The credit card giant Visa aims to integrate Ethereum blockchain-powered solutions into its services. According to the firm, they have been experimenting with “how to accept payments from issuers in USDC on Ethereum and payout in USDC”. Additionally, there are large settlement payments. The President of the cryptocurrency division at
On the XDC chain, Fathom, the largest lending/borrowing platform has been built. Significantly, Fathom will provide a platform for consumers to borrow, and earn XDC and tokenized Real-World Assets (RWA) as collateral to borrow the over-collateralized price-stable currency FXD. The fundamental premise is the sustainable liquidity protocol, which is to
Bloomberg claimed on January 26 citing anonymous sources that Moody’s was working on a scoring system for stablecoins. That would include assessments for up to 20 digital assets. Moody’s is a credit rating agency that publishes evaluations of credit risk. In the form of ratings for publicly listed firms. The
Paxos, a stablecoin issuer, considered paying MakerDAO a recurring charge for keeping up to $1.5 billion in Pax USD (USDP) stablecoin reserves. As per the proposal, to encourage the use of USDP within the Maker ecosystem and increase the USDP PSM Debt Ceiling to 1.5B USDP, Paxos will send MakerDAO
Australia’s second native currency-backed stablecoin is going to be live soon, as regulated banks around the globe are turning their focus over the stablecoins. National Australia Bank (NAB) has developed an AUDN, having a one-to-one peg with the Australian dollar. Australia and New Zealand Banking Group Limited (ANZ) released the
The world’s largest cryptocurrency exchange Binance’s partner Paxos burned 61,634908 Binance USD, which is worth over $61665725.45. Binance USD, also known as BUSD. The Paxos Trust Company, a financial technology company with headquarters in New York, issues BUSD under the Binance brand. It is anchored to the $1 price principally by
A U.S. bankruptcy judge determined on Wednesday that Celsius Network controls the majority of the cryptocurrency that users deposited onto its online platform. This implies that most Celsius users will be last in line for repayment in the crypto lender’s bankruptcy. According to a 45-page petition from the U.S. Bankruptcy
There will be no further releases of the app that generates the stablecoin Vader Protocol US Dollar (USDV), its creators said on December 29. Like the doomed Terra network, Vader protocol was an algorithmic stablecoin network. It was hoped that encouraging arbitrages would ensure that USDV would always be worth
Amid the ongoing depeg of stablecoins in the past and present. Along with several collapses of crypto firms, regulators around the globe are looking for legislation to regulate the crypto sector. Pennsylvania Senator Pat Toomey is leaving office this month. The Senator discreetly proposed new cryptocurrency legislation a week after
The debate upon the stablecoins has been the most anticipated topic for the year 2022. Most people know very well that the crypto industry is indeed an extremely volatile industry along with extreme insecurities, being the situation in recent times desperately. The stable coins were always said to be a
