The regulators of China have now tightened control for digital assets and have prohibited the unauthorised issuance of yuan-pegged stablecoins overseas and widened the prohibition to real-world assets associated with the currency of the country. On February 6, the People’s Bank of China (PBOC), with seven government agencies, released a
An analyst, Darkfost from CryptoQuant, has shared that at a time when crypto sell-offs boost, the inflows of stablecoin to exchanges have double-folded to $98 billion from the last levels. The increase of stablecoin inflows has crossed the 90-day average of $89 billion. The analyst further notes in the blog
U.S. Senator Cynthia Lummis has called on banks to stop resisting Cryptocurrencies and Stablecoins and instead start adopting them as part of their modern financial services. Speaking in the Interview aired on Fox News, she argued that digital assets can help banks to create new products at a lower cost
Tether, the company behind the largest stablecoin USDT, has now invested a $150 million stake in Gold.com to buy Gold. This investment gives Tether 12% ownership in Gold.com. Tether aimed to offer a tokenized gold that can be traded on the blockchain and is safer during the global economic uncertainty.
Binance Co-Founder CZ, short for Changpeng Zhao, has confirmed that he is trying to make advancements for the stablecoin sector. Stablecoins hold a significant share of the crypto market’s global share. Any further advancement is likely to re-establish the stablecoin sector as a quality alternative for crypto enthusiasts. However, Brazil
Tether, the world’s largest stablecoin USDT company, is now reconsidering its large fundraising plan. Earlier reports suggested that the company was planning to raise around $20 billion by selling new shares. This plan could move the company’s value to nearly $500 billion. But now talks say that the company may
South Korean digital bank KBank, also known as a “big partner” of Upbit, has filed trademarks related to stablecoin and crypto wallet services. This is particularly interesting as the bank is soon to go public with its initial public offering. The filing of trademarks indicates that KBank is planning to
KuCoin, an exchange platform, has announced its support for USD1. The WLFI stablecoin will be available on a network with deposits expected to commence soon. The move comes at a time when USD1 is moving upward on the list of global stablecoins in terms of market cap. KuCoin Now Supports
The Hong Kong–listed digital asset company, OSL Group, has secured $200 million in new equity financing to accelerate its global expansion in stablecoin trading and regulated payment services. According to a press statement issued on January 29, OSL Group was the first exchange to obtain a license from the Hong Kong Monetary
The UAE has officially entered the regulated stablecoin race, where the private firm, Universal Digital Intl Limited, launched the first U.S. dollar-pegged token, registered by the Central Bank of the UAE, on January 29, aimed at enabling compliant digital-asset settlement under the country’s new payment token framework. USDU, Backed by
