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Search Results for: stablecoins

Singapore’s Central Bank Introduces Guidelines for Stablecoins Issuers

In an effort to improve the reliability of single-currency stablecoins, Singapore’s central bank, the Monetary Authority of Singapore (MAS), issued new guidelines on August 15. For single-currency stablecoins having a circulation value of more than S$5 million tied to the Singapore Dollar or any fiat of the G10 nations, the

August 15, 2023 2 mins read

US Financial Committee Chairman to Pass Landmark Legislation on Stablecoins

The Chairman of the Financial Services Committee of the United States, Patrick McHenry, who is serving the tenth Congressional District has introduced the Clarity for Payment Stablecoins Act through Bipartisan vote. In Washington, this Thursday, Chairman McHenry laid the foundation for regulating the stablecoin providers with strong consumer protection. This

July 28, 2023 2 mins read

Quantfury to Start Paying Federal Reserve Interest Rate Plus 50 Basis Points on Instantly Available Cash in USD and USD Stablecoins

NASSAU, Bahamas–(BUSINESS WIRE)–Quantfury Trading Limited (“Quantfury”), a global multi-asset brokerage firm, announces that effective today, clients will earn 5.75% in USD and USD stablecoins on instantly available cash balances. Unlike other brokerages and trading platforms, Quantfury pays interest daily, based on the leading economic indicator and directly to client spot

July 20, 2023 1 min read

Chaos on Binance US: Top Stablecoins Hit by Silent Crisis

Hacks and phishing attacks of different kinds invaded the crypto landscape in the first week of July. As a result, two major stablecoins breached their stable grounds, recording extreme lows on Binance US.  On July 9, around 00:00 UTC, the largest stablecoin, Tether (USDT), depegged from its $1 parity and

July 10, 2023 1 min read

The Rise of Stablecoins: A Secure Haven for Investors

In the ever-evolving landscape of cryptocurrency, the emergence of stablecoins creates waves, offering a refuge for investors in the tumultuous seas of digital finance. Buoyed by robust reserves and promising stability in a volatile market, these digital tokens have rapidly become a preferred asset. Moreover, leading banking institutions and federal

June 27, 2023 3 mins read

BUSD Stablecoin Drops to Fourth Place on Top Stablecoins List

CoinMarketCap data reveals that the U.S. dollar-pegged BUSD stablecoin has dropped to fourth place in market capitalization among other stablecoins, having lost more than $1 billion during the last 30 days. There has been a 29% drop from May 18’s $5.54B market value to today’s $4.3B valuation of BUSD. Since

June 18, 2023 2 mins read

Turbos Finance Releases Smart Routing for Stablecoins on Sui Network

Turbos Finance, a Sui ecosystem initiative, has presented a smart routing system designed specifically for the Sui-Move language. This is a first for a Sui DEX in production and a key innovation for capital-efficient swaps on the young network.  Sui users must now wrap USDC on the source network in

June 6, 2023 2 mins read

Japan’s Largest Bank MUFG Facilitates Domestic Banks to Issue Stablecoins

Mitsubishi UFJ Financial Group (MUFG), the biggest financial institution in Japan, has announced that it would utilize the Progmat Coin platform to produce locally backed stablecoins across public blockchains. Ethereum, Avalanche, Cosmos, and Polygon will all be used to issue stablecoins. Progmat Coin, it was said, is built to work

June 3, 2023 1 min read

Tether USDT Dominates Market Share as Other Stablecoins Decline

There have been shifts in the last year regarding the market domination of stablecoins linked to the US dollar. Tether USDT, however, has returned to its all-time high, according to statistics compiled by CoinGecko, while the majority of cryptocurrencies are on a negative trend. Circle’s USDC market share has dropped

May 29, 2023 1 min read

Ripple Launches CBDC Platform for the Development of CBDCs and Stablecoins

Full-service platform allows user to seamlessly mint, manage, transact and redeem CBDCs and stablecoins SAN FRANCISCO–(BUSINESS WIRE)–With more than 90% of countries exploring, developing and implementing Central Bank Digital Currencies (CBDCs) as a way to increase financial inclusion and lower the cost and risk of domestic and cross-border payment processes,

May 18, 2023 4 mins read