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The New Zealand Central Bank governor, Adrian Orr, recently branded stablecoins “the biggest misnomers” and “oxymorons.” Orr also rejected the notion that cryptocurrencies could serve as a replacement or supplement to central bank-issued money. Stablecoins Not a Viable Substitute for Money Despite their rise as an alternative to fiat currency in some regions, stablecoins are … Read more
Federal Reserve Chairman Jerome Powell has provided an update to Congress members regarding the Fed’s central bank digital currency (CBDC) work. “If we’re going to have a CBDC, Congress needs to authorize it,” he stressed. Moreover, the Fed chair reportedly said that a framework for stablecoins is needed. Fed Chair Powell on US CBDC and … Read more
Statistics reveal that since the onset of February 2024, the stablecoin sector has experienced a significant expansion, with an increase of $1.7 billion in its economy. In the last 30 days, both usd coin and first digital usd witnessed their supplies jump by 9.6% and 40.3%, respectively. The Dual-Edged Sword of Stablecoin Growth As the … Read more
Bitso, a Mexico-based cryptocurrency exchange with a presence in several countries of Latin America, has revealed the trends that its user base followed during 2023. Bitso Argentina CEO Julian Colombo disclosed that while Bitcoin was still the most popular cryptocurrency in the region, Argentines held over five times more stablecoins than the rest of Latam, … Read more
Bitwise isn’t alone in its bullishness on stablecoins with Circle CEO Jeremy Allaire predicting the explosive growth of the sector due to a “huge appetite” for digital dollars. Go to Source
“Not one of the stablecoins assessed in this paper has been able to maintain their closing prices in parity with their peg,” wrote the Bank for International Settlements. Go to Source
The umbrella organization for Canada’s securities regulators has set out conditions for the trading and issuance of stablecoins. Go to Source
The EURC stablecoin (formerly EUROC) is now available on Stellar in addition to Ethereum and Avalanche. Go to Source
Binance and Mitsubishi UFJ Trust and Banking Corporation (MUTB) are exploring the issuance of Yen and other foreign currency-denominated stablecoins in Japan. Go to Source
MakerDAO’s Rune Christensen says appropriate regulation will see stablecoins become mainstream, but the real opportunity is in decentralized stablecoins. Go to Source