MakerDAO votes to keep USDC as primary collateral, rejects ‘diversification’ plan
The passed measure ends the 1% USDC to DAI minting fee that was previously implemented. Go to Source Powered by WPeMatico
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USDT issuer Tether has up to $1.7B in excess reserves, CTO says
Tether CTO Paolo Ardoino believes that USDT is becoming the “safest asset to hold in the world” amid the banking crisis. Go to Source Powered by WPeMatico
Xapo Bank to enable USDC deposits and withdrawals
According to the Bitcoin custodian, utilizing the USDC stablecoin will allow members to deposit and withdraw funds without fees. Go to Source Powered by WPeMatico
Adopting CBDC could destabilize banks, help households, US Treasury study says
When integrated into the economy, a CBDC or stablecoin would compete with bank deposits to the public benefit, at least until a financial crisis. Go to Source Powered by WPeMatico
Mastercard to settle transactions for stablecoin wallet in APAC
Mastercard has entered a collaboration that would allow retail customers in the APAC region to spend their stablecoins anywhere Mastercard is accepted. Go to Source Powered by WPeMatico
USDC depeg will hinder stablecoins’ growth, increase regulatory scrutiny: Moody’s
“Financial institutions may reconsider adopting stablecoins to settle agreements involving tokenized securities out of concern over the coins’ potential volatility,” Moody’s said. Go to Source Powered by WPeMatico
Crypto Biz: SVB collapses, USDC depegs, Bitcoin still up
Turmoil in traditional finance spilled over into Bitcoin and crypto markets, forcing federal regulators to step in. Go to Source Powered by WPeMatico
MakerDAO passes proposal for $750M increase in US Treasury investments
The emergency proposal increases MakerDAO’s holdings of United States bonds by 150%, aiming to diversify the Dai stablecoin’s collateral exposure. Go to Source Powered by WPeMatico
Swiss Bankers Association proposes deposit tokens to develop digital economy
The deposit token is a concept that came out of Singapore’s Project Guardian last year; it has already been touted by JPMorgan. Go to Source Powered by WPeMatico
KuCoin leads $10M funding for Chinese yuan stablecoin issuer
Circle’s investment arm has joined a funding round for CNHC, the issuer of the eponymous stablecoin pegged to the offshore yuan. Go to Source Powered by WPeMatico