The issuer of the largest US dollar-pegged stablecoin, Tether, announced in a press statement that it plans to expand its services by introducing GBPT, a stablecoin pegged to the British pound. The token, scheduled for launch in July, will...
Circle Internet Financial, the company behind USD Coin (USDC), announced the introduction of Euro Coin (EUROC) on June 16. Euro Coin is a stable coin tied to the euro that will be available to the general public starting June...
There are various types of cryptocurrencies, each with its own set of characteristics. Some cryptocurrencies are designed to be utility tokens, which means they can only be used within the issuing ecosystem. A cryptocurrency may be a DeFi token,...
In the wake of the collapse of TerraUSD, an algorithmic stablecoin, it was widely expected that financial regulators would take swift action to set some ground rules for stablecoins. (See “Terra LUNA 99% Crash: How Did It All Go...
On 8 June 2022, the New York State’s Department of Financial Services (DFS) issued a Regulatory Guidance on Baseline Criteria for USD-Backed Stablecoins. The Guidance applies to entities licensed by the DFS to engage in virtual currency business activity (so-called “BitLicense”)...
Checkout.com, a well-known payments company valued at $40 billion, now accepts and processes cryptocurrency payments. It is one of the latest online payment startups to incorporate cryptocurrencies into its payment structure. The company will allow its merchants to accept...
TRON has surpassed Terra as the third-largest blockchain in terms of total value in its DeFi protocols. This happened less than a month after TRON launched USDD, an algorithmic stablecoin that works similarly to Terra's now-defunct UST. TRON's DeFi...
Stablecoins designed to maintain their one-to-one peg to a real-world asset like fiat currency such as the US Dollar, or Gold is the backbone of the crypto ecosystem. In terms of bringing much-needed liquidity to the ecosystem, stablecoins stand...
On 7 October 2021, the G20-mandated regulatory standard-setter, the Financial Stability Board (FSB) published a document titled: “Regulation, Supervision, and Oversight of “Global Stablecoin” Arrangements - Progress Report on the implementation of the FSB High-Level Recommendations” (Progress Report). The...
On 7 October 2021, the G20-mandated regulatory standard-setter, the Financial Stability Board (FSB) published a document titled: “Regulation, Supervision, and Oversight of “Global Stablecoin” Arrangements - Progress Report on the implementation of the FSB High-Level Recommendations” (Progress Report). The...
