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
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
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
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
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
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
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
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), 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 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 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
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
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
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
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
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, 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
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
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, 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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