“We’ve added programmatic daily yield so this looks a little bit more like a savings product than a checking account product, which is maybe the way to think about traditional stablecoins,” Cascarilla said in an interview. “[USDL] is going one step further from democratizing access to dollars, to also democratizing the risk-free rate, in the safest manner possible.” Source
Ripple president Monica Long said the XRP issuer is likely to enter the $161 billion stablecoin market before the end of the year. The stablecoin market is growing in leaps and bounds as experts predict a multi-trillion ecosystem for U.S. dollar-pegged tokens in the next three to five years, Ripple’s Long stated in an interview with CNBC at Money 20/20 in Amsterdam. According to Ripple’s president, the stablecoin market is primarily driven by demand for access to U.S. dollars and an efficient global fiat-denominated payment system powered by blockchain technology. …
El Dorado, which is available in Argentina, Brazil, Colombia, Panama, Peru and Venezuela, provides a cheaper way to send, exchange and pay using blockchain as payment rail. The platform charges 0.6% fee for cross-border payments, significantly less than the industry average, while in-app payments are free. Source
Austin, Texas, May 29th, 2024, Chainwire Agora brings to Sui an exceptional blend of technology, financial markets, and operations experience paired with blue-chip traditional finance partners and backers. Sui, the Layer 1 blockchain offering industry-leading performance and infinite horizontal scaling, announced the launch of stablecoin AUSD on the network, set to occur in July 2024. With this strategic deployment, which is only available on select chains, AUSD becomes the second native stablecoin within the Sui ecosystem as the number of native assets on the network rapidly grows. Agora is led…
“Ethereum works well enough,” said PayPal’s Senior Vice President of Blockchain, Jose Fernandez da Ponte. “But if you’re interested in retail payments as we are, basically you need at least 1000 transactions per second, and you need transaction costs in the pennies, not in the dollars.” Source
In an interview on Monday, U.S. Representative French Hill emphasized legislative efforts to enable the private sector to lead the development of a dollar-backed payment stablecoin and predicted quicker market entry for spot Ethereum ETFs compared to Bitcoin ETFs. U.S. Representative French Hill, chair of the subcommittee on digital assets, discussed future stablecoin-related policy in the United States during a CNBC “Squawkbox” interview. “We are still working on a payments stablecoin bill that will let the private sector here lead… on a dollar-backed payment stablecoin,” Hill said. Hill mentioned that…
The stablecoin market has experienced modest growth over the past two weeks, with valuations increasing by approximately $590 million. Among the top five U.S. dollar stablecoins, Ethena’s USDE saw the largest supply growth, rising 17.5%. In contrast, First Digital’s FDUSD experienced a 29% supply decrease. Stablecoin Valuations Adjust With Diverse Market Movements in May Since […] Source CryptoX Portal
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. TrueUSD (TUSD) has joined efforts with Bitci to offer various stablecoin campaigns, including a zero-fee trading campaign that offers users an opportunity to trade TUSD without fees. This initiative offers a zero-fee trading promotion for the TUSD/TRY trading pair, making it an attractive time for traders and stablecoin users to engage with the cryptocurrency. Türkiye’s crypto market booms; TUSD’s trading campaign on Bitci exchange Türkiye has become a notable…
“The collaboration between USDX and Clearpool on Flare delivers a 1:1 backed stable asset with immediate access to real world yield,” Flare’s co-founder Hugo Philion said. “This will be particularly useful for FAsset agents, putting their stable collateral to work even while it’s locked in the system.” Source
The San Francisco-based crypto exchange Kraken is reportedly mulling whether to pull support for the stablecoin USDT in the European Union (EU). Bloomberg reports that Kraken is “actively reviewing” its European support for the Tether-issued stablecoin. European digital asset trade associations and think tanks have warned that the EU’s Markets in Crypto-Assets Regulation (MiCA) could ban the largest stablecoins by trading volume. MiCA is the upcoming EU legislation that will provide rules covering the supervision, consumer protection and environmental safeguards of crypto assets. The law also includes measures that aim…