Stablecoin

ZA Bank in Hong Kong Explores Stablecoin Partnerships
Crypto

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 […]

Apr. 7, 2024
Tether Refuses to Confirm or Deny Dropping USDT on Tron Network
Tether

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 […]

Feb. 23, 2024
Solana DEX Jupiter Surpasses Uniswap in Stablecoin Surge & Airdrop Excitement
Blockchain

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 […]

Jan. 29, 2024
Do Kwon’s Terraform Labs Filed Chapter 11 Bankruptcy Protection
Crypto

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 […]

Jan. 22, 2024
Tether Challenges UN Findings, Upholds USDT Integrity
Tether

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 […]

Jan. 18, 2024
TUSD Strays from $1 Peg as Binance Shifts Focus to FDUSD
Cardano

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 […]

Jan. 17, 2024
Paxos Receives Approval From NY Regulator To Join Solana Blockchain
Blockchain

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 […]

Dec. 23, 2023
Tether Has Frozen $435M USDT For US Secret Service, DOJ, And FBI
Crypto

Tether Has Frozen $435M USDT For US Secret Service, DOJ, And FBI

Tether, the company behind the USDT stablecoin, has frozen 326 wallets containing $435 million worth of USDT, the company highlighted in a letter on December 15. The assets were frozen to assist law enforcement authorities, including the Federal Bureau of Investigation (FBI), the US Department of Justice (DOJ), and the Secret Service. The letter, written […]

Dec. 18, 2023
Ripple’s XRPL Hosts Phase 2 Of Palau Stablecoin Project
Blockchain

Ripple’s XRPL Hosts Phase 2 Of Palau Stablecoin Project

The Ministry of Finance of Palau has officially launched the second phase of the Palau Stablecoin (PSC) project with Ripple’s CBDC platform collaboration. On December 15, Jay Hunter Anson, a cybersecurity consultant in Palau and adviser to the Ministry of Finance, confirmed the program’s second phase initiation in a post on X (formerly Twitter). The […]

Dec. 18, 2023