Have you ever wondered what keeps the crypto market afloat during volatile times? Introducing stablecoins, the game changers of the crypto world! This Coinpedia guide is your key to unlocking the secrets of the top stablecoins. We’ll crack open the vault and reveal the power players in the market, put price stability under the microscope,...Read More
The banking giant JPMorgan has raised concerns about Tether possibly being controlled by U.S. authorities soon. Despite its offshore base, Tether’s dominance and regulatory challenges could reshape the stablecoin landscape in the States. Tether’s Vulnerability to U.S. Authorities JPMorgan’s report highlights the power of U.S. authorities, specifically the Office of Foreign Assets Control (OFAC), to...Read More
BlackRock Inc., a prominent asset management firm, the company has brought attention to the potential threats that stablecoins pose to the Bitcoin market. This disclosure, part of a publicly filed document submitted to regulatory bodies, sheds light on the intricate challenges and intricacies within the ever-evolving landscape of cryptocurrency. BlackRock Shed Light’s on Stablecoin Volatility...Read More
Tether will stop supporting three blockchains – Bitcoin Omni, Bitcoin Cash SLP, and Polkadot’s Kusama test chain. This change aims to meet community needs and encourage innovation. On these blockchains, there’s about $240 million USDT on Omni, $986,000 on Bitcoin Cash SLP, and $1.49 million on Kusama. They wrote, “Tether will embark on a strategic...Read More
US financial trade associations and state banking groups have expressed concerns over the stablecoin bill currently under review in the House of Representatives. The American Bankers Association, the Credit Union National Association, and the Consumer Bankers Association all raised issues over the current state charter option and called for increased federal oversight in addition to...Read More
In a recent hearing, the U.S. House Financial Services Committee discussed a draft bill that was released over the weekend. The bill aims to regulate stablecoins, a type of digital currency that is designed to maintain price stability by being pegged to the value of another asset. Prominent Democrats cast doubt on Wednesday over the...Read More
The crypto market is known for its volatility and market participants tend to trade and invest despite this, although they are continually engulfed with fear. To overcome this volatility issue, stablecoins were created, which aim to mirror traditional currencies with blockchain technology. Stablecoin derives its value from getting pegged against the dollar. The stablecoins such...Read More
It is a known fact that the crypto space is now in the middle of a notable bear market which is yet to find its bottom. The star crypto, Bitcoin, currently appears struggling to restore the last line of defence above $20,000. In such a case, the crypto market tumbles down heavily and at the...Read More
Following the $60 billion Terra ecosystem’s catastrophic downfall in early May, Tron has risen to become the third-largest blockchain in the decentralized finance industry (behind only Ethereum and BNB Chain). Justin Sun, the founder of Tron, recently informed Bloomberg that the USDD (USDD) stablecoin would be modified to avoid a Terra-style collapse. Overcollaterization of the...Read More
Tether’s USDT market valuation has decreased by nearly $9 billion after Terra’s UST meltdown. The market saw a dramatic sell-off last week as a result of the collapse of Terra’s UST stablecoin, with USDT trading as low as $0.95. Tether’s “implosion” was approaching, according to the crypto analyst known for his opposing viewpoints. This is...Read More
Popular stablecoin issuer Circle announced that it will be extending support for its USD Coin (USDC) on the Hedera blockchain, making it the first such token to launch on the network. USDC Now Supported on Hedera Announcing the move in a press release today, the firm said users can now deposit, withdraw, and transfer USDC...Read More
COTI, an enterprise-grade fintech platform that empowers organizations to build their payment solutions, recently announced that it will be partnering with Cardano’s stablecoin hub, Ardana. The collaboration will introduce stablecoin crypto-to-fiat payments aimed at the Cardano community, in addition to consumers and merchants worldwide. Speaking in a statement, COTI’s CEO, Shahaf Bar-Geffen, said, “Today, COTI...Read More
Jeremy Allaire, CEO and founder of digital currency company Circle, took to Twitter to share that the circulating amount of the USDC stablecoin is now over 3.3 billion. According to the CEO: Just a week ago we shared that $USDC had crossed 3 billion in circulation. We’re now well over 3.3 billion across chains, 10%...Read More
Popular crypto-platform Circle is in the news after it announced the launch of a major platform upgrade. At the core of Circle’s latest platform upgrade will be a new digital currency native treasury account infrastructure – Digital Dollar Accounts. This upgrade will allow users to store value natively in digital currencies while maintaining compatibility with...Read More
Bankhaus von der Heydt (BVDH), one of Europe’s oldest banks, and German tokenization and digital asset custody provider Bitbond are joining forces to issue a Euro-pegged (EUR) stablecoin (EURB) on the Stellar network. The EURB stablecoin will be the first stablecoin issued directly by a banking institution on Stellar and one of the first of...Read More
As global economies adapt to the Covid-19 pandemic, which is driving the need for contactless payments, federal authorities in the US have shared another update about the development of a digital currency. According to the Deputy Treasury Secretary Justin Muzinich, U.S Treasury along with the Federal Reserve, “is studying” a government-sponsored digital currency or CBDC....Read More
When it comes to the DeFi ecosystem at large, there seems to be a lot of eagerness with regard to the growth of Bitcoin’s DeFi space and on those lines, another startup has taken up the expansion of BTC-backed DeFi products. RSK Infrastructure Framework (RIF), a Bitcoin-powered smart contract platform will make MakerDAO’s ERC-20 DAI...Read More
The island nation of Bermuda is in the news today after it gave U.S-based cryptocurrency exchange, Bittrex, a Class F (“Full’’) Digital Assets Business Act license that will allow the platform to operate under the supervision of the Bermuda Monetary Authority (BMA). According to Bittrex Global CEO Tom Albright, Bittrex (Bermuda) will provide additional digital asset services...Read More
This year witnessed close competition between major assets raking in great profits. However, the actors who also contributed to the smooth transfers of most major cryptos were stablecoins, which have also witnessed exponential growth in the year 2020. The total volume of stablecoins in circulation has reached $20 billion, as USDC carves a higher share....Read More
U.S Securities and Exchange Commission (SEC) and the Office of the Comptroller of the Currency (OCC) issued a stablecoin guidance on Monday for U.S national banks and federal savings associations to hold stablecoin reserves. This would be the first detailed national guidance on how cryptocurrencies backed by fiat currencies, with the dollar in particular, should...Read More
Bank of Japan (BoJ), one of Japan’s central banks, has put the development of a central bank digital currency (CBDC) on top priority since July, according to a report in Japan Today. As per the report, members of BoJ hoped to see its digital currencies operate seamlessly during times of natural disasters and especially during...Read More
In a panel discussion with the Brooking Institution, Governor of the Bank of England, Andrew Bailey said that stablecoins, Bitcoin, and other cryptocurrencies are difficult and unsuitable for the public to use for traditional payments as he believed that the majority of the retail public still does not understand the usage of digital currencies. According...Read More
Circle, a peer-to-peer technology that enables payments in cryptocurrency and San Fransisco based exchange Coinbase announced that they have upgraded the USDC stablecoin protocol and its smart contract. Both Circle and Coinbase are members of the Centre Consortium that manages USDC. Together, the firms aimed to make the payment process easy for people who use...Read More
Every time Bitcoin moves up or notes a consolidation, there’s the question of a sell-off. Since the cryptocurrency markets are so volatile, you can’t blame traders or even investors for cashing in their investments at a significant profit. The current market is no different. According to data from Chainalysis Markets, inklings of a sell-off are...Read More
With every Bitcoin push comes the question of a push back, and when such a question arises all eyes point to the whales. Big movers of the cryptocurrency, operating on a host of exchanges, are even leveraging their trades, whales have a unique place in the Bitcoin market, and they have been the originators of...Read More
Central banks around the world are looking to explore the concept of virtual currency, Often referred to as central bank digital currencies, or CBDCs, this form of money poses its own set of challenges to overcome. As society gravitates toward more modern technologies, products, and services, the financial industry will need to follow suit. For...Read More
A Decentralized Stablecoin on Rootstock The stablecoin industry continues to grow and expand. Until now, most of these assets were issued on alternative blockchains such as Ethereum, Tron, OMNI, and EOS. The world’s leading cryptocurrency, Bitcoin, used to lack the necessary protocols to support the creation of such an asset by default. Thanks to RSK,...Read More
In brief: Stablecoin market capitalization has reached a whopping $8 Billion. This value stored in stablecoins has zapped away some market capitalization from Bitcoin (BTC). With central banks minting fiat, stablecoins are backed by currencies prone to inflation. An ideal future is where all trading is denominated in Satoshis. Recent news has highlighted that the...Read More
Bitcoin.com’s Exchange continues to grow and during the last few months, the platform has added support for a number of well known tokens. This week, the trading platform has added support for the Reserve stablecoin (RSV) and the project’s utility token (RSR). Bitcoin.com Exchange users will be able to trade RSV and RSR with trading...Read More
The Maker Foundation is being sued in a class-action lawsuit for $28 million over the March 12 event that caused over $2 million in liquidations. The lawsuit alleges that the team behind the Makerdao project did not explain the extreme risk of loss to investors. Also read: ETH Price Strains Defi Collateral Loans as ‘Black...Read More
