Tag: Stablecoin

Coinbase CEO Brian Armstrong Pitches for On-Chain Interest to Stablecoin Issuers

Key Notes Armstrong argued that permitting on-chain interest for stablecoins could provide US consumers with an estimated 4% yield. This could enhance spending, saving, and investment, strengthening local economies. Armstrong believes that enabling stablecoin interest could accelerate the use of USD-backed digital assets globally. Brian Armstrong, the CEO of crypto exchange Coinbase stated that the US legislation should upgrade while allowing stablecoin holders to earn “on-chain interest” on their holdings. He said that having such an arrangement in place would be “consistent with a free market approach”. In a post…

Coinbase CEO calls for change in stablecoin laws to enable ‘onchain interest’

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Coinbase CEO Brian Armstrong is calling for legislative changes in the US to allow stablecoin holders to earn “onchain interest” on their holdings. In a March 31 post on X, Armstrong argued that crypto companies should be treated similarly to banks and be “allowed to, and incentivized to, share interest with consumers.” He added that allowing onchain interest would be “consistent with a free market approach.” Source: Brian Armstrong There are currently two competing pieces of federal stablecoin legislation working their way through the legislative process in the US: the…

Stablecoin rules needed in US before crypto tax reform, experts say

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United States cryptocurrency regulations need more clarity on stablecoins and banking relationships before lawmakers prioritize tax reform, according to industry leaders and legal experts. “In my view, tax isn’t necessarily the priority for upgrading US crypto regulation,” according to Mattan Erder, general counsel at layer-3 decentralized blockchain network Orbs. A “tailored regulatory approach” for areas including securities laws and removing “obstacles in banking” is a priority for US lawmakers with “more upside” for the industry, Erder told Cointelegraph. “The new Trump administration is clearly all in on crypto and is…

Sonic Labs ditch algorithmic USD stablecoin for UAE dirham alternative

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Sonic Labs has canceled plans to launch a US dollar-pegged algorithmic stablecoin, opting instead to develop a United Arab Emirates dirham-denominated alternative. On March 22, Sonic Labs co-founder Andre Cronje said the company was working on a US dollar-pegged algorithmic stablecoin with an annual percentage rate (APR) of up to 23%, Cointelegraph reported. However, one week later, the firm reversed course. “We will no longer be releasing a USD based algorithmic stable coin,” Cronje said in a March 28 X post. “Completely unrelated, we will be releasing a mathematically bound…

$1T stablecoin supply could drive next crypto rally — CoinFund’s Pakman

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The global stablecoin supply could surge to $1 trillion by the end of 2025, potentially becoming a key catalyst for broader cryptocurrency market growth, according to CoinFund managing partner David Pakman. “We’re in a stablecoin adoption upswell that’s likely to increase dramatically this year,” Pakman said during Cointelegraph’s Chainreaction live show on X on March 27. “We could go from $225 billion stablecoins to $1 trillion just this calendar year.” He noted that such growth, while modest compared to global financial markets, would represent a “meaningfully significant” shift for blockchain-based…

Senators press regulators on Trump’s WFLI stablecoin

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Five Democratic lawmakers in the US Senate have called on leadership at regulatory agencies to consider the potential conflicts of interest from a stablecoin launched by World Liberty Financial (WLFI), the crypto firm backed by US President Donald Trump’s family. In a March 28 letter from the US Senate Banking Committee, Massachusetts Senator Elizabeth Warren and four other Democrats asked the Federal Reserve’s committee chair on supervision and regulation, Michelle Bowman, and acting comptroller of the currency, Rodney Hood, how they intended to regulate WLFI and its stablecoin, USD1. March…

Senators press regulators on Trump’s WLFI stablecoin

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Five Democratic lawmakers in the US Senate have called on leadership at regulatory agencies to consider the potential conflicts of interest from a stablecoin launched by World Liberty Financial (WLFI), the crypto firm backed by US President Donald Trump’s family. In a March 28 letter from the US Senate Banking Committee, Massachusetts Senator Elizabeth Warren and four other Democrats asked the Federal Reserve’s committee chair on supervision and regulation, Michelle Bowman, and acting comptroller of the currency, Rodney Hood, how they intended to regulate WLFI and its stablecoin, USD1. March…

Bitso Launches Mexican Peso Stablecoin on Arbitrum

Through Juno, a new subsidiary dedicated to digital assets and stablecoin issuance, Bitso aims to introduce the Mexican peso stablecoin to serve several use cases, with remittances and cross-border payments facilitation at the center. Bitso Introduces Juno, Launches Mexican Peso Stablecoin The stablecoin market is heating up, and companies are now backing them with currencies […] Source CryptoX Portal

Tether’s crosschain USDT0 stablecoin launches on OP Superchain

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Tether’s crosschain US-dollar stablecoin, USDT0, has been deployed to Optimism’s Superchain, increasing access to the world’s most widely used stable asset across Ethereum’s layer-2 ecosystem. On March 27, Optimism announced that the dollar-pegged USDT0 is now live on the OP mainnet. The crosschain stablecoin’s first deployment was on Ink, Kraken’s DeFi-focused layer-2. USDT0 is essentially a bridged version of Tether’s USDt (USDT) designed to extend the stablecoin’s adoption across various blockchains. Tether launched USDT0 in January in collaboration with the interoperability protocol LayerZero. One month later, Tether selected Arbitrum as…

Circle, Intercontinental Exchange to explore stablecoin integration

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Stablecoin issuer Circle and Intercontinental Exchange (ICE), the company that operates the New York Stock Exchange (NYSE) among others and provides clearinghouse services, are collaborating to explore stablecoin integration in ICE’s operations. The companies will explore the potential integration of Circle’s US dollar stablecoin (USDC) and its US Yield Coin (USYC) into ICE’s derivatives exchanges, clearinghouses, data services and other systems, under a memorandum of understanding (MoU) announced March 27. Lynn Martin, president of the New York Stock Exchange, issued this statement alongside news of the collaborative partnership: “We believe…