Tag: stablecoins
All news related to cryptocurrencies pegged to other assets, such as the US dollar.
Native Stablecoins Swell on Sui as Agora Adds AUSD Stablecoin to Network
Reading Time: 2 minutesAustin, Texas, 29th May 2024, Chainwire
China Dismantles Underground Bank Using USDT for Foreign Currency Exchanges
Reading Time: < 1 minutePolice in Sichuan province, Southeast China, have broken up an underground bank that utilized the USDT stablecoin for foreign currency exchanges, involving transactions totaling at least 13.8 billion yuan ($1.9 billion).
Real Users Account for Less Than 10% of Stablecoin Transaction Volume
Reading Time: < 1 minuteAccording to a new report by Visa and data platform Allium Labs, only a small portion, less than 10%, of stablecoin transactions are from legitimate or real people.
Tether’s Q1 Net Profit Hits $4.5B
Reading Time: < 1 minuteIn January-March, Tether, the issuer of the stablecoin USDT, reported a record net profit of $4.52 billion.
USDT Volume on Crypto Exchanges Hits Highest Level in a Year
Reading Time: < 1 minuteThe volume of USDT on exchanges in the second half of April reached $568 million, which is the highest level for the year.
Binance’s SAFU Accounts for 3% of UDSC’s Supply
Reading Time: < 1 minuteBinance has recently announced that it is converting its Secure Asset Fund for Users (SAFU) into Circle’s stablecoin USD Coin.
PayPal Allows Use of PYUSD for International Payments
Reading Time: < 1 minutePayPal announced on April 4 that it has launched its cross-border payments and transfers service, Xoom.
Ethena Labs Backs USDe with Bitcoin
Reading Time: < 1 minuteEthena Labs has announced that it has added Bitcoin as a backing asset for its USDe synthetic dollar. This decision was fueled by a surge in popularity of the world’s oldest digital asset among traders.
Tether Passes Independent Security Audit
Reading Time: < 1 minuteTether, the creator of the USDT stablecoin, has announced the successful completion of its System and Organization Controls 2 (SOC 2) Type I audit.
Conflux Network introduces AxHKD, Hong Kong Dollar-Backed Stablecoin
Reading Time: 3 minutesToronto, Canada, March 8th, 2024, Chainwire Conflux Network, the only regulatory compliant public blockchain in China, today announces its pivotal role in assisting the successful beta-testing of the Hong Kong […]
FDUSD Loses Peg to US Dollar
Reading Time: < 1 minuteThe value of First Digital USD (FDUSD), a stablecoin backed by Binance, dropped on March 5 sharply to $0.92.
UK to Pass New Stablecoin Legislation in 6 Months
Reading Time: < 1 minuteAccording to Bloomberg, UK government officials are determined to pass new regulations for stablecoins and crypto staking services within the next six months.
New Zealand Central Bank: Stablecoins Are Not Stable
Reading Time: < 1 minuteThe governor of the central bank of New Zealand, Adrian Orr, strongly criticized stablecoins, stating that they cannot be considered as a replacement for fiat money as they are not truly stable.
USDC Will Become a Native Token on Celo’s Network
Reading Time: < 1 minuteThe Celo Foundation has announced that Circle’s USD Coin (USDC) will be launching natively on the Celo blockchain.
Tether Issues 1 Billion USDT
Reading Time: < 1 minuteOn December 24, Tether generated an additional 1 billion USDT stablecoins on the Ethereum network.
Market Cap of Stablecoin Market Exceeds $134B
Reading Time: < 1 minuteAs of November, the market supply of stablecoins totaled $126 billion. By December 7, it had increased to $133.76 billion, per CoinGecko data.
Sui Joins DeFi Leaders, Topping $100M in Bridged USDC
Reading Time: 2 minutesGRAND CAYMAN, Cayman Islands, December 7th, 2023, Chainwire Only 7 months from the network’s launch, Sui is bridging more USDC liquidity than multiple native chains Sui, the groundbreaking Layer 1 […]
Circle Denies Ties with Justin Sun
Reading Time: < 1 minuteCircle, issuer of the USDC stablecoin, has rejected allegations that it engaged in illegal activities and had ties to Tron founder Justin Sun, the TRON Foundation, and HTX.
Binance Will Stop Supporting BUSD Next Month
Reading Time: < 1 minuteBinance has announced that it will no longer support any Binance USD (BUSD) products after December 15, due to Paxos halting the creation of new coins.
Circle to Expand USDC Presence in Japan
Reading Time: < 1 minuteCircle has formed a strategic alliance with SBI Holdings to expand its presence in Japan.
Paxos Will Issue USD-pegged Stablecoin in Singapore
Reading Time: < 1 minutePaxos has received preliminary approval from the Monetary Authority of Singapore (MAS) for a new entity, Paxos Digital Singapore Pte. Ltd., which plans to launch a stablecoin backed by the US dollar.
European Banking Authority Set to Discuss New Liquidity Requirements for Stablecoins
Reading Time: < 1 minuteThe European Banking Authority (EBA) has initiated a public consultation process regarding the capital and liquidity requirements for issuers of stablecoins and other digital tokens.
Circle is Exploring an IPO in 2024
Reading Time: < 1 minuteCircle, the issuer of USD Coin, may go public in early 2024.
USDT Represents 80% of Digital Currency Transactions in Brazil
Reading Time: < 1 minuteAccording to the Brazilian Tax Service, USDT is responsible for up to 80% of digital currency transactions in the country.
US is Losing Control Over Stablecoins: Circle CEO
Reading Time: < 1 minuteAccording to Circle’s CEO Jeremy Allaire, the US government is not taking decisive action towards legalizing stablecoins, causing companies to move to other countries.
Bitcoin 
Ethereum 
XRP 
Tether 
Solana 
BNB 
Dogecoin 
USDC 
Cardano 
Lido Staked Ether 