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 […]

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 […]

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 […]

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