In a recent announcement, Japan’s three megabanks—MUFG, SMBC, and Mizuho—are launching a pilot program for a cross-border stablecoin transfer platform called “Project Pax.” The initiative aims to improve the speed and efficiency of international business settlements. The trial will be run in collaboration with blockchain firms Progmat, Datachain, and TOKI, with the potential for more…
In a recent interview, Ripple CEO Brad Garlinghouse has assured that its stablecoin launch is “very close.” The highly anticipated RLUSD stablecoin has always been poised to launch in 2024. Now, Garlinghouse has said that that very launch date is a mere weeks away. The year has been an up-and-down one for the company. Although…
Current stablecoin metrics show that USDE, the popular yield-bearing stablecoin, has slipped to fifth place among the top U.S. dollar-pegged tokens by market capitalization. Over the past three days, Ethena’s USDE supply has decreased by 130 million, pushing First Digital’s FDUSD into the fourth largest spot. Stablecoin Shakeup: USDE Slips to 5th, FDUSD Rises to…
Hong- Kong is one of Asia’s fastest-evolving regions for cryptocurrencies and related activities. The region is closely competing with the United Arab Emirates (UAE), which is also among the leading evolving crypto hubs globally. As per a recent announcement, IDA, a Hong- Kong-based cryptocurrency firm, has completed its seed funding round of $6 Million. The…
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue: Salvadoran President Nayib Bukele acknowledges that bitcoin rebranded the country, some bitcoin mining companies have stopped operating in Paraguay after the recent power fee hikes, and Argentines lead Latam in stablecoin adoption. Bukele…
The Solana network’s importance has only been reinforced as it has helped drive Circle’s USDC stablecoin past the $16 trillion mark in total volume. Indeed, the second-largest stablecoin by market cap has continued to prove its worth through its performance. Yet, it has also proven the word of the Solana blockchain. The milestone is also…
Based on the latest data, Ethena’s yield-generating stablecoin, USDE, has experienced a dramatic contraction in supply since July 4, 2024. Over the span of less than two months, its market capitalization has decreased by $770 million. Ethena’s USDE Supply Plummets as Competition Heats Up From Aug. 23 to Aug. 30, the stablecoin economy expanded from…
MakerDAO has upgraded DAI as USDS, adding a controversial freeze function that raises decentralization concerns. MKR token holders are gearing up for governance updates to strengthen the protocol. Maker, a leading platform in decentralized finance, has recently undergone a rebranding and is now known as Sky. Alongside this change, their widely-used stablecoin, previously known as…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 The decentralized finance (DeFi) project Sky (formerly called Maker) is facing backlash following the announcement of an upgraded stablecoin that some fear could compromise the project’s commitment to decentralization. The new stablecoin, USDS, has drawn criticism for including a so-called “freeze function,” a feature that would allow the token’s…
Sky’s USDS stablecoin has a freeze function, raising decentralization concerns. Rune Christensen, Sky’s co-founder, says the freeze function won’t be active at launch. Sky’s website is blocking VPNs further adding to the criticism following the rebrand. A day after the decentralized finance (DeFi) project Maker rebranded to Sky, the new protocol is under intense scrutiny…
In a landmark moment for the digital payment firm’s crypto venture, PayPal’s PYUSD stablecoin has officially reached a $1 billion market cap. Indeed, its surge in value is attributed by some to its expansion onto the Solana network. After starting off slow, its move saw a massive activity boost. The stablecoin debuted in 2023 as…
The decentralized finance (defi) lending platform Makerdao is embracing a new identity, rebranding as Sky, according to co-founder Rune Christensen. Along with the fresh name, the platform will introduce two new assets: a stablecoin dubbed USDS and a governance token named SKY, both slated for a mid-September launch. Sky Unveils USDS and SKY Tokens Amid…
Maker Protocol rebrands to Sky, renaming Dai stablecoin as Sky Dollar (USDS). MKR governance token upgraded to Sky (SKY) with a 1:24,000 conversion rate. Maker SubDAOs rebranded as Sky Stars, with Spark as the first live subDAO. In a significant move to make decentralized finance (DeFi) more accessible, the Maker Protocol has rebranded to Sky,…
Aave Labs proposes integrating BlackRock’s BUIDL with the GHO Stability Module. The update aims to enhance capital efficiency and expand real-world asset yield. BUIDL integration allows 1:1 USDC swaps, monthly dividends, and seamless transactions. In a move to enhance its stablecoin system, Aave Labs has introduced a new temperature check proposal to update the GHO…
OKX has introduced support for multiple USDC spot trading pairs They include ZK, LITH, ZERO, ZRO, XNO, ONDO and LQTY Crypto exchange OKX has announced spot trading support for multiple tokens against the stablecoin USDC. According to an announcement, OKX has added USDC trading pairs for ZK, LITH, ZERO, ZRO, XNO, ONDO and LQTY among…
Crypto Live News Author: Nidhi Kolhapur Nidhi Kolhapur Author Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain. Aug 26, 2024 16:18 Stablecoin market cap has hit a new all-time high at $168 billion after 11…
August 26, 2024 at 02:19 PM GST updated: August 26, 2024 at 02:13 PM 2 mins read Crypto Live News Wyoming plans to launch a dollar-backed stablecoin in Q1 2025, aiming for faster transactions and revenue generation. The Wyoming Stable Token will be fully backed by Treasury securities, with reserves invested to fund public schools….
🚀 Stay Ahead with AltcoinDaily.co! 🌐 The stablecoin market is seeing its total market capitalization soaring to a new all-time high of $168 billion. This marks the culmination of 11 consecutive months of growth, underscoring the increasing demand and adoption of stablecoins within the crypto ecosystem. Data from DeFiLlama highlights that this current market cap…
Wyoming plans to launch a dollar-based stablecoin, the Wyoming Stable Token, in Q1 2025. The digital asset aims to provide faster and cheaper transactions for individuals and businesses in the state. Governor Mark Gordon emphasizes the importance of adopting this “dollar-dependent” stablecoin to stabilize the market and bring debt onshore. A Faster and Cheaper Way…
Wyoming’s new stablecoin could challenge Bitcoin and Tether by offering a transparent, fully-backed digital currency. This initiative positions Wyoming as a leader in U.S. digital currency innovation, potentially setting the stage for a federal digitized dollar. Following a recent update by CNF on Wyoming legally approving CryptoFED DAO to operate as a legal entity in…
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue: El Salvador will offer bitcoin certification for public servants, Mercado Libre launches an in-house developed dollar-pegged stablecoin, and Paraguay keeps seizing illegal bitcoin mining operations. El Salvador to Educate 80,000 Public Servants on…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 Wyoming is pushing for the next phase of its crypto sector growth. This time around, the state is looking at venturing into consumer payments. Only a few weeks ago, the University of Wyoming announced plans to launch the Bitcoin Research Institute this August. Notably, this comes at a time when…
News Tether has assisted in recovering $108.8M in illicit USDT. Recent collaborations include freezing $225M with the DOJ and $873K with Israel. Tether has actively collaborated with law enforcement agencies globally since its inception in 2014 to combat illegal activities involving its stablecoin, USDT. The company has played a significant role in helping 145 law…
Ripple Labs’ United States dollar-pegged stablecoin RLUSD has not launched, but it already has a close rival: Japanese financial leader DMM Group. The firm has teamed up with Progmat Inc. to debut a new stablecoin. The firms plan to issue the new stablecoin under Japan’s digital asset regulations. This regulation was introduced in June 2023…
August 24, 2024 at 01:15 AM GST updated: August 24, 2024 at 01:01 AM 2 mins read News Ripple Swell 2024 set for Oct 15-16 in Miami, featuring top fintech leaders. Ripple to launch US dollar-pegged stablecoin, RLUSD, on XRPL and Ethereum. Ripple secures legal victory, faces $125M SEC fine, significantly less than $2B sought….
BRICS Founder Russia has unveiled plans to launch state-backed crypto exchanges with the Chinese Yuan and BRICS-pegged stablecoins to bypass US sanctions. The US sanctions have made The country find alternative payment methods to keep its economy afloat. The two cryptocurrency exchanges will operate in two different cities, one in Moscow and the other in…
Japan’s DMM Group, along with its subsidiary DMM Crypto, is partnering with blockchain developer Progmat to explore the launch of a stablecoin under existing local regulations, according to an Aug. 23 statement. Initially, the stablecoin will be integrated into DMM’s digital economy project, Seamoon Protocol. It will be designed to enhance stability and ultimately boost…
August 23, 2024 at 06:17 PM GST updated: August 23, 2024 at 01:11 PM 2 mins read News PayPal partners with Anchorage Digital to offer PYUSD holders interest rewards, boosting adoption amid regulatory challenges. PYUSD expands beyond Ethereum to Solana, enhancing transaction speed and utility for merchants worldwide. PayPal’s Xoom adds PYUSD for fee-free international…
Yellow Card, a leading stablecoin platform, has partnered with Fireblocks, a digital asset infrastructure provider, to improve cross-border transactions in Africa. By leveraging Fireblocks’ technology, Yellow Card aims to provide secure and efficient on-chain solutions for businesses and individuals. This includes using Fireblocks’ Wallets-as-a-Service (WaaS) to manage and protect customer assets. This partnership addresses the…
Anchorage Digital has launched its first stablecoin rewards program for Paypal USD (PYUSD) holders, offering institutions a secure way to earn rewards. Available through Anchorage Digital’s platform and the Porto self-custody wallet, the program emphasizes security by avoiding rehypothecation, staking, or lending. Anchorage Digital and Paypal Unveil Secure Rewards Program for PYUSD Holders Anchorage Digital…
Mercado Libre, the largest public company in Latam by market capitalization, has announced the release of its own dollar-pegged stablecoin, the meli dolar, for the Brazilian market. The development was completed in partnership with Ripio, an Argentine cryptocurrency exchange, and is issued by Meli Uruguay S.R.L., a part of the Mercado Libre group. Mercado Libre…
Tether, the major stablecoin issuer, has announced plans to launch a new stablecoin pegged to the United Arab Emirates Dirham (AED). This initiative, in collaboration with the UAE-based Phoenix Group, aims to provide a secure and efficient means of transacting in AED, catering to both businesses and individuals. The new stablecoin will be fully backed…
Anchorage Digital, a federally-chartered crypto bank, has added support for rewards for holders of the stablecoin PayPal USD (PYUSD). PYUSD holders can earn the rewards by custodying their tokens with Anchorage Digital, or through the Porto wallet. Anchorage Digital has introduced a stablecoin rewards program, allowing holders of the PayPal USD (PYUSD) stablecoin to earn…
Crypto Live News Author: Nidhi Kolhapur Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain. Aug 22, 2024 12:10 Wyoming Governor Mark Gordon has announced that in the first quarter of 2025, the state is all…
Tether has announced plans to launch a new stablecoin backed by the United Arab Emirates Dirham (AED). This program was launched in cooperation with the UAE’s Phoenix Group and Green Acorn Investments to enhance remittance services. The new stablecoin will be fully backed by UAE-based reserves so that the value will be equal to the…
August 21, 2024 at 04:50 PM GST updated: August 21, 2024 at 04:36 PM 2 mins read News Tether announces an exciting new venture to launch a new stablecoin in the crypto space. This stablecoin will be for the UAE’s currency Dirham (AED). The AED-pegged stablecoin will certainly help the efficient shift in global trades….
Tether, the issuer of biggest stable coin USDT is planning to launch a stablecoin tied to the UAE Dirham. This is a huge step for Tether as they expand their reach into the Middle East, a region that’s quickly embracing blockchain technology. Let’s understand what they are planning and how it affects the crypto community….
Abu Dhabi is advancing the regulation of fiat-referenced tokens (FRTs) with a new framework. Public feedback for the proposal is invited until October 3 after which, FSRA will finalize. Abu Dhabi is taking significant steps towards regulating fiat-referenced tokens (FRTs), a specific type of stablecoin. The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi…
Tether, the issuer of USDT, aims to develop a stablecoin solely backed by the currency of the United Emirates. According to the information, Tether officially launched its stablecoin USDT on the Aptos Network. On August 11, Tether and Xion Global joined hands to advance blockchain education in South Africa. The surged popularity of blockchain-based currencies…
Tether will launch a Dirham-pegged stablecoin in collaboration with Phoenix Group. New stablecoin will join USDT, EURT and other Tether-issued stablecoins. Tether plans to add a new stablecoin pegged to the United Arab Emirates’ Dirham to its suite of stablecoins, according to an announcement on Aug. 21. Per details of the planned launch, Tether will…
Tether, a top Bitcoin (BTC) holder focused on the real-world assets (RWA) tokenization space, has announced plans to develop a new stablecoin that is pegged in the United Arab Emirates Dirham (AED). According to the announcement, Tether has partnered with Phoenix Group PLC, and Acorn Investments Ltd to develop and launch the AED-pegged stablecoin in…
Blockchain security platform Scam Sniffer reported that a crypto trader lost $55.47 million in DAI stablecoin to a phishing attack. According to the firm, the trader lost their assets after mistakenly transferring ownership of their collateralized debt position (CDP) on DeFi Saver Proxy to a malicious wallet. DeFi Saver Proxy is a proxy contract deployed…
The post Tether and Aptos Partnership: Time For Lightning-Fast Crypto Transactions! appeared first on Coinpedia Fintech News Tether- the issuer of the biggest stable coin USDT, dropped a huge announcement that’s gonna make transactions dirt cheap and super efficient. Are you ready to learn how Tehter is going to do that, let’s dive in. Tether’s…
Grayscale, a leading digital asset manager, announced the launch of the MakerDAO investment fund on August 13, 2024. MakerDAO was founded in 2014 with an aim to create a decentralized stablecoin. Now, the DAO has DAI and MKR as significant tokens. There are 101,159 addresses that MKR tokens, leading to 100 addresses collectively holding 75.59%…