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A power struggle is emerging among traditional banks, tech giants, and crypto firms like Tether and Circle as they seek to shape U.S. stablecoin regulations. Bank of America is lobbying for rules favoring established banks, while the ongoing rivalry between Tether and Circle highlights differing approaches to reserve management and compliance amidst growing concerns over financial stability.
Tether is set to launch a new stablecoin specifically for the US market, a move that follows recent regulatory support from former President Trump. This decision aims to cater to the growing demand for stable digital currencies while ensuring compliance with US regulations.
Paxos, PayPal's blockchain partner, mistakenly minted $300 trillion worth of its stablecoin PYUSD due to a technical error, which was quickly corrected by burning the excess tokens. Despite the dollar-pegged nature of PYUSD, the incident raises concerns about the feasibility of backing such a large amount with existing currency. The stablecoin remains a significant player in the market, currently ranked as the sixth-largest with a market cap of over $2.6 billion.
Japan's second-largest bank, SMBC, is set to launch its own stablecoin in collaboration with Ava Labs and Fireblocks, as reported by Nikkei. Experiments for the stablecoin are scheduled to begin in the latter half of 2025, aiming for a potential launch in 2026. This initiative seeks to enhance cross-border payment efficiency while reducing transaction costs.
Circle has successfully priced its IPO at $31 per share, raising $1.1 billion and achieving a valuation of $6.9 billion as it prepares to debut on the NYSE under the ticker CRCL. This marks a significant milestone for the stablecoin issuer, which previously attempted to go public through a SPAC in 2021. The move comes amid growing interest in digital assets and potential regulatory advancements for stablecoins.
Brex has launched a new stablecoin payment platform to meet growing demand in the fintech sector. The platform aims to streamline transactions and enhance payment efficiency for businesses relying on digital currencies. This move positions Brex at the forefront of the evolving financial technology landscape.
A consortium of European banks, including UniCredit and ING, plans to launch a euro-denominated stablecoin in 2026, aiming to attract crypto-averse investors and potentially accelerate the development of a digital euro. This new stablecoin, regulated under the EU's MiCAR framework, seeks to provide efficient and cost-effective payment solutions while addressing the current dominance of U.S. stablecoins in the global market. Experts suggest that such a product may enhance demand among European investors, despite concerns about compliance affecting privacy advocates.
Circle, the stablecoin firm, experienced a significant surge in its stock price, climbing 205% on its second day of trading following its IPO. The company's performance reflects growing investor interest in cryptocurrency-related businesses as regulations evolve.
Visa has participated in a $4.9 million Seed funding round for HoneyCoin, a stablecoin-compatible payment platform. HoneyCoin, which allows real-time payments and operates across over 45 markets, seeks to expand its team and enhance its services with the new capital. CEO David Nandwa envisions transforming financial infrastructure akin to Apple's impact on computing and Visa's on commerce.
Major U.S. banks, including JPMorgan Chase, Bank of America, and Citigroup, are in discussions to potentially collaborate on issuing a joint stablecoin. This initiative reflects a growing interest in integrating cryptocurrency solutions within traditional banking frameworks.
Circle, a prominent stablecoin issuer, is facing a significant push from its shareholders who are seeking $624 million in an initial public offering (IPO). The move comes as the company looks to expand its market presence and solidify its position in the cryptocurrency industry.
Coinbase is relaunching its Stablecoin Bootstrap Fund aimed at enhancing liquidity in the decentralized finance (DeFi) sector. This initiative is part of Coinbase's broader strategy to support the growth of DeFi and improve user experiences in the cryptocurrency ecosystem.
Visa has noted a modest increase in stablecoin adoption, highlighting the need for clear regulations in the sector. The company emphasizes the importance of regulatory clarity to foster growth and innovation in the use of stablecoins for payments.
Coinbase is reviving its Stablecoin Bootstrap Fund to enhance stablecoin liquidity in decentralized finance (DeFi) markets, initially deploying funds in USDC and EURC on platforms like Aave, Morpho, Kamino, and Jupiter. This initiative aims to support both established and emerging protocols as the DeFi sector continues to grow, despite remaining below its 2021 peak.
Major U.S. banks, including JPMorgan Chase and Bank of America, are exploring the possibility of issuing a joint stablecoin to compete with the growing cryptocurrency market. These discussions are in the early stages and hinge on regulatory developments and market demand for such digital assets.
Privacy Pools, an on-chain privacy solution supported by Ethereum co-founder Vitalik Buterin, has announced the integration of Sky’s USDS stablecoin. This marks the first step in their expansion into multi-asset privacy pools, enhancing their offerings in the decentralized finance space.
Coinbase and Mastercard are in a bidding war for the stablecoin startup BVNK, with the sale price estimated between $1.5 billion and $2.5 billion. Following the recent passage of the GENIUS Act, interest in stablecoin firms has surged, positioning Coinbase as the frontrunner in the acquisition.
Stripe has launched subscription capabilities for stablecoin payments, allowing businesses to accept crypto payments that settle directly in fiat. This new feature aims to streamline cross-border transactions and reduce costs for companies, particularly in the AI sector, by integrating stablecoin payments into their existing subscription models. Initially available in private preview for US-based businesses, it supports payments made in USDC over the Base and Polygon blockchains.
Brex has announced the launch of its new stablecoin payment system, allowing businesses to make transactions using cryptocurrency. This innovation aims to simplify payment processes and enhance financial operations for companies utilizing the Brex platform. The stablecoin will provide a more stable and secure alternative to traditional cryptocurrencies for commercial transactions.
Understanding stablecoin attestation reports is essential for evaluating the financial health and reserves backing these digital currencies. The article outlines key components of such reports, including the role of auditors, the significance of transparency, and how to interpret the information provided. By mastering these aspects, investors can make more informed decisions regarding stablecoin investments.
MetaMask is set to introduce the mUSD stablecoin, designed to enhance user experience on Ethereum and its Linea network. This innovative stablecoin will be natively integrated into the MetaMask wallet, aiming to facilitate various functions such as ramping, swapping, and spending. Details regarding the launch date and issuance size are yet to be confirmed.
JPYC Inc. has introduced Japan's first legally recognized yen-backed stablecoin, JPYC, which maintains a 1:1 peg with the Japanese yen. The stablecoin is fully backed by yen deposits and government bonds, operating on multiple blockchains such as Avalanche, Ethereum, and Polygon. JPYC aims to achieve a circulation of 10 trillion yen ($65.4 billion) within three years.
Circle, the issuer of the USDC stablecoin, has filed for an initial public offering (IPO) as its revenue continues to grow. The company aims to capitalize on the increasing demand for digital currencies and strengthen its market position. This move signals a significant step toward integrating cryptocurrency with traditional finance.
The article discusses the potential benefits and implications of companies issuing their own branded stablecoins, such as a hypothetical McDonald's Coin. It explores how such a digital currency could enhance customer loyalty, streamline transactions, and create new marketing opportunities while also addressing regulatory challenges and market competition.
The article explores the depegging of sUSD, a crypto-collateralized stablecoin, highlighting the factors that led to its instability and the implications for users and the broader cryptocurrency market. It discusses the challenges faced by stablecoins in maintaining their value and the lessons learned from this incident.
Visa is joining the Global Dollar Network (USDG) stablecoin consortium led by Paxos, making it the first traditional finance company to do so. The consortium, which includes firms like Robinhood and Kraken, aims to share yield among its members, contrasting with existing stablecoin issuers that retain interest from reserves. Visa's entry highlights the growing intersection of traditional finance and the cryptocurrency sector.
Ethereum's stablecoin transactions have surged to a record $908 billion, driven by interest from institutions, tech giants, and notable figures such as Donald Trump. This growth has enhanced Ethereum's status as the leading blockchain for dollar-denominated digital assets, fostering increased competition among companies looking to issue or adopt stablecoins.
Financial technology companies are increasingly pursuing US bank charters to gain access to stable financing options. The number of applications has surged during President Trump's second term, reflecting a favorable regulatory environment that encourages fintechs to establish banking arms.
Coinbase is eliminating fees for purchases of PayPal's stablecoin, PayPal USD (PYUSD), to boost its adoption and usage among consumers and institutions. The collaboration aims to create stablecoin-based solutions for global money management, as competition in the stablecoin market intensifies with legislative developments and new product launches from companies like Circle and Ripple.
Bridge's USDB is a unique infrastructure stablecoin backed 1:1 by US dollars, allowing developers to create custom stablecoins and share the economic benefits of reserves. It offers seamless conversions, rewards for developers, and robust security features, making it a flexible and secure option for businesses globally. With comprehensive APIs, Bridge supports the integration of USDB into various financial products.
Stripe has enhanced its payment platform by adding support for stablecoin subscription payments, allowing US-based businesses to process recurring transactions using digital assets like USDC. This feature, powered by a smart contract system, streamlines the payment process and addresses limitations associated with manual transaction approvals, ultimately reducing costs and improving efficiency for companies, especially in the AI sector.
Figure Technologies, a stablecoin issuer, successfully raised $787.5 million in its initial public offering, selling 31.5 million shares at $25 each. This move highlights the growing acceptance of digital assets in mainstream markets, driven by favorable regulatory conditions and increased corporate adoption.
Bastion is positioning itself as the regulated issuer for USDH, a new stablecoin designed for institutional use, emphasizing compliance with GENIUS standards and a strong regulatory framework. The company aims to facilitate ecosystem growth by providing a neutral platform for stablecoin issuance, leveraging its partnerships and regulatory approvals to ensure liquidity and accessibility for users.
Japanese startup JPYC has announced plans to issue the first stablecoin pegged to the yen, named "JPYC," after receiving official licensing. The stablecoin will be fully convertible to yen and backed by domestic savings and Japanese government bonds, with initial demand expected from institutional investors in Japan and future aspirations for international use.
Societe Generale plans to become the first major bank to issue a publicly tradable, dollar-backed stablecoin named "USD CoinVertible". The stablecoin will be launched on the Ethereum and Solana blockchains, with public trading anticipated to begin in July through its digital asset subsidiary SG-FORGE.
Brex has announced the launch of stablecoin payments, allowing businesses to transact using cryptocurrency in a more stable manner. This initiative aims to enhance financial flexibility and streamline payment processes for users. The move reflects Brex's commitment to integrating innovative payment solutions into its offerings.
Stablecoin usage for payments has surged by 70% since new U.S. regulations were implemented, indicating a significant shift in the cryptocurrency landscape. This increase reflects growing consumer confidence and adoption as businesses adapt to the regulatory environment.
The article discusses the impending end of the stablecoin duopoly, highlighting the growing competition from new players in the market. It emphasizes the implications for cryptocurrency stability and the broader financial landscape as these developments unfold.
The stablecoin market has surpassed a total market capitalization of $250 billion, driven by increasing adoption and significant regulatory momentum. As regulatory frameworks develop, various stablecoins are gaining traction within the cryptocurrency ecosystem, influencing their growth and usage.
Ripple has announced its acquisition of prime broker Hidden Road for $1.25 billion, a significant move to bolster its institutional presence and stablecoin initiatives. The deal, which is pending regulatory approval, will enhance Hidden Road's operations and integrate Ripple's U.S. dollar-backed stablecoin, RLUSD, into its platform, showcasing Ripple's commitment to bridging traditional finance and digital assets.
Aave Labs has acquired Stable Finance to enhance its consumer-focused products in decentralized finance (DeFi). With Mario Baxter Cabrera becoming the Director of Product and the Stable engineering team joining Aave, the aim is to leverage Stable's technology to create user-friendly financial solutions, particularly in stablecoin savings. The existing Stable app will be phased out as its technology is integrated into future Aave products.
Fireblocks has unveiled a stablecoin payments network aimed at assisting crypto and financial firms in the movement and utilization of USD-pegged tokens. With over 40 participants including Circle and Yellow Card, the network is poised to capitalize on the expected growth of the stablecoin market. This initiative aims to streamline payment processes and enhance infrastructure for traditional financial institutions exploring their own stablecoin solutions.
Dankrad Feist, a prominent Ethereum developer known for his contributions like Danksharding, is leaving the Ethereum Foundation to join Tempo, a stablecoin-focused Layer 1 incubated by Stripe and Paradigm. Despite his departure being seen as a loss for the Ethereum community, Feist emphasized that Tempo shares similar ideals with Ethereum and aims to enhance payment capabilities in the crypto space.
Visa and Stripe have announced a partnership aimed at simplifying the integration of stablecoin payments into card transactions. This collaboration seeks to enhance the usability of stablecoin-based cards, potentially broadening their adoption in everyday transactions. As digital currencies gain traction, this initiative represents a significant step in bridging traditional finance with cryptocurrency solutions.
Senators Elizabeth Warren and Richard Blumenthal have questioned Meta about its stablecoin plans ahead of a key Senate vote on the GENIUS Act. The lawmakers are concerned about potential privacy issues and whether Meta has lobbied for the bill, specifically regarding restrictions on Big Tech firms owning stablecoin issuers. The letter also references Meta's troubled history with its previous stablecoin initiative, Libra.
Circle is set to launch Arc, an EVM-compatible Layer 1 blockchain that will use its USDC stablecoin as the native gas token. The announcement follows a strong Q2 performance, with revenue up 53% to $658 million, despite a net loss attributed to IPO-related charges.
PayPal and Coinbase have teamed up to eliminate trading fees for the stablecoin PayPal USD (PYUSD) on the Coinbase platform, aiming to enhance its adoption. Users can now trade PYUSD without fees and redeem it directly for USD, while PayPal plans to offer a 3.7% yield for PYUSD holders starting in 2025.
Circle Internet Group, the issuer of the USDC stablecoin, has filed for an initial public offering (IPO) on the New York Stock Exchange, offering 24 million class A shares priced between $24 and $26. The firm, which has been pursuing a public listing for nearly four years, aims to raise up to $250 million, with significant interest from Cathie Wood's ARK Investment.
Nine European banks, including ING and UniCredit, have collaborated to create a MiCA-compliant euro stablecoin, expected to launch in the second half of 2026. The consortium aims to provide a competitive alternative to US stablecoins, enhancing digital payment efficiency, cross-border transactions, and financial market infrastructure using blockchain technology. A new company will be established in the Netherlands to oversee the project under the supervision of the Dutch Central Bank.
Tether is reportedly considering a significant investment in the gold supply chain, surprising executives in the mining and commodities sectors. CEO Paolo Ardoino hinted at the truth of the report with a comment on social media, while Tether’s current gold holdings include nearly 250,000 Tether Gold tokens backed by physical gold.
Tether is looking to raise between $15 billion and $20 billion through a private placement, aiming for a valuation of around $500 billion. The fundraising, confirmed by CEO Paolo Ardoino, will focus on expanding Tether's business lines, including stablecoins and artificial intelligence, while positioning the company alongside major players like OpenAI and SpaceX.
Interactive Brokers is exploring the possibility of launching a stablecoin for its customers as part of a broader trend among financial firms adapting to the evolving digital token landscape. The company aims to facilitate 24/7 stablecoin funding for brokerage accounts while collaborating with established crypto platforms like Paxos and Zero Hash.
Ant International, backed by Jack Ma, plans to integrate Circle's USDC stablecoin into its AntChain blockchain after meeting U.S. regulatory requirements. This partnership aims to enhance Ant's cross-border treasury and settlement services, potentially expanding USDC's reach to millions of users in various currencies.
Tether has reported a total exposure to U.S. Treasurys nearing $120 billion as of March, including indirect holdings through money market funds. The stablecoin issuer also announced an operating profit exceeding $1 billion for the quarter, while continuing to invest in diverse sectors.
Circle is launching a new payments and cross-border remittance network from its headquarters at One World Trade Center, aiming to compete with major players like Mastercard and Visa. The initiative will primarily target banks, fintechs, and remittance providers, leveraging the growing adoption of stablecoins like USDC to disrupt global money transfers. CEO Jeremy Allaire will present the vision for this new product at the launch event.
Paxos, Frax, Agora, and Native Markets are competing to issue Hyperliquid's upcoming USDH stablecoin, with proposals due for validator voting. Each bidder offers unique advantages, including compliance features and revenue sharing models aimed at benefiting Hyperliquid users. Additional bids from other firms are expected before the submission deadline.
Crossmint has partnered with MoneyGram to launch a stablecoin-powered cross-border payment service, starting in Colombia. This collaboration enables users to send, store, and spend U.S. dollar-denominated funds instantly and securely, revolutionizing MoneyGram's traditional remittance model and providing a more efficient and compliant payment solution.
Nine European banks, including ING and UniCredit, have formed a consortium to develop a euro-backed stablecoin, aiming for a launch in the second half of 2026. The initiative seeks to establish a trusted payment standard in Europe and will operate under the EU's Markets in Crypto-Assets Regulation (MiCA).
Cloudflare is set to introduce the NET Dollar, a stablecoin fully collateralized by the U.S. dollar, as the stablecoin market is projected to grow significantly, potentially reaching $1.9 trillion by 2030. The new stablecoin aims to facilitate seamless, automated transactions across various networks, enhancing global commerce.
Circle's acquisition of the tokenization startup Hashnote was valued at approximately $100 million, according to recent IPO filings. The deal included $9.9 million in cash and nearly 2.9 million shares, with additional shares contingent on employee vesting conditions. Circle aims to raise about $600 million through its upcoming IPO.
Cloudflare is set to launch NET Dollar, a U.S. dollar-backed stablecoin aimed at facilitating instant and secure transactions for the evolving agentic web. This innovation seeks to modernize the Internet's financial infrastructure, enabling automated transactions and supporting a new business model that rewards originality and creativity in an AI-driven environment.
Kraken has introduced Krak, a new payment app offering free local and international transactions in over 160 countries. Users can earn rewards for holding stablecoins and other digital assets, while the app aims to provide a crypto-native alternative to existing payment platforms like Venmo and PayPal.
PayPal is set to expand the utility of its stablecoin, PYUSD, by integrating it into the Stellar blockchain network, pending regulatory approval. This integration aims to enhance fast and affordable payments, remittances, and access to financing for small and medium-sized businesses through the use of PYUSD.
SoFi Technologies is set to reenter the crypto market, focusing on stablecoin issuance and tokenized loans, after pausing its crypto offerings two years ago. With favorable regulatory conditions under the Trump administration, SoFi aims to launch these services within the next two years, highlighting the financial advantages of blockchain technology.
Blockchain lender Figure Technology Solutions Inc. is set to go public this month, aiming to raise up to $526 million in an IPO that could value the company at $4.13 billion. Founded in 2018, Figure has expanded its offerings beyond home equity loans to include crypto-backed loans and is leveraging AI for loan evaluations, reporting significant revenue growth in recent months.
Ripple is set to acquire the stablecoin payments platform Rail for $200 million as part of its strategy to enhance its stablecoin infrastructure. This move follows significant investments in the cryptocurrency sector and aims to bolster the utility of its own stablecoin, RLUSD, which launched last year.
Stripe is creating a stablecoin-based product targeting customers outside the US, EU, and UK, utilizing technology from its recent $1.1 billion acquisition of Bridge. The product is in the testing phase, with Stripe seeking customer feedback on its features and functionality.
Societe Generale has announced plans to introduce a publicly tradable, dollar-backed stablecoin called "USD CoinVertible," making it the first major bank to enter the dollar-pegged cryptocurrency market. The stablecoin will be issued on Ethereum and Solana blockchains, with trading expected to commence in July through its digital asset subsidiary, SG-FORGE.
Circle has selected Safe as its premier institutional storage solution for the USDC stablecoin, enhancing USDC's role in DeFi and institutional treasury management. Safe, a multisig platform, secures over $60 billion in digital assets and aims to position USDC at the core of its ecosystem. The partnership responds to the growing demand for secure digital dollars in institutional finance.
World Liberty Financial, backed by the Trump family, is set to launch a debit card and retail app that will integrate peer-to-peer transfers with trading features, aimed at promoting its stablecoin USD1 for everyday payments. Additionally, the company has signed a memorandum of understanding with South Korean exchange Bithumb to explore potential business opportunities.
Hyperliquid has launched its native stablecoin USDH, with an initial trading volume of approximately $2.2 million in a USDH/USDC pair. The stablecoin, fully backed by cash and U.S. Treasuries, was issued after Native Markets won a validator vote, marking a strategic move as competition in the stablecoin space intensifies.
Coinbase has launched a new platform that allows businesses to easily accept stablecoin payments, aiming to simplify cryptocurrency transactions for merchants. The initiative is part of Coinbase's ongoing efforts to expand its services and cater to the growing demand for crypto payment solutions in the business sector.
Ripple is set to acquire stablecoin payments firm Rail for $200 million to enhance its RLUSD stablecoin offerings. The Toronto-based company provides virtual accounts and automated systems, allowing seamless digital asset transactions, and the deal is expected to close in the fourth quarter of this year. With this acquisition, Ripple aims to strengthen its position in the expanding stablecoin ecosystem.
Donald Trump has called for the swift passage of a new stablecoin bill, emphasizing the importance of regulatory clarity in the cryptocurrency sector. He believes that a well-structured framework will benefit the U.S. economy and foster innovation in digital currencies. Trump's advocacy highlights the growing intersection of politics and the evolving landscape of cryptocurrencies.
MetaMask's newly launched mUSD stablecoin has quickly increased its circulating supply to $65 million, a significant rise from $15 million just a week earlier. The stablecoin, backed 1:1 by dollar-equivalent assets, is primarily deployed on the Linea network. As the stablecoin market grows, mUSD's emergence follows recent regulatory developments in the U.S.
TD Cowen highlights that attempts to link the stablecoin bill to Donald Trump and Elon Musk are creating significant political obstacles, despite bipartisan support. Key issues such as federal versus state oversight and the treatment of offshore stablecoins remain unresolved, potentially delaying the bill's enactment.
Paxos has launched the USDG stablecoin in the EU, backed by a consortium including Robinhood and Kraken, aiming to meet rising demand for U.S. dollar-pegged assets in European markets. USDG is regulated under the EU’s MiCA framework and provides users with one-to-one dollar redemption, competing with established stablecoins like USDC.
MetaMask has introduced a new feature called Stablecoin Earn, allowing users to earn passive income by depositing stablecoins like USDC, USDT, or DAI into the Aave lending protocol directly within the MetaMask Mobile App. Users can withdraw their earnings anytime with no additional fees, maintaining full control over their assets without any lock-in period.
Circle is exploring the concept of reversible stablecoin transactions to enhance security and user experience. This approach aims to allow users to reverse transactions under certain conditions, addressing concerns regarding fraud and transaction errors in the cryptocurrency space. The initiative is part of a broader trend towards improving the functionality and trustworthiness of digital currencies.