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It’s been approximately 38 days since Makerdao, the decentralized finance (defi) project, rebranded as Sky and launched both the USDS stablecoin and the SKY token. During this time, more than a billion USDS coins have been minted, and 530 million DAI have been converted to the new standard. Makerdao Sees 530 Million DAI Upgraded Since … Read more
From January to September 2024, the total supply of stablecoins expanded significantly, increasing by 32.4%. Ethereum, which remains a key player in the space, saw its own stablecoin supply rise by 25.5%, amounting to $17.2 billion. Despite this growth, Ethereum’s dominance in the stablecoin market dropped slightly, from 51.9% to 49.1%, as the overall sector … Read more
BBVA, one of Spain’s largest financial institutions, has announced plans to launch its stablecoin product by 2025. The organization is currently in the sandbox stages and will be developed in partnership with credit giant Visa as part of one of the first projects using its services to launch stablecoins. BBVA Plans to Launch Stablecoin in … Read more
With dozens of layer-1 blockchains on the market, communication between networks has become a significant pain point for the broader adoption of Web3-based applications. Go to Source
While focusing on developing countries, Tether is doing its best to maintain a good relationship with the United States, Paolo Ardoino told Cointelegraph. Go to Source
PayPal deepens its push into PYUSD for business transactions, making its first payment using the stablecoin. Go to Source
Mark Carnegie’s MHC Digital Group is partnering with Circle Internet Financial to expand the distribution of the stablecoin USD Coin (USDC) to institutional investors in Australia and the broader Asia-Pacific (APAC) region. This strategic collaboration aims to help superannuation funds and high-net-worth individuals avoid significant bank fees by leveraging USDC, which has a market capitalization … Read more
Australian pension funds can expect a pitch soon for saving money on fees with a stablecoin. Go to Source
Japan is reportedly set to review its cryptocurrency regulations, potentially reducing taxes on digital assets. The Financial Services Agency (FSA) plans to assess whether current crypto regulations under the payments act provide sufficient investor protection. The review may lead to reclassifying crypto as financial instruments under Japan’s investment law, which could enhance safeguards and bring … Read more
The Canadian Securities Administrators (CSA) have announced an updated regulatory framework for stablecoins, also known as value-referenced crypto assets (VRCAs), with a new compliance deadline set for December 31, 2024. The updated regulations emphasize transparency and investor protection, requiring stablecoin issuers to maintain appropriate reserves with qualified custodians and to publicly disclose information about their … Read more