Silvergate Capital Purchases Diem Operations to Develop Own Stablecoin
Silvergate Capital, an investment firm that is the parent company of the Silvergate Bank, acquired the technology and assets of Diem, the formerly Facebook-backed stablecoin payment system. The payment totaled $182 million. The technology and assets acquired will reportedly be used for the launch of a Silvergate branded stablecoin.
Stablecoin USDC's ERC20 Issuance Surpasses USDT's Total Supply on Ethereum
On Saturday, January 15, 2022, the market capitalization of all the stablecoins in existence is $173 billion, which represents 7.93% of the $2.18 trillion crypto-economy. The market valuations of stablecoins tether and usd coin represent 71.84% of the entire stablecoin economy’s value. This week, the current total supply of usd coin surpassed tether, in terms of tokens issued on the Ethereum blockchain, as usd coin has a 0.568% larger fully diluted market capitalization on the smart contract network.
Turkey embraces Bitcoin and Tether as the lira keeps spiraling down
Crypto trading volumes using the lira reached a 15-month high as Turks race to get rid of their national currency.
Stablecoin Flippening: UST Becomes the Biggest Decentralized Stablecoin By Market Cap
UST, one of the stablecoins of the Terra project, has become the largest stablecoin by market capitalization today, after having surpassed its Ethereum-based rival, DAI. UST is now the largest decentralized stablecoin in the market, closing a year of growth for the Terra ecosystem, which is now among the most valuable top ten cryptocurrency projects in the market.
UK Intelligence Chief Raises Concerns About Use of Digital Renminbi to Control Global Transactions
The chief of the Government Communications Headquarters (GCHQ), one of the big three intelligence agencies in the U.K., has raised concerns regarding China and its digital renminbi. Sir Jeremy Fleming stated that the already existent Chinese CBDC could be used to collect information from users and, hypothetically, to control and filter global transactions.
EU Confirms its Firm Stance on All Stablecoins, Not Facebook's Libra Only
The EU has taken a firm stance on stablecoins. But a senior government official in Lithuania says the move will not stop stablecoin operators from proceeding with their plans as the EU is not against innovations and simplified payments.
Stablecoins Can Temper US Dollar Hegemony Risks, Says Non-Profit Exec
Stablecoins have the potential to temper the systemic threats posed by the United States dollar’s domination of global foreign currency reserves, according to an opinion piece published by the World Economic Forum (WEF).
McAfee Champions Importance of Stablecoins for Decentralized Exchanges
American entrepreneur and staunch crypto advocate, John McAfee, has argued for the importance of stablecoins for decentralized exchange (DEX) adoption.
ECB President: Stablecoins and Crypto Not Suitable Money Substitutes
Mario Draghi, president of the European Central Bank (ECB) shares his views on stablecoins, the future of crypto assets, and possible digital form of the Euro.
What are stablecoins?
What stablecoins are and how do they differ from conventional cryptocurrencies. Stablecoins are digital cryptocurrency assets that are tied to the value of other assets (mostly the fiat ones), which allows them to maintain exchange rate stability. We often write about them in our news section about stablecoins.
Germany takes aim at Facebook Libra; plans to block private stablecoins
The German grand coalition, the governing coalition of the two biggest political parties in Germany, is looking to deny the launch of projects like Libra, according to a report by Spiegel.
Binance has added a new pair, but Jao is not as optimistic
Binance has recently added a trading pair with its own stablebcoin and pound sterling. However, CEO Changpen Zhao (CZ) does not seem to be too happy with this event:
Biggest Crypto Exchange Takes on Tether With Own Stablecoins
Binance, the world’s largest cryptocurrency exchange, will begin issuing so-called stablecoins “in a matter of weeks to a month or two," Chief Financial Officer Wei Zhou said in a phone interview. Traders use these lower-volatility coins to facilitate transactions and to park funds during wild swings in prices, and until now, Tether has been the undisputed market king.
Usd-Pegged Stablecoins Surge As Market Cap Exceeds $4 Billion
Market capitalisation for USD-pegged stablecoins including USDC, UDS and USDT exceeds $4 billion in May, with surge in trading.
Circle CEO Jeremy Allaire: Stablecoins That Use Open Standards Will Prevail
Jeremy Allaire, co-founder and CEO of payments company Circle, has said that as the sector continues to see new market entrants, stablecoins using an open standards approach will prevail. Allaire made his remarks during an interview with Fortune’s crypto-focused segment The Ledger on March 19.
New Freelancing Platform Supports 12 Different Cryptocurrencies
There’s a new freelancing platform called Freelance for Coins that provides users with the ability to publish offers and bids for cryptocurrencies. In order to help facilitate deals between users, the service not only allows people to publish their bids and offers, but also provides them with a messenger for chatting. It also enables crypto invoices for coins like BTC, BCH, ETH, XMR, and a few stablecoins.
Swiss Crypto Industry Leader Says Next Crypto Wave Will Be Stablecoins, Security Tokens
Bitcoin Association Switzerland board member Luzius Meisser says he believes the next wave of crypto innovation will focus on stablecoins and security tokens. Meisser made his remarks during an interview with Cointelegraph’s correspondent during the Crypto Finance Conference in St. Moritz, Switzerland on Jan. 16.
Crypto Industry is Betting Big on the Future of Stablecoins
When merchants started introducing bitcoin and similar digital currencies as one of their payment methods, they quickly encountered a significant problem: price volatility.
Stablecoins Could Lead Cryptocurrency Growth in 2019
Cryptocurrency, Stablecoins–With Bitcoin making a shaky climb closer to $4000, the entire industry of cryptocurrency is still reeling from hitting a relative low on the year last week. Since the start of the year, the number one cryptocurrency by market capitalization is down nearly 80 percent since peaking close to $20,000 in December 2017.
Japanese Regulator: Stablecoins Are Not Cryptocurrencies Under Current Law
Japan’s top financial regulator, the Financial Services Agency, has exclusively explained to news.Bitcoin.com how stablecoins are treated under current Japanese law. In addition to emphasizing that they are not virtual currencies, the regulator clarified the registration requirements for their issuers and dealers.