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China’s nationwide blockchain project, the Blockchain Service Network, or BSN, will be integrating stablecoin support in 2021.Yifan He, CEO of Red Date Technology, a major tech company involved in the BSN development, told Cryptox that the project will soon start integrating stablecoins.Piloted in late 2019, China’s BSN is a state-backed
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POKKET, a platform that offers structured savings products for dozens of different cryptocurrency tokens, has just announced it will be expanding its range to support an additional 15 different ERC20 tokens.This update comes just weeks after POKKET passed more than $4 million in customer deposits – following dramatically increased demand
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While Cryptocurrencies have attracted huge investments in recent years and challenged the existence of financial markets, it is yet to replace fiat currency in its entirety. Every currency needs to simultaneously act as a medium of exchange, a unit of account, and a store of value. However, due to its
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Institutional demand for stablecoins may cool because yield on “carry trades” has been cut in half since Monday. The annualized rolling one-month futures basis shot as high as 28% at the start of the week on the Malta-based cryptocurrency exchange OKEx, the biggest in terms of open interest. That was the
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South Korea’s Buyeo County, located in the rural province of South Chungcheong, has been witnessing strong interest in a local blockchain-powered stablecoin since its creation in early 2019.According to a report published by Donga, most of the county’s population is made up of elderly residents. Census data indicates that around
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The Tether Gold stablecoin was valued at $1,902 on July 24, putting the price of gold within reach of the commodity’s all-time high set in September 2011.Gold has risen 22.7% from $1,550 to $1,902 since Tether Gold (XAUT) — a stablecoin allowing ownership of one troy ounce of gold held
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Avanti Bank & Trust, Wyoming-based pioneering financial institution planning to offer services to the crypto industry, has announced plans for a ‘stablecoin disruptor’ that’s designed to modernize U.S. dollar payments.In a July 23 announcement, Avanti said that the payment instrument, dubbed ‘Avit,’ is not a security and predicted it “will
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Place/Date: Geneva, Switzerland - July 23rd, 2020 at 5:30 pm UTC · 4 min read Contact: WSA, Source: World Stablecoin Association VirgoX, a leading digital asset exchange, and Global Digital Assets (GDA Capital), a leading blockchain capital markets firm, announced the launch of
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Amid the massive growth of stablecoins in 2020, the cryptocurrency community is setting up an international stablecoin organization in Switzerland.Called the World Stablecoin Association, or WSA, the Geneva-headquartered organization is to be launched by cryptocurrency exchange VirgoX and blockchain capital markets firm Global Digital Assets, or GDA Capital. The WSA
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The most dominant stablecoin in the cryptocurrency ecosystem has seen some competition during the last few years, but the token tether has remained king in the face of rivalry. Just recently, a “Q2’20 review” published by the digital currency data and analytics firm Messari shows that tether’s daily transaction
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