Tag: Stablecoin

Ethena Labs, Jupiter Partner to Launch JupUSD Stablecoin on Solana

Key Notes The collaboration aims to strengthen Jupiter’s product ecosystem while reducing cross-blockchain friction for users. Ethena’s USDe has reached nearly $15 billion in market cap, representing five percent of the total stablecoin market. Industry executives predict substantial stablecoin market expansion driven by favorable regulatory developments and institutional interest. Ethena Labs, a decentralized protocol, and Jupiter, a decentralized exchange (DEX) aggregator built on the Solana blockchain, announced the upcoming launch of JupUSD, a Solana-native stablecoin backed by USDtb. JupUSD is currently under development and is slated to launch towards the…

Solana Sees Explosive Stablecoin Growth – Here’s How Much Supply Is Held In The Blockchain

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The leading Solana blockchain is experiencing a notable uptick in on-chain activity alongside its remarkable increase in price to the $234 mark in the past few weeks. In the midst of the ongoing spike in on-chain activity, a massive supply of stablecoins has been observed on the blockchain. Rapid Stablecoin Expansion on The Solana Blockchain Solana is on a rapid tear once again, which appears to have ignited bullish action in several areas of the leading blockchain.…

Fasset Becomes First Stablecoin Islamic Bank in Malaysia

Key Notes Malaysia grants Fasset approval to offer full-service digital banking within a regulated Islamic fintech sandbox. Fasset is now the world’s first stablecoin-powered Islamic digital bank. The platform plans to expand its products and services in the coming months. . Global crypto investment platform, Fasset, has received approval from Malaysia to launch full-service digital banking services within a regulated Islamic fintech sandbox. The approval makes Fasset the world’s first stablecoin-powered Islamic digital bank. Fasset currently serves over 500,000 users across 125 countries, aiming to close the long-standing gap in…

Streamex Stock Jumps on Gold-Backed Stablecoin Launch

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Streamex Corp. saw its stock surge over 20% on Monday after announcing a pre-sale for its upcoming gold-backed stablecoin, GLDY. The digital asset, designed to generate an annualized yield of up to 4.0%, will open for qualified investors on or before Nov. 10. The GLDY token offers exposure to physical gold bullion with yield paid in ounces of gold, targeting institutional investors, the company announced on Monday. The stablecoin is part of Streamex’s broader mission to tokenize real-world commodities through digital instruments. “The launch of GLDY represents a major evolution…

A7A5 under fire as EU weighs sanctions on ruble-pegged stablecoin

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The European Union is reportedly considering sanctions against A7A5, a Russian ruble-backed stablecoin and the world’s largest non-US-dollar pegged stablecoin. The sanctions would prohibit EU-based organizations and individuals from engaging directly or indirectly through third parties with the token, according to a report from Bloomberg on Monday, citing documents related to the proposal. Several banks in Russia, Belarus and Central Asia are in the firing line too, accused of enabling sanctioned entities to conduct crypto-related transactions, Bloomberg reports. It is the latest effort by the EU to hobble Russian-tied crypto…

$15-B Stablecoin Supply, ETF Demand Drive Next Leg Up

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They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer…

A7A5 Becomes Top Non-Dollar Stablecoin Amid Sanctions

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A7A5, a Russian ruble-backed stablecoin issued in Kyrgyzstan, has become the world’s biggest non-US dollar stablecoin despite facing multiple sanctions. A7A5’s market capitalization stood at almost $500 million on Monday, about 43% of the total $1.2 billion market cap of non-US dollar stablecoins, according to data from CoinMarketCap and DefiLlama. “We have already proven that a national digital currency can be not only an alternative to the dollar but also a driver of global change,” A7A5 wrote on its Telegram channel on Saturday. The statement came as the project drew…

Stablecoin Yield Means Banks Must Now offer Customers Real Interest

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Stablecoins, tokenized versions of fiat currencies that move on blockchain rails, will eventually force banks and other financial institutions to offer customers yields on their deposits to remain competitive, according to Patrick Collison, CEO of payments company Stripe. The average interest rate for US savings accounts is 0.40%, and in the EU, the average rate on savings accounts is 0.25%, Collison said in response to VC Nic Carter’s X post outlining the rise of yield-bearing stablecoins and the future of the sector. Collison added: “Depositors are going to, and should,…

Crypto Funding Slows, but RWA, Stablecoin Startups Draw Capital

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Although digital assets continue to attract record interest from institutional investors, traditional banks and corporations, venture capital activity in the sector has slowed notably since the first quarter. Galaxy Research’s latest VC report showed that crypto and blockchain startups raised a total of $1.97 billion across 378 deals in the second quarter. That represents a 59% decline in funding and a 15% drop in deal count compared to the previous quarter. According to Galaxy, it was the second-lowest quarterly total since Q4 2020. Researchers observed that the long-term correlation between…

Stablecoin Market Cap Tops $300B Amid Crypto Rally

Key Notes DefiLlama data shows that the broader stablecoin market cap has hit $301 billion. This marks a 2% increase from its level a few days ago. Tether’s USDT dominates with $176.36 billion, and Circle’s USDC boasts of $74.33 billion. . For the first time in history, the total market capitalization of stablecoins has jumped to $300 billion. As is usually the case, Tether’s USD-pegged stablecoin USDT USDT $1.00 24h volatility: 0.0% Market cap: $176.35 B Vol. 24h: $131.64 B and Circle’s USDC USDC $1.00 24h volatility: 0.0% Market cap:…