Stablecoin
BlackRock Leads $47M Strategic Funding Round for Securitize
Securitize, a leading digital securities platform, has secured $47 million in strategic funding led by investment giant BlackRock. Other investors in the funding round include blockchain developers Aptos Labs Paxos and stablecoin issuer Circle. Securitize said in a statement that the proceeds from the funding round will be used for product development, global expansion, and […]
Senate Bill Aims to Regulate Stablecoins and Foster Financial Innovation
The Lummis-Gillibrand Payment Stablecoin Act is a proposed law introduced by Senator Kirsten Gillibrand (Democrat) and Senator Cynthia Lummis (Republican). Its goal is to create clear rules for stablecoins – cryptocurrencies tied to traditional assets like the U.S. dollar. The Act aims to promote financial stability and prevent illegal activities involving stablecoins. It seeks to establish a […]
ZA Bank in Hong Kong Explores Stablecoin Partnerships
ZA Bank, a digital bank in Hong Kong, is in talks with potential stablecoin issuers about opening accounts to hold the cash reserves backing these cryptocurrency tokens. This development was reported by Bloomberg, citing Devon Sin, the General Manager of Business Banking and lending at ZA Bank. Sin evidenced that the company handles five to […]
Tether Refuses to Confirm or Deny Dropping USDT on Tron Network
Tether, the issuer of the popular stablecoin USDT, has refrained from confirming or denying whether it plans to discontinue support for the Tron network, following a similar move by its competitor Circle. On Tuesday, Feb. 20, Circle announced that it would halt the minting of its stablecoin, USD Coin (USDC), on the Tron blockchain. Tether’s […]
Solana DEX Jupiter Surpasses Uniswap in Stablecoin Surge & Airdrop Excitement
Solana DEX Jupiter volumes topped $480 million in the last 24 hours, with much of it led by traders swapping stablecoins and flipping a new memecoin, Wen. Trading volumes on the Solana-based DEX Jupiter toppled the charts at $480 million in the last 24 hours amid a frenzy for a new memecoin airdrop and heightened […]
Do Kwon’s Terraform Labs Filed Chapter 11 Bankruptcy Protection
Do Kwon’s Terraform Labs, the company behind the now-defunct stablecoin TerraUSD (UST), has filed for bankruptcy protection in the United States. This is even as the company stays as the out-of-circulation stablecoin – TerraUSD (UST) issuer. On January 21, the firm filed a Chapter 11 bankruptcy petition in the United States Bankruptcy Court for the […]
Tether Challenges UN Findings, Upholds USDT Integrity
The Tether crypto firm, in the wake of a damning UN report accusing it of facilitating illegal activities in Southeast Asia through its USDT stablecoin, expressed disappointment at what they feel is an unfair targeting of the instrument. It argues that the global financial community has continually overlooked and undervalued its contribution to developing economies […]
TUSD Strays from $1 Peg as Binance Shifts Focus to FDUSD
The trueUSD (TUSD) stablecoin, which is supposed to be pegged to the US dollar, has dropped below $1 and is currently trading at $0.988, according to CoinDesk Indices data. The de-pegging by TUSD marks the second time in two months as it fell to a low of $0.9957 in June 2023. Moreover, Reasons behind the […]
Paxos Receives Approval From NY Regulator To Join Solana Blockchain
Paxos, the leading stablecoin issuer, has received regulatory approval from the New York Department of Financial Services (DFS) to launch its products on the Solana blockchain. Paxos said the approval by the financial regulator marks a significant milestone for the evolution and innovation of the firm’s enterprise and consumer-focused operations, according to the details shared […]