blockchain network. Following a number of recent implementations, Near will be the 14th blockchain network that hosts the largest stablecoin by market capitalization. Tether Connects With the Near Protocol Tether has revealed that tether (USDT) is now supported by the Near (NEAR) network, a smart contract blockchain system launched in April 2020. Near’s market valuation makes it the tenth largest smart contract token by market cap, and the 25th out of…
Bitcoin Stablecoin Supply Ratio Now Forms A “Buy” Signal
On-chain data shows the Bitcoin stablecoin supply ratio is now showing a green signal that has proved to be profitable for the crypto several times in the last two years. Bitcoin Stablecoin Supply Ratio Shock Momentum Forms “Buy” Signal As pointed out by an analyst in a CryptoQuant post, out of the 11 previous such buy signals, 10 ended up profitable for the crypto. The “stablecoin supply ratio” (or the SSR in brief) is an indicator that measures the ratio between the market cap of Bitcoin and that of all…