The supply of stablecoins on the Ethereum chain has dropped by more than 30% from the peak of $100 billion to $66 billion since 2022. The study data shows BUSD and USDC as the two stablecoins which caused the overall market value to fall from $139 billion to $129.5 billion. Tron Stablecoin Supply up 57%…
Read more
Source: Adobe / Skórzewiak Iron Bank Euro (IBEUR), a low-cap alternative stablecoin, has found itself in the midst of a crisis with no immediate route back to its stablecoin peg after experiencing a sharp 60% drop in value on Monday. The stablecoin, with a $3.7 million issuance, tumbled from a price of $0.97 (€0.89) to…
Read more
Expanding the global reach of euro-based stablecoins, Circle has debuted its EURC token on the Solana blockchain, offering a fully reserved, euro-backed digital asset.
Circle Expands its Stablecoin Portfolio With EURC Launch on Solana, Boosting Euro Integration in Digital Finance
Circle, a leading stablecoin issuer, has announced the launch of its euro-backed digital currency,…
Read more
BIS building in Basel, Switzerland. Source: Adobe/doganmesut The Basel Committee for Banking Supervision (BCBS) wants to tighten rules to classify stablecoins as less risky assets than Bitcoin (BTC) and other unbacked cryptocurrencies. In a recent consultative paper, the international standard setter proposed 11 rules to guide banks’ exposure to crypto assets highlighting areas such as…
Read more
Source: Adobe Stock Deutsche Bank’s DWS Group, along with Dutch market maker Flow Traders Ltd. and crypto fund manager Galaxy Digital Holdings Ltd., is set to establish a company named AllUnity with the aim of issuing a euro-denominated stablecoin. The initiative will be headquartered in Frankfurt and led by Alexander Höptner, former CEO of crypto…
Read more
Tether, a leading stablecoin company in the crypto industry, has announced a significant new initiative aimed at strengthening the security of the crypto asset ecosystem. The company announced this weekend that its recent move to voluntarily freeze tether-holding wallets linked to the Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) List marks a…
Read more
Tether, the leading stablecoin by market capitalization, has seen its supply increase by 5.5% in the last month, achieving a significant market valuation of $90 billion. Since 2015, Tether’s Market Cap Has Swelled by 35,912,812% Since the dawn of 2023, tether (USDT) has experienced substantial growth. Starting the year with a market value of $66.3…
Read more
Citizens of the Swiss city of Lugano can now settle their tax bills and other community fees with bitcoin and the stablecoin tether. By adding crypto to payment options, Lugano joins three other Swiss cities and cantons which already accept crypto payments.
Accelerating the Use of Bitcoin
The Swiss city of Lugano announced…
Read more
Beginning in mid-July 2023, the stablecoin from Avara (previously known as Aave), a decentralized finance firm, consistently traded below its target $1 peg, reaching a low of $0.917 on October 24. Nonetheless, in recent weeks, the Liquidity Committee of the project undertook efforts to rectify this gap, setting a goal to elevate the stablecoin’s value…
Read more
USDC stablecoin issuer Circle neither “finances Hamas” nor does it bank Tron blockchain founder Justin Sun, the fintech firm’s chief strategy officer has asserted. Although Circle had past business dealings with Sun, this ended in February 2023 when it terminated his accounts and those of affiliated companies. Circle Subject to ‘Multiple Regulatory Regimes’ Circle, the…
Read more
