“It’s obvious that nation-states can’t handle all our identities for all our lives.” Upstart crypto company Saga wants to issue a new global currency on the blockchain. Just don’t call it a stablecoin. Saga’s SGA digital currency relies on an international reserve asset called Special Drawing Rights (SDR), which was introduced by the International Monetary…
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Libra could face even more stringent requirements as U.S. lawmakers introduce a bill seeking to classify stablecoins as securities. A couple of United States lawmakers are looking to classify stablecoins as securities. With Libra considering adopting fiat-pegged stablecoins rather than a single token supported by a basket of national currencies, the proposed crypto project might…
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The Fed chairman’s recent letter illuminates how monetary policy bigwigs view crypto and if it might greenlight a USD stablecoin. Where just a handful of years ago, the idea would have been immediately dismissed or even met with ridicule, the United States Federal Reserve is now taking the concept of an official dollar stablecoin seriously.…
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Blockchain researchers at online brokerage eToro have argued that Facebook should look to support third-party stablecoins, not Libra. Blockchain researchers at online brokerage eToro have argued that Facebook should look to support third-party stablecoins, not Libra. According to a Nov. 28 report from Finextra, eToro’s blockchain research unit eToroX Labs believes that while Facebook’s crypto…
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Major cryptocurrency exchange Binance announced that it will launch a rewards card facilitating crypto payments on major travel websites with startup TravelByBit. Major cryptocurrency exchange Binance announced in a blog post on Nov. 28 that it partnered with crypto travel startup TravelByBit to launch a rewards card that facilitates crypto payments on major travel websites.…
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Stablecoins have the potential to temper the systemic threats posed by USD domination of global foreign currency reserves, analysts have argued in a new piece for the WEF. Stablecoins have the potential to temper the systemic threats posed by the United States dollar’s domination of global foreign currency reserves, according to an opinion piece published…
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The crypto businessman sings praises for “uncensorable money.” In an exclusive interview with Cointelegraph, Blockstream CEO Adam Back stated that for him, nothing is above Bitcoin, not even stablecoins or other coins issued by central banks. Adam Back invented the hashcash proof of work system, and was one of the first people to work with…
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Crypto-friendly travel service Travala will now let its customers reserve any hotel that available through bookings giant Booking.com. Travala, a service that allows its users to pay for hotel stays with cryptocurrency, will now let its customers reserve any hotel that is bookable through Booking.com. Travala announced in a press release on Nov. 25 that…
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The number of Ether locked in decentralized finance applications reached an all-time high of 2.7 million. The number of Ether (ETH) locked in decentralized finance (DeFi) applications reached an all-time high of 2.7 million, according to DeFi monitoring resource DeFiPulse, and has been steadily growing since the end of June. Of the 2.7 million ETH…
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CEO of blockchain firm R3, David Rutter, has ridiculed the way Facebook introduced its yet-to-be-released Libra stablecoin. CEO of blockchain firm R3 has ridiculed the way Facebook introduced its yet-to-be-released Libra stablecoin. Skepticism surrounding Facebook’s forthcoming Libra stablecoin continues growing as David Rutter, the CEO of enterprise software firm R3, said that the announcement of…
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