USDC

Paxos Standard Presents Assets Backing Its Stablecoins

<div class=”featured_image_container”> </div> <strong>Paxos, a regulated blockchain company, recently presented the basket of resources that back its stablecoins. Paxos Standard (PAX) and Binance USD (BUSD) are reportedly backed almost 100% by cash and cash equivalents. Dan Burstein, CCO of Paxos, harshly criticized Tether and Circle, issuers of other stablecoins, stating their products we’re not really …

Paxos Standard Presents Assets Backing Its Stablecoins Read More »

Tether promises an audit in ‘months’ as Paxos claims USDT is not a real stablecoin

There will be an official audit of the world’s most popular stablecoin Tether within months according to the project’s general counsel. An audit for the world’s third-largest digital asset has been awaited for several years and increased regulatory pressure appears to have accelerated the process. In a rare mainstream media interview on CNBC, Tether CTO …

Tether promises an audit in ‘months’ as Paxos claims USDT is not a real stablecoin Read More »

Circle Publishes USDC Attestation, Reserve Report Reveals Segregated Accounts in USD-Denominated Assets

<div class=”featured_image_container”> </div> <strong>On July 20, the CEO of Circle Internet Financial LLC., Jeremy Allaire, published a blog post that explains the firm’s dollar-pegged stablecoin is backed by “prioritized trust, transparency, and accountability.” Allaire’s blog post follows a letter from the Centre Consortium’s accountant, Grant Thornton explaining that the stablecoin’s reserve account information matches the …

Circle Publishes USDC Attestation, Reserve Report Reveals Segregated Accounts in USD-Denominated Assets Read More »

Treasury secretary Yellen urges lawmakers to quickly introduce stablecoin guidelines

United States Treasury Secretary Janet Yellen has told financial regulators that the government must act quickly to establish a regulatory framework for stablecoins. The comments came at Monday’s meeting of the President’s Working Group on Financial Markets. The group discussed the rapid growth of stablecoins, revealing plans to issue regulatory recommendations in the coming months, …

Treasury secretary Yellen urges lawmakers to quickly introduce stablecoin guidelines Read More »

Hop Protocol launches USDC bridge between Ethereum, Polygon, and xDai

Hop Protocol, a team working on interoperability within Ethereum’s layer-two ecosystem, has launched its Hop bridge for the first time.  A July 12 blog post notes the bridge has been launched with limited functionality, currently supporting “instant” USD Coin (USDC) transfers between the Ethereum mainnet, Polygon, and xDai Chain. Hop plans to expand the number …

Hop Protocol launches USDC bridge between Ethereum, Polygon, and xDai Read More »

Coinbase will pay users 4% interest on USDC holdings

Major cryptocurrency exchange Coinbase has announced users will be able to earn 4% interest on USD Coin through a product the company compared to an alternative to a fiat savings account. In a Tuesday blog post, Coinbase said its users could earn 4% annual percentage yield, or APY, by lending out their holdings for the …

Coinbase will pay users 4% interest on USDC holdings Read More »

Crypto.com taps Circle for global dollar deposits

Digital asset exchange platform Crypto.com opened a new U.S. dollar fiat on-ramp thanks to a new partnership with global payment provider Circle, according to a June 28 announcement. The partnership between Crypto.com and Circle enables users in over 30 countries to deposit dollars from their bank account and receive USD Coin (USDC), a popular dollar-pegged …

Crypto.com taps Circle for global dollar deposits Read More »

Boston Fed President Says the ‘Exponential Growth’ of Stablecoins Could ‘Disrupt’ Money Markets

<div class=”featured_image_container”> </div> <strong>Boston Federal Reserve president Eric Rosengren discussed stablecoins in a recent presentation on June 25. Rosengren stressed that stablecoins could be a “disruptor” to prime money market funds and the Boston Fed president remarked that the exponential growth of stablecoins is concerning.</strong> Rosengren: ‘We Should Be a Bit Concerned About Stablecoin Markets …

Boston Fed President Says the ‘Exponential Growth’ of Stablecoins Could ‘Disrupt’ Money Markets Read More »

Iron Finance Token Slides From $64 to Near Zero Following ‘Large-Scale Crypto Bank Run’

<div class=”featured_image_container”> </div> <strong>The Iron Titanium token (TITAN) value has quaked a great deal after the project suffered from what the team called “the world’s first large-scale crypto bank run.” After touching a high of $64 per token on Wednesday, the project slid to near zero and remained worthless on Thursday afternoon.</strong> Iron Finance Claims …

Iron Finance Token Slides From $64 to Near Zero Following ‘Large-Scale Crypto Bank Run’ Read More »