Eleven months of steady growth led to the market capitalization of stablecoins reaching an all-time high of $168 billion. The market’s sharp decline to $135 billion by the end of 2022 set the stage for a strong recovery. Reportedly, DefiLlama data reveals that the overall market capitalization of stablecoins has
Tether has actively collaborated with law enforcement agencies globally since its inception in 2014 to combat illegal activities involving its stablecoin, USDT. The company has played a significant role in helping 145 law enforcement agencies recover more than $108.8 million in USDT. This amount was tied to various illicit activities.
Abu Dhabi is taking significant steps towards regulating fiat-referenced tokens (FRTs), a specific type of stablecoin. The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) introduced a proposed framework on August 20. It aimed at overseeing the issuance and operation of FRTs. FRTs are digital assets
Tether, the issuer of the largest stablecoin, announced via its official website through a press release that it will soon launch USDT on the Aptos Blockchain. Aptos as a Proof of Stake network, has processed more than 1 billion transactions. This collaboration is said to make digital currency more accessible
PayPal’s U.S. dollar-pegged stablecoin, PYUSD, has seen significant expansion since its inception, with its supply on Solana now exceeding that on Ethereum. In August 2023, PYUSD launched on Ethereum in partnership with custodian Paxos, and its initial supply grew to $230 million by the end of the year. Due to
In H1 2024, the stablecoin sector witnessed 24.3% growth in market cap according to CMC data. It also dominated the DeFi sector and is stated to be a fast emerging digital asset. Popular stablecoins such as USDT and USDC showed substantial growth in users apart from increases in market cap.
Hong Kong is in the enhanced crypto regulatory frame, embracing cryptocurrency and blockchain technology, and recent policy briefs from the Securities and Futures Commission (SFC) and Hong Kong Monetary Authority (HKMA) show their clear and legible regulatory policies. Moreover, Hong Kong launched its first spot Bitcoin and Ether ETFs in
Satoshi Protocol, the first stablecoin protocol backed by Bitcoin, has secured $2 million in its seed round. Leading the fundraising round were CMS Holdings and RockTree Capital, with participation from prominent angel investors, Metalpha, Optic Capital, Side Door Ventures, and Cypher Capital, a multi-strategy crypto investment firm. With the help of the seed
In a notable development, Justin Sun, founder of TRON, announced a significant milestone as TRON’s issuance of USDT surpassed $60 billion, marking a milestone in the blockchain’s history. Sun highlighted TRON as the first blockchain to host a single stablecoin exceeding this threshold, underscoring its growing influence. The issuance of
Cardano gears up for the upcoming Chang hard fork to launch the Voltaire era, while also introducing the stablecoin Anzens (USDA) for DeFi development. Despite these advancements, ADA’s price experiences a decline, reflecting challenges in the market. Additionally, Pawfury (PAW) emerges as an innovative meme coin blending community-driven initiatives with
