While the stablecoin economy is worth roughly $153 billion today, euro-backed stablecoin issuance has increased 1,683% from $31.9 million worth of euro-based tokens on January 3, 2020, to today’s $569 million. Since November 2021, the number of euro stablecoins swelled by 85.34%, but from January 2022 to today, euro stablecoin numbers dropped 14.17% during the…
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Dante Disparte hinted the U.S. could take a leading role in stablecoin regulation in an effort to “avoid trans-Atlantic or global misalignment.” Dante Disparte, Circle’s chief strategy officer and head of global policy who has previously testified at congressional hearings, has called on United States lawmakers to balance the risks with developing a regulatory path…
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As of June 30, about 75.6% of Circle’s reserves were held in U.S. Treasuries and 24.4% were held in cash at regulated financial institutions. Circle Internet Financial has released a full breakdown of its USD Coin (USDC) holdings for the first time — a move designed to offer transparency and instill greater trust ain the…
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In terms of daily turnover, the British pound (GBP) is the fourth most traded fiat currency in the world, according to the Bank for International Settlements. Fintech firm blackfridge has launched a new stablecoin that is fully backed by the British pound (GBP), potentially opening the door to wider adoption of digital assets in the…
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Bitso, a Mexican-based, Latam operating cryptocurrency exchange, announced it is launching a remittance service in Colombia. The company will now allow its customers in Colombia to send and receive remittances using dollar-pegged stablecoins on the platform. The exchange launched a similar service in Mexico last year in partnership with Circle.
Bitso Expand Remittances Program…
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“With USDC, our business model is minimizing risk, not taking and managing risk,” wrote Jeremy Fox, Circle’s chief technology officer. The cryptocurrency market has experienced a turbulent period as of late, with several firms filing for bankruptcy or shutting down. Voyager Digital announced its bankruptcy on Wednesday, becoming the second crypto lender to default following Three…
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The USDT-to-USDC market cap ratio fell to its lowest ever in July 2022. The growth of Circle’s native stablecoin USD Coin (USDC) in the last two months compared to its $66-billion rival giant Tether (USDT) is nothing short of spectacular. USDT, USDC market cap ratio hits the lowest on record Notably, USDC’s market capitalization has…
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Circle, the US-based payments company that issues the stablecoin USD coin (USDC), has denied that it is facing any sort of difficulty in maintaining the coin’s US dollar peg. Meanwhile, the supply of tether (USDT) coins on one of the most used stablecoin liquidity pools remains elevated…. Read More: Circle Denies USDC Trouble Rumors, Tether…
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Several major crypto companies have commenced a new wave of recruitment amid sour market conditions. Major crypto exchange Kraken is leading the crypto recruitment charge with 650 new positions added over the past week in the US and the UK. The positions are all full-time and remote, according to a recent study by blockchain jobs…
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Circle Internet Financial has revealed a usd coin custody partnership with the American bank holding company New York Community Bancorp (NYCB). Under the agreement, NYCB’s subsidiary, New York Community Bank, will become a custodian for the company’s stablecoin reserves. Circle Partners With New York Community Bancorp On Tuesday, Circle announced that it is collaborating with…
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