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Defi sector rallies as interest rates to borrow stablecoins surge

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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UK Government Publishes Regulatory Framework for Crypto Assets and Stablecoins to Prevent FTX 2.0

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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Lightning Labs releases Taproot Assets alpha, bringing stablecoins to Bitcoin

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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Binance.US asks users to convert USD into stablecoins for withdrawals

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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How CBDCs and stablecoins can coexist: FIS panel discussion

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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Trader swaps 131k stablecoins for $0 during USDR depeg

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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