Origin of Stablecoins Stablecoins made their debut in 2014. It aims to combine the steady value of fiat currencies with the openness and flexibility of blockchain technology. The first of its kind, BitUSD, was introduced in July 2014 as a credit-backed stablecoin on the BitShares platform. Tether (USDT), which was
Hong Kong has officially passed the Stablecoins Bill, marking a significant step forward in the regulation of digital assets. The legislation mandates that any company issuing fiat-backed stablecoins, particularly those pegged to the Hong Kong dollar or operating within Hong Kong’s jurisdiction, must now obtain a license from the Hong
Three years on from its Diem experiment crashing, Meta is returning to the crypto sphere this time with a measured and adoption-based approach. Rather than launching its own digital token, Meta is exploring stablecoins such as USDC and USDT to reward content creators on its platforms, including Facebook, Instagram, and
Tether CEO Paolo Ardoino has sparked major interest in the crypto world with a teaser for Tether AI, a decentralized artificial intelligence infrastructure. Designed to supercharge Bitcoin and USDT transaction volumes, this innovation could redefine how decentralized applications operate in the blockchain space. In a recent X (formerly Twitter) post,
The internet brought huge changes to our daily life, mainly in terms of communication and money transactions. Cross-border communication has transformed significantly after the development of social media applications. It didn’t take much time to eliminate international calling and messaging associated with high costs and delays. Today, no one recognizes
Leading crypto exchange Binance announced earlier today that it is going to delist several stablecoins. The major reason behind this update is the MiCA crypto regulation policy. Being the top crypto exchange by trading volume, this act will have a significant impact on the adoption of these stablecoins. As per
With DeFi under development and the sector spearheading regulatory reforms, members are quite content with the current action. However, the sector seems to lack the significant, mind-blowing instances it is usually known for. Within the regulatory realm, today’s focus is stablecoins. Fox reporter Eleanor Terrett shared a discussion draft from
The Stablecoin market cap leapfrogged the $211 billion mark amid USDC’s positive momentum. As per the recent report by Alphractal, a data analysis platform, the stablecoin market has witnessed tremendous growth since 2023 which was driven by USDT (Tether). According to a report, the stablecoin market surged by 73% from
The U.S. Financial Services Oversight Council has issued a stark warning in its 2024 annual report. Which is emphasizing the potential risks that stablecoins pose to the financial system’s stability. FSOC Warns of Stablecoin Risks The FSOC’s report, published on December 6. Which highlighted that stablecoins remain “acutely vulnerable to
Central Bank of Brazil Proposes Restrictions Brazil’s Central Bank (BCB) has proposed new rules that could change how people use stablecoins. The proposal suggests banning centralized crypto exchanges from letting users withdraw stablecoins, like Tether (USDT), to self-custody wallets. Users store their digital assets in these wallets instead of relying
