Search Results for "stablecoins"
Stablecoins Could Bolster U.S. Dollar and Economic Competitiveness: Circle CEO
In a compelling testimony delivered to the House Financial Services Committee, Jeremy Allaire, CEO and Co-Founder of Circle, underlined the significant role stablecoins, such as the U.S. Dollar Coin (USDC), could play in strengthening the global position of the U.S. dollar.
FedNow's 1,300-Bank Rail vs $224 B Stablecoins: Is a Dual-Dollar Payment System Next for the U.S.?
The U.S. is set for a "dual-rail dollar" system, with FedNow providing instant bank payments and stablecoins like USDC and PYUSD gaining traction. As legislation advances, these two dollar rails could coexist, enhancing payment options while regulators ensure interoperability and security. By 2026, consumers might seamlessly use both systems for everyday transactions.
US Draft Bill Proposes Framework for Stablecoins
A new draft bill has been published in the United States proposing a regulatory framework for stablecoins. The bill would put the Federal Reserve in charge of non-bank stablecoin issuers, such as Tether and Circle. Insured depository institutions seeking to issue stablecoins would fall under federal banking agency supervision. The bill also includes a ban on issuing stablecoins not backed by tangible assets and proposes a study on "endogenously collateralized stablecoins."
Do Kwon Suggests Terra Hard Fork to Revive Troubled Network
Do Kwon, the CEO of Terraform Labs, believes hard forking the Terra blockchain will play an instrumental role in saving the troubled network.
Banks increase risks to stablecoins
The death of the Terra ecosystem triggered a bear market in 2022, causing losses in billions, affecting investor sentiment, and intensifying the regulatory spotlight over cryptocurrencies. Recently, Circle's disclosure that Silicon Valley Bank (SVB) did not process its $3.3 billion withdrawal request led to the depegging of its USD Coin (USDC). This event caused Binance CEO CZ to believe that traditional banks are a risk to stablecoins that are usually pegged 1:1 with fiat currencies, like the U.S. dollar.
5 Ways The Crypto Market Has Changed In 2020
The cryptocurrency market is constantly evolving. Among new investment methods, new technologies, and new cryptocurrencies altogether, these are some of the most prominent developments in 2020.
Yearn.finance Takes Pickle Finance Protocol Onboard to Enhance DeFi Rewards
Leading DeFi protocol Yearn.finance has absorbed Pickle Finance to create a structure that will leverage shared expertise, boost specialization, and minimize work duplication.
US House Committee to Discuss Stablecoin Regulation
The US House of Representatives Committee on Financial Services will conduct a hearing on stablecoin regulation on April 19th, following the introduction of a draft bill on stablecoin regulation. The hearing will include testimonies from experts, including Austin Campbell, a managing partner at Zero Knowledge Consulting and adjunct professor at Columbia Business School, who believes stablecoins will expand the reach of the US dollar and increase financial inclusion.
Paxos Identifies Key Opportunities During Crypto Winter
Blockchain infrastructure provider Paxos has published a report identifying opportunities for crypto projects during the current market conditions, including seeking solutions and partnerships. The report highlights the usefulness of stablecoins while acknowledging the need for greater transparency. Partnerships with businesses addressing real-world needs were also deemed important. The CEO of the Stellar Development Foundation suggested that regulating stablecoins may be necessary to maintain a strong dollar, while a recent Bank of International Settlements report deemed stablecoins a less preferable form of tokenized money.
Circle's New APIs Simplify Complex Crypto Concepts For Mass Institutional Adoption
Circle Builds Layers of Simplicity over Complex Crypto Concepts for Business to Trigger Digital Adoption
Will Terra’s UST and LUNA Crash Cause a Shift to ‘Cryptos that have Stood the Test of Time’?
LUNA has left crypto enthusiasts' mouths agape because they could never imagine in their wildest dreams that one of the top ten cryptocurrencies could collapse to near-zero overnight.
Stablecoins and their role in the crypto space
Stablecoins play an important role in the world of crypto. Read the article to learn more about the origins of stablecoins, their pros, cons, and prospects.