Paxos to issue USD stablecoin in Singapore, wins initial approval
The USD-backed token will comply with Singapore’s upcoming stablecoin laws and be issued through a new local Paxos entity that’s received initial approval. Go to Source
Stablecoin
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Tether credits USDT growth surge to ETF excitement, emerging markets
Tether USDT added at least $20 billion to its market capitalization in 2023, while rival stablecoin USDC lost the same amount so far this year. Go to Source
Stablecoin firm Tether minted 4B USDT in 4 weeks: Data
Tether has minted 4 billion USDT over the past month, which accounts for nearly 18% of all USDT issued so far in 2023. Go to Source
Progmat stablecoin platform takes shape as wallet, liquidity providers join
Progmat Coin hopes to issue yen- and dollar-pegged “trust-type” stablecoins next summer to accommodate around-the-clock settlement. Go to Source
EU banking watchdog proposes liquidity rules for stablecoin issuers
The proposed guidelines are currently in the public consultation phase for the next three months, and if approved, it will come into effect starting in June 2024. Go to Source
Moody’s unveils service that uses AI to predict stablecoin depeggings
Moody’s Analytics will use machine learning and a host of indicators to compile and analyze large-cap stablecoins and identify probable depeggings. Go to Source
UK stablecoin regulation begins to take shape in multiple FCA, BOE documents
It’s not expected to come into force until 2025, but new publications from the FCA and BOE shed light on regulators’ thinking. Go to Source
Tether issues $610M debt financing to Bitcoin miner Northern Data
In September 2023, Tether also invested an undisclosed amount in Northern Data in a move backing AI initiatives. Go to Source
Bitcoin crash pre-halving? Stablecoin metric that marked 2019 top flashes warning
Two key BTC supply metrics show conflicting signals on whether a retracement will occur before the Bitcoin halving. Go to Source
Circle to phase out consumer accounts, but business and Mint will remain
Stablecoin issuer Circle sent emails to customers stating that individual consumer accounts would be phased out. Go to Source