Tag Archives: Stablecoins

Canadian joint venture has launched a new stablecoin pegged to the Canadian Dollar (CAD). Dubbed QCAD, users can trade it against Bitcoin, Ethereum, and USDC, and it’s supported by cryptocurrency custodians Balance and Bitvo.Canada’s First Stablecoin – QCADAnnounced earlier today, QCAD is built on top of the Ethereum blockchain, and it’s based on the ERC-20 standard. It will be backed by the Canadian Dollar, resembling most stablecoins pegged to a widely used fiat currency.QCAD is the first...

The Hong Kong-founded popular cryptocurrency exchange, Bitfinex, has recently launched the newest version of its mobile app, which comes with Bitcoin deposits utilizing the Lightning Network.The update for the mobile app comes less than two months since the exchange added support for the Lightning network to its web platform.The Lightning Network Comes On MobileInvented back in 2015, the Lightning Network intends to serve as Bitcoin’s off-chain scaling solution. Essentially, it allows people...

Stablecoins now have a larger share of value transferred on the Ethereum network than its native cryptocurrency – ETH.Even though the continuously increasing interest towards stablecoins appears as a concern to some, Changpeng Zhao believes that they are still needed for mass adoption.Stablecoins’ Flip On The Ethereum NetworkYesterday, new research by Messari, found out that ETH is no longer carrying the most substantial transfer value on the Ethereum network as stablecoins have surpassed...

Tether, the issuer of the popular stablecoin USDT, has now launched a new type of commodity-backed token pegged to gold. At the time of this writing, the new token will be issued on the networks of Ethereum and Tron.Tether Launches Tether Gold (XAUt)According to a recent announcement, Tether, the company behind the most widely used stablecoin, USDT, has launched a new digital asset. Ticked XAUt, the token represents one troy fine ounce of gold on a London Good Delivery bar.Holders will be...

While several countries and entities are starting to consider launching their own central bank digital currencies (CBDC), Australia might be on the opposite side. The nation’s Reserve bank seems to think that there’s no current need for such a product among customers, as the payment system now is stable enough.No CBDC in AustraliaThe Reserve Bank of Australia (RBA) has been exploring the potential need of a “digital Australian dollar,” but it has concluded that there’s currently no need for...

The European Central Bank is considering the launch of its own CBDC, according to the bank’s President – Christine Lagarde. She indicates in a recent interview that they need to adjust to this changing world and that the bank will not interfere with any private companies in coming up with a similar digital form of payment.ECB’s Plans For Its Own CBDCThe President of the European Central Bank, Christine Lagarde, recently had an interview where she spoke about numerous financial topics,...

The slightly negative attention from institutions towards Facebook’s Libra continues with the German Central Bank’s President Jens Weidmann, saying that they have to slow it down with further regulations. He also notes that banks must improve their payment systems and the E.U. should be more considerate regarding launching e-euro.Weidmann On Digital EuroEver since Facebook announced its plans to create a stablecoin, dubbed Libra, the world has turned its attention towards this sort of digital...

The Bank of Korea (BOK) is taking another important step towards adopting the trend for central bank digital currencies (CBDCs). The bank will reportedly organize a dedicated task force to build on top of the existing CBDC research and to improve it further.Bank Of Korea’s CBDC Task ForceA local report from today shows BOK’s intentions for developing more CBDC-orientated research groups. As included in the bank’s “Monetary Policy for 2020,” the research will target innovations, such as...

State-backed stablecoins appear to be on the rise in the last several months, and Russia is taking the next step into launching its own. The country’s central bank has reportedly started testing digital currencies backed by real assets in a regulatory sandbox.Russia Tests Digital AssetsThe head of the Central Bank of Russia, Elvira Nabiullina, recently spoke about the bank’s plans and actions towards digital assets. She indicates that they have started testing a digital currency in a...

Libra’s announcement earlier this year brought a lot of mixed reactions, but it also attracted a lot of attention towards the field, causing other teams to think in this direction. One of these is Saga Monetary Technologies’ token dubbed SGA, which will be launched on December 10th. SGA token will be pegged to the Special Drawing Right monetary reserve.A New Type Of StablecoinSaga Monetary Technologies announced the creation of SGA – a new type of stablecoin. It will start trading on December...