Stablecoin Archives

Yala’s Strategic Roadmap Unveiled: Bring Bitcoin Liquidity Across Blockchain With a Meta-Yield Stablecoin

March 22, 2024 boss

PRESS RELEASE. [Singapore, Mar 22, 2024] Yala, a project that enables the seamless transfer of Bitcoin liquidity through a meta yield stablecoin, is thrilled to announce a comprehensive brand upgrade. This reflects our commitment to making Bitcoin liquidity universally accessible across blockchain ecosystems, enhancing DeFi liquidity efficiency. The upgrade includes a refreshed branding message, a […] Original

Key U.S. Lawmaker McHenry Says House Has ‘Workable’ Stablecoin Bill

March 20, 2024

“The administration’s willingness to move forward with stablecoin legislation, I think, makes it by far the most optimal portion of this to move forward,” Lummis said, noting that Sen. Chuck Schumer (D-N.Y.), the majority leader of the Senate, has said he’s willing to consider such a bill. Source

Stablecoin Project Gyroscope to Conduct Points Program, Launch High-Yield Liquidity Pools

March 19, 2024

Gyroscope’s Rehype liquidity pools are long on yield maximization. Lewis Gudgeon, co-founder of the project’s development team, FTL Labs, said depositors will have exposure to at least three sources of yield from lending assets into the pool. According to a press release, the pool’s true returns are “expected to often reach” around 15%. Source

Stablecoin Sector Expands by $4.95B in 12 Days, USDE Sees 376% Supply Increase, Tether Hits $103B

March 15, 2024

In the past 12 days, the stablecoin sector has experienced a growth of $4.95 billion, reaching a new 2024 high of $149.03 billion in market valuation. Among various dollar-tied tokens that have seen their supply numbers go up over the last 30 days, Ethena’s USDE stands out with a 376% increase in its supply during […] Source CryptoX Portal

Hong Kong Monetary Authority Launches Stablecoin Issuer Sandbox

March 14, 2024

On March 12, the Hong Kong Monetary Authority (HKMA) launched what is known as the stablecoin issuer sandbox arrangement. The HKMA stated that applicants interested in establishing a stablecoin business in Hong Kong should have a sound business plan. The regulator also clarified that admission into the sandbox does not imply endorsement or support for […] Source CryptoX Portal

Israeli Crypto Firm Launches Pilot for First Shekel-Backed Stablecoin

March 14, 2024

Israel has taken a significant step in the cryptocurrency domain by green-lighting a pilot for BILS, the first stablecoin pegged to the New Israeli Shekel. Bits of Gold and Israeli Authority Launch BILS Stablecoin in Regulatory Sandbox The initiative, spearheaded by the crypto broker Bits of Gold in collaboration with the Israeli Capital Market, Insurance […] Source CryptoX Portal

Hong Kong’s Central Bank Starts Regulatory Sandbox for Stablecoin Issuers

March 12, 2024

“Applicants should have genuine interest in developing a stablecoin issuance business in Hong Kong with a reasonable business plan, and their proposed operations under the sandbox arrangement will be conducted within a limited scope and in a risk-controllable manner,” the HKMA notice said. Source

Despite Crypto Uptick, Paypal’s PYUSD Stays Quiet in the Top Ten Stablecoin Race

March 11, 2024

In the last day, the global trading volume has hit $203 billion, with stablecoins accounting for an impressive $133 billion of that total. Among the array of stablecoin assets tied to the U.S. dollar, Paypal’s PYUSD has emerged as a top ten player. Yet, despite the ongoing cryptocurrency market upswing, PYUSD has shown minimal activity […] Source CryptoX Portal

Stablecoin USDT Now Available on Celo

March 11, 2024

“The integration of Tether USDT on the Celo platform, which is built for the real world, will represent a significant step forward in our mission. By leveraging the unique capabilities of Celo, we can further enhance the usability and accessibility of Tether for millions of people,” said Paolo Ardoino, CEO of Tether. Source

FDUSD Climbs the Stablecoin Ladder, Fueled by Trading Volume and Supply Growth

March 8, 2024

Statistics indicate that the first digital usd (FDUSD), a recently introduced fiat-pegged token launched in August 2023, has risen to become the fourth-largest stablecoin based on market capitalization. Currently, FDUSD holds the fourth position in terms of 24-hour global trading volume. FDUSD Claims Fourth Spot Among Stablecoin Titans In the realm of U.S. dollar-pegged cryptocurrencies, […] Source CryptoX Portal