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
Trade in cryptocurrencies Coinbase has been hard at work on a number of important projects, one of which is the development of inflation-pegged flatcoins that will be built on its recently released Layer-2 network Base. Flat coins are one of the four most important developments that Coinbase believes (1) will shape the future of cryptocurrency. … Read more
Xapo Bank, a bitcoin custodian that also operates as a privately licensed bank, has teamed up with Circle to develop an alternative to SWIFT based on USDC payment rails. The bank claims that it has installed rails on the already existing USDC onramps. As a direct result of this, users of Xapo Bank are able … Read more
Using the TON Blockchain, Telegram Messenger is gradually becoming a substantial Web3 protocol. The wallet bot for the instant messaging app has been updated to support Tether (USDT), which is the largest stablecoin in terms of daily traded volume and market capitalization. As a direct consequence of this, users of Telegram are now able to … 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 design of central bank digital currencies (CBDCs) was investigated by the International Monetary Fund (IMF), which discovered certain dangers associated with Islamic banking as a result of their findings. The analysis conducted by the IMF revealed (1), to everyone’s surprise, that the flexibility of CBDCs and foreign exchange would operate in a manner inconsistent … Read more
Kaiko, a French company that provides statistics on the crypto market, will relocate its base from Singapore to Hong Kong to take advantage of the better opportunities available in the future center for Web3 enterprises. It was revealed in an interview with Ambre Soubiran, the Chief Executive Officer of Kaiko, that the company would be … 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