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Depegging of USDC and DAI Saves Borrowers $100 Million
The depegging of USD Coin (USDC) and Dai (DAI) from the US dollar resulted in more than $2 billion in loan repayments on decentralized lending protocols Aave and Compound, with borrowers saving a total of over $100 million. USDC and DAI started heading back toward their peg, and repayment activity tapered off in the following days.
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Reap Leverages Fireblocks to Enable Crypto Repayments with the Reap Card
Reap, the global fintech company powering expense management through the industry first Reap Visa Corporate Card (“Reap Card”) platform, launches industry-leading innovation by including cryptocurrency repayments functionality for the Web3 industry. Together with the Reap Card, Reap is offering expense management software that will enable web3 companies to settle their fiat payments with cryptocurrencies.