Stablecoins, central bank digital currencies and the new rails of digital cash.
Tether, the issuer of the popular stablecoin USDT, is marking its 10th anniversary by reflecting on its journey and the impact of its flagship product. To commemorate this milestone, Tether has released a documentary showcasing how USDT has aided users in countries like Argentina and Brazil in navigating the challenges of currency inflation. In a … Read more
Tether is set to launch new technology tailored for the European market in response to evolving regulatory frameworks, particularly with the impending full implementation of MiCA (Markets in Crypto Assets) regulations. This strategic move comes as Coinbase announces its plan to delist non-compliant stablecoins, including Tether’s USDT, from the European Economic Area (EEA) by December … Read more
In a significant advancement for digital currencies, PayPal has completed its first business payment using its proprietary stablecoin, PYUSD. This landmark transaction, reported by Paige Smith for Bloomberg News, took place on September 23, 2024, and involved an invoice sent to Ernst & Young LLP. The payment was facilitated through SAP SE’s digital currency hub, … Read more
The cryptocurrency landscape is witnessing a period of cautious behavior, particularly with the stablecoin USDC trading just below its peg of $1. Despite this fluctuation, USDC’s daily trading volume remains robust, exceeding $8 billion, and its market capitalization has stabilized around $35.5 billion. These figures indicate a mixed but resilient activity within the broader market. … Read more
OKX, a leading cryptocurrency exchange, has officially announced the listing of a new U.S. dollar-backed stablecoin, PayPal USD (PYUSD). Starting October 3, 2024, users will be able to trade PYUSD against USDT on the platform, marking an exciting development for crypto enthusiasts and investors alike. What is PayPal USD (PYUSD)? PayPal USD is designed to … Read more
As of September, CoinGecko reports that the cryptocurrency ecosystem is significantly influenced by stablecoins, with Ethereum managing approximately $84.6 billion, representing 49.1% of the overall stablecoin supply. This solidifies Ethereum’s position as a central player in the decentralized finance (DeFi) space, holding nearly half of all stablecoins available in the market. TRON’s Growing Influence In … Read more
Tron has recently announced significant financial results for the third quarter, showcasing a remarkable 43% growth from the previous quarter and an impressive total revenue of $1.66 billion over the past year. This figure reflects a staggering 113% year-on-year increase, solidifying Tron’s position in the competitive blockchain landscape. Outperforming Competitors Data from Token Terminal reveals … Read more
MoonPay has officially added support for PayPal USD (PYUSD), the dollar-denominated stablecoin issued by Paxos Trust Company. Users can now purchase PYUSD using all major payment methods in all supported countries, excluding Canada. This integration enhances MoonPay’s offerings, allowing seamless transactions between traditional finance and the growing world of cryptocurrencies. Strategic Partnership for Enhanced Crypto … Read more
Circle, the issuer of the USDC stablecoin, has announced an ambitious expansion into Australia, partnering with venture capitalist Mark Carnegie’s MHC Digital Group. This collaboration marks a significant step in Circle’s strategy to enhance USDC distribution and explore institutional use cases in the Asia Pacific region. Enhancing USDC Distribution The partnership aims to provide wholesale … Read more
The stablecoin market is rapidly evolving, currently valued at over $155 billion with major players like Tether’s USDT and Circle’s USDC leading the charge. Recent reports suggest that Robinhood, a popular crypto-friendly stock trading platform, is exploring the launch of its own stablecoin as part of its broader cryptocurrency offerings. While no immediate plans have … Read more