Tagged: stablecoin

BUSD: Binance Partners with BitPay on Stablecoin Payments

Crypto exchange Binance has partnered with BitPay, a provider of blockchain payment services, to “drive adoption of Binance’s stablecoin, BUSD. According to a note from Binance, BitPay will enable merchants to accept BUSD around the world. Support for BUSD in the BitPay wallet goes live… Read More

Decentralized Prediction Market Gnosis Launches Markets Specifically for COVID-19 related Events

Gnosis, a decentralized prediction market solution that spun out from Ethereum (ETH) development studio ConsenSys back in 2017, has launched a separate decentralized prediction market specifically for the Coronavirus (COVID-19) pandemic. Gnosis confirmed that it has provided $50,000 to help fund a non-profit Corona Information… Read More

Total Market Cap for Ethereum-based Stablecoins Increased Over 95% Year-to-Date: Report

The combined market capitalization of Ethereum (ETH)-powered stablecoins (digital assets pegged to major fiat currencies or other real-world assets) has surged by over 95% year-to-date. The total market cap of all ETH-based stablecoins stands at around $6.25 billion. Research conducted by The Block reveals that… Read More

Decentralized Finance Platform dForce Secures $1.5 Million in Capital from Multicoin Capital, Huobi, China Merchants Bank International

dForce, a Chinese decentralized finance (DeFi) solution provider, has secured $1.5 million in capital. The DeFi platform’s latest round was led by Multicoin Capital. Huobi Capital and China Merchants Bank International (CMBI), the investment division of one of the largest financial institutions in China, also… Read More

Switzerland: Libra Association Seeks Payment Service License from FINMA

The Libra Association, Facebook’s push to create a global non-sovereign digital currency, is applying for a Payment System License from the Financial Markets Supervisory Authority (FINMA) in Switzerland. In addition to applying for the FINMA license and updating the white paper, the Libra Foundation reports… Read More

Paradigm Is Biggest Winner of MakerDAO Lending System’s MKR Governance Tokens, to Cover $4.5 Million of Undercollaterized Debt

San Francisco-based Paradigm, a digital asset investment firm, is reportedly the biggest winner of several MKR governance token auctions which were meant to cover about $4.5 million of undercollateralized debt. The auctions, which took place between March 19 and March 28, 2020, managed to raise… Read More

Sygnum Bank Launches DCHF Token, a Stablecoin Tied to the Swiss Franc

Sygnum Bank, a licensed digital asset bank, has launched a stablecoin labeled Sygnum Digital CHF (DCHF) – a crypto tied to the Swiss Franc. This is a first stablecoin launched by a regulated Swiss bank. Sygnum also holds a capital markets services (CMS) license in… Read More

Major Stablecoin USDC’s Market Cap has Increased by Over $200 Million Since March 1, 2020

The circulating supply for Circle and Coinbase’s stablecoin, called USD Coin (USDC), has increased considerably since the beginning of this month. USDC’s market cap has jumped by about $200 million since March 1, 2020. The US dollar-pegged USDC stablecoin’s market cap presently stands at over… Read More

Leading DeFi Platform MakerDAO Partners Digital Payment Processor Simplex to Develop Fiat On-Ramp for Maker’s Dai Stablecoin

MakerDAO, the leading decentralized finance (DeFi) platform, has teamed up with Simplex, a digital payment processor, in order to develop a fiat on-ramp for Maker’s Dai (DAI), which is the first decentralized stablecoin (digital currencies pegged one-to-one with major fiat currencies or other real-world assets)…. Read More

Coinbase Commerce Adds Support for Major Stablecoin Dai, Merchants May Accept Dai Payments

Coinbase Commerce has added major stablecoin DAI as a new payment option for its merchant client base. As mentioned in a press release from Coinbase’s management, merchants using the Coinbase Commerce platform will be able to take payments made in the DAI stablecoin. Vendors can… Read More

Mastercard CEO Ajay Banga Explains Why Company Withdrew from Facebook-led Stablecoin and Payments Project Libra

Ajay Banga, CEO at payments giant Mastercard, recently talked about why his company decided to leave the controversial Facebook-led Libra global payments and stablecoin project. Banga claims his firm doesn’t quite understand Libra’s business model. He told the Financial Times: “When you don’t understand how… Read More

Tether Issues Statement on Consolidation of Class Action Lawsuits

Tether, the stablecoin that has endured a good share of challenges, has issued a statement on pending lawsuits targeting the company. According to a release,  the plaintiffs in three class action proceedings against Tether filed a letter with the U.S. District Court for the Southern… Read More

Kraken Lists Circle’s Stablecoin, USDC

US cryptocurrency exchange Kraken will enable trading of Circle’s USD-proxy cryptographic stablecoin, USDC, starting January 8th. Kraken says it will enable deposits and withdrawals of USDC at 14:30 UTC on January 8. “The first trades will start shortly after funding is enabled as sell orders… Read More

BitPay Rolls Out Stablecoin Payments for Merchants & Consumers

Global blockchain payments provider BitPay announced on Tuesday it the rollout of stablecoin payments for merchants and consumers. BitPay reported that it now supports payment acceptance and settlement in any of three popular volatility-free stablecoins, Circle’s USD Coin (USDC), the Gemini Dollar (GUSD) and Paxos… Read More

Report: Head of Russia’s Central Bank Joins Chorus of Regulators Critical of Private Currencies Like Facebook’s Libra

Elvira Nabiullina, governor at the Bank of Russia since 2013, told the Russian parliament this week that she supports Fintech innovations but opposes private currencies like Facebook’s Libra because they pose a threat to financial stability. She also said she and the bank are monitoring… Read More

Five European Countries Uniting to Stall Libra, Facebook’s Proposed Global Cryptocurrency

Deputy finance ministers from France, Germany, Italy, Spain and the Netherlands have been meeting behind closed doors throughout October to devise a strategy to prevent Facebook from launching its proposed Libra cryptocurrency network among its 2.5 billion users next year. According to four sources to Politico EU,… Read More

Tommaso Mancini-Griffoli from IMF Pitches Synthetic Central Bank Digital Currency

In a presentation entitled “The Future of Money: The Impact of Digitization, including “social coins” on Currency, Payments and Markets, Tommaso Mancini-Griffoli, Deputy Division Chief in the Monetary and Capital Markets Department from the IMF pitched the concept of a “synthetic CBDC” (Central Bank Digital… Read More

Chinese Internet Giant Tencent Says Facebook’s Libra Stablecoin Might Pose A Threat to Other Digital Payments Platforms

Shenzhen-based Tencent, an internet service portal that provides mobile, telecom, and online advertising services, has stated that the proposed launch of the Facebook-led Libra project could pose a threat to existing digital payment platforms. Tencent’s management noted in a recently published blockchain whitepaper that the… Read More

Russian Ruble Will Reportedly Be First Fiat-Crypto Trading Option on Binance, New Bitcoin Cash Pegged Token Listed

Malta-based digital asset exchange Binance is planning to launch its first fiat-to-cryptocurrency trading pairs. While attending the Open Innovations 2019 conference in Moscow this week, Binance CEO Changpeng “CZ” Zhao said that fiat-to-crypto options would be introduced soon, starting with the Russian ruble. Zhao stated:… Read More

Survey: Almost 75% of German Residents Say They Won’t Use Facebook’s Libra Stablecoin

Nearly three-quarters, or 75%, of German consumers said they would not use Facebook’s controversial stablecoin Libra, according to a recent survey Out of 2000 Germans, aged 16 and over, that were questioned, only 27% said they might consider using Libra to conduct local or international… Read More

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