Category: Stablecoin
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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…