Tagged: stablecoins

HM Treasury Kicks Off Consultation on Cryptoassets and Stablecoins

At the end of last week, HM Treasury published a consultation on cryptoassets (digital assets) and stablecoins. An earlier consultation on cryptoasset promotions concluded on 26 October with results expected soon. The consultation is said to be the first stage in the government’s process concerning… Read More

Attorney Who Specializes in Crypto Says OCC Statement on Stablecoins is a “Game Changer”

The Office of the Comptroller of the Currency (OCC) issued an interpretive letter this week regarding the ability of national banks and federal savings associations to utilize stablecoins. The OCC concludes that a national bank or federal savings association may validate, store, and record payments… Read More

Coinbase Developer Explains How USDC Stablecoin, a Multi Billion Dollar Ethereum ERC-20 Token, Was Upgraded

Pete Kim, who has helped build the USDC stablecoin version 2.0 and the Coinbase Wallet, has published an update on upgrading one of the world’s largest digital assets, USDC, which is an (Ethereum) ERC-20 compliant token. Kim explains that USD Coin (USDC) is a stablecoin… Read More

First Ever Ethereum based, Japanse Yen backed Stablecoin Introduced by Tokyo’s GMO Internet Inc.

Tokyo-based GMO Internet Inc., an Internet conglomerate, has reportedly been granted approval from the New York Department of Financial Services (NYDFS) to form a limited purpose trust company, GMO-Z.com Trust Company, Inc. Through this initiative, the company will issue the very first regulated Japanese Yen-pegged… Read More

President’s Working Group on Financial Markets Issues Statement on Stablecoins: Responsible innovation must exist in line with existing law

While stating that stablecoins may serve to improve efficiencies in payments and transfers, the President’s Working Group on Financial Markets (PWG) says responsible innovation must exist in line with existing law. Treasury Deputy Secretary Justin Muzinich issued the following statement: “The statement reflects a commitment… Read More

DeFi Tokens Take it Relatively Slow as Bitcoin Surges to $23,800, Prominent Investor Says Ethereum May Eventually Surpass BTC Market Cap: Report

Decentralized finance (DeFi) tokens took it “relatively slow” this past week when compared to Bitcoin (BTC) while crypto and blockchain industry developments strengthened Ethereum’s (ETH) support, according to a report from OKCoin. The digital asset exchange notes that DeFi tokens are still lagging behind BTC… Read More

Bitcoin (BTC) Mining Hardware Market Is Heating Up and Secondary Market Prices for Machines May Rise: Report

The Bitcoin (BTC) mining machine market is heating up, according to the team at HASHR8 Inc, a cryptocurrency mining and media firm that aims to support the “decentralized growth” of hashrate (or computing power used to secure digital currency networks) while enhancing the security of… Read More

Decentralized Credit System OScore will be Combined with New Inclusive Pool to Give Lenders Insight into Users’ Creditworthiness

High-performance blockchain platform Ontology has introduced an “Inclusive Pool” – which is the platform’s first (decentralized finance) DeFi product based on OScore. Since recently launching OScore, the “decentralized” credit system implemented on Ontology’s DeID, the team at Ontology has been working towards adding a new… Read More

Chainlink (LINK) Reveals its Platform has Enabled 77 Different Smart Contract Use Cases

Chainlink (LINK), a “decentralized” Oracle network that securely connects various blockchain-based smart contracts with data from “the real world,” recently revealed that its platform has enabled 77 different smart contract use cases. LINK tokens are currently trading for around $13.70 and they have a market… Read More

Reef Finance Integrates with Blockchain Platform Kava to Offer “World-Class” DeFi Services

Reef Finance has reportedly integrated with Kava to provide “world-class” decentralized finance (DeFi) services to platform users. As noted in the announcement: “Kava [has] partnered with Reef Finance, the leading DeFi project in the Polkadot ecosystem. The cooperation will bring Kava’s collateralized loans, USDX stablecoins,… Read More

Global Fintech Circle Partners Bolivarian Republic of Venezuela and Airtm to Provide Aid to Nation’s Residents with USDC Stablecoin

Global Fintech firm Circle has teamed up with the Bolivarian Republic of Venezuela and Airtm in order to provide aid to Venezuelan residents using the USDC stablecoin. According to a release, the initiative has been introduced with government support and notably marks “a global first”… Read More

Mark Smargon: CEO at Israeli Fintech Fuse.io Wants to Offer Non-Custodial, Open-Source Payments Services with WeChat level User Experience

We recently caught up with Mark Smargon, CEO of Fuse.io, a Fintech company that aims to connect everyday payments to the blockchain without compromising on user experience. Fuse.io is focused on leveraging the latest decentralized finance (DeFi) infrastructure to offer a unique platform to businesses… Read More

“Virtual assets and so-called stablecoins” G20 Supports FATF Regulatory Efforts Targeting Money Laundering and Illicit Financing

Last week, the G20 Finance Ministers and Central Bank Governors welcomed the efforts of the FATF to identify the money laundering and terrorist financing risks that have arisen during the COVID-19 pandemic.  The G20 said that the COVID health crisis is being exploited by criminals… Read More

Open Financial Services Platform Kava Labs Announces Major Updates including Harvest.io, a Cross-Chain Money Market Solution

Kava Labs, which is focused on the ongoing development of Kava (KAVA), a blockchain-based platform that aims to offer a foundation for various open financial services, has announced the launch of the Kava 4 Gateway.  Brian Kerr, CEO at Kava Labs, confirmed that the Kava… Read More

Meltem Demirors: CSO at CoinShares Says Cryptocurrency Is “Inevitable” and We Might See Many Bad Policies from Lawmakers

  We recently spoke to Meltem Demirors, the Chief Strategy Officer at CoinShares, a digital asset treasury management firm that manages over $1 billion in assets. Demirors talked about how financial markets reacted after US President Donald Trump tested positive for COVID-19. She also discussed… Read More

Ethereum (ETH) Transaction Fees Keep Falling After Major DeFi related Ecosystem Growth, Bitcoin (BTC) TX Fees Surge: Report

Bitcoin (BTC), the flagship cryptocurrency, has again surged past the $11,000 mark as US stimulus talks begin and institutions start to allocate more funds to the leading digital asset. As noted by the OKCoin team, Bitcoin has managed to break out this past week, after… Read More

Scott Stuart from Kava Labs Explains how Venture Backed Firm Is Creating Decentralized Financial Services

Scott Stuart, Product Manager at Kava Labs Inc, a venture-backed firm focused on payments and blockchain technologies, notes that at Kava, their goals include developing a user-friendly decentralized financial services platform. Stuart claims that a lot of the core infrastructure and “decentralized” community governance for… Read More

Ray Youssef: CEO at P2P Bitcoin (BTC) Exchange Paxful Says Platform Aims to Onboard 2 Million Users by End of 2020

We recently connected with Ray Youssef, the CEO at Paxful, a leading peer to peer Bitcoin exchange, which reported a 274% increase in new registrations in Turkey, during the past year, on its platform. There was also an average of $65,000+ in monthly trade volume… Read More

DeFi Protocol Aave Inroduces Centrifuge, A Platform for Launching Real-World Assets

The developers of Aave, an open-source and non-custodial decentralized finance (DeFi) protocol for earning interest on digital asset deposits while also being able to borrow assets, have announced that they’re introducing Centrifuge – which aims to bring real-world asset markets to the Aave protocol. Isa… Read More

Binance Now Hosting $128 Million worth of Stablecoins on its Liquid Swap Platform

Binance, the world’s largest digital asset exchange, has confirmed that it’s been a month since it launched Binance Liquid Swap. The exchange also revealed that the platform is now hosting over $128 million worth of stablecoins, as of October 3, 2020. The Binance team further… Read More

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