Category: Stablecoin
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USDC Becomes First Major MICA Compliant And Regulated Stablecoin In The European Economic Area (EEA)
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In a significant development for the digital assets landscape, circleCircle, a global fintech and USDC issuer, announced that its French entity has become the first global stablecoin issuer to achieve compliance with the European Union’s pioneering Markets for Crypto-Assets (MiCA) regulatory framework. This achievement underscores Circle’s commitment to building a…
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USDC Becomes First Major MICA Compliant And Regulated Stablecoin In The European Economic Area (EEA)
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In a significant development for the digital assets landscape, circleCircle, a global fintech and USDC issuer, announced that its French entity has become the first global stablecoin issuer to achieve compliance with the European Union’s pioneering Markets for Crypto-Assets (MiCA) regulatory framework. This achievement underscores Circle’s commitment to building a…
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Solana’s Stablecoin Volume Plummets To $7 B From $100 Billion
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Solana, The blockchain platform heralded as a rising star in the decentralized finance (DeFi) space has found itself at the center of a stunning revelation. According to recent reports, the platform’s daily stablecoin trading volume, which was once estimated at $75-100 billion, has dropped by a staggering 93% to just…
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Solana’s Stablecoin Volume Plummets To $7 B From $100 Billion
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Solana, The blockchain platform heralded as a rising star in the decentralized finance (DeFi) space has found itself at the center of a stunning revelation. According to recent reports, the platform’s daily stablecoin trading volume, which was once estimated at $75-100 billion, has dropped by a staggering 93% to just…
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Here’s How Much Stablecoin Transfer Volume Has Increased Over the Past 4 Years
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According to Token Terminal data, monthly stablecoin transfer volume rose to over $1.68 trillion in April, representing a significant increase from the $100 billion recorded in October 2020. This 16-fold increase highlights the potential of stablecoins in enhancing financial operations and facilitating cross-border transfers. Record-breaking stablecoin volumes In a recent…
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Navigating The Lummis Gillibrand Act, Stablecoin Regulatory Landscape: A Comprehensive Exploration
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The world of digital finance has seen a rapid rise in the importance of stablecoins, which are crypto assets designed to maintain a stable value compared to a reference asset, usually the US dollar. As this innovative financial instrument has gained momentum, policymakers have grappled with the need to create…
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Navigating The Lummis Gillibrand Act, Stablecoin Regulatory Landscape: A Comprehensive Exploration
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The world of digital finance has seen a rapid rise in the importance of stablecoins, which are crypto assets designed to maintain a stable value compared to a reference asset, usually the US dollar. As this innovative financial instrument has gained momentum, policymakers have grappled with the need to create…
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Transak to integrate PayPal’s stablecoin on platform
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Transak has announced the listing of PayPal’s stablecoin, PayPal USD (PYUSD), on its platform. Transak users can now buy PYUSD using their preferred local payment methods. This integration was a strategic move aimed at overcoming the fundamental challenge of broader cryptocurrency adoption – the conversion of traditional currencies to cryptocurrencies.…
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Australia’s largest bank shuts down stablecoin project: report
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National Australia Bank has reportedly halted development of its own stablecoin called AUDN just a year after such plans were first revealed. National Australia Bank (NAB), one of Australia’s four largest financial institutions, has quietly stopped work on its Ethereum-based stablecoin, with the team responsible for development reportedly leaving the…
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Australia’s largest bank shuts down stablecoin project: report
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National Australia Bank has reportedly halted development of its own stablecoin called AUDN just a year after such plans were first revealed. National Australia Bank (NAB), one of Australia’s four largest financial institutions, has quietly stopped work on its Ethereum-based stablecoin, with the team responsible for development reportedly leaving the…
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Stablecoin Giant USDT (Tether) Solidifies Foothold In Bitcoin Mining With 25% Stake In Bitdeer
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In an exciting development, the issuer of the stablecoin USDT, pregnancy, made a strategic investment by acquiring a significant 25% stake in prominent Bitcoin mining company, Bitdeer. The move, as confirmed by a recent SEC filing, places Tether as Bitdeer’s second-largest shareholder, after Victory Courage Ltd., a company linked to…
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Paxos Launches Yield-Bearing Stablecoin in Argentina in Partnership with Crypto Platforms
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Navigating the present and future of IBs in South Africa | Fmas:24 Navigating the present and future of IBs in South Africa | Fmas:24 Navigating the present and future of IBs in South Africa | Fmas:24 Navigating the present and future of IBs in South Africa | Fmas:24 Navigating the…
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MiCA Regulations Force Binance to Overhaul Stablecoin Services
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As of June 30, 2024, the European Economic Area (EEA) will impose new regulations within the Markets for Crypto Assets (MiCA) framework, specifically targeting stablecoins. Binance, one of the world’s largest cryptocurrency exchanges, plans to roll out sweeping changes to ensure compliance, affecting everything from trading to rewards. Only regulated…
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Ripple’s Stablecoin Set For ‘Great Impact’: Top Economist
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at recent days Input For Finextra, Carlo RWD De Meijer, an independent economist and owner of De Meijer Independent Financial Services Advisory (MIFSA), provided an in-depth analysis of Ripple’s upcoming stablecoin launch. De Meijer, who has nearly four decades of experience working at institutions such as ABN, ABN AMRO and…
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More Than 90% Stablecoin Transactions Aren’t From Real Users, Reports VISA
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Image from the internet The rapid expansion of the stablecoin market has captured the attention of the cryptocurrency world, with advocates touting these digital assets as a revolutionary force in the $150 trillion global payments industry. However, a recent study, co-developed by Visa, revealed a startling fact – more than…
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Over 90% of Stablecoin Transactions Not Genuine
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The stablecoin sector is no stranger to controversy, but a recent study questions whether these assets are as widely used as claimed. According to the report, a new metric developed by US multinational payment giant Visa indicates that more than 90% of stablecoin transactions are not done by real users,…
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Nearly all stablecoin transactions are from bots and large-scale traders, study says
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More than 90% of stablecoin transaction volumes do not come from real users, according to a new metric co-developed by Visa Inc, suggesting that such cryptocurrency tokens may be a long way from becoming a commonly used means of payment. The dashboard from Visa and Allium Labs is designed to…
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Stablecoin Tether steps up monitoring in bid to combat illicit finance By Reuters
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Written by Elizabeth Howcroft LONDON (Reuters) – The world’s largest stablecoin has stepped up monitoring of how its tokens are used in the broader cryptocurrency and payments markets in a bid to combat illicit financing, Tether said in a statement on Thursday. Tether, a cryptocurrency pegged to the US dollar,…
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MAS Regulated Digital Asset Custodian, Propine Introduces Support for Fathom Dollar $FXD Stablecoin on XDC Network
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(Press Release – Singapore, Singapore, May 2, 2024) MAS-supervised trustee Propane Announces support for Fathom Dollar’s FXD, a stablecoin pegged to the US dollar designed to bridge the $5 trillion trade finance gap. This development puts FXD at the forefront of real assets (RWA), leveraging the power of blockchain to…