Tether reserve attestations to be conducted by major European accounting firm
BDO Italia, a member of the BDO Global accounting organization, will begin producing monthly attestations of Tether’s USDT backing. Go to Source Powered by WPeMatico
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Another depeg — Acala trace report reveals 3B aUSD erroneously minted
As the dust settles on another decentralized finance exploit, Acala continues to trace tokens that were erroneously minted after a misconfiguration in a newly launched liquidity pool. Go to Source Powered by WPeMatico
Optimism fading? Regulatory discussion on stablecoins postponed until Fall
While there is no shortage of legislative initiatives to regulate stablecoins, the idea of the American CBDC remains problematic. Go to Source Powered by WPeMatico
Another Stablecoin Depegs From USD Parity, Polkadot-Based AUSD Loses 98% in Value
2022 has been the year of broken stablecoins as a myriad of dollar-pegged crypto assets depegged from their dollar value this year. On August 14, the Polkadot-based stablecoin alpaca usd (AUSD) dropped below a U.S. penny in value, only to bounce back to the $0.95 region hours later. Reports say that the Acala protocol was … Read more
Built to fall? As the CBDC sun rises, stablecoins may catch a shadow
Will central banks allow stablecoins to survive? Maybe as a financial instrument for the unbanked or they will be able to peacefully co-exist? Go to Source Powered by WPeMatico
Brazilian payment app PicPay launches crypto exchange with Paxos
The integration with Paxos marks the first move for PicPay to introduce its 30 million customers to digital assets and help them understand Bitcoin. Go to Source Powered by WPeMatico
Picpay Rolls Out Crypto Trading Options to More Than 30 Million Users in Brazil
Picpay, a payments and wallet app, is now providing cryptocurrency services to more than 30 million users in Brazil. The company, that had announced this rollout last month, now allows its customers to purchase, hold, and sell digital assets from its platform. The organization partnered with Paxos, the issuer of the pax dollars stablecoin, in … Read more
Bitpay Reveals Prepaid Cardholders Can Get up to 15% Cash Back Rewards via Select Retailers
The Atlanta-based crypto payment services company Bitpay has announced that Bitpay’s prepaid cardholders are eligible for cash back rewards if they use their card with participating retailers. The rewards feature stems from Bitpay’s partnership with Cardlytics and cardholders can get up to 15% in cash back rewards on purchases from the service from thousands of … Read more
Vitalik: Centralized USDC could decide the future of contentious ETH hard forks
Speaking at the BUIDL Asia event in Korea, Vitalik Buterin said that centralized stablecoins like USDC & USDT will become significant deciders in future hard forks. Go to Source Powered by WPeMatico
Fintech Firm Galoy Raises $4 Million, Startup Introduces Bitcoin-Backed Synthetic Dollar Product
On Wednesday, Galoy, the firm behind El Salvador’s Bitcoin Beach Wallet, announced that the company raised $4 million in funding in an investment round led by Hivemind Ventures. On the same day, the startup launched a new product called Stablesats, a stablecoin concept that leverages derivatives contracts to create a bitcoin-backed synthetic dollar pegged to … Read more