Category: Stablecoins

Central bank of China to launch digital currency within months in fight to retain control over monetary policy

The People’s Bank of China (PBOC) will roll out China’s sovereign digital currency, DC/EP, as early as November this year, distributing it to seven institutions including Alibaba, Tencent, and the four largest banks in the world, two separate sources told Forbes. Paul Schulte, a former executive at China Construction Bank and Lehman Brothers Hong Kong,…

August 28, 2019
Beyond USD: The Next Frontier for Stablecoins

The next generation of stablecoins will eschew the U.S. dollar as their basis, writes Bitspark’s George Harrap.

August 26, 2019
Market Update: Economists Envision Global Recession While Crypto Prices Soldier On

[youtube https://www.youtube.com/watch?v=g9Ki7_jt3OM&w=560&h=349] Last week cryptocurrency prices bounced around after a majority of coins dropped in value on August 21. Today on August 26, digital currency markets have gained around 1.52%, gathering $4 billion since the initial slump. Despite the volatility, cryptocurrencies have consolidated and a few speculators believe a breakout is on the cards that…

August 26, 2019
Bitfinex must face New York attorney general in fraud lawsuit, says judge

A New York judge ruled Bitfinex must face the fraud suit and impending investigation set against it in April by New York attorney general Letitia James, denying the company’s request for the case to be dismissed due to lack of jurisdiction, Bloomberg reported. Justice Joel M. Cohen said Monday that iFinex Inc., the Hong Kong-based…

August 20, 2019
Binance announces Venus, which aims to compete with Facebook’s Libra

The world’s largest cryptocurrency exchange by trading volume, Binance, announced that it is planning to launch an open blockchain project focused on developing localized stablecoins around the world. Reshaping the world’s financial system Over the years, Binance has actively communicated the need for a “global, multi-dimensional customer network and compliance system” to different regulatory authorities around…

August 19, 2019
Three-quarters of all Tether owned by just 318 addresses

Tether ownership is worryingly concentrated, citing Coin Metrics data that showed just 318 addresses held 80 percent of all Tether in circulation. Coin Metrics data shows Tether ownership highly concentrated Tether, a stablecoin created to provide liquidity to cryptocurrency exchanges, hasn’t been a stranger to controversy. Since it was introduced in 2015, the company has…

August 9, 2019
Walmart’s coin could gain approval from regulators easier than Libra, says top investment bank

Walmart’s prospective USD-backed stablecoin should be looked upon more favorably by regulators than Facebook’s Libra, according to U.S. investment banking and financial services company, Cowen, Bloomberg reported. Where Cowen may not be known as one of Wall Street’s household names, the investment bank has in recent years appeared more confident voicing its bets after being…

August 6, 2019
Tether Effect: Stablecoin transaction volumes on Ethereum surpasses Venmo

A recent report from TradeBlock found that the total on-chain transfer volume across the largest stablecoins has surpassed Venmo’s total payment volume in Q2 2019. But while many celebrated this as a win for cryptocurrencies, some saw the numbers as overblown and said the two cannot be compared. TradeBlock says stablecoin on-chain transaction volumes have…

August 4, 2019
Research Reports Show Positive Crypto Industry Growth in H1 2019

More than half the year is behind us and the cryptocurrency ecosystem continues to move forward, showing relentless growth over the last six months. 2019 has also seen a new theme arise as speculators believe the cryptocurrency ecosystem is experiencing an influx of institutional interest and regulatory crackdowns. A variety of cryptocurrency research reports analyzing…

August 3, 2019
Major brands like Amazon and T-Mobile will create their own stablecoins, predicts Stably

After Facebook’s Libra, it seems likely that other major brands like Amazon, Delta, and T-Mobile will create their own stablecoins. Stablecoins of the future The coming years will see the advent of a second generation of stablecoins. These “branded” stablecoins would not only employ the fundamental aspects of price stability and blockchain technology used by…

July 30, 2019