Stablecoin is a type of cryptocurrency intended to maintain a stable value by being pegged to a reserve asset, such as a fiat currency (USD, EUR), commodities (gold, silver), or other cryptocurrencies. Unlike older cryptocurrencies such as Bitcoin and Ethereum, which have high price volatility, stablecoins offer price stability, hence
Singaporean department store chain Metro has joined forces with local crypto payments firm DTCPAY to integrate stablecoin payments across its physical stores and online platform, Metro Mall. The Metro will support four major stablecoins namely Tether’s USDT, Circle’s USDC, Worldwide Stablecoin Payment Network’s WUSD, and the Metro will also add
Stablecoins have been gaining much traction ever since Trump won US elections in 2024. White AI & Crypto Czar David Sacks highlighted the potential of stablecoins multiple times publicly. He even stated stablecoins are a better option compared to CBDCs and they can help extend the dollar’s dominance across the
The crypto market has furthered downwards over the weekend. Bitcoin has once again docked its ship at $95,000 after progressing closer to $100K just a few days ago. These bearish winds have also swayed the AltSeason’s sails causing minor price drops. On the other hand, the past day has seen
Standard Chartered Bank (Hong Kong) Limited (SCBHK), Animoca Brands, and HKT have announced the formation of a joint venture (JV) to issue a Hong Kong dollar-backed stablecoin. The JV aims to apply for a license from the Hong Kong Monetary Authority (HKMA) under its new regulatory framework. SCBHK brings its
Stablecoin Issuance by Taiwan Banks Taiwanese Virtual Assets Law going to be placed into Congress by June of 2025. This legislation will enable, for the very first time ever, Taiwanese Banks. Which is to issue a product called stable coins. Stable-coins are essentially cryptocurrencies that purport to operate at a
The Tron ecosystem has been growing at an unprecedented rate since Q4 2024. To further boost its performance, its founder Justin Sun announced plans to offer zero-fee stablecoin transactions on the platform today. Additionally, the collaboration between Tron and Trump’s World Liberty Financial is also turning all the eyes towards
The Frax community has approved FIP-418, allowing BlackRock’s BUIDL token to collateralize the frxUSD stablecoin. This proposal passed unanimously after six days of voting, Frax Finance announced on Thursday. BlackRock’s BUIDL token, a tokenized money market fund, invests in U.S. Treasury bills, cash, and repurchase agreements. It ensures stability, liquidity,
As many countries, including the United States, show growing support for cryptocurrency, India’s Ministry of Finance recently discussed its views on Decentralized Finance (DeFi), highlighting both its promise and the challenges it poses. In response to a question in the Rajya Sabha, Pankaj Chaudhary, Minister of State for Finance, acknowledged
The UAE is witnessing a remarkable surge in cryptocurrency investments. According to a recent eToro survey, 37% of UAE investors plan to increase their crypto investments in 2025. Bitcoin and stablecoins, such as Tether, continue to dominate the market. From 2023 to June 2024, the UAE saw a $34 billion
