Tag: Stablecoin

Binance Stablecoin Reserves Hit Record High

Key Notes ERC20-based USDT reserves surge to roughly $32.6 billion, offsetting a TRC20 decline. Single-day inflows on Binance recently exceeded $2.1 billion in USDT and USDC. Analysts see rising institutional deposits and a possible bullish Q4 for crypto markets. Binance’s total stablecoin holdings have climbed to a record $45 billion as traders prepare for potential Q4 volatility. Market analysts suggest this fresh liquidity may strengthen the exchange’s ability to support large trades, creating a more attractive environment for traders. Data from CryptoQuant shows a clear shift toward Ethereum-based ETH $4…

Avalanche Now Hosts First South Korean Won-Based Stablecoin

Key Notes Avalanche has now become host to the first Korean won–backed stablecoin dubbed KRW1. The stablecoin is fully collateralized with Korean won deposits held at Woori Bank. In the meantime, the stablecoin is not included in circulation, but in the PoC phase. Popular South Korean digital asset custodian BDACS has officially rolled out the first won-backed stablecoin on Avalanche. According to the blockchain, this digital asset, dubbed KRW1, is fully collateralized with Korean won deposits held at Woori Bank. It is worth noting that the stablecoin is yet to…

MoneyGram App to Launch in Colombia For Stablecoin Savings and Transfers

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MoneyGram’s digital payments app is set to launch in Colombia, offering locals a way to save in US dollar stablecoins as the Colombian peso continues to weaken. MoneyGram’s crypto service is powered by the Stellar network and leverages Crossmint for self-custody, enabling users to store the USDC (USDC) stablecoin and transfer it overseas nearly instantly.  In a statement on Wednesday, MoneyGram said Colombia is the “ideal launch market” as Colombian families receive more than 22 times the money they send abroad. “For millions of people around the world, sending money…

Fed Day Dry Powder: Cryptoquant Analyst Tracks $7.6B Stablecoin Pile on Exchanges

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With the Federal Reserve meeting today, onchain flows are telegraphing that crypto traders are topping off exchanges and leaning long ahead of a widely expected 25-basis-point cut. Pre-Fed Positioning Stablecoins are doing the heavy lifting. Cryptoquant data shows $7.6 billion in fresh USDT and USDC (ERC-20) deposits heading to trading venues ahead of the decision. […] Source

Tether Plans to Launch US Stablecoin, Market Rallies to Best Wallet Token

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Tether, the company behind the widely used stablecoin $USDT, is taking its next major step in the U.S. market. And despite its expansion plans, the company has made one thing clear: it will remain a private enterprise. Navigating New Regulations The GENIUS Act clarified the US stablecoin landscape, and Tether is wasting no time in taking advantage. The law requires stablecoins issued domestically to be: backed by high-quality, liquid, U.S. dollar-denominated assets to provide monthly transparency into reserve holdings to undergo regular audits $USAT is being structured precisely to meet…

Bitwise files Stablecoin & Tokenization ETF with SEC

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Bitwise filed with the US Securities and Exchange Commission (SEC) to launch the “Stablecoin & Tokenization ETF,” an exchange-traded fund designed to track an index split between companies tied to stablecoins and tokenization. According to a Tuesday filing, the proposed ETF will track an index featuring companies from stablecoin issuers, infrastructure providers, payment processors, exchanges and retailers to regulated crypto exchange-traded products (ETPs) with exposure to Bitcoin (BTC) and Ether (ETH). The index, which will go through quarterly rebalances, is split into two equally weighted sleeves: an equity sleeve and…

Google Launches AI Payment Protocol With Stablecoin Support

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Google has unveiled an open-source protocol that allows AI applications to send and receive payments, including transactions using stablecoins — highlighting the growing role of dollar-pegged cryptocurrencies in the emerging AI-driven web. The initiative is being launched in partnership with Salesforce, American Express and more than 60 other companies, Fortune reported Tuesday. Stablecoin functionality was developed in collaboration with crypto exchange Coinbase, and the Ethereum Foundation was also consulted on the project.  James Tromans, head of Web3 at Google Cloud, confirmed the rollout, telling Fortune that the protocol was designed…

MetaMask Launches Native Stablecoin mUSD, Ethereum Price Stabilizes at $4,495

Key Notes MetaMask launched native stablecoin mUSD with global deployment through MetaMask Card at over 150 million merchant locations worldwide. Bitmine expanded holdings to 2.15 million ETH valued at $9.74 billion after purchasing additional 82,233 tokens recently. Technical analysis shows support at $4,399 with resistance at $4,584 ahead of Federal Reserve rate decision on September 17. MetaMask, Ethereum’s largest wallet provider, officially launched its native stablecoin MetaMask USD (mUSD) on Monday, September 15, providing bullish momentum that helped Ethereum price stabilize near $4,495 despite an earlier 3% intraday decline. MetaMask…

Ripple Donates $25M RLUSD Stablecoin to Support American Veterans, Small Businesses

Key Notes Ripple commits $25 million in RLUSD stablecoin to support small businesses and veteran career development programs. XRP technical analysis shows consolidation at $3.00 with neutral RSI and potential upside toward $3.20 resistance level. Community sentiment improves following Rabby Wallet XRPL integration and consecutive charitable donations this week. Ripple XRP $2.99 24h volatility: 1.4% Market cap: $178.46 B Vol. 24h: $5.79 B price continues to hold firm above the $3 support level, as jitters around US inflation and the Fed rate decision dampened crypto market sentiment on Monday. Ripple‘s…

UK Crypto Groups Slam BoE’s Proposed Stablecoin Holding Caps

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United Kingdom-based cryptocurrency industry advocacy groups have called on the Bank of England not to proceed with its plans to limit individual stablecoin holdings. In a November 2023 discussion paper, the Bank floated setting individual caps on digital pounds between 10,000 British pounds and 20,000 pounds and asked for feedback on a possible lower limit of 5,000 pounds. According to a Monday Financial Times report, industry groups criticized the plan, saying it would be difficult and expensive to implement and could leave the UK lagging behind other jurisdictions. Tom Duff…