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South Korea’s Shinhan Bank has completed its second proof-of-concept using stablecoins for international remittances. Siam Commercial Bank’s SCB TechX unit and an unnamed Taiwanese financial institution also participated in the project.The project carried out real-time settlement and foreign exchange integration with the banks’ national currencies on the Hedera network. The
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Aave has launched its algorithmic stablecoin, GHO, backed by multiple crypto assets, including ethereum (ETH). GHO will be an alternative to DAI, a stablecoin minted by MakerDAO. Aave’s GHO is live After more than one year in development, Aave,
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“Ethena is building the holy grail of stablecoins: a coin that is truly stable, decentralized, and capital-efficient,” said Dragonfly general partner Tom Schmidt in the press release. “Stablecoins have grown massively in popularity over the past few years by providing access to USD-denominated savings and remittances for people around the
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The future is bright for euro-denominated stablecoins, according to Patrick Hansen, European Union strategy and policy director at Circle. The United States dollar may preserve its “first mover” advantage, but euro stablecoin will see increasing real world use cases emerge to lift it above its current meager market share,
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Decentralized finance (DeFi) protocol Aave has launched its algorithmic United States-dollar pegged stablecoin GHO on the Ethereum mainnet, with $2.19 million worth of GHO minted so far.Aave announced the launch of the new stablecoin in a July 16 blog post, describing the new stablecoin GHO as a “decentralized, over-collateralized” asset.
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Techteryx assumed "full management full management of all offshore operations and services related to TUSD," on July 13. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied As a proactive measure in anticipation of mandatory regulations due to be enforced in 2024, the European Union’s banking overseer has prompted stablecoin issuers to voluntarily adhere to “guiding principles” concerning risk management and consumer protection. On July
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For a long time, this might have been a hurdle compared to other, more lax, regulatory environments. However, recent crypto crackdowns in the U.S. have shown that, while MiCA might be more strict on the issuance of stablecoins, it has the merit of being clear and providing stability. Source
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"To maintain our strong balance sheet, Circle is redoubling its focus on core business activities and execution,” a spokesperson for Circle told CryptoX in an email. “As a result, we have reduced or ended investments in non-core activities and reduced operational expenses which includes a marginal reduction in headcount. At
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In advance of required regulations that are expected in a year, the banking watchdog for the European Union asked stablecoin issuers to voluntarily follow certain "guiding principles" on risk management and consumer protection.The European Banking Authority (EBA) released its first set of measures on Wednesday, July 12, for public comment
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