Stablecoins, central bank digital currencies and the new rails of digital cash.
Hyperliquid is planning to launch its own native stablecoin, USDH, a move that has already caused its HYPE token to jump 3.4% in a single day. The proposal is currently a concept and must first be approved by validators through an on-chain vote before it can go live. The platform has confirmed that the rollout … Read more
Ethena Labs is taking a two-part approach to strengthen its ecosystem, raising $530 million in new funding for its StablecoinX project while simultaneously starting a $310 million buyback of its native ENA token. The new PIPE (private investment in public equity) financing brings StablecoinX’s total funding to nearly $895 million. The company expects this capital … Read more
Tether, the company that issues the world’s largest stablecoin, USDT, is expanding its business by investing directly in the gold supply chain. With its gold reserves already at a record high of $8.7 billion, the company is in talks to invest in gold mining, refining, and royalty companies. Tether has already committed tens of millions … Read more
Maple Finance, an asset management firm, has seen its yield-bearing stablecoin, SyrupUSDC, surpass a $1 billion market capitalization. This milestone, reached on Wednesday, September 3, reflects a significant increase in demand for institutional-grade yield within the decentralized finance (DeFi) space. According to Maple’s CEO, Sidney Powell, the surge in SyrupUSDC’s supply signals that institutional investors … Read more
Fireblocks, a key player in crypto infrastructure, has introduced the Fireblocks Network for Payments. This new platform is designed to make it easier for financial and crypto companies to move stablecoins between each other and develop stablecoin-based products. The network has already attracted over 40 participants, including major players like Stripe‘s recent acquisition, Bridge, and … Read more
The Wyoming Stable Token Commission (WYST) has announced the creation of the Frontier Stable Token (FRNT), the first stablecoin to be issued by a U.S. state. The token will be built on the Hedera network. Developed under the 2023 Wyoming Stable Token Act, FRNT is fully backed by U.S. dollars and short-term Treasury securities, with … Read more
Ripple has officially expanded its institutional-grade stablecoin, RLUSD, into Africa through new collaborations with prominent fintech and crypto platforms. The company has partnered with Chipper Cash, a major fintech company, as well as the crypto exchange VALR and payment provider Yellow Card, to increase access to RLUSD. This strategic move is particularly significant for the … Read more
The Bank of England has updated its stablecoin regulations, allowing systemically important stablecoin issuers to hold a portion of their reserves in interest-earning assets. This change, announced by Deputy Governor Sarah Breeden, is expected to benefit large issuers by enabling them to generate revenue from their reserves. The new regulations also integrate stablecoins into the … Read more
The article discusses a central question in the stablecoin market: can new projects compete with the dominance of established players like Tether (USDT) and Circle (USDC)?USDT and USDC have grown exponentially since 2020, with their combined supply exceeding $260 billion. Their strong position is due to their long track records, deep liquidity, and widespread integration … Read more
Ethena’s synthetic stablecoin, USDe, has surpassed rivals like DAI to become the third-largest stablecoin by market capitalization, behind only USDT and USDC. Its circulating supply has surged to over $12.4 billion, a 42% increase in just over a month. Approaching the ‘Fee Switch’ This rapid growth brings Ethena closer to activating its long-awaited “fee switch,” … Read more