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FTX and collapses like Signature, Silvergate and Silicon Valley Bank show need for stronger consumer protection, governance norms, the International Monetary Fund said in its Global Financial Stability Report Source
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Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: Latin American nations ink an agreement to reduce inflation, Brazil-based BTG Pactual launches its own dollar-pegged stablecoin, and Argentina launches yet another dollar exchange rate. Latin
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"When news about unlimited support for bank deposits made the rounds, bitcoin prices exploded from $20,000 to $28,000 within a matter of days," said Thielen in a note to clients on Thursday. "But it would appear that holders of USDC either converted their Circle stablecoin into Tether's USDT or that
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Tether (USDT) continues to benefit from the ongoing turmoil in the U.S. dollar-backed stablecoin industry with its market capitalization growing significantly in Q1 2023 at other stablecoins' expense.Tether market cap reaches $80 billionOn April 6, the circulating market cap of USDT surpassed $80 billion for the first time since May
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Like many stablecoins, BTG Dol token is also pegged to the US dollar. Latin America’s biggest investment bank, BTG Pactual, has just announced the launch of its own stablecoin – BTG Dol. According to an official statement from the bank, the stablecoin will run on the Polygon network and is already
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BTG Pactual, one of Latin America's largest investment banks, has introduced a dollar-backed stablecoin through its crypto platform Mynt. Source
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Despite being touted as a game-changing innovation, the decentralized finance (defi) ecosystem is still not connected to fiat rails largely because of regulatory and compliance issues, Torsten Stuber, the CTO at Pendulum says. According to Stuber, the defi ecosystem will succeed in getting more traditional financial institutions on board once
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Tether, the firm behind the largest stablecoin by market capitalization, reportedly allowed its clients to send funds through Signature Bank’s payments platform — granting the firm access to United States banks.According to an April 4 Bloomberg report, Tether had a pathway to the U.S. banking system by instructing its users
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Tether CTO Paolo Ardoino, in response to the article, said the company has no exposure to Signature Bank. Source
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Major Brazilian investment bank BTG Pactual continues onboarding new cryptocurrency services with the launch of its own stablecoin backed by the U.S. dollar.BTG Pactual is preparing to launch the BTG Dol, a new stablecoin pegged to the U.S. dollar on a 1:1 ratio, using the bank’s custody services. Announcing the
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