Tag: Stablecoin

Stablecoin Giant Circle Is Launching a New Payments and Remittance Network

Circle, the firm behind the $60 billion USDC stablecoin, is launching a new payments and cross border remittance network on Tuesday — the company’s “next product move” — from its plush New York City headquarters, high on the 87th Floor of One World Trade Center. The launch event is aimed at banks, fintechs, payment service providers, remittance providers and USDC strategic partners. It will feature Circle CEO Jeremy Allaire sharing his vision for the stablecoin giant’s next move within the payments space, according to an invite seen by CryptoX. New…

Synthetix’s sUSD stablecoin continues fall after depeg, tapping $0.68

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The Synthetix protocol’s native stablecoin, Synthetix USD (SUSD), has slipped further away from its US dollar peg, reaching new all-time lows under $0.70.  However, the firm reiterates that this isn’t the first time the asset has been under significant stress, and several risk measures are in place. “Synthetix and sUSD have weathered multiple bear markets and periods of stablecoin volatility; this is not the first resilience test,” a spokesperson from Synthetix told Cointelegraph. SUSD down almost 31% from its intended 1:1 peg sUSD is a crypto-collateralized stablecoin. Users lock up…

Wyoming commission floats whether stablecoin is ‘covered’ by SEC rules

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The Wyoming Stable Token Commission, a body authorized by the US state to issue a stablecoin, has suggested that it may clarify its language to better comply with potential guidelines from the Securities and Exchange Commission (SEC). In an April 17 meeting in the extension of the Wyoming Capitol building, Commissioner Joel Revill suggested the body could reduce the risk of the state’s proposed WYST stablecoin qualifying as a security under SEC rules. The discussion among the commissioners and Executive Director Anthony Apollo followed the SEC issuing guidelines that certain…

Fed’s Powell reasserts support for stablecoin legislation

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As digital assets gain mainstream adoption, establishing a legal framework for stablecoins is a “good idea,” said US Federal Reserve Chair Jerome Powell. In an April 16 panel at the Economic Club of Chicago, Powell commented on the evolution of the cryptocurrency industry, which has delivered a consumer use case that “could have wide appeal” following a difficult “wave of failures and frauds,” he said. Powell delivers remarks at the Economic Club of Chicago. Source: Bloomberg Television During crypto’s difficult years, which culminated in 2022 and 2023 with several high-profile…

Stablecoin Market Will Top $2T by 2028: Standard Chartered

The bank published a report that estimates an almost ten-fold increase in the supply of stablecoins by the end of 2028 if the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act is passed later this year. Standard Chartered Predicts $2 Trillion Stablecoin Market by 2028 London-based Standard Chartered bank published a research report […] Source CryptoX Portal

What’s Up With Synthetix Stablecoin (sUSD) as USD Peg Drops to $0.83?

Key Notes Cork Protocol co-founder Rob Schmitt warned of a potential “death spiral scenario” for sUSD, drawing parallels to TerraUSD’s 2022 collapse. Schmitt emphasized differences in Synthetix’s $30 million treasury reserves, which could mitigate risks during a deleveraging event. Synthetix founder Kain Warwick acknowledged the instability, citing the removal of a key driver behind sUSD demand. Synthetix USD (sUSD), the native stablecoin of the Synthetix protocol has lost its USD-peg, dropping to a five-year low of $0.83 and leaving investors worried about what’s happening next. Since the beginning of 2025,…

Tether May Develop U.S.-Only Stablecoin Under New Regulations: FT

Tether, issuer of the world’s largest stablecoin USDT, may offer a new token specifically for the U.S., according to a Financial Times report on Monday. Paolo Ardoino said the company had been involved in discussions about the U.S. rules on stablecoins and that it may create a token just for the U.S, depending on how these discussions unfold, the FT reported, citing an interview with the Tether CEO. Ardoino said that if new rules are brought in”make [U.S.] stablecoins competitive, there could be an interest from Tether to create a…

Latam Insights: Largest Latam Bank Mulls Stablecoin, Brazil Bans Retirement Funds From Investing in Crypto

Welcome to Latam Insights, a compendium of the most relevant crypto and economic news from Latin America over the past week. In this week’s edition, Itau reveals it is considering launching its own stablecoin, Brazil bans retirement funds from investing in crypto, and also champions local currency payments as a BRICS member. Largest Bank in […] Source CryptoX Portal

Stablecoin supply surges $30B in Q1 as investors hedge against volatility

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Despite a $30 billion surge in stablecoin supply to new record levels, cryptocurrency investors remained cautious as they awaited market stability amid US tariff fears. The total stablecoin supply rose by more than $30 billion in the first quarter of 2025, even as the overall crypto market capitalization fell 19%, according to a new report by crypto intelligence platform IntoTheBlock. “The correlation between crypto and stocks climbed as macro expectations quickly shifted from “golden era” optimism to tariff-led doom and gloom,” according to IntoTheBlock’s quarterly report, shared with Cointelegraph. Source:…

Stablecoin adoption grows with new US bills, Japan’s open approach

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Stablecoins are front and center of late: Critical bills have made their way through US Congress, First Digital’s coin briefly depegged over reserve concerns, and Coinbase’s efforts to take on banks saw pushback from lawmakers — to name just a few recent headlines. Dollar-backed cryptocurrencies are under the spotlight as the market considers the role of the US dollar and the future of US economic power under the controversial policies of President Donald Trump. In Europe, stablecoins face a stricter regulatory regime, with exchanges delisting many coins that aren’t compliant…