Tag: Stablecoin

Trump’s World Liberty eyes stablecoin launch: report 

Former President Donald Trump’s crypto project, World Liberty Financial, is reportedly planning to issue its own stablecoin, according to Decrypt. The stablecoin is expected to be pegged to the U.S. dollar to maintain a steady value amid the cryptocurrency market’s volatility. Sources close to the project told Decrypt that World Liberty is still assessing how to safely structure the coin before its launch. This new venture follows World Liberty’s recent $14 million initial token sale and coincides with the appointment of Paxos co-founder Rich Teo, who will oversee the project’s…

RD InnoTech Targets Future Stablecoin Launch with HashKey Exchange, Advancing Cross-Border Payment Ambitions

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HONG KONG, Oct. 28, 2024 /PRNewswire/ — RD InnoTech Limited (RD InnoTech), a subsidiary of RD Technologies Group, is steadily advancing the issuance of its HKDR stablecoin. From the outset, RD InnoTech has focused on ensuring HKDR complies with rigorous regulatory standards while preparing for seamless market entry to support international payments and cross-border transactions. On July 18, 2024, RD InnoTech was admitted into the Hong Kong Monetary Authority (HKMA) stablecoin issuer sandbox, establishing a crucial framework for future compliant operations. RD InnoTech plans to roll out its HKDR stablecoin on…

Stripe reportedly acquires stablecoin platform Bridge in $1.1b deal

Payments giant Stripe has completed the acquisition of stablecoin platform Bridge following a deal valued at over one billion dollars. Without revealing any details, Michael Arrington, co-founder of TechCrunch, confirmed the acquisition via an Oct. 20 X post, noting that the acquisition cost Stripe $1.1 billion.  As of press time, the companies have yet to make an official statement about the purchase.  Last week, crypto.news reported that the firms were in the final stages of negotiation, but a decision had not been made. Neither, Stripe, nor Bridge had confirmed the…

Yellow Card Raises $33M to Expand Stablecoin Presence in Africa

Yellow Card, a leading African stablecoin platform, closed a $33 million Series C funding round led by Blockchain Capital. The funding signifies a milestone for Yellow Card and the African fintech industry, highlighting the potential of stablecoins on the continent. This raise brings Yellow Card’s total equity financing to $85 million. Digital Assets Gain Ground […] Source CryptoX Portal

From $3.6T to $1.2T: The Surprising Decline in Stablecoin Transfer Volume Unveiled

Since October kicked off, the stablecoin market has experienced a modest boost, though overall growth has remained quite slow. Currently, the sector is valued at $172.7 billion, with 48.9% of stablecoins residing on Ethereum and 34.92% circulating on Tron. Although the stablecoin landscape has expanded considerably since the start of the year, transfer volumes have […] Source CryptoX Portal

Hermetica Raises $1.7M in Seed Round to Fuel Stablecoin Expansion

Hermetica, the creator of USDH, a Bitcoin-backed, yield-bearing synthetic dollar, has secured $1.7 million in seed funding. The round, led by UTXO Management, will accelerate the development of USDH, a stablecoin that operates on Bitcoin’s layer one (L1) and layer two (L2) networks. USDH Gains Momentum as Hermetica Raises $1.7 Million in Seed Funding According […] Source CryptoX Portal