Stablecoins, central bank digital currencies and the new rails of digital cash.
The Canadian Securities Administrators (CSA) have once again extended the deadline for crypto trading platforms (CTPs) to comply with regulations concerning stablecoins, marking the second such extension. Initially introduced in February 2023, these regulations prohibit value-referenced crypto assets (VRCAs) that are not backed by a single fiat currency, such as algorithmic stablecoins, effective by the … Read more
Tether (USDT) is making significant strides in the stablecoin market during the current cycle, solidifying its status as the leading stablecoin. With an impressive total supply of 119.34 billion tokens—growing by an additional 1 billion in just the past month—Tether is expanding its influence across multiple blockchain ecosystems. The Current Landscape of Stablecoins While Tether … Read more
Crypto giants Robinhood and Revolut are exploring the possibility of launching their own stablecoins, according to unnamed sources cited in a Bloomberg report. While there’s no guarantee these digital assets will ever see the light of day, their potential entry into the market could significantly shake up the landscape. Stablecoins, which aim to maintain a constant value, have become … Read more
Audius, a decentralized music streaming platform, has taken a significant step forward in empowering artists. The platform now allows musicians to be paid directly for their content in stablecoin, a groundbreaking move that could reshape the music industry. How it Works: Direct Payments: Artists can set their own prices for their music and receive payments in USD Coin (USDC). … Read more
In a strategic move to solidify the role of stablecoins in the global financial ecosystem, French banking giant Societe Generale has formed a partnership with crypto platform Bitpanda. This collaboration aims to promote the adoption of EUR CoinVertible (EURCV), a euro-denominated stablecoin, through Societe Generale’s blockchain subsidiary, Societe Generale-FORGE. Jean-Mark Stenger, CEO of Societe Generale-FORGE, … Read more
Ripple is making headlines once again as it continues to develop its RLUSD stablecoin, having recently issued two significant batches of this digital asset. According to the “Ripple Stablecoin Tracker” account on X (formerly Twitter), the San Francisco-based company has minted a total of 970 RLUSD, marking the largest issuance since the trial began in … Read more
This week, Tether has made headlines by issuing an additional $1 billion in USDT on the Ethereum blockchain, bringing its total market capitalization to approximately $119 billion. Over the past year, Tether has minted an impressive $35 billion in USDT, further solidifying its dominance in the stablecoin market, particularly against Circle’s USDC, which holds less … Read more
The Open Network (TON) has recently marked a significant milestone, with its Tether (USDT) supply crossing the $1 billion mark for the first time. This surge reflects a broader increase in both the stablecoin’s availability and weekly active users, reaching a new peak of 5 million active users. This growth highlights the expanding ecosystem surrounding … Read more
PayPal has officially confirmed its preference for the Solana blockchain over Ethereum for launching its stablecoin, PYUSD. José Fernández da Ponte, head of PayPal’s Blockchain, Crypto, and Digital Currencies business unit, cited the Ethereum network’s shortcomings in facilitating effective payment solutions as a key reason for this decision. Solana: The Preferred Network During a recent … Read more
Tether, the company behind the world’s largest stablecoin, has announced a significant investment of $1.5 million in Sorted Wallet, a financial technology platform designed to improve accessibility to cryptocurrencies for underserved populations in Africa and South Asia. This initiative aims to foster financial inclusion, allowing individuals with limited access to advanced technology to engage in … Read more