Cryptocurrency Analysis and News Portal
A year-and-a-half after it was first announced, JPM Coin — JPMorgan Chase's in-house stablecoin — is now live and in use by a major transnational tech firm for round-the-clock cross-border payments.According to a report on Oct. 27, this real-world proof that the technology is increasing efficiency and reducing costs has bolstered the megabank's
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The U.S. government is pursuing a civil forfeiture claim on more than 300,000 units of the tether (USDT) cryptocurrency after they were reported stolen in a hack earlier this year.The funds, co-owned by Shixuan Cai and business partner Lin Jian Chen, were later frozen by operator Tether Ltd. after Cai
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Raiffeisen's stablecoin project is becoming blockchain-agnostic, adding interoperability tech from Bitpanda and the Technical University of Vienna. Source
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The $1 billion in deposit growth from digital asset banking at crypto-friendly Signature Bank was driven in part by the bank holding the dollars backing stablecoins, CEO Joseph DePaolo said on a third-quarter earnings call Tuesday.Prominent stablecoins like USDC, PAX and TUSD are backed by actual dollars held in bank
Read MoreNew Zealand-based financial services company Power Finance plans to launch what it’s calling a “world-first” digital version of the New Zealand dollar. Set to launch early next year, the digital currency will employ Distributed Ledger Technology.The ‘Power Dollar’ is not government backed however and is more akin to a stablecoin
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USDC is being added to its third blockchain: Stellar.Announced Thursday during the Stellar Development Foundation’s quarterly review call, the addition of the dollar-backed stablecoin seeks to bolster Stellar’s standing as a cross-border payments network.“We are focused on creating equitable access to the financial system by building a global network that
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All-time transaction volume on the Silvergate Exchange Network (SEN) has reached $100 billion, with SEN transactions correlated to bitcoin and stablecoin trading.The La Jolla, Calif.-based Silvergate Bank has seen a significant adoption of the payments platform, which is open 24/7 to offer fiat on-ramps for the crypto markets. For full
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Bitcoin has performed well in the face of a bleak news cycle while stablecoin assets in the crypto ecosystem continue to grow.Bitcoin (BTC) trading around $10,515 as of 20:00 UTC (4 p.m. ET). Slipping 0.44% over the previous 24 hours.Bitcoin’s 24-hour range: $10,362-$10,667BTC above its 10-day moving average but below
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“2020 seems to be the year of stablecoins,” said Tether CTO. Source
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An unsurprising statement from a financial regulator is sending some welcome signals that point to a spurt of innovation ahead.The U.S. Office of the Comptroller of the Currency (OCC) issued a statement earlier this week saying that national banks can provide services to stablecoin issuers in the U.S. This is not
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