Coinbase backed Yellow Card, a leading African crypto platform, has secured a crypto asset service provider (CASP) license from the Financial Sector Conduct Authority (FSCA) in South Africa. The license allows Yellow Card, which is also licensed in Botswana, to expand its operations and cater to the growing demand for stablecoin-based services. This latest milestone…
Switzerland’s Financial Market Supervisory Authority (FINMA) has raised concerns about increasing money laundering risks in the crypto sector. The warning, detailed in FINMA’s 2024 Risk Monitor report, highlights the growing misuse of digital assets like cryptocurrencies and stablecoins for illicit activities. The report indicated that stablecoins are increasingly used in illegal transactions, such as sanctions…
Spark Liquidity Layer automates multi-chain USDS and sUSDS liquidity management, boosting DeFi efficiency and scalability. Cross-chain swaps with no slippage and stable borrowing rates redefine multi-chain stablecoin functionality. The Spark team has made a huge step forward in stablecoin growth with the release of the Spark Liquidity Layer. For USDS and sUSDS stablecoins, this novel…
Tether invests in Quantoz Payments to launch MiCA-compliant EURQ and USDQ e-money tokens, enhancing regulated digital payments in Europe. EURQ and USDQ adhere to MiCA standards, offering secure transactions and bridging traditional finance with blockchain innovations. Tether has announced an investment in Quantoz Payments to support the launch of two E-Money Tokens (EMTs): EURQ and…
Mercado Bitcoin (MB), the largest digital asset platform in Latin America, has introduced the MBRL stablecoin on the TRON blockchain. This stablecoin connects the stability of Brazil’s currency with the flexibility of blockchain technology. The MBRL project leverages TRON’s fast and scalable network, ensuring smooth transactions and 24/7 liquidity, even during weekends and holidays. It…
Quantoz launches MiCA-compliant stablecoins USDQ and EURQ, pegged to USD and EUR. Backed by Tether, Kraken, and Fabric Ventures for strong market entry. Dutch fintech company Quantoz Payments has launched two MiCA-compliant stablecoins, USDQ and EURQ, with backing from Tether, Kraken, and Fabric Ventures. The tokens pegged to the U.S. dollar and euro, aim to…
November 18, 2024 at 02:30 AM GST updated: November 18, 2024 at 02:59 AM 2 mins read News Ripple burned 53M RLUSD across XRP Ledger and Ethereum in preparation for the stablecoin’s launch. RLUSD’s backing includes U.S. Treasury bills and dollar deposits. Ripple’s RLUSD awaits NYDFS approval, promising enhanced market transparency. Ripple, a popular blockchain…
Ethena Labs integrates sUSDe into Aave, enabling billions in stablecoin borrowing and 30% APY exposure. Ethena proposes Solana and staking derivatives as USDe-backed assets to boost scalability and collateral diversity. Ethena Labs has reported a key milestone with the seamless integration of sUSDe into Aave. By means of this integration, sUSDe can act as collateral…
Mountain Protocol, a yield-bearing stablecoin project, has partnered with the P2P exchange El Dorado to bring yield savings products to Latin American customers. Both organizations have teamed up to offer up to 4.5% APY for El Dorado Earn customers. The initiative receives USDT and automatically converts it to USDM, allowing users to benefit from the…
After the recent integration with Layerzero cross-protocol, sending PYUSD from the Ether chain to the Solana chain became possible. This developmental news came into the spotlight after a Medium post by Layerzero in which it noted that PYUSD has started leveraging its OmniChain Fungible Token which will enable its users to transfer their assets from…
Polygon Labs integrates AUSD as the stablecoin for AggLayer to simplify cross-chain operations, reduce fragmentation, and enhance liquidity across the ecosystem. As cross-chain use grows, demand for AUSD and the POL token increases, with POL seeing a 45% rise over the past week and substantial trading volume. Backed by VanEck and State Street, AUSD provides…
It has been over ten months, and through 2024, tether (USDT), the leading stablecoin by market value, has expanded its supply by 34.27%. Tether’s USDT Expands by 34% in 2024 Over the past year, USDT’s supply climbed by 34.27%, rising from $91.73 billion to $123.17 billion. Tether, launched nine years and eight months ago with…
Trump declared 47th US president, JPMorgan CEO claims World War III has begun, Global Dollar Network launches, and more in this Week in Review. Week in Review Donald Trump has been declared the 47th U.S. president. JPMorgan CEO Jamie Dimon warns that World War III may have started, citing unprecedented global risks. In fintech, a…
Ripple Labs has once again sparked discussion in the XRP community. This time, the discussion does not revolve around its pending case with the U.S. Securities and Exchange Commission (SEC) but on its stablecoin. Having halted the RLUSD testing since the last week of October, Ripple has resumed again. Increased RLUSD Stablecoin Transfer And Liquidity…
November 9, 2024 at 04:35 PM GST updated: November 9, 2024 at 04:00 PM 2 mins read News Flare and Red Date’s trial enables anonymous, KYC-compliant stablecoin access for Mainland Chinese visitors. RealDID integration in Hong Kong offers secure, document-free stablecoin access aligned with local regulations. New trials tap into Hong Kong’s $10B visitor market,…
The stablecoin market has surged past $176 billion, reaching levels last seen in 2022. With Tether (USDT) and USD Coin (USDC) leading the way, this rise shows how stablecoins are quickly gaining traction in the crypto space. Here’s what’s behind the growth and what it means for the future. Tether’s Hold on the Market The…
Tether funds a major crude oil transaction using USDT, marking a new step into global trade finance. Tether’s dirham-pegged stablecoin supports UAE’s digital finance, aligning with regulatory frameworks. Tether’s recent entry into the crude oil market reflects its desire to change traditional finance since Tether Trade Finance, its investment arm, has sponsored a novel deal…
November 8, 2024 at 04:35 PM GST updated: November 8, 2024 at 01:17 PM 2 mins read News TRON-Peg USD Coin offers seamless USDC transfers between TRON and Ethereum, enabling cross-chain transactions. Transparent reserve assets and ChainSecurity audits boost user confidence in TRON-Peg USD Coin’s reliability. TRON’s cross-chain functionality empowers global users, positioning TRON-Peg USD…
Tether will transfer a portion of its USDT cold wallets from other blockchains to USDT on Ethereum via a chain swap. The overall supply of USDT will remain unchanged. Tether to Allow Traders to Utilize USDT Across Blockchains A chain swap is a procedure used to transfer cryptocurrency between blockchains. Through this procedure, crypto users…
Crypto.com aims to expand its crypto offerings to include stablecoin and an exchange-traded fund (ETF) product in 2025. The Singapore-based exchange also revealed a plan to give customers access to traditional financial products like banking and stock trading. This move comes as Crypto.com has positioned itself as one of the top trading platforms of 2024,…
November 6, 2024 at 04:55 AM GST updated: November 6, 2024 at 03:29 AM 2 mins read News KuCoin lists bitSmiley (SMILE), a BTC-native stablecoin, enhancing DeFi capabilities on the Bitcoin blockchain. SMILE is set to trade with USDT on KuCoin, aiming to bring Bitcoin liquidity to multi-chain DeFi. bitSmiley combines stablecoin, lending, and derivatives…
The Global Dollar is issued out of Singapore by Paxos and is “substantially compliant” with the MAS Tether’s USDT stablecoin accounts for more than 75% of the market Kraken’s co-founder said there is a “lack of competition” in the stablecoin market A group of cryptocurrency and financial technology companies have introduced a joint stablecoin, the…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 On November 5, prominent crypto and financial institutions, including Robinhood, Galaxy Digital, Kraken, and Paxos, joined together to form a consortium aimed at supporting a new stablecoin pegged to the U.S. dollar. This stablecoin, dubbed USDG, was launched by blockchain infrastructure firm Paxos on November 1 and is currently…
The partnership between The Open Network (TON) and Tether has reached new heights as the USDT stablecoin experienced a massive surge in just a few months since the start of their collaboration. A remarkable feat that saw a massive increase in the USDT on TON hitting over $1 billion in only six months, an indicator…
Robinhood, Kraken, Paxos, and other major financial firms have joined forces to introduce the Global Dollar Network, a regulated platform to boost stablecoin adoption globally. Led by Paxos, the network supports USDG, a stablecoin pegged to the US dollar and initially available on the Ethereum blockchain. Issued from Singapore, USDG complies with local regulatory frameworks…
The issuer of USDC has been working constantly to expand its adoption and usage worldwide, it is second most used after USDT. According to a regional media outlet, the Chief Executive Officer of Circle, Jeremy Allaire sees Hong Kong as a major market for USDC. Additionally, it reported that the company is planning to expand…
Tether has been a prominent player in the wider cryptocurrency space and when writing it holds the title of highest traded cryptocurrency with a trading volume of $54.40 billion. In an X post dated November 04, 2024, the chief executive officer of Tether, Paolo Ardoino denied the rumors of launching a blockchain by Tether. He…
November 4, 2024 at 12:35 PM GST updated: November 4, 2024 at 10:56 AM 2 mins read Crypto Live News Circle eyes expansion in HK and is awaiting new stablecoin regulations to guide next business steps. Circle partners with HKT and is planning blockchain-based loyalty solutions for HK merchants. Upcoming HK regulations may reshape stablecoin…
After the mainstream introduction & adoption of cryptocurrencies, hundreds of new job posts exploded in the market even though some of the positions are comparatively paid as much by the traditional sector for the same post. In a recent development, BitGo, a leading custody and other crypto-based service provider, has announced the onboarding of Ben…
Paxos launched the USD-backed stablecoin USDG in Singapore, partnering with DBS Bank for reserve management and custody. USDG is initially on Ethereum, with future plans for expansion, aiming to boost stablecoin adoption globally under regulatory compliance. Paxos, a regulated blockchain infrastructure firm, has made major progress in the digital finance sector by introducing a new…
Thai police arrested seven individuals, including six officers, for allegedly staging a fake arrest and extorting 165,000 USDT from a Chinese-Vanuatu citizen. Fraudulent Legal Threats Thai police recently arrested six police officers and one civilian after a Chinese-Vanuatu citizen filed a complaint accusing them of staging a fake arrest and extorting 165,000 USDT. The Chinese…
As per the latest announcement, Tether will issue a stablecoin pegged to the UAE Dirham (AED) on the TON blockchain. The move aims to enhance financial transactions and provide a stable digital currency option within the region. The TON blockchain, known for its scalability and efficiency, is expected to support the seamless integration and operation…
It’s been a busy week for Tether, as the company announced that it had authorized the minting of another 1 billion USDT tokens, pushing the total number of minted tokens to $33 billion in the last year. According to blockchain data, the additional tokens were minted on the Tron network and immediately sent to the…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 The United States Department of Treasury has cast a fresh spotlight on digital assets in its latest report developed for the Treasury Borrowing Advisory Committee. The report explored the evolving digital asset landscape and its ripple effects across traditional finance. The executive department highlighted that these crypto assets create…
Este artículo también está disponible en español. Although Bitcoin (BTC) is yet to breach its USD all-time high (ATH) value, the flagship cryptocurrency has made a new ATH against the euro (EUR) and some other fiat currencies. Bitcoin Makes Fresh ATH Against Euro Bitcoin surpassed €68,000 ($73,561) on October 29, establishing a new ATH against…
Paxos CEO Charles Cascarilla has urged U.S. presidential candidates to prioritize stablecoin and blockchain technology to strengthen the dollar’s global influence. Cascarilla believes the following U.S. administration will play an important role in finance. He pointed to stablecoins as the essential conduit to streamline the financial system. This push is designed to increase economic participation…
October 30, 2024 at 02:35 PM GST updated: October 30, 2024 at 11:54 AM 2 mins read News $sUSD on Solana offers 4% yield, allowing users to earn passive income securely backed by Treasury Bills. Solayer Labs’ $sUSD stablecoin integrates OpenEden, enhancing security with Moody’s-rated tokenized assets. $sUSD serves as collateral in Solana’s ecosystem, supporting…
IOTA could soon be used as collateral for stablecoin as a different network is reported to be on the verge of staging a “friendly fork” on the decentralized distributed ledger. A report explains that this initiative could greatly increase the total value locked by IOTA and make transactions safer within the decentralized finance environment. Co-founder…
2024 has become a developmental year that has supported an unbeatable growth of cryptocurrencies and their related products. Among all, stablecoins have performed the best, followed by memecoins and Altcoins. In a recent development, USDC’s issuer Circle has announced that it has joined hands with Hong Kong Telecom (HKT) to increase customer loyalty with cutting-edge…
Early on Oct. 26, the U.S. dollar value of Essence Finance’s decentralized stablecoin, CHI, plunged by more than 90% after rumors emerged that more than $20 million of collateral had been removed. According to Geckoterminal data, the value of the stablecoin, which normally trades at par with the U.S. dollar, dropped by nearly 98% to…
Tokenized treasuries are gaining ground but will complement, not fully replace, stablecoins due to liquidity and usability. BlackRock’s BUIDL tokenized treasury fund showcases rapid adoption of RWA tokenization in institutional finance. JPMorgan has highlighted the increasing competition between tokenized treasuries and stablecoins, with funds such as BlackRock’s BUIDL threatening the latter’s market dominance. Now one…
Essence Finance, a project in the Scroll ecosystem, is under scrutiny after its stablecoin, CHI, plunged over 92% in 24 hours, hitting $0.077. Allegedly, more than $20 million in collateral has vanished, raising suspicions of a potential rug pull. The project’s last communication was on September 11, leaving investors questioning its reliability. Although previously audited…
Tether, the largest stablecoin by market cap, is under investigation by federal prosecutors in Manhattan for potential money laundering and sanction violations. Tether denounced the report as unverified speculation. However, the crypto market data indicates that rumors regarding the probe against the stablecoin have heavily impacted the entire crypto market. Here is what you should…
A U.S. Securities and Exchange Commission (SEC) commissioner has urged the U.S. to adopt a more proactive approach to crypto regulation, pointing to the leadership of Indo-Pacific nations like Japan, Singapore, and Hong Kong. He emphasized that these countries have crafted clear frameworks that foster innovation while protecting investors, in contrast to the U.S., where…
October 25, 2024 at 03:45 AM GST updated: October 24, 2024 at 02:12 PM 2 mins read News Stablecoins now facilitate over 60% of high-value NFT transactions, with USDT leading institutional adoption through its established liquidity pools and exchange partnerships. The integration of regulated stablecoins (particularly USDC) has reduced transaction volatility by 85%, establishing a…
U.S. Senator Bill Hagerty has warned of growing efforts by BRICS nations to bypass the U.S. dollar’s dominance but argued this could ultimately strengthen the status of the dollar as the world’s reserve currency. He emphasized the need for a regulatory framework to boost demand for U.S. treasuries and stablecoins, while his stablecoin legislation aims…
Stripe acquired Bridge for $1.1 billion, its largest acquisition to date. Bridge’s tools support stablecoin adoption in global finance. Stripe has acquired stablecoin platform Bridge in a landmark deal valued at $1.1 billion. TechCrunch founder Michael Arrington confirmed the news on X, making it Stripe’s largest acquisition ever. The deal also stands as the biggest…
The following is a guest post by Anil Oncu, CEO of Bitpace. Since its inception in 2020, the European Union’s Markets in Crypto-Assets (MiCA) regulation has shed a new light on the European crypto industry. While many have considered the continent a less important player, the fledgling regulation has introduced a new narrative—one where Europe…
Yellow Card raised $33M in Series C funding to expand stablecoin solutions across 20 African countries. Yellow Card aims to enhance API products, enabling easier cross-border payments for businesses using stablecoins. Yellow Card, a pioneering fintech company in Africa, has secured $33 million in Series C financing. Blockchain Capital led this fundraising, with other prominent…
Yellow Card, a leading African stablecoin platform, closed a $33 million Series C funding round led by Blockchain Capital. The funding signifies a milestone for Yellow Card and the African fintech industry, highlighting the potential of stablecoins on the continent. This raise brings Yellow Card’s total equity financing to $85 million. Digital Assets Gain Ground…