Tagged: stablecoins

DeFi Wealth Management Platform YIELD App Reports Over 25,000 Users, Appr. $46M AUM

YIELD App, a decentralized finance (DeFi) wealth management platform, has revealed that they’ve seen “strong” growth during their first quarter of trading, with the total number of users reaching almost 26,000 as assets under management (AUM) surged to around $46 million “between week one and… Read More

Dan Burstein from Paxos Reveals how the Firm Is the “Most Trusted” Operator in Digital Asset Infrastructure Space

Dan Burstein, General Counsel at Paxos, claims in a blog post that the company is the “most trusted” operator in the digital asset infrastructure space. Burstein explains that trustworthiness is key to their business model and overall success at Paxos. They believe that by serving… Read More

Centre Consortium, Formed by Fintech Circle and Coinbase, Reports USDC Stablecoin Crosses $11B

The Centre Consortium, an entity established by global Fintech firm Circle and Coinbase, reports that the first quarter of this year has been one of “explosive growth” for Centre and for the USDC stablecoin, which is the world’s “most trusted” stablecoin (according to Centre Consortium)…. Read More

Waves Developer Advocate Vladimir Zhuravlev Explains why You Should Build DeFi Apps on Waves

  Vladimir Zhuravlev recently commented on why we should consider using the Waves protocol for building decentralized finance or DeFi apps. Zhuravlev, who’s a Waves developer advocate, has discussed in a blog post what the advantages might be of using the Waves protocol for creating… Read More

Blockchain or DLT based Stellar Network Is Reportedly Settling Transfers for $0.0001 / TX

Ada Vaughan, who focuses on Ecosystem and Marketing Strategy at the Stellar Development Foundation (SDF), notes that in an “increasingly cashless” and global economy, the separations between the different financial systems may lead to friction when you’re operating an international business. If you carry out… Read More

Over Half a Trillion Dollars has Been Transacted with USDC Stablecoin from Global Fintech Circle

Global Fintech firm Circle has revealed that the market capitalization for its stablecoin USDC has now exceeded $10 billion. More than 2 years after introducing the compliant and regulated “digital dollar” stablecoin, growth “continues to accelerate as shifting macroeconomic trends and exploding innovation in digital… Read More

Bitcoin Price Surged 1,000% in Past Year, Ethereum Up Over 1600% Since Mar 2020 Crash, Stablecoins Flourishing: Report

Nate Maddrey and the Coin Metrics Team note that on March 12, 2020, amid the growing panic over the rapid spread of the Coronavirus, the Bitcoin (BTC) price had crashed from around $8,000 to below $4,000 during just a 24-hour timeframe. Predictably, the rest of… Read More

Goldman Sachs Bitcoin Survey Reveals Most Investors are Bullish on Cryptos like BTC and Ethereum (ETH)

The majority of Goldman Sachs (NYSE:GS) clients are bullish on the future performance of decentralized cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). The giant Wall Street investment bank has shared the results of a client survey revealing that 61% of respondents believe their crypto-asset… Read More

Digital Collectibles: Rachel Mayer from Circle Pay Explains how Company’s Payments and Treasury Infrastructure Supports NFT Marketplaces

Rachel Mayer, VP at CirclePay, notes that as non-fungible tokens (NFTs) rise in popularity, the operators or managers of NFT marketplaces and storefronts will be needing to remove entry barriers for their users. Mayer points out that more consumers in and outside of the crypto… Read More

Global Fintech Circle CEO Jeremy Allaire Confirms there are Now Over $8 Billion in Stablecoin USDC in Circulation

Jeremy Allaire, Co-founder and CEO of Circle, a global Fintech company focused on supporting open Internet platforms, Bitcoin, and other crypto-assets, has confirmed that there’s $8 billion worth of USDC in circulation. 8 Billion USDC in circulation. Dec 1st – 3B, Jan 1st – 4B,… Read More

Tim Frost: CEO at YIELD App Reveals how Algorithmic Stablecoins Provide Censorship-Resistant Financial Services, Comments on other Fintech Developments

Tim Frost, CEO at YIELD App, which is a comprehensive Fintech app offering a wide range of DeFi services and new investment strategies, has shared his views and insights regarding the recent trading frenzy that was initiated by a group of armchair investors via Reddit… Read More

New York AG: Bitfinex to Stop Trading with New York Residents, Pay Penalty and Add Disclosure. Bitfinex Thanks AG’s Office for their Cooperation and Professionalism

Letitia James, Attorney General of New York, says that Bitfinex must stop allowing trading for New York investors. The AG says that Bitfinex’s activities are “illegal” in New York.  The agreement requires Bitfinex and Tether to discontinue any trading activity with New Yorkers while paying… Read More

Instant Digital Asset Exchange Service Kyber Network Reports All-Time High $858M Trading Volume for January 2021

The developers of the Kyber Network (KNC), which provides a tool that allows traders to exchange tokens instantly without having to use exchanges, have published their Ecosystem Report for January 2021. As confirmed in the update, Kyber 3.0, the “most ambitious and important change” to… Read More

DeFi Platform Yearn.Finance’s DAI Vault Suffers Major Exploit, Hack Leads to $11 Million in Value Drained from Platforms

On Thursday (February 4, 2021), an unknown entity reportedly stole $2.8 million from a shared digital or online vault via the investment platform Yearn.Finance. The hacker(s) exploited the vault using Aave, a decentralized finance (DeFi) platform that lets investors make flash loans. These DeFi solutions… Read More

Fintech Circle Reveals its APIs Now Support ACH Payments and Payouts, Enabling Easy Bank Transfers with USDC Stablecoin

Global Fintech firm Circle has revealed that its APIs now support ACH payments and payouts. Circle explains that ACH support allows clients to provide “seamless” bank transfers to and from USDC, which is a major stablecoin (or digital asset pegged to the US dollar). Circle… Read More

Coinbase Now Claims Over 43 Million Verified Users, has Managed to Grow its Digital Assets to $90 Billion: Report

Digital currency exchange Coinbase has reportedly managed to grow its total assets to $90 billion. Meanwhile, Coinbase Custody AUC represented over half or 50% of this total. San Francisco-based Coinbase now claims more than 43 million verified users. The exchange reportedly executed single trades surpassing… Read More

Crypto OTC Markets See Up to 3x as Much Volume as Regular Exchanges, “Anecdotal Evidence” Suggests, Fintech Circle Claims

Global Fintech firm Circle notes that in the cryptocurrency over-the-counter (OTC) market, professional market participants are able to carry out large trades in a private manner and with “minimal price slippage,” which is why institutional clients are now “flocking” towards crypto OTC trading desks. Although… Read More

Digital Wallets Holding Over 100 Bitcoin (BTC) has Grown Significantly Following COVID Outbreak: Report

The team at Kraken, a leading US-based digital asset exchange, notes that cryptocurrency prices have been soaring, and related innovation is “breaking ground,” while key opportunities are flourishing. According to Kraken, crypto adoption is “relentless.” The Kraken team writes that as they begin a new… Read More

Fintech Advancement in the Time of COVID-19

As with most years, I started 2020 with a sense of optimism, looking forward to another productive year at work and doing the Appetite for Disruption podcast with my co-host Troy Paredes. In fact, he and I wrote an article discussing 2019 that focused more… Read More

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

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