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Cryptocurrency groups and industry executives are urging the Bank of England to abandon proposed ownership caps on systemic stablecoins, £10,000–£20,000 (about $13.5K to $27K) for individuals and £10 million (about 1.35M) for businesses, arguing the limits would put the UK at a competitive disadvantage versus the US and EU and be costly or infeasible to … Read more
According to the latest stablecoin figures from defillama.com, the market is edging closer to the $290 billion threshold, with a current valuation of $289.40 billion. From Tether to Paypal: Stablecoins Battle for Billions This week’s snapshot of fiat-pegged tokens via defillama.com shows the sector expanded by $2.733 billion in seven days. Tether’s share has slipped, … Read more
Tether plans a new chapter in dollar-linked tokens, unveiling USAT—a planned U.S.-regulated, dollar-backed stablecoin—and naming Bo Hines as CEO-designate of Tether USAT. Tether’s Next Act: A U.S.-Regulated Dollar Token Called USAT Framed as a U.S. product from day one, USAT will target businesses and institutions that want a digital cash alternative governed by strict standards … Read more
Polymarket bettors are giving Native Markets a sky-high 94% shot at landing the prize: the rights to roll out the Hyperliquid network’s upcoming native USD stablecoin, which would trade under the ticker USDH. Hyperliquid Stablecoin Race Turns Lopsided as Native Markets Nears Lock-In In the past week, a handful of players have been jostling for … Read more
Haseeb Qureshi has criticized Hyperliquid’s USDH stablecoin request for proposal process, calling it a “farce” and alleging it was tailored to favor Native Markets. Allegations of a ‘Backroom Deal’ A top executive at the crypto venture fund Dragonfly has labeled Hyperliquid’s USDH stablecoin request for proposal (RFP) a “farce,” claiming the process was designed to … Read more
Ethena Labs has submitted a proposal to operate Hyperliquid’s native USDH stablecoin, outlining a structure that begins with full collateralization in USDtb and a governance-linked security model. Blackrock, Securitize Ties Featured in Ethena’s USDH Bid for Hyperliquid The latest bid from Ethena positions USDH as “Hyperliquid-first,” initially backed 100% by USDtb, a stablecoin whose reserves … Read more
As competition intensifies ahead of Hyperliquid’s Sept. 14 validator vote on its USDH stablecoin, Sky, Bastion, and Native Markets have submitted proposals to provide infrastructure, joining earlier bidders Frax Finance, Paxos, and Agora. Sky, Bastion, and Native Markets Enter Hyperliquid’s USDH Stablecoin Infrastructure Race Sky, formerly known as Makerdao, proposed a decentralized issuance model for … Read more
Hong Kong’s financial regulator has received expressions of interest from at least 77 institutions seeking a limited number of initial stablecoin licenses, as major global and regional banks move to secure market position. Industrial and Commercial Bank of China (ICBC) and its Hong Kong arm, ICBC (Asia), reportedly notified the regulator of their intent, joining … Read more
As part of a press briefing at the Eastern Economic Forum, Anton Kobyakov, an adviser on Putin’s policies, accused the U.S. of attempting to use stablecoins and gold to devalue its public debt and start anew, thereby rewriting the rules of the cryptocurrency system in the process. Putin’s Aide Claims U.S. Stablecoin Enthusiasm Is a … Read more
Vivopower’s EV subsidiary is slashing cross-border payment costs by adopting RLUSD stablecoin, unlocking instant settlements and boosting blockchain-driven growth across key developing markets. Vivopower Taps RLUSD for Instant, Low-Cost Transfers in Developing Markets Vivopower International Plc (NASDAQ: VVPR) announced on Sept. 8 that its electric vehicle subsidiary, Tembo e-LV, will begin accepting Ripple USD (RLUSD) … Read more