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Defi lending platforms see a spike in stablecoin borrowing rates, signaling a market rebound with rising demand and potential arbitrage opportunities. The current bull market has triggered a resurgence for the defi sector, as interest rates for borrowing stablecoins have significantly increased across most defi lending services. The interest rates for borrowing
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Following the collapse of Terra Luna and FTX last year, the UK policymakers have committed to introducing a new regulatory regime for crypto assets and stablecoins to ensure sustainable and secure mainstream adoption. The United Kingdom policymakers have in the past year worked closely with different financial institutions and other stakeholders
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The U.K. government published plans for regulating crypto last week. Source
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Deutsche Bank and Standard Chartered’s SC Ventures are testing a system that will allow blockchain-based transactions, stablecoins, and central bank digital currencies (CBDCs) to talk to one another, taking an approach similar to the SWIFT messaging layer in legacy banking infrastructure. The banks are running a series of test cases,
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The UDPN’s transaction nodes are where the magic happens, being connected to currency systems and currency pools,” Schacher said in an interview. “The way to envision it is each currency needs a transaction of its own, so to speak. This could be central banks in the future, owning transactions and
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At the same time, stablecoins’ prominence in the crypto industry has led to widespread concerns about their so-called stability. In May of 2022, the algorithmic stablecoin project Terra Luna collapsed, leading to losses of billions of dollars in value. There has long been widespread concern about the world’s dominant stablecoin,
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Bitcoin layer-2 infrastructure firm Lightning Labs has released the mainnet alpha of Taproot Assets, a protocol aimed at enabling stablecoins and real-world assets to be issued on the Bitcoin and Lightning Network.The current version, Taproot Assets v0.3, will provide a “feature-complete developer experience” to issue, manage and explore stablecoins and other
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Cryptocurrency exchange Binance.US has updated its terms of service, hinting that direct withdrawals in United States dollars are no longer supported on the platform.Binance.US updated its terms of service on Oct. 16, modifying the section about the “BAM Fiat Wallet,” referring to Binance.US services related to U.S. dollar custody.In the
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At the recent Future Innovation Summit event held in Dubai, Cryptox moderated a panel titled “Stablecoins, Central Bank Digital Currencies and Cross-Border Payments” to explore if CBDCs and stablecoins can coexist and how this would be possible. The panel included Jorge Carrasco, the managing director of FTI Consulting; Nikita Sachdev, the
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During yesterday's real-estate-backed U.S. dollar stablecoin Real USD (USDR) crisis, a trader appears to have swapped 131,350 USDR for 0 USD Coin (USDC), resulting in a complete loss on investment.According to the October 12 report by blockchain analytics firm Lookonchain, the swap occurred on the BNB Chain through decentralized exchange
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