Stablecoin

ECB Says Banks Should Find Better Alternatives to Libra

Commercial banks should work out their own transfer systems as an alternative to Facebook’s Libra, urged Jens Weidmann, President of Bundesbank and member of the Governing Council of the European Central Bank (ECB). Euro Area Banks Should Not Rely on Facebook’s Libra Banks in the Euro area should explore tools for faster, cheaper transfers, but...
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Tron-Based Tether Has Ballooned to Over 900 Million Tokens, Almost 22% of Total Supply

Since Tether’s (USDT) migration to other networks beside the BTC-based Omni protocol, significant shifts have taken place seeing the heavily-printed stablecoin rise to prominence also via Ethereum’s ERC20 standard and Tron’s TRC20 implementation. Ethereum-based USDT supply currently sits at over 2.2 billion tokens, while the Omni equivalent stands at around 1.5 billion. The Tron network...
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Tokyo Stablecoin To Be Used In 50% Of Transactions By 2025

The major social video platform YouTube admits that there was an error with some of the cryptocurrency-related videos which were deleted by the giant this month. After several days of unilateral deletions and a lot of buzz in the Bitcoin and altcoin news, the video giant finally put an end to the non-communication and responded...
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Korean Stablecoin Cryptocurrency Used at Major Stores Sees Massive Spike in Volume

Korean stablecoin, Terra saw a massive spike in volume yesterday, up 280% on the previous day. And, as a cryptocurrency that sells itself as a payment system, this may well hint at the burgeoning acceptance of crypto as money.Winter is here and ecommerce volumes are through the roof. @terra_money saw 11 BILLION KRT (korean won...
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Why Canada’s Crypto Industry is Threatened by Tax Rules?

Canadian tax authorities’ approach to crypto-assets might discourage the country’s citizens from using digital assets, as things like double taxation remain an issue. While the US still struggles to bring regulatory clarity to the world of cryptocurrencies, its neighbor, Canada, currently faces taxation issues. The country was quick to introduce crypto taxes as early as...
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PBOC Official: China’s Digital Yuan Won’t Be a Speculative Currency Like Bitcoin

According to recent statements by People’s Bank of China (PBOC) official Mu Changchun, the country’s digital yuan is ready for trials. The central bank digital currency (CBDC) will decidedly not be a speculative asset like bitcoin or stablecoins, and will not need a currency basket for backing, Changchun affirmed. Reactions to the announcement are varied,...
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Garnex Joins Expanding Pool of Asset-Supported Stablecoins with GLD Digital Currency

Garnex — an electronic payments project is the latest entrant into the expanding pool of digital currency providers looking to stable currencies. With the wild volatility swings common in cryptocurrency and the emerging trend of moving away from fiat currencies, stablecoin projects are beginning to take center stage. Governments and central banks have even joined...
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Africa Turns Towards Binance Chain For its StableCoin “ABCD”

African Government is all set to launch a stablecoin pegged to 1:1 to Nigerian Naira. The stablecoin ABCD will be launched on Binance‘s native blockchain, the Binance Chain. Ghana-based cross-border money transfer startup Bit Sika & Linova Capital – crypto-focused investment firm will launch this stablecoin. Furthermore, 9 exchanges including Busha and Bitmama supports this...
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Africa’s First Stablecoin is Built on Binance Chain

Africa’s first stablecoin, the Africa Stable-Coin(ABCD) is backed by Nigeria’s national currency, the Naira. Also, the fiat-backed crypto is built on Binance’s native blockchain, the Binance Chain.  The crypto momentum in Africa doesn’t seem to die down. Budding startups are leveraging blockchain and decentralized ledger technology to create novel applications that will change the future...
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Saga Blockchain Firm Launches Libra-Like SGA Global Coin

The Coinjer scam is one of the newest scams that happened in crypto-related social media. The con mainly works from Telegram channels and cons people into “investing” Bitcoin in order to earn more and we are reading more about it in today’s crypto news.The Coinjer scam is a relatively speaking a small attempt to siphon...
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Nobel Winner-Backed Saga Launches Libra-Like Global Coin

London-based blockchain firm Saga announced the launch of its Saga token (SGA). The digital unit represents a global currency that complies with regulators’ requirements. Saga Advised by Nobel Prize Winner, Former Bank of Israel Governor The currency is backed by a basket of fiat currency to avoid high volatility. Thus, it acts like a stablecoin...
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DAI is now a Supported Asset on the Coinbase Card

Coinbase continues to explore its options in the cryptocurrency space. That also includes adding support for digital assets in any way possible. As far as the Coinbase Card is concerned, it has now received DAI stablecoin functionality. A Different Asset for the Coinbase Card It is the first time any stablecoin is supported on this...
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EU Finance Ministers Place Defacto Ban on Libra

Libra’s ongoing organizational snags and run-ins with regulators continue into December, as EU finance ministers agreed Thursday that Libra cannot be launched in the EU until concerns are adequately addressed. The finance ministers issued a joint statement citing regulatory “challenges and risks.” Also Read: Libra Testnet Fails to Impress as New Legislation Looms Lawmakers Still...
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Venture Capitalists Have Invested Over $200M in Stablecoins

Does the world need more stablecoins? Yes according to VCs, who have thrown hundreds of millions of dollars at projects developing stable or low volatility digital assets. The $45 million committed in 2019 takes the past two years of VC investment to over $200M. Also read: RBI Governor Discusses Crypto and Central Bank Digital Currency...
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USDTZ is a DAI “Clone” to be Issued on the Tezos Blockchain

The year 2019 is slowly becoming the era of stablecoins. It appears a new type of currency will be issued in the Tezos blockchain, called USDTZ. The demand for stablecoins is not slowing down in the cryptocurrency industry.  USDTZ is an Interesting Type of Stablecoin  So far, not one project has been able to dethrone...
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Canadian CUSD Stablecoin Launched By Blockchain Venture Capital

The cryptocurrency news this year (2019) showed a lot of ups and downs for the prices of the biggest cryptocurrencies. However, prices aside, we have seen crypto making big moves in a lot of industries. Today, we are talking about the crypto adoption in 2020 and what will be the main driving factors behind it.Right...
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Dai Stablecoin Debt Ceiling Reached: What It Means and What Comes Next

MakerDAO’s Dai stablecoin has become a darling in the Ethereum decentralized finance ecosystem. And in short order, demand for the dollar-pegged cryptocurrency is growing. That’s because the Dai stablecoin’s artificial debt ceiling of $100 million USD was reached for the first time this week, a DeFi milestone indicating demand for automated Dai loans made via...
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Xfers Partners With Zilliqa To Launch StraitsX Stablecoin

Xfers, a fin-tech company from Singapore, is set to launch a stablecoin called StraitsX by partnering with blockchain platform Zilliqa. The token will be pegged to the Singaporean Dollar, and it would be available in December 2019. StraitsX: A New Stablecoin on Its Way Xfers is a Singapore-based company focusing on online financial services like...
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Maker’s Stability Fee Drops to 5.5% After Multi-Collateral Dai Announcement

According to the CEO of the Maker Foundation, Rune Christensen, Multi-Collateral Dai (MCD) will launch on November 18. On October 28, Maker’s stability fee was reduced by a ‘whale’ with roughly 94% of the voting power. Also Read: French Ministry of Education Publishes Bitcoin Resource Guide for Educators Maker’s Multi-Collateral Dai Will Launch November 18...
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Cryptophyl Exchange Reveals Fiat On-Ramp to SLP Token Ecosystem

The London-based exchange Cryptophyl is a trading platform focused on the Simple Ledger Protocol (SLP) and bitcoin cash (BCH) ecosystem. On October 29, the exchange announced the launch of the first fiat on-ramp to obtain well-known SLP tokens. Also read: Avalon Mining Rig Maker Canaan Files for $400M IPO on Nasdaq Purchasing SLP Tokens With...
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Cred to Demo Global Merchant Solution at Blockchain Week Kick-Off

On Wednesday, October 30, Cred and the Universal Protocol Alliance will be hosting a live demonstration of a point-of-sale (PoS) device that enables purchases with cryptocurrency. Cred’s PoS financial operating system allows customers to utilize any crypto wallet for purchases at the PoS and will debut with bitcoin cash acceptance. Future versions of the Cred...
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“Hell No”: Twitter CEO Jack Dorsey Confirms He’ll Never Join Facebook’s Libra Project

Jack Dorsey, CEO of two multi-billion dollar companies, microblogging network Twitter and payments technology firm Square, has said that Twitter will never join the Facebook-led Libra stablecoin project. On October 24, a Twitter thread by Hollywood Reporter editor Alex Weprin, who was attending an event held at Twitter’s New York location, revealed that Dorsey wants...
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Governments Should Regulate Stablecoins – Not Destroy Them: Research

The United States Financial Crimes Enforcement Network and its director Kenneth Blanco spoke at the University of Georgetown recently where he made it clear that the Anti-Money Laundering (AML) laws directly apply to everyone. The FinCEN chief said that fintech firms offering cryptocurrency users anonymity must comply with AML “just like everyone else.”As reported in...
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G7 Report: Casts Doubts on Stablecoin Cryptocurrencies

A new report from the G7 powers and the Bank of International Settlements (BIS), the central bank of the world’s central banks, argues bitcoin and its ilk have failed to evolve into an “attractive means of payment or store[s] of value” and takes aim at the “risks” and “challenges” posed by stablecoins. The report, dubbed...
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John McAfee: Stablecoins Solve the ‘Fiat Problem’ for Decentralized Crypto Exchanges

John McAfee — cybersecurity expert and crypto bull, says stablecoins could hold the key to solving some of the core issues with decentralized exchanges (DEX). With centralized exchanges still holding sway in the crypto trading markets, some cryptocurrency purists say DEX adoption needs to become the focus if virtual currency dealings are to be truly...
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McAfee Envisions DEX in a World Where Crypto Won’t Be Traded for Fiat

In a recent video posted to Twitter. John McAfee states: “Imagine a world…where fiat currency is diminishing in importance.” Instead of pointing to the adoption of crypto by big money interests, the rogue politician and radical bitcoin proponent talks of a complete flip, where users won’t need to exchange their cryptocurrencies for fiat. Crypto will...
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Why Cryptocurrency is in The Spotlight For More Central Banks

For most of its short life Bitcoin has been a plaything for computer geeks and largely ignored by banks and governments. That all changed in late 2017 when an epic rally sent prices soaring to new peaks. Since then central banks have been paying closer attention to cryptocurrency, especially in recent months as Facebook threatens...
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G7 Confirms Libra Like Cryptocurrency Needs a Legal Basis

Social media giant Facebook has certainly rattled the regulatory feathers of global regulators with its grand plans for cryptocurrency world domination. Politicians and citizens alike are right to question Libra and those that will be pulling the strings behind it. The G7 group of economic powerhouses agrees that such stablecoins should not be allowed to...
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104 Addresses Hold 70% of Tether, Research Reveals

The ownership of tether (USDT) turns out to be quite concentrated. According to a recent report, a few addresses control the bulk of the stablecoin, which is widely used by bitcoin traders. The finding comes on top of fresh accusations of creating a bubble levied in a lawsuit against tether’s operators. That adds to the...
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Survey: Chinese Students Want Crypto Jobs, 8% Own Cryptocurrencies

A poll conducted among university students in China indicates that many of them see a bright future for cryptocurrencies in their country. A quarter of the respondents said they would seek employment in the industry that deals with digital assets and related technologies. Approximately one in 12 students already owns digital coins. Also read: Ukraine...
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