Stablecoins, central bank digital currencies and the new rails of digital cash.
In a significant move signaling its expanding investment strategy, Tether, the issuer of the USDT stablecoin, has acquired a substantial 9.8% stake in Adecoagro, a leading agricultural firm in Latin America. The investment, valued at $100 million, marks Tether’s first foray into the agricultural sector. Adecoagro, with a valuation exceeding $1 billion, operates extensively across … Read more
PayPal’s stablecoin, PYUSD, has achieved a significant milestone, surpassing a $1 billion market capitalization last week, according to CoinMarketCap data. Issued in partnership with fintech firm Paxos, PYUSD has seen its market presence expand significantly, more than doubling its supply since June. Despite a general cooling of the crypto markets over the summer, PYUSD’s user … Read more
The stablecoin market has reached a new all-time high with a market capitalization of $168 billion, marking 11 consecutive months of growth. This milestone surpasses the previous peak of $167 billion recorded in March 2022. The data, provided by DeFiLlama, excludes algorithmic stablecoins, which are maintained through algorithmic mechanisms rather than being pegged to fiat … Read more
PayPal has teamed up with Anchorage Digital to introduce a new rewards program for clients holding PayPal’s USD stablecoin (PYUSD). This initiative is targeted at clients using Anchorage’s services or the Porto institutional self-custody wallet to manage their PYUSD holdings. According to Anchorage Digital, the stablecoin remains fully accessible and segregated in participants’ on-chain accounts, … Read more
In a recent statement, Tether Chief Executive Officer Paolo Ardoini reaffirmed the company’s steadfast commitment to preventing the misuse of cryptocurrency in criminal activities. Ardoini emphasized Tether’s proactive stance in collaborating with global law enforcement agencies to combat fraud and secure digital assets. Tether, known for its stablecoin USDT, has intensified its efforts to ensure … Read more
In a strategic move to enhance its role in the global cryptocurrency market, Russia is set to launch new crypto exchanges and explore stablecoin options tied to the Chinese yuan and BRICS currency basket. This initiative aims to bolster Russia’s financial tools and diversify its economic connections amidst a turbulent global economic environment. New Crypto … Read more
Mercado Pago, a leading digital payment platform in Brazil, has announced the launch of Meli Dollar, a new stablecoin designed to offer Brazilian users a stable and efficient financial tool. This initiative marks a significant step in Mercado Libre’s ongoing efforts to integrate cryptocurrency into its financial services. Introduction of Meli Dollar Meli Dollar, the … Read more
Tether, a leading stablecoin issuer, has announced its plans to launch a new stablecoin pegged to the United Arab Emirates Dirham (AED). The initiative is a joint venture with Phoenix Group and Green Acorn Investments and aims to facilitate transactions and payments within the UAE. Key Points: UAE Dirham-Pegged Stablecoin: Tether will introduce a digital … Read more
South Korea’s largest cryptocurrency exchange, Upbit, has recently expanded its USDT market by adding two new memecoins: Brett (BRETT) and Pepe (PEPE). This move aligns with Upbit’s strategy to capitalize on the growing popularity of memecoins in the cryptocurrency space. The addition of these tokens has generated significant interest and market activity, leading to notable … Read more
The Tether treasury has recently minted $1 billion USDT on the Tron Network, with transaction hash 2c06e9a0e….4b20a and block 64495305. This move highlights the increasing adoption and demand for the Tron Network within the cryptocurrency ecosystem. Recent Minting Activity Over the past year, the Tether treasury has minted a substantial total of $33 billion USDT. … Read more