ADA-backed algorithmic stablecoin Djed launched on Cardano
The algo-stablecoin Djed from DeFi service provider COTI deployed on the Cardano mainnet after its successful security audit. Go to Source Powered by WPeMatico
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Hong Kong will not tolerate algorithmic stablecoins in new regulation
The new regulatory regime for stablecoins in Hong Kong should arrive no later than 2024. Go to Source Powered by WPeMatico
Montenegro’s central bank teams up with Ripple on digital currency pilot project
Montenegro’s prime minister announced a central bank “digital currency or stablecoin” project with Ripple; the Balkan country currently uses the euro instead of a national currency. Go to Source Powered by WPeMatico
Stablecoin Economy Sheds Another $3 Billion in 44 Days
The stablecoin economy continues to deplete as more than $3 billion has been erased from the stablecoin market ecosystem over the last 44 days. While statistics show that tether’s market valuation has risen by 2% over the last 30 days, usd coin’s market cap slid by 2.9%, BUSD valuation shed 7.2% over the last month … Read more
Fed policy to align bank oversight could limit crypto activities by state banks
The new policy would align the allowable activities for insured and uninsured state banks and OCC-supervised national banks by making rules for state banks more restrictive. Go to Source Powered by WPeMatico
Russia Mulls Gold-backed Stablecoin, Lawmaker Confirms After Iran Visit
Russia may issue a stablecoin backed by gold to use in international settlements, a high-ranking member of the Russian parliament has admitted. The matter has been discussed during a recent visit to Iran where officials have also signaled interest in such an initiative. Iran and Russia Talk Stablecoin Payments for Bilateral Trade Settlements The Russian … Read more
Moody’s to build scoring system for stablecoins: Report
Moody’s is allegedly developing a scoring system for stablecoins, with analysis of up to 20 digital assets. Go to Source Powered by WPeMatico
Binance stablecoin BUSD sees a sharp market cap drop amid solvency and mismanagement worries
Persistent worries about Binance’s solvency, increased regulation of the crypto sector and questionable use cases are chipping away at BUSD’s market capitalization. Go to Source Powered by WPeMatico
Algorithmic stablecoin market share dropped by 10x from ATH: Report
The stablecoin market in general is going through hard times, though it’s the algorithmic coins that suffered the most. Go to Source Powered by WPeMatico
Stablecoin data points to ‘healthy appetite’ from bulls and possible Bitcoin rally to $25K
Bitcoin price continues to press higher this week as demand for stablecoins and a key BTC price metric suggests bulls have a “healthy appetite.” Go to Source Powered by WPeMatico