ADA, the governance token of the Cardano ecosystem, has benefited from the renewed sentiment in the crypto market. Coingecko data shows that the token rose by over 58% in the monthly time frame while simultaneously showing green in other time slots. This is caused by several internal and external developments in the Cardano ecosystem and the crypto industry as a...
The post This Is How Circle’s USDC Will Outcast Tether’s USDT appeared first on Coinpedia Fintech News In the last 24 hrs the star cryptocurrency, Bitcoin has plunged from its crucial support level of $23K. Also it happens to be the second day that Bitcoin is flashing negative marking. However, the global crypto market cap is still holding on to its $1 trillion...
With their newly-announced stablecoin experiment doomed to fail, Russia and Iran will soon learn Bitcoin is the solution that they want.This is an opinion editorial by Q Ghaemi, a stocks and bitcoin analyst and author of the Qweekly Update newsletter.Earlier this month,...
Japan intends to allow local investors to trade foreign stablecoins such as USD Coin (USDC) or Tether (USDT) no later than the end of the second quarter of 2023, The Financial Services Agency (FSA) reported.
Stablecoins and Japanese Ban
However, the FSA is unlikely to allow all foreign stablecoins, and the...
The massive potential and ability of blockchain, as well as stablecoins, have resulted in the growing awareness of the technology, and its continuous adoption attracts big firms and entities to utilize it. The latest notable adopter of blockchain technology is now the National Australia Bank (NAB). According to a...
National Australia Bank has developed AUDN, a stablecoin that enables business customers to settle transactions in Australian dollars. The National Australia Bank (NAB) will be the second of the "Big 4" Australian banks to launch an Australian dollar-pegged stablecoin on the Ethereum network. According to an Australian Financial Review report from January 18, the AUDN […] The post...
The continuous growth of stablecoins and cryptocurrency worldwide in terms of recognition and usage has caught the attention of the Bank of America. The second largest bank in the country, the bank’s analysts believe that crypto can revolutionize the financial systems being used globally, according to...
To better enable international transactions, the governments of Russia and Iran are reportedly considering working together to develop a new stablecoin. Iran is working with the Russian government to create a "token of the Persian Gulf region" that may be used as a form of payment in international trade, as reported by the Russian news portal Vedomosti. According to Alexander Brazhnikov, director of...
A growing number of human rights organizations from around the world are turning to crypto and blockchain technology as a remedy to challenges in underdeveloped or conflict-torn countries caused by a lack of financial infrastructure or insufficient identity verification. Through a new blockchain-based humanitarian program, the Office of the UN High Commissioner for Refugees (UNHCR) will send...
San Luis, a province of Argentina, has approved a bill allowing it to issue a blockchain-based, dollar-pegged stablecoin. A law permitting the creation of its own stablecoin tied to the dollar was enacted by the Argentine province of San Luis. The "Activo Digital San Luis de Ahorro" token, which will be made available to all […] The post...
2022 has been the year of mass exit from stablecoins as more than $14.3 billion has been redeemed from these tokens since March. Total Stablecoin Supply Is Down 8% From March 2022 Peak According to the latest weekly report from Glassnode, the stables observed expansion throughout 2020 and 2021. The relevant indicator here is the "stablecoin supply...
Reading Time: 2 minutes WAVES and USDN tokens have continued their decline following an ‘investment warning’ from Korean exchanges last week...
The post Tron’s Stablecoin USDD Records a 6-Month Low - Is USTC 2.0 Underway? appeared first on Coinpedia Fintech News Tron’s decentralized algorithmic stablecoin USDD and Waves’s Neutrino USDN are de-pegging heavily. Algorithmic stablecoins have been a major subject of worry ever since the Terra ecosystem failed to defend the UST peg and caused a major market crash, halving many assets. Along with...
USDN Depegs Updates: As the global digital asset market continues to decline after the...
The post Tron's Stablecoin USDD De-Pegs, Hits June Lows appeared first on Coinpedia Fintech News On Monday, the algorithmic decentralized USD (USDD) stablecoin on the Tron network dropped to $0.9695, its lowest level since June. A few hours ago, Curve Finance had almost $4 million...
BlockFi is a cryptocurrency-focused wealth generation platform that offered a suite of products, such as the BlockFi credit card, a BlockFi custodial wallet, and a cryptocurrency interest account. The company initially launched with a cryptocurrency interest account product, offering around 4.5% APY on BTC and up to 9.5% on stablecoins. They put this offering on ice in February 2022....
Reading Time: 2 minutes Coinbase has offered users fee-free USDT-USDC conversions Coinbase co-founded USDC in 2018 with...
Coinbase is incentivizing its users to convert their Tether (USDT) holdings for USD Coin (USDC), according to a Dec. 8 blog post. Switch to a trusted...
Tether, a leading provider of blockchain-based financial services, has launched an offshore Chinese Yuan-backed stablecoin. The new stablecoin, CNH₮, combines two of the world’s largest economies and makes it easier for users to transact with the Chinese Yuan (CNH) in a secure, digital form. With the launch of CNH₮, Tether continues to...
Reflexity Research cofounder Will Clemente tweeted on Dec. 5 that stablecoins were one of the few crypto use cases that have found product market fit despite the current market condition. Stablecoin aggregate volume reaches ATH Citing Glassnode data, Clemente said stablecoin's growth was evident in several areas. This included the aggregate volume reaching an all-time high despite the crypto winter. The Glassnode chart...
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