Colombian Peso Stablecoin Goes Live on Polygon, Aiming for $10B Remittances Market
Num Finance already issues stablecoins pegged to the Argentine and Peruvian local currencies. Source
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Stablecoin
Hong Kong’s scholar backs HKD stablecoin to take on USD and USDT
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Vice President of the Hong Kong University of Science and Technology is once more supporting the idea of introducing a stablecoin tied to the Hong Kong Dollar (HKD) to challenge the status of USDT, a
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Shopify Customers Can Now Pay In USDC Stablecoin Via Solana Pay
“Solana Pay on Shopify opens up millions of merchants to a more dynamic and efficient payment choice, while consumers get the convenience and increased utility of being able to pay for goods and services with digital dollar currencies from the vast network of merchants using Shopify," said Josh Fried, head
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MakerDAO’s DAI Stablecoin Surpasses $5B on Higher Yield, Lifting DeFi Lender Spark Protocol
The extra payout has drastically bitten into Maker’s profits, Kunal Goel, analyst at Messari noted in a report. “Higher rates on higher deposits ballooned the protocol’s interest expense [and] has dried up profit expectations,” he wrote. The too-high rate also opened up opportunities for arbitrage, Goel added. Source
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Coinbase invests in stablecoin operator Circle
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Coinbase (COIN), a US-based cryptocurrency exchange, has secured a minority stake in a payment company Circle. This collaboration comes as both entities take the significant step of dissolving their Centre Consortium partnership, which had been instrumental
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Coinbase (COIN) Gets a Stake in Stablecoin Operator Circle and USDC Adds 6 New Blockchains
“I really do believe PayPal grows the pie for us,” McDonnell said in an interview with CryptoX. “Crypto is so small today compared to the overall financial world. And, so, getting a lot of people in, whether they come through the PayPal door, or some other door, a lot of
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Singapore regulator seeks input from Ripple and Circle on stablecoin regulation
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Monetary Authority of Singapore (MAS) has released a consultation paper seeking industry feedback on its proposed regulatory approach for stablecoins and related activities in the city-state. Major cryptocurrency firms Ripple and Circle submitted detailed responses to
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PayPal’s new PYUSD stablecoin faces legal headwinds and ‘less functionality’
Although a clear regulatory framework for digital assets has yet to be established in the United States, PayPal — one of America’s largest financial technology companies — announced on Aug. 7 its U.S. dollar-pegged payment stablecoin, PayPal USD (PYUSD). A PayPal spokesperson told Cryptox that PYUSD is important because mainstream adoption
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Tether discontinues Bitcoin stablecoin, citing lack of usage
The issuer of stablecoin Tether (USDT) will discontinue its Bitcoin (BTC) Omni Layer version, citing lack of interest from users. This Bitcoin version of Tether was one of the first stablecoins ever created. The Bitcoin Cash (BCH) and Kusama (KSM) versions will also be discontinued, according to an August 17
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PayPal’s stablecoin opens door for crypto adoption in traditional finance
Global payment processing giant PayPal announced its United States dollar-pegged payment stablecoin called PayPal USD (PYUSD) on Aug. 7. The stablecoin is developed on Ethereum (ERC-20) and will be issued by Paxos Trust Co. PYUSD is reportedly fully backed by U.S. dollar deposits, short-term Treasurys and similar cash equivalents.PayPal said that
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