In today’s edition of the weekly recap: Bitcoin ETFs enjoy a resurgence; Donald Trump’s World Liberty Financial undersells; and Ripple provides updates on a new stablecoin. Bitcoin ETFs recovery BTC breaches $68k Trump launches WLFI Harris addresses crypto, Trump widens… Original
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
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, 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
Hermetica, the company behind the Bitcoin-backed stablecoin USDh, has raised $1.7 million in seed funding. The funding will support the growth of USDh, a stablecoin designed to be backed by Bitcoin (BTC). A stablecoin is a type of cryptocurrency that aims to keep its value tied to a stable asset, like the U.S. dollar, instead of fluctuating like Bitcoin. USDh allows Bitcoin holders to transact with a digital asset pegged to the value of the U.S. dollar without leaving the Bitcoin ecosystem. For example, 1 USDh equals 1 USD worth…
Ripple has announced that its new USD-denominated stablecoin, RLUSD, will be available globally through strategic partnerships with major platforms, including Uphold, Bitstamp, Bitso, Moonpay, Independent Reserve, Coinmena, and Bullish. Fully backed by U.S. dollar reserves, government bonds, and cash equivalents, RLUSD is positioned to enhance financial solutions while ensuring transparency and stability. Ripple Introduces RLUSD […] Source
The European Markets in Crypto-Assets Regulation (MiCA) has made a noticeable impact on the euro stablecoin landscape, according to a fresh report by Kaiko. The research points out that MiCA’s rollout has triggered several delistings and adjustments to offerings on major exchanges. Study: Euro Stablecoin Market Transformed by MiCA Three months into MiCA’s enforcement, the […] Source CryptoX Portal
Payments firm Ripple is announcing exchange partners for the launch of RLUSD, the company’s new dollar-pegged stablecoin. According to a new press release, Ripple Labs is collaborating with crypto platforms Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish to launch Ripple USD. Beta testing for RLUSD rolled out on the Ethereum (ETH) mainnet and the XRP Ledger (XRPL) two months ago. Ripple first announced plans for RLUSD in April 2024. In a court filing in May, the U.S. Securities and Exchange Commission (SEC) argued that the planned stablecoin represented an “unregistered crypto asset.”…
Liu said that while a portion of that capital is being used for other purposes – for example, to earn yield through DeFi protocols – the sheer size of the available liquidity meant that, if crypto prices start rising again, stablecoins will likely add fuel to the fire. Source
MIAMI, U.S. – Ripple named exchange and market maker partners for its upcoming dollar-pegged stablecoin, RLUSD, on Tuesday at the Ripple Swell 2024 conference in Miami, Florida. The firm also added ex-Federal Deposit Insurance Corporation (FDIC) chair, Sheila Bair, and David Puth, the former CEO of Centre, a consortium which set standards for USD Coin (USDC), to the advisory board for its stablecoin. Source