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
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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
National Australia Bank made first-ever cross-border stablecoin transaction
The “big four” Australian bank is the second to issue a stablecoin and hopes to support transactions by corporate clients by the end of the year. Go to Source Powered by WPeMatico
Silvergate, SBV collapse ‘definitely good’ for Bitcoin, Trezor exec says
While Signature’s Barney Frank referred to the recent events with SVB as an “anti-crypto message,” Trezor’s Josef Tetek says they are “definitely good” for Bitcoin. Go to Source Powered by WPeMatico
Recent contagion was ‘TradFi to crypto’ and not vice versa — Circle policy director
“What happened over the last several days was a bit of an ironic black swan situation where the contagion was not from crypto to TradFi,” said Caroline Hill. Go to Source Powered by WPeMatico
Circle Partners With Cross River Bank, Handful of US ‘Crypto-Friendly’ Banks Remain; Okcoin Suspends USD Deposits
Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1 redeemability of all USDC in circulation is of paramount importance to Circle,” Allaire emphasized. Crypto Firms Scramble for … Read more