Stablecoins

According to a report published by Chainalysis on October 23, North America stands as the largest cryptocurrency market they have studied, with an estimated transaction volume of $1.2 trillion between July 2022 and June 2023. This accounts for 24.4% of global cryptocurrency transactions during that period. The United States leads the pack, ranking first globally, […]

Heath Tarbert, who previously served as the Chairman of the Commodity Futures Trading Commission (CFTC) and is now the Chief Legal Officer at Circle, has penned an opinion piece for CoinDesk emphasizing the need for immediate legislative action on stablecoins. Tarbert draws a parallel between the financial crisis instigated by the collapse of Lehman Brothers […]

In recent days, a marked uptick in on-chain activity surrounding the leading stablecoin Tether ($USDT) has been seen, with data showing that nearly $10 billion worth of the stablecoin is now sitting on exchanges, the highest level seen in roughly seven months. According to data from on-chain data analytics platform Santiment, this means that cryptocurrency […]

A Polygon-based real estate-backed stablecoin called Real USD ($USDR) has lost over half of its value in a matter of hours after it was drained off of its liquid collateral, leaving only rental properties in the UK backing the cryptocurrency. According to on-chain data from the Tangible decentralized autonomous organization (DAO), the entity behind the […]

Popular Singapore-based cryptocurrency exchange Crypto.com has announced a new partnership with PayPal and Paxos for it to become a preferred exchange for the PayPal USD (PYUSD) stablecoin that the payments giant launched last month. The cryptocurrency exchange has said in a press release that it has already listed PYUSD on its platform for both retail […]

Singapore-based cryptocurrency exchange Crypto.com has revealed it’s adding numerous trading pairs involving numerous altcoins PayPal’s stablecoin PYUSD, with trading pairs allowing users to trade $XRP against the stablecoin. The move comes as Crypto.com established a partnership with PayPal and Paxos to become a preferred exchange for the PYUSD stablecoin that the payments giant launched last […]

CCData, a renowned FCA-authorized benchmark administrator and global leader in digital asset data, has unveiled the September 2023 edition of its “Stablecoins & CBDCs Report”. The CCData Stablecoins Report is designed to highlight significant trends and activities in the stablecoins industry. The report centers on evaluations concerning market capitalization and trading volumes of various stablecoins, breaking […]

Jeremy Allaire, the CEO of Circle, believes that the United States is on the verge of implementing legislation that will regulate stablecoins, providing much-needed clarity for the cryptocurrency industry. During an interview with journalist Laura Shin on episode 543 of the Unchained Podcast, Allaire expressed optimism that the ongoing discussions around stablecoin regulation will ultimately […]

Global payments giant Visa has announced its latest move to modernize cross-border financial transactions. What Is USD Coin (USDC)? USDC, or USD Coin, is a type of stablecoin that is pegged to the U.S. dollar. Each USDC token is meant to be equivalent to one U.S. dollar, held in reserve by regulated financial institutions. The […]

San Francisco-based crypto investment firm Paradigm recently published a paper discussing the future of stablecoins in the payment system. Authored by Policy Manager Brendan Malone, the paper argues against applying traditional banking and securities frameworks to stablecoins, emphasizing their unique characteristics and use cases. The paper begins by acknowledging that while recent U.S. Congressional proposals […]

Blockchain analytics company Santiment reports a significant surge in on-chain volume for XRP, the cryptocurrency that powers Ripple’s cross-border payments solution. Santiment notes that as of the beginning of September, XRP has recorded its highest on-chain volume since February 1st. This increase is accompanied by a marked rise in development activities related to the digital […]

Stablecoins have emerged as a bridge between traditional finance and the decentralized world of cryptocurrencies. Among the latest entrants in this space is PYUSD, a product of the global online payments giant PayPal. Launched on 7 August 2023, PYUSD is the result of a strategic collaboration between PayPal and Paxos Trust Limited. This partnership signifies […]

The total market capitalization of the stablecoin sector in the cryptocurrency space has endured its 17th consecutive monthly decline in August, falling by 1.28% to $124 billion, the lowest level since August 2021. According to CCData’s latest Stablecoins & CBDCs report, both BUSD and TUSD stood out in experiencing significant declines of 9.35% and 9.15% […]

Last week, digital payments giant PayPal Holdings, Inc. unveiled its U.S. dollar-pegged stablecoin, PayPal USD (PYUSD), marking a strategic pivot into the Web3 and digital payment sectors. A blend of U.S. dollar deposits and short-term U.S. Treasuries anchors PYUSD. Paxos Trust Company, the entity issuing the stablecoin, guarantees its 1:1 parity with the U.S. dollar. […]

The U.S. dollar, long revered as the world’s dominant reserve currency, might find an unexpected ally in its quest to maintain global supremacy: stablecoins. According to an opinion piece by By Brian P. Brooks — who is a former acting U.S. Comptroller of the Currency and a former FDIC Board Member — and Charles W. […]

PayPal’s Groundbreaking Announcement Yesterday, PayPal Holdings, Inc., a dominant force in the digital payments realm, unveiled its Ethereum-based stablecoin, PayPal USD (PYUSD). This strategic move is a testament to PayPal’s ambition to further penetrate the burgeoning world of Web3 and digital-centric payments. According to the details shared by PayPal, PYUSD is anchored by a mix […]

In a landmark development, PayPal Holdings, Inc., a titan in the digital payments space, has taken the wraps off its own stablecoin pegged to the U.S. dollar, dubbed PayPal USD (PYUSD). This initiative marks PayPal’s strategic foray into the rapidly evolving universe of Web3 and digital-centric payments. According to PayPal’s press release, the newly minted […]

The stablecoin sector has kept on declining over the month of July up until the 17th, marking its sixteenth monthly decline to its lowest level since August 2021, falling 0.82% to $127 billion. According to CCData’s latest Stablecoins & CBDCs report, this month USDT continued to remain the dominant stablecoin with a new all-time high […]

In a bid to address the challenges of fraud and money laundering, Europe has initiated several measures to utilize the potential of blockchain technology. The European Commission has launched a comprehensive Digital Financial Package in line with the recently introduced Markets in Crypto Assets regulation (MiCA). This package aims to promote the use of cryptocurrencies […]

The crypto market has seen a shift in the winds, as the total market capitalization of stablecoins experienced a decrease of 0.57% to $128 billion in June, the lowest it’s been since September 2021, according to the latest Stablecoins & CBDCs report by CCData. The figures mark the fifteenth consecutive month of decline in the […]

New data from the stablecoin sector of the cryptocurrency space, taken from the Ethereum ($ETH) blockchain, shows that crypto whales haven’t cashed out of the market during its recent turbulence, but rather that they’re waiting in the sidelines while holding onto stablecoins. According to a recent report from cryptocurrency analytics firm Santiment, stablecoin sharks and […]

During an interview on CNBC interview on June 6, 2023, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler expressed his views on the current state of digital currencies and the need for cryptocurrency exchanges to adhere to U.S. securities laws. Gensler emphasized that the world already has digital currencies, such as the U.S. dollar, […]

After the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against leading cryptocurrency exchange Binance, cryptocurrency prices plunged amid a wave of fear, uncertainty and doubt (FUD), smart money investors have quickly started buying the dip. According to data from popular blockchain analytics platform Lookonchain, significant movements of Circle’s stablecoin pegged to the U.S. […]

In a move set to enhance the functionality of the Arbitrum ecosystem, Circle, the “global financial technology company helping money move at internet speed,” has announced the upcoming launch of its stablecoin, USDC, on the platform. Slated for June 8, 2023, this development will replace the existing Ethereum-bridged version of USDC with a native version. […]

Tether, the issuer of the widely used Tether (USDT) stablecoin, has announced a new all-time high in its market cap, exceeding the previous record of $83.2 billion set in May 2022. Paolo Ardoino, Tether’s CTO, attributes this milestone to the increasing demand for financial freedom and the unique advantages offered by Tether tokens. According to […]

This month the total market capitalization of the stablecoin sector within the cryptocurrency space has reached its lowest level since September 2021, marking its fourteenth consecutive month of decline, as it fell 0.45% to $130 billion as of May 23. According to CCData’s latest Stablecoins & CBDCs report, stablecoin trading volumes fell this month by […]

Leading stablecoin issuer Tether, the firm behind the USDT token, has recently revealed that it amassed $2.5 billion in excess reserves, and that it now plans to use 15% of its realized net operating profits to invest in the flagship cryptocurrency Bitcoin ($BTC). According to a recent announcement, Tether’s excess reserves currently account for approximately […]

In a significant stride for the digital currency space, the Djed Alliance has announced the deployment of the Djed stablecoin protocol on Milkomeda-C1. The Djed Alliance is a consortium of contributors from around the globe, dedicated to instilling stability in the notoriously volatile cryptocurrency sector. The alliance oversees the Djed Stablecoin Protocol, fostering its implementations […]

While the stablecoin sector of the cryptocurrency space rapidly grew in the past, it has now been declining for 13 consecutive months, while Tether’s USDT stablecoin has kept on dominating it. It’s now near a new all-time high in its market capitalization, with TUSD gaining market share on Binance thanks to zero-fee trading. According to […]

On Tuesday (April 4), Brazilian financial powerhouse BTG Pactual, recognized as one of Latin America’s largest investment banks, unveiled its inaugural stablecoin via the bank’s cryptocurrency platform, Mynt. BTG Pactual, a prominent financial services firm based in Brazil, specializes in investment banking, wealth management, and asset management. Established in 1983, it has grown to become […]

The total market capitalization of the stablecoins within the cryptocurrency space has fallen by 1.35% to $133 billion, the lowest it has been in 18 months, amid a US banking crisis that has been part of the reason behind the space’s decline for its twelfth consecutive month. According to CryptoCompare’s latest Stablecoins & CBDCs report, […]

In a recent video, Shahaf Bar-Geffen, CEO of FinTech startup COTI Group, explained why Cardano-powered algorithmic stablecoin Djed ($DJED) maintained its peg last week, despite some other major stablecoins faltering amidst market turbulence. He also explained why Djed has a bright future. Background On 26 September 2021, day two of the two-day Cardano Summit 2021, IO […]

Binance USD (BUSD) tokens have been subject to a significant sell-off by major whales on the BNB Chain, as the cryptocurrency market experiences a seismic shift in the stablecoin arena. This sell-off trend is in line with the absence of new BUSD supply being introduced into circulation, resulting in investors fleeing the stablecoin as liquidity […]

Decentralized exchanges (DEXs) have experienced a significant trading volume surge during the stablecoin crisis seen earlier in the week, which saw the value of the second-largest stablecoin by market capitalization, USDC, plunge to a low of $0.87 before recovering, According to CryptoCompare’s latest Market Analysis blog post, this market USDC’s all-time low, and came after […]

A “desperate” cryptocurrency investor has paid well over $2 million in an on-chain trade to swap out of an investment offering them exposure to $USDC and the decentralized stablecoin $DAI and into $USDT, but only received $0.05 in return. According to an analyst’s take on the trade and a postmortem report from the decentralized exchange […]

On Sunday (March 12), the crypto market had a great to reason to cheer after U.S. Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg released a hugely important joint statement. As you probably already know, on Friday (March 10), Silicon Valley Bank (SVB) was […]

A newly published report reveals that in February, the total market capitalization of the stablecoins in the sector fell by 0.68% to $136 billion, making their lowest market capitalization since September 2021 and the eleventh consecutive monthly decline. CryptoCompare’s latest Stablecoins & CBDCs Report adds that the total market share of stablecoins in the sector is […]

As stablecoin issuer Paxos anxiously waits to deal with the alleged investigations by U.S. regulators of how it administered fiat-backed stablecoin Binance USD ($BUSD), crypto analysts are trying to gauge the potential impact will on the stablecoin market and the crypto space in general. Yesterday, Paxos announced that it will “end its relationship with Binance […]

The recently launched Cardano-powered algorithmic stablecoin Djed ($DJED) is now backed by over 31.5 million $ADA tokens, as its adoption keeps on growing and its reserve ratio remains high. According to data from the project’s website, DJED’s reserve ratio currently stands at 488%, with 31.6 million $ADA backing a total of 2.27 million $DJED tokens […]

In a fireside chat (titled “DeFi: Resilience in the Face of Global Uncertainty”) with Alex Cohen at the two-day event StarkWare Sessions held during ETHTLV 2023 week in Tel Aviv, Israel, Aave Founder and CEO Stani Kulechov shared his thoughts on the DeFi space and its potential for wider adoption. As Cointelegraph reported earlier today (6 February […]

This article looks at Djed ($DJED), which is an “overcollaterized” Cardano-powered stablecoin developed by IOG and issued by FinTech startup COTI Group, and in particular, how holders of Djed’s reserve coin $SHEN can receive delegation rewards from day one. What Is $DJED? On 26 September 2021, day two of the two-day Cardano Summit 2021, IO Global (IOG), the […]

France-based multinational financial services giant Société Générale has withdrawn $7 million in the cryptocurrency-backed stablecoin DAI from MakerDAO, out of a vault that has a debt ceiling of $30 million in DAI. As The Block reports, Société Générale was approved to start a MakerDAO vault last year after a vote from the decentralized autonomous organization’s […]

The United Nations refugee agency, the Office of the U.N. High Commissioner for Refugees (UNHCR), is set to start aiding displaced Ukrainians through the USDC stablecoin via digital wallets running on the Stellar ($XLM) network. According to a recent announcement, the UNHCR has launched a program to use the Stellar blockchain to transfer USDC, a […]

Blockchain data shows that cryptocurrency whales have been “massively” accumulating stablecoins including Binance USD, DAI, and Tethers USDT, all while Bitcoin whales have been adding to their war chests as well. According to on-chain analytics firm Santiment, Bitcoin addresses with between 100 and 10,000 $BTC have bought a total of $726 million worth of the […]

On Wednesday (14 December 2022), Ralph Schlosstein, who is Chairman Emeritus at global independent investment banking advisory firm Evercore Inc., share his thoughts on crypto. His comments were made during an interview with Guy Johnson and Alix Steel on Bloomberg Television’s “Bloomberg Markets”. Schlosstein said: “I think in the world of crypto, you really have […]

Recently, Dr. Fabio Panetta, a Member of the Executive Board of the European Central Bank (ECB), talked about crypto finance during a speech given at the Insight Summit held at the London Business School (LSB). Panetta, whose speech was titled “Crypto dominos: the bursting crypto bubbles and the destiny of digital finance”, mentioned that we […]

On Thursday (8 December 2022), Coinbase announced that it had decided to make it easier for its “global retail customers” to convert Tether ($USDT) to USD Coin ($USDC), highlighting the latter’s good reputation without directing attacking the former. According to Coinbase’s blog post, customers are looking for stability and trust in the midst of market […]

A Cardano-powered algorithmic stablecoin called Djed ($DJED) is set to launch early next year on the smart contract platform’s mainnet, according to an announcement developers made at the Cardano Summit in Lausanne, Switzerland. Djed, as CryptoGlobe previously reported, is an algorithmic stablecoin issued by fintech startup COTI Group. It’s a crypto-backed pegged algorithmic stablecoin for […]

Last week, at the 17th G20 Heads of State and Government Summit, which was held November 15-16, 2022 in Bali, Indonesia, the world leaders present made a joint declaration that had some interesting things to say about the “crypto-assets ecosystem”. In a joint declaration released by the White House on 16 November 2022, the G20 […]

In a recent interview, Alfred F. Kelly, Jr. (aka “Al Kelly”), who is Chairman and CEO of Visa Inc., said that he hopes that the collapse of FTX will lead to good crypto regulation, which is “what’s necessary to build back confidence for people.” According to a report by The Daily Hodl, the outgoing CEO […]

On Friday (18 November 2022), EMURGO, which is the commercial arm of Cardano, announced the planned launch of its new dollar-backed stablecoin USDA, which is “the first fully fiat-backed, regulatory compliant stablecoin in the Cardano ecosystem.” EMURGO, which was founded in 2017, is “a global blockchain technology company providing solutions for developers, startups, enterprises, and governments”; […]

Recently, STASIS, the issuer of EURS, which it claims to be the largest euro-backed digital asset’, announced that it had integrated the XRP Ledger to “further shape the vision of multichain stablecoin.” The Evolution of the XRP Ledger The open-source public XRP Ledger (XRPL) was created in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto; its […]

In a recent speech, Martin J. Gruenberg, who has been the Acting Chairman of the Federal Deposit Insurance Corporation (FDIC) Board of Directors since 5 February 2022, shared his thoughts on “the prudential regulation of crypto–assets.” Here is how Wikipedia describes the FDIC: “The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that […]

On 4 November 2022, Arthur Hayes, Co-Founder and former CEO of BitMEX, said that the programmability of central bank digital currencies (CBDCs) could take away “the ability to purchase Bitcoin”. In a blog post published two days ago, Hayes explained the difference between CBDCs and the current forms of electronic cash: “A CBDC is government […]

The number of stablecoin projects being launched on top of the XRP Ledger has been steadily growing over the last few months, with development teams across the globe improving the $XRP network over time. A pseudonymous cryptocurrency influencer has recently pointed out that there are at least six stablecoins now launched on top of the […]

Recently, FinTech startup COTI Group, the issuer of algorithmic stablecoin Djed (which is built on Cardano), shared with the Cardano community some important details about the current status of the project. What Is Djed ($DJED)? On 26 September 2021, day two of the two-day Cardano Summit 2021, IO Global (IOG), the blockchain technology firm responsible for the research and development […]

In a recent interview on CNBC’s “Crypto World” show, Jeremy Allaire, the Co-Founder, Chairman, and CEO of Circle Internet Financial, the issuer of fiat-backed stablecoin USD Coin ($USDC), talked about his firm’s long-term goal. According to a report by The Daily Hodl, Allaire told CNBC technology reporter Kate Rooney: “We want to be a full […]

Last week, Binance Co-Founder and CEO CZ talked to Ryan Selkis, Co-Founder and CEO at Messari, at Messari’s annual conference Mainnet (September 21-23, 2022) in New York City about fiat-backed stablecoins $BUSD and $USDC. As you may already know, on September 5, Binance announced that it would no longer support the use of fiat-collateralized stablecoins $USDC, $USDP, and $TUSD […]

On Monday (September 27), Federal Reserve Chairman Jerome Powell shared his thoughts on the regulation of the crypto industry during a speech at the Banque of France conference “Opportunities and challenges of the tokenisation of finance: which role for Central Banks?”. These comments were made at a roundtable (“How should central banks address financial stability challenges related to digitalization […]

On Monday (September 5), Binance announced that it will no longer support the use of fiat-collateralized stablecoins $USDC, $USDP, and $TUSD for trading, and instead “users’ existing balances and new deposits” will automatically get converted to $BUSD at a 1:1 ratio. According to a blog post published on September 5 by the world’s largest crypto […]