News list for "stablecoins"
Mansa, a Dubai-based but Africa-focused stablecoin liquidity provider, announced the completion of a $10 million seed round led by Tether, which will support the company's expansion into Latin America and South East Asia, where liquidity challenges have also limited cross-border transactions.
Federal Reserve Governor Paul Waller said he believes stablecoin regulations will be passed quickly.
Federal Reserve Chairperson Jerome Powell expressed support for a regulatory framework around stablecoins. Overall, bank accounts are safe. The Federal Deposit Insurance Corporation still provides deposit insurance, and the banking system is well capitalized and safe.
On January 18, according to on-chain data, 33 minutes ago, dollar stablecoin issuer Circle issued 250 million additional USDC on the Solana chain.
Former Thai Prime Minister Thaksin Shinawatra has said there is "no risk" in allowing the trading of stablecoins and other tangible asset-backed tokens and urged regulators to legalize online gambling to increase revenue, Cointelegraph reported. He noted that the Thai government is currently losing around $4 billion (100 billion baht) in online gambling tax revenue annually. The Thai Cabinet has approved a draft Law on the Operation of Entertainment Complexes, which aims to legalize casinos and ...
Matrixport released today's chart report, stablecoin 7 mint data shows that the flow of fiat currencies into the crypto market slowed significantly before the Christmas holiday, which may be related to the Federal Reserve's hawkish policy shift in mid-December. Bitcoin and other cryptocurrencies are likely to continue to consolidate as the active level of fiat deposits into stablecoins continues to slump. While the holiday lull is over, stablecoin inflows have yet to show a significant...
Stablecoin issuer Tether invested $2 million in Arcanum Capital's Arcanum Emerging Technologies Fund II, a tokenized investment vehicle specializing in decentralized Web3 projects. James McDowall, managing partner of Arcanum Capital, said the fund invests in blockchain technology to enhance remittances, cross-border transfers, privacy and provide banking services to the unbanked. Paolo Ardoino, CEO of Tether, said that anti-censorship and promoting open communication are the main priorities for ...
The use of stablecoins has also increased as Brazilian citizens increasingly buy stablecoins pegged to the US dollar to hedge against a plunge in their currency, the real. Brazil's central bank is expected to complete public consultations on a potential ban in February, with several executives already assessing the potential impact on local markets. Carol Sosa, co-founder of the Regional Bitcoin School, pointed out that crypto exchanges in Brazil have been implementing KYC measures since 2019, w...
As of December 1, 2024, the stablecoin market cap reached $193 billion, an increase of 48% over the previous year. Forecasts suggest that stablecoins could surge to $3 trillion by 2030. Additionally, stablecoins drive utility by enabling faster, more affordable payments and benefit users ranging from small businesses to large enterprises.
Citibank said in its latest report that stablecoins not only have the potential to solidify the dominance of the U.S. dollar, but also challenge the claim that bitcoin will one day end its dominance. "Initially, cryptocurrencies such as Bitcoin were seen as competitors to central bank-issued currencies. In fact, some believed - and still believe - that Bitcoin could end the hegemony of the US dollar. However, USDT is challenging that claim....
According to DefiLlama data, the total market value of stablecoins has declined by 28.53% in the past week, and it is now reported at $137.727 billion. Among them, the total market value of USDT has decreased by 42.04%, and it is now reported at $77.868 billion, accounting for 56.54%.
At a recent industry roundtable, industry insiders expressed their views on the current state of stablecoins and their future direction. Among them: Vishal Gupta, founder of True Exchange and former USDC head of Circle, said: "With the large-scale adoption of stablecoins happening, we will see a more fragmented market and a proliferation of stablecoins." Kevin Tharayil, special project owner of the Celo Foundation, pointed out that the infrastructure is now...
According to a report by Standard Chartered, stablecoins are moving from their initial use in cryptocurrency exchanges to wider use in global finance, with research indicating that stablecoins are increasingly being used for purposes similar to traditional finance, such as dollar saving and trading and facilitating cross-border transfers. The report also notes that the stablecoin market cap is currently $163 billion, which is small compared to overall financial marekt, but still has significant ...
According to a report published by CCData on November 27, stablecoin trading volume rose sharply by 77.5% this month, reaching $1.81 trillion as of November 25. This increase is expected to bring the monthly trading volume of centralized exchanges to a new high for the year. Continuing a 14-month upward trend, the total stablecoin market cap rose 9.94% to $190 billion in November, surpassing the all-time high of $188 billion set in April 2022 before the TerraUSD crash, the report said. Despite t...
According to the Federal Reserve, stablecoin assets have grown substantially since the April report. US debt sustainability poses a top financial stability risk. Hedge fund leverage is at or near its highest level since 2013.
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