Will CBDCs replace stablecoins?

The growth of stablecoins within the crypto industry has surged in the past year, with the total supply reaching $31.7 billion at the time of writing. Source: The Block Most of the growth has been driven by USDT and USDC, the two largest stablecoins by total supply, accounting for 75% and 14% of the stablecoin […]

What Are Stablecoins?

A “stablecoin” is a type of cryptocurrency whose value is tied to an outside asset, such as the U.S. dollar or gold, to stabilize the price. Cryptocurrencies such as Bitcoin and Ethereum offer a number of benefits, and one of the most fundamental is not requiring trust in an intermediary institution to send payments, which […]

Fintech in Brief: OCC Issues New Crypto-related Interpretive Letter

On January 4, 2021, the Office of the Comptroller of the Currency (OCC) issued the latest in a string of interpretative letters on permissible crypto-related activities of national banks and federal savings associations (collectively referred to as OCC Banks). Acting Comptroller Brian Brooks has been a vocal advocate for cryptocurrencies and blockchain innovations during his […]

BSN architect firm eyes CBDC with two new projects

The company behind China’s Blockchain Services Network revealed two projects to build infrastructure for central bank digital currencies (CBDCs) and stablecoins, promising a BSN payments layer, and a public chain in which “gas fees” can be paid without buying cryptocurrency. He Yifan, CEO of Red Date Tech, spoke at a TechNode-sponsored webinar recorded Dec. 21.  […]

Banks Are Authorized to Use Public Blockchains and Stablecoins for Payment Activities

The top banking regulator in the U.S. has announced that national banks and savings associations in the country can use public blockchains and stablecoins for payment activities. Experts say this is good for bitcoin and its importance should not be understated. Banks Can Use Public Blockchains and Stablecoins The Office of the Comptroller of the […]

How Global Stablecoins Can Promote Financial Stability in the World

Global stablecoins could provide market participants with a cost-efficient means to rebalance their capital across global markets. In the past year, three major financial oversight bodies have voiced concerns about threats to financial stability purported to be posed by stablecoins. While acknowledging the potential for enhanced payments efficiency, reports from the Bank for International Settlements, […]

Here’s a look at Bitcoin’s future as an Ethereum token

Crypto community has been seeing a lot of efforts recently in injecting Bitcoin into the DeFi ecosystem. The latest implementation of BTC on Ethereum blockchain, renBTC[REN] and went live just last week. Loong Wang, CTO, and Co-founder of Ren appeared on a recent podcast and talked about this new implementation.  He noted that the main […]

Chinese Communist Party’s new blockchain book casts Libra as a threat to its currency system

China’s Central Party School has published a new book, Discussing Digital Currency with Leading Officials, that according to local media reports touches on topics like central bank digital currency, stablecoins, exchanges and trading, cross-border payments and initial coin offerings According to the reports, the book describes Libra as a threat to China’s leadership in the global […]

Stablecoins Need to Achieve Cross-Chain Compatibility

In the cryptocurrency space, there are a lot of different opinions on stablecoins. Vitalik Buterin sees some merit in these assets, although they may not find their core niche in their current state. The stablecoins currently on the market seem to struggle quite a bit. Stablecoins Need to Keep Evolving Only Tether’s USDT is effectively […]

Stablecoins can serve as instant cross-blockchain bridges – Vitalik Buterin

The co-founder of Ethereum, Vitalik Buterin, suggested that stablecoins could let users move value across different blockchains.  Bitcoin activist Udi Wertheimer said that users don’t care about how systems work as long as they are interconnected. Tether’s CTO believes third parties should implement a system solving the problem of lack of interoperability.  According to Vitalik […]

This crypto startup just raised $10M in an ICO, in 2020

Silicon Valley-based crypto startup Celo just raised $10 million through an ICO-like sale on CoinList, a regulatory compliant token sale platform. Just when we thought the ICO gold rush was over, one Silicon Valley-based crypto startup is proving that it can still be done – sort of. cLabs, the company behind the Celo blockchain, today […]

Stablecoins Could Transfer Value Across Blockchains, Says Vitalik Buterin

Ethereum co-founder Vitalik Buterin suggested that stablecoins could serve as instant cross-blockchain bridges. Ethereum co-founder Vitalik Buterin thinks that the stablecoin industry is missing a valuable opportunity to improve interoperability between different blockchains.  In a lengthy Twitter thread on May 20, Buterin suggested that stablecoins could enable users to move value across different blockchains: “In […]

Michael Novogratz: We should be valuing Ethereum like Wall Street values Facebook

With cryptocurrencies, there are no cash flow statements or balance sheets an investor can analyze to get a good sense of their intrinsic value. This makes it hard for conservative Wall Street players like Warren Buffett — who analyze their investments by discounting cash flows – from dipping their toes into Bitcoin and cryptocurrency. According […]

TRON Now Ranks Second After Ethereum (ETH) in the Issuance of USDT

The Tron network now hosts the second largest amount of Tether (USDT) after the Ethereum network. Tether (USDT) has been issued on 6 blockchains. Tron (TRX) now hosts the second-highest amount of USDT after the Ethereum network. The parent company of Tether now has $8.59 Billion in total assets. The Bitcoin (BTC) halving is now […]

ECB warns Libra could amass $3 trillion in assets

If stablecoins take off but malfunction, they could pose a big risk to financial stability, says the European Central Bank. In brief The potential size of Libra’s assets and links with the wider financial system pose a risk to stability, says a new ECB report. The report estimated that Libra could amass assets of up […]

75 Companies Back Facebook Libra’s Competitor Celo

Celo, a competing project to Facebook’s Libra cryptocurrency, has added 50% more new members to its alliance, bringing the total number of supporting organizations to 75. Some Celo members are also supporters of the Libra project, such as Coinbase Ventures, Anchorage, and Andreessen Horowitz. Celo Project Adds Over 20 Members The Celo Foundation announced Tuesday […]

HSBC Chief Legal Officer, Stuart Levey Joins Libra as CEO; Bringing Transparency to the Association

Stuart Levey’s experience within both the private and governmental sector made him a clear choice for Libra. The Libra association has appointed Stuart Levey as the organization’s first CEO according to an announcement on May 6. Mr. Levey is HSBC’s current Chief Legal Officer and is expected to take this Facebook initiative to the operational […]

Brave Browser To Add BNB and BUSD As Part Of Its Reward System In The Future, Says CZ

Binance CEO Changpeng Zhao (CZ) and Brave Software co-founder and CEO Brendan Eich said in a live stream earlier today that the partnership between the two will continue with new developments. Both companies plan to introduce Binance Coin (BNB) and Binance USD (BUSD) as new additions to the Brave Browser Rewards system. Brave Browser To […]

Payments Processor Checkout.com Joins Facebook-led Stablecoin Project Libra Association

British payments processor Checkout.com has become an official partner of the Libra Association, which works on developing Facebook’s Libra digital currency. This comes after Mastercard, Visa and Stripe have decided back in October to no longer support Libra. In the last few weeks, the crypto broker Tagomi together with the e-commerce behemoth Shopify and non-profit […]

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