Cryptocurrency Analysis and News Portal
Per an interpretive letter from the U.S. Office of the Comptroller of the Currency released on Monday, national banks will be free to hold reserve currencies for stablecoins.The new guidance reads, "We conclude that a national bank may hold such stablecoin 'reserves' as a service to bank customers."Alongside the announcement,
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Finance ministers from five European countries have called on the EU Commission to introduce tough regulation for stablecoins. Source
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Alexander Lipton is the CTO of Sila, a visiting professor and Dean’s Fellow at the Jerusalem Business School of the Hebrew University of Jerusalem, and a Connection Science Fellow at the Massachusetts Institute of Technology. On Aug. 27, the Federal Reserve Chairman Jerome Powell gave a widely watched speech entitled “New
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Ripple executive explained that XRP is not a rival to stablecoins and CBDCs in international settlements.Ripple’s senior director of global operations Emi Yoshikawa has revealed in an interview that the XRP coin was not designed to compete with Central Bank Digital Currencies (CBDCs) and Stablecoins, rather, it is complimentary. She
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Bitcoin is going to reach $1 trillion in settlement in 2020, while stablecoins have already seen their biggest year ever. The stablecoin monetary base increased by $3.8 billion.Cryptocurrency public blockchains will work out more in this year than ever before and have already surpassed $1.3 trillion, according to data by
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In a paradoxical twist, bitcoin’s price, which is denominated in dollars, has become unusually stable in recent weeks, prompting some Twitter users to joke that it’s trading like a stablecoin. “It’s surprising to see bitcoin be so boring given everything happening both within and outside the crypto industry,” the digital-asset analysis firm
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Quick take:Global Central Banks are embracing the idea of creating and using digital currencies. At the same time, the usage of Stablecoins is increasing as many traders use them to transfer value in the crypto ecosystem.CBDCs and Stablecoins will most likely provide a gateway for new users to experience and invest
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Speaking on a Unitize digital conference panel, Peter Dittus, chief economist for SFB Technologies, said he does see a place for privately-issued stablecoins. "I don't see a great future," Dittus said of stablecoins on the June 7 panel, live streamed by Cryptox. Two stablecoin classifications existStablecoins exist in two categories — privately
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Crypto market data aggregator Messari reports that the market cap of leading stablecoin Tether (USDT) has surpassed $10 billion for the first time.Alongside Bitcoin (BTC) and Ethereum (ETH), Tether is now one of three crypto assets with an eleven-figure capitalization. Tether’s reported $10 billion market cap comes after year-to-date growth of
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In the past year, three major financial oversight bodies have voiced concerns about threats to financial stability purported to be posed by stablecoins. While acknowledging the potential for enhanced payments efficiency, reports from the Bank for International Settlements, the United States Federal Reserve and, most recently, from the Financial Stability
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