The United Kingdom government hopes to bring new legislation regulating stablecoins and cryptocurrency staking services within six months.https://zycrypto.com/uk-is-pushing-hard-to-have-stablecoin-and-staking-rules-ready-within-next-six-months-report/
Startup accelerator Y Combinator has included stablecoins as a separate category for funding requests.https://crypto.news/y-combinator-lists-stablecoins-as-perspective-startup-for-funding/
Federal Reserve Chairman Jerome Powell has called on Congress to develop a legislative framework for stablecoins. Addressing House Democrats in a closed-door meeting with the House Financial Services Committee, Powell highlighted the urgent need for stablecoins regulations, signaling the Federal Reserve's proactive stance.https://coingape.com/jerome-powell-urges-congress-to-create-stablecoin-regulations/
Stablecoins need more regulation. Stablecoins might, in some cases, cause runs.https://www.pymnts.com/cryptocurrency/2024/will-specter-of-public-runs-and-more-regulation-blunt-stablecoins-use-in-commerce/?utm_source=snapi
The Polish town of Mińsk Mazowiecki is launching a stablecoin that users can spend at local businesses. The so-called MinsCoin debuted alongside UrbanChange, a platform that launches USDC-backed stablecoins meant for local use in cities.https://blockworks.co/news/polish-city-adopts-stablecoin
In a significant development in the United Kingdom's approach to crypto-asset regulation, the Bank of England (BOE) has announced an extension of the comment period for its discussion paper on stablecoin regulation. Initially set for February 6, the deadline has now been moved to the morning of February 12, allowing stakeholders additional time to providehttps://coingape.com/uk-delays-boe-stablecoin-feedback-deadline-to-feb-12/
Circle CEO Jeremy Allaire in Davos speaks with CoinDesk's Chief Content Officer Michael Casey at the annual World Economic Forum in Davos to discuss his crypto journey, the outlook for the stablecoin markets, and the path forward for crypto regulatory clarity.https://www.youtube.com/watch?v=OQ4n2TJo4Vs
At 10:00 UTC, May 17, 2023, the USD Coin contract distributed the USDC Gift token to every eligible crypto holder of any token on the Ethereum mainnet network and Binance smart chain network.
this is a Paid Promotional post
Bitfinex is the first exchange to trade the token.
Stablecoin giant Tether Ltd. has just launched a gold-backed cryptocurrency, which is price-pegged to the precious metal. The news was announced in a Jan. 23 web post.
Each token of Tether Gold, or XAUT, is physically backed by one troy fine ounce of gold. Currently, there are 3990.225 XAUT in circulation, meaning that the market cap of the new cryptocurrency is approximately $6.3 million.
Though exchanges must buy at least 50 XAUT ($78,500) worth of Tether Gold, general investors can buy small fractions of the token through an exchange.
Bitfinex, Tether’s sister company, has become the first exchange to add Tether Gold to its listings. XAUT is currently trading on the exchange at roughly $1,570.
"Bitcoin is still the king of cryptocurrencies. Despite the launch of numerous altcoins and stablecoins, the bitcoin dominance index is still holding strong at 67%+ according to Coinmarketcap data."
As I recall during the 2017 Hype, Bitcoin dominance went down to 45% which is significant.
We can only expect that his royal dominance to drop in the future to come. It's only logical with all new coins coming into play.
Tho I doubt anyone will dethrone BTC anytime soon.
Stablecoins continue to become more widely used in the cryptocurrency market in 2020. But what exactly is a stablecoin?
The main objective of a stablecoin is to solve the problem of volatility by being a digital asset that is linked to another asset with a stable value, for example fiat.
2020 could to be an exciting year for stablecoins as interest among financial institutions accelerates. Companies with huge financial are seriously considering plans to launch a regulated stablecoin.
Similarly, government financial institutions claiming they will investigate or discuss stablecoin as a potential solution of digitalisation.
This may integrate the big private and governmental financial groups to the crypto market, by decreasing the risks of volatility.
Do you believe that 2020 is a year of stablecoins?
Together with the Dutch technology provider Quantoz, Bank Frick is launching a StableCoin as a Service (SCaaS) solution. Audit partner is with BDO one of the leading auditors in Switzerland. SCaaS is fully PSD2-compliant and enables its issuers to issue their own stablecoin and to integrate it easily into their existing systems. As a result, the issuer's merchants and end customers benefit from a secure and stable token-based payment ecosystem.
Balzers (LI) – Bank Frick is now offering intermediaries and enterprises an innovative SCaaS solution, which was developed with the help of the expertise of the Dutch Quantoz N.V. The offer is a Software as a service solution based on Quantoz' established NEXUS technology. It enables issuers to issue their own stablecoin in a closed ecosystem.
"Our SCaaS solution is particularly suitable for issuers who process large volumes of payments on a daily basis, such as merchants and their end customers," says Julien Hawle, Head Blockchain Lab at Bank Frick. "With our SCaaS solution, the participants in such an ecosystem benefit from lower transaction costs and fees as well as a ready-made setup that can be seamlessly integrated without the need for technical expertise.
The market cap for stablecoins was just a little above $5 billion in January, it then hit the key milestone of $10 billion in May and has now topped $11 billion mark... Read today's CryptoCoffee:
This is an update about the digital dollar project. Unfortunately, the passion with which the project held sway couldn't sustain it.
I waited for several months in anticipation of hearing good news about the project all to no avail, thus can be declared dead.
I am willing to re-update if there is positive development in the future.
In the second episode of Three Crypto Questions we chat with Nate Maddrey, Senior Research Analyst at Coin Metrics, about the new report from Bitstamp and Coin Metrics titled The Rise of Stablecoins. The interview touches on how the March 12th crash impacted the stablecoin market, why Tether's growth is outpacing other stablecoins, regulatory issues facing Tether and the key drivers behind the increased global stablecoin demand.