Stablecoins

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USD stablecoin premiums surge in Argentina following economy minister’s resignation

Argentine citizens have flocked to U.S. dollar-pegged stablecoins including USDT over the weekend amid a shaky economic outlook for the country.

cointelegraph.com

Argentina has been in a long-standing battle against rising inflation and a continued decline of the peso against the U.S. dollar.

 

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3. Bitcoin will become a unit of account on par with the U.S. dollar or Euro​

Money has three main roles — acting as a means of payment, as a store of value and as a unit of account. Many cryptocurrencies, primarily stablecoins, are used as a means of payment. Bitcoin (BTC) and — to a much lesser extent — Ether (ETH) are used as stores of value among cryptocurrencies. But the United States dollar remains the main unit of account in the world. Everything is valued in dollars, including Bitcoin.

The real victory for sound money will be heralded when cryptocurrencies take over the role of a unit of account. Bitcoin is currently the main candidate for this role. Such a victory will signify a major mental shift.

What will cryptocurrency market look like in 2027? Here are 5 predictions

Here are five predictions for how the cryptocurrency landscape could change over the next several years.

cointelegraph.com

 

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Stablecoin issuers hold more US debt than Berkshire Hathaway: Report

Stablecoin providers like Tether and Circle accumulated a large share in the Treasury market, beating major players like Berkshire Hathaway.

cointelegraph.com

 

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US Fed vice chair Michael Barr favors hard line on crypto, OCC acting head no friendlier

Two U.S. officials spoke at separate venues Wednesday but made similar points about the need they see to “protect” the banking industry and consumers from the supposed dangers of crypto.

cointelegraph.com

“I believe Congress should work expeditiously to pass much-needed legislation to bring stablecoins, particularly those designed to serve as a means of payment, inside the prudential regulatory perimeter.”

 

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Binance: No plans to auto-convert Tether, though that ‘may change’

After announcing it would be ceasing trading support for USDC and two other stablecoins, crypto exchange Binance confirmed there are no plans to do the same for USDT.

cointelegraph.com

On Tuesday, the crypto exchange surprised the market with the announcement it will cease trading support for United States dollar-pegged stablecoin USD Coin (USDC) on its platform, along with USDP Stablecoin (USDP) and TrueUSD (TUSD).

 

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Pendulum aims to become a critical piece of Web3 infrastructure bridging fiat services with Polkadot and all of DeFi. Therefore, Polkadot stands to benefit from more integrations and railroads connecting it with multiple traditional finance and blockchain communities, like the Stellar<->Pendulum Spacewalk bridge for example. Compliant stable tokens can bring deep forex liquidity to the Polkadot ecosystem.

 

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USDC.com | The home of USDC, by the issuer of USDC

Get access to USDC, a digital dollar that can be redeemed 1:1 for US dollars. Use USDC for crypto trading, cross border payments, global dollar savings accounts, remittances and more. USDC is issued by Circle.

www.centre.io

Financially transparent​

Centre stablecoins are issued by regulated and licensed financial institutions that maintain full reserves of the equivalent fiat currency. Issuers are required to regularly report their USD reserve holdings, and Grant Thornton LLP issues reports on those holdings every month.

 

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Crypto.com CEO addresses whereabouts of $1B in stablecoins sent to FTX

CEO Kris Marszalek also explained that the firm's SHIB reserves are customer deposits.

cointelegraph.com

"Over a year, $1B was moved to FTX and we recovered all of this. We only had exposure of under $10 million when FTX shut down. And FTX was a trading venue where this is one of the few trading venues with decent liquidity for some of the coins like the ones I mentioned earlier."

 

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Stablecoin framework is a near-term priority for Aussie regulators

The Council of Financial Regulators of Australia (CFR) is working on incorporating payment stablecoins into the regulatory framework for stored-value facilities.

cointelegraph.com

The authors highlighted the particular fragility of algorithmic stablecoins, whose stability depends on investors’ confidence in the value of an unbacked crypto-asset, and cited the example of Terra collapse.

 

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Amplitude (Hiring!)

@amplitude_chain

Pioneering the internet of fiat. Sister network of
@Pendulum_chain
on Kusama. Developed by
@SatoshiPay

https://twitter.com/amplitude_chain/with_replies

 

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Blockchain and regulated stablecoins to be widely used by 2030, industry execs say

Industry executives have predicted the wide use of regulated stablecoins by 2030, despite current TradFi and DeFi competition.

cointelegraph.com

Concerning the wide acceptance of regulated stablecoins by 2030, Kelvin Lester Lee, commissioner of the Securities Exchange Commission of the Philippines, said he isn’t sure whether regulated digital assets would be thriving by then. However, they would still be present and might also look different.

 

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Stablecoin exodus: Why are investors fleeing crypto’s safe haven?

The drop in the market capitalization of the stablecoin sector could significantly influence the broader cryptocurrency market.

cointelegraph.com

 

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Ripple to Launch Stablecoin Pegged to the US Dollar

Ripple has announced it will launch a stablecoin pegged to the US Dollar that is expected to arrive later this year.

watcher.guru