BTG Pactual, the investment bank Major in Latin America, just recently announced that it would launch its own stablecoin called BTG Dol. The bank has issued an official statement (1) indicating that the stablecoin will operate on the Polygon network and is currently available to customers. The blockchain network that the bank has decided to … Read more
Circle, the company that issues USDC stablecoins, was dealt a significant blow earlier this month when the Silicon Valley Bank (SVB) went bankrupt. SVB was Circle’s primary banking partner, and that partnership’s failure resulted in significant withdrawals of the USDC stablecoin. The USDC stablecoin at one point lost its USD peg, which caused more concerns; … Read more
The American global financial services company Mastercard Inc has engaged in a strategic agreement with Fintech Stables, an Australian startup, with the goal of accelerating the adoption of stablecoins in the Asia-Pacific area. Users of the Stables platform will be able to make payments for items and services with their USD Coin (USDC) at any … Read more
The Swiss Banking Association (SBA) recently published a white paper (1) in which they advocated the issuing of a joint deposit coin on a public blockchain. This token would be used to record deposits made by users. The SBA made a note of the widespread agreement that stablecoins should be issued by recognized organizations and … Read more
KuCoin recently took the initiative to lead a funding operation raising $10 million for an offshore Chinese yuan stablecoin issuer, CNHC. This investment made by the most prominent cryptocurrency exchange is a component of a larger plan to promote stablecoins. Circle was among the many prominent industry investors who contributed to the CNHC investment round. … Read more
Even while US officials are cracking down on stablecoin issuers, the asset class continues to draw market participants from all around the cryptocurrency ecosystem. A recent proposal for a new stablecoin based on Bitcoin was made by, who was a co-founder & former CEO of the cryptocurrency exchange BitMEX. Given how volatile Bitcoin is, this … Read more
The regulatory environment surrounding cryptocurrencies in the United States has been fraught with ambiguity for some time. On March 8, the Chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, testified before the Senate Agricultural Committee that most stablecoins are commodities. Curiously, he also includes Ethereum (ETH) in this group, and he adds that … Read more
With the failure of FTX and Alameda before the end of 2017, the cryptocurrency exchange known as Binance, which is currently the largest in terms of daily traded volume and total user base, is the subject of intense scrutiny. Crypto experts have found malicious transactions within the firm’s wallets, even though the company has published … Read more
Each stablecoin is taking its turns to plan its breakthrough plays as the competition between the two top stablecoins continues to see new rivalries every month. Therefore, to keep you up to date, below is the most recent fact check regarding the current standings of this ongoing battle. Stablecoins had a total market capitalization of … Read more
Hackers took advantage of a flaw in the liquidity pool of the decentralized finance (DeFi) platform Acala, which is based in Polkadot, and caused its aUSD stablecoin to fall by 99%. This caused the list of not-so-stable stablecoins to gain a new entry. According to data provided by CoinGecko, the value of the stablecoin dropped … Read more