Tag: Stablecoin

EU-regulated firm Banking Circle adopts USDC stablecoin

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Banking Circle, a European bank focused on cross-border payments, is adopting a major U.S. dollar-pegged stablecoin for payment rails. The firm officially announced on Friday the adoption of the USD Coin (USDC) on its platform as a payment acceptance, processing and settlement method. The new payment feature is enabled as part of Banking Circle’s new service targeting banks and payment providers, allowing them to facilitate payments outside traditional bank rails. Coinbase, a major cryptocurrency exchange in the United States, will be one of the crypto liquidity providers for Bank Circle,…

Aave to launch overcollateralized stablecoin called GHO

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Decentralized finance (DeFi) giant Aave has unveiled plans to launch an overcollateralized stablecoin called GHO, subject to the community DAO’s approval. The announcement was made by Aave Companies — the centralized entity supporting the Aave protocol on its Twitter page on July 7, stating:  “We have created an ARC for a new decentralized, collateral-backed stablecoin, native to the Aave ecosystem, known as GHO.” According to the governance proposal shared on Thursday, GHO would be an Ethereum-based and decentralized stablecoin pegged to the U.S. dollar (USD) that could be collateralized with…

Shiba Inu planea lanzar una stablecoin, un token de recompensa y un juego de cartas coleccionables

Como parte del plan, los desarrolladores están trabajando en el propio protocolo de segunda capa (layer 2) del ecosistema, llamado Shibarium, que admitiría la implementación y el desarrollo de aplicaciones nativas, además del uso del token BONE. El equipo está construyendo por separado un proyecto de metaverso con 100.000 terrenos para bienes raíces virtuales. El juego de cartas coleccionables de Shiba Inu, que se encuentra en fase de desarrollo, vivirá en el metaverso de Shiba, según la publicación del blog. Source

New York Regulators Have Planted a Seed for Stablecoin Transparency

The NYDFS will broaden the amount of information available in attestation reports by requiring that stablecoin’s assets be reported not only in aggregate, but also by asset class. So a stablecoin issuer would have to list how much commercial paper it owns, its allocation to money-market mutual funds, its deposits, its bonds and its quantity of Treasurys. That is, separately, instead of lumping it all together. Source

Circle’s USDC on track to topple Tether USDT as the top stablecoin in 2022

The growth of Circle’s native stablecoin USD Coin (USDC) in the last two months compared to its $66-billion rival giant Tether (USDT) is nothing short of spectacular. USDT, USDC market cap ratio hits the lowest on record Notably, USDC’s market capitalization has grown by 8.27% since May, reaching its highest level of $55.9 billion on July 2. In contrast, USDT has suffered an over 19% drop in its market valuation, currently treading around $66.14 billion. USDT circulating market cap. Source: Messari This is the closest USDC has come to challenging…

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USD stablecoin premiums surge in Argentina following economy minister’s resignation

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Argentina, a country with one of the highest crypto adoption rates in the world, saw the price of dollar-pegged stablecoins surge across exchanges on Saturday after the abrupt resignation of its Economy Minister, Martin Guzman.  The minister’s shock exit, confirmed on his Twitter account on July 3 via a seven-page letter, threatens to further destabilize a struggling economy battling high inflation and a depreciating national currency. According to data from Criptoya, the cost of buying Tether (USDT) using Argentinian pesos (ARS) is currently 271.4 ARS through the Binance exchange, which…

Stratis (STRAX) gains 200%+ after Sky Dream Mall metaverse and stablecoin announcement

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Bear markets can be incredibly harsh for projects that have little adoption or lack an applicable use case, but projects that dedicate to building regardless of market sentiment tend to succeed in the next market cycle. One project that has seen a noticeable boost in volume, despite the wider-market downtrend is Stratis (STRAX), a blockchain development platform designed to help enterprise businesses establish their own blockchain in a simplified manner. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.365 on June 15, the price…