Tag Archives: Stablecoins

Tether Operations Limited, the operator of Tether.io, has announced the launch of USDT on Polkadot’s canary network – Kusama. The company said the move will enable developers to compose trustless applications across chains, communities, and networks. Tether on Kusama According to the press release shared with CryptoPotato, USDT will be deemed with the asset ID 1984 and utilized to power transactions on Kusama’s first parachain – Statemine at launch. The parachain enables the...

Die Welt der Kryptowerte erlebt gerade ihre kambrische Artenexplosion. In einem Big Bang entstehen aus den wenigen bekannten Arten urplötzlich Tausende oder Zehntausende neue. Doch während sich die Artenentwicklung im erdgeschichtlichen Kambrium über zehn Millionen Jahre erstreckte, geschieht es im Kryptoversum binnen Monaten. Eine Einordnung von Hartmut Giesen, Krypto-Experte der Hamburger Sutor Bank: Am 3. Januar 2009 betrat der Bitcoin die Bühne. Dieser erste blieb eine Weile der einzige...

Vor wenigen Jahren noch unbekannt, sind Kryptowährungen heute nicht mehr aus der Finanzwelt wegzudenken. Nachdem diese zunächst privat organisiert waren, wagen sich immer mehr Staaten an das Thema. Insbesondere Stablecoins der Zentralbanken sind hier interessant. Eine neue Studie des Beratungsunternehmens PwC nahm diese unter die Lupe. Die Schweiz landete dabei erstmals in den Top 10 bei den Wholesale CBDC. Die digitalen Währungen der Zentralbanken, die als Alternative oder Ergänzung zum...

Stablecoins are cryptocurrencies that usually peg 1:1 to fiat currencies like the US dollar. For every stablecoin in circulation, supposedly, there should be a $1 bill or its equivalents as redeemable in the reserves. The rising concern regarding the security of stablecoins has caught lawmakers’ attention. The US Lawmakers Ask for Transparency According to the release by Senator Hagerty’s office, the newly introduced bill would require stablecoins to be “backed by government...

Josh Gottheimer – a member of the Democratic Party – revealed an early draft of legislation regarding stablecoins. Many critics claim that such financial assets undermine the monetary network and are often used by bad actors in criminal activities. Enhanced Rules for Stablecoins Over the last couple of years, some stablecoins such as Tether and USD Coin have become some of the largest digital assets by market capitalization, utilized by countless traders. Those two have a...

Currently, DAI is the fifth-largest stablecoin by market capitalization. Tether (USDT) may have continued to be the market leader after all these years, but DAI has the perk of being open-source and decentralized – something that’s sought after in the DeF community. DAI Ascends According to Makerburn, the total supply of MakerDAO’s DAI, a decentralized stablecoin, has shot up to a whopping $10 billion on February 8th. Moreover, its supply from stablecoin collateral stands at...

The financial services company – Mitsubishi UFJ Trust – hopes to enhance its transaction system by utilizing blockchain technology for trading and a cryptocurrency for payments. As such, it will create a stablecoin tied to the value of the Japanese yen, claimed a new report. Mitsubishi’s Stablecoin According to a recent report by Nikkei Asia, Mitsubishi UFJ Trust – a Tokyo-headquartered bank with over $1.5 trillion in assets under management – is seeking to enter the world of...

The Acting Comptroller of the Currency of the United States, Michael J. Hsu, gave a speech on January 13, 2022, highlighting the advantages of regulating the cryptocurrency space-specifically stablecoins-as a way to provide peace of mind and security to those using this type of technology. Speaking at the BritishAmerican Business Transatlantic Finance Forum, Hsu argued that the growth of the cryptocurrency industry had been so swift that the regulatory indifference of...

Jerome Powell – chairman of the Federal Reserve – appears to have reversed one of his previous positions on the relationship between CBDCs and stablecoins. Testifying in front of the US congress, he suggested that both could co-exist, without the former replacing the latter. Allowing Stablecoins and CBDCs. Powell discussed the possibility of a Federal Reserve issued CBDC during his renomination hearing on Tuesday. Republican Senator Pat Toomey – a known crypto advocate –...

If the market crash got you nervous and you thought the crypto industry was dead, you might want to change your mind. PayPal, the global e-payments giant, is working on developing its own cryptocurrency. PayPal is exploring the development of a stablecoin, possibly pegged to the U.S. dollar, although there is no information on a roadmap for the project. Speaking to Bloomberg News, Jose Fernandez da Ponte, senior vice president of crypto and digital currencies at PayPal,...