stablecoin – Page 2

Cryptoquant: Stablecoin Liquidity Surges to Record Highs as Ripple Introduces RLUSD

October 8, 2024

Stablecoin liquidity reached unprecedented levels in September 2024, boosting overall cryptocurrency market activity. Meanwhile, Ripple made a notable entrance into the stablecoin space with its newly launched RLUSD, expanding its influence in the financial landscape. Stablecoin Boom Fuels Crypto Liquidity, Ripple’s RLUSD Market Cap Rises According to a recent report from Cryptoquant, stablecoin liquidity soared…
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Paypal Completes First Corporate Transaction Using PYUSD Stablecoin

October 6, 2024

Paypal has made a significant step in corporate payments by completing its first transaction using its stablecoin Paypal USD (PYUSD). This milestone highlights the role digital currencies can play in streamlining cross-border transactions, with Paypal partnering with Ernst & Young LLP. Paypal Completes First PYUSD Stablecoin Business Transaction Paypal Holdings Inc. has completed its first…
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Sky Reports Over 1 Billion USDS Minted Since August Rebrand

October 5, 2024

It’s been approximately 38 days since Makerdao, the decentralized finance (defi) project, rebranded as Sky and launched both the USDS stablecoin and the SKY token. During this time, more than a billion USDS coins have been minted, and 530 million DAI have been converted to the new standard. Makerdao Sees 530 Million DAI Upgraded Since…
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BBVA to Launch Visa-Backed Euro-Pegged Stablecoin Next Year

October 5, 2024

BBVA, one of Spain’s largest financial institutions, has announced plans to launch its stablecoin product by 2025. The organization is currently in the sandbox stages and will be developed in partnership with credit giant Visa as part of one of the first projects using its services to launch stablecoins. BBVA Plans to Launch Stablecoin in…
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Circle to Expand USDC Stablecoin to Australia and APAC Region Through Strategic Partnership

October 2, 2024

Mark Carnegie’s MHC Digital Group is partnering with Circle Internet Financial to expand the distribution of the stablecoin USD Coin (USDC) to institutional investors in Australia and the broader Asia-Pacific (APAC) region. This strategic collaboration aims to help superannuation funds and high-net-worth individuals avoid significant bank fees by leveraging USDC, which has a market capitalization…
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Japan to Review Crypto Regulations, Potentially Easing Tax Burden

October 1, 2024

Japan is reportedly set to review its cryptocurrency regulations, potentially reducing taxes on digital assets. The Financial Services Agency (FSA) plans to assess whether current crypto regulations under the payments act provide sufficient investor protection. The review may lead to reclassifying crypto as financial instruments under Japan’s investment law, which could enhance safeguards and bring…
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Canada Sets New Deadline for Crypto Platforms to Comply With Stablecoin Regulations

September 30, 2024

The Canadian Securities Administrators (CSA) have announced an updated regulatory framework for stablecoins, also known as value-referenced crypto assets (VRCAs), with a new compliance deadline set for December 31, 2024. The updated regulations emphasize transparency and investor protection, requiring stablecoin issuers to maintain appropriate reserves with qualified custodians and to publicly disclose information about their…
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Tether Aids DOJ in Seizing $6M in Assets Tied to Crypto Scams

September 30, 2024

Tether, a stablecoin issuer, said it has collaborated with the U.S. Department of Justice to seize digital assets worth $6 million stolen from victims of crypto confidence schemes. Tether has assisted law enforcement in various jurisdictions, blocking over two billion dollars in USDT and recovering millions for victims. According to the stablecoin issuer, it has…
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Tether Helps Dutch and US Authorities Seize $7.8M in Crypto

September 27, 2024

Tether, the world’s largest stablecoin issuer, reportedly played a crucial role in a joint operation led by Dutch and U.S. law enforcement agencies to dismantle two cryptocurrency exchanges suspected of money laundering. The operation resulted in the seizure of €7 million ($7.8M) in crypto and the freezing of illicit wallets. Tether Works With Law Enforcement…
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Blackrock Joins Race to Issue New Stablecoin

September 27, 2024

Blackrock has announced its backing of a new stablecoin, UStb, launched by Ethena Labs. Supported by Blackrock’s BUIDL fund, UStb is designed to provide a reliable alternative in the stablecoin market, leveraging investments in U.S. dollars, short-term Treasury bills, and repurchase agreements. Ethena Labs has partnered with Securitize to facilitate the launch, aiming to enhance…
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