Category: Stablecoin News

G20-Backed Think Tank Factors in Stablecoins and CBDCs in Solving Remittance Woes

The Financial Stability Board (FSB), a multinational Think Tank that provides policy recommendations to the G20 has highlighted the importance of stablecoins and Central Bank Digital Currencies (CBDCs) in the pursuit of a functional global remittance network. In its latest report, the body highlighted the challenges that surround cross-border payments which range from high transaction […]

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Breaking: G7 Nations Set to Release Guidelines For CBDC Issuance

The G7 council consisting of seven industrialized nations is set to issue guiding principles for issuance of Central Bank Digital Currencies (CBDC). The G7 council comprises Britain, Canada, France, Germany, Italy, Japan, and the United States, however, none of the G7 members have yet issued a CBDC. The draft guidelines reportedly consist of 13 points […]

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Ripple’s former partner announces exclusive collaboration with Rival Token

The digital P2P payments giant, MoneyGram International, Inc. announced a partnership with Ripple’s competitor, Stellar Development Foundation, a non-profit organization that supports the development of Stellar, an open-source public blockchain network facilitating cross-border transactions. Earlier this year, Ripple and MoneyGram wound down their partnership as MoneyGram suspended trading on Ripple’s platform in lieu of the […]

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Georgia’s Central Bank Looks to Launch its CBDC by 2022

Georgia’s apex bank, the National Bank of Georgia is set to launch its Central Bank Digital Currency (CBDC) trial via a pilot program in 2022. According to the Vice-President of the Central Bank Papuna Lezhava, the pilot test will reposition Georgia as being supportive of financial innovation that is currently being embraced by about 85% […]

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Fed plans to launch the U.S. CBDC review this week, weighing pros and cons

The U.S. Federal Reserve aims to launch a review as early as this week, on possible advantages and drawbacks upon issuance of the digital Dollar. According to the latest Wall Street Journal report, the review will be launched through a paper, that will further analyze the issue, along with accumulating public comments on the topic. […]

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Breaking: VISA Unveils Layer-2 Interoperability Platform For Stablecoins

Visa, the payment processing giant is expanding its crypto infrastructure with a new stablecoin interoperability focused layer-2 solutions that would allow Central Bank Digital Currencies (CBDCs) and private stablecoins to be transferred between different blockchain. The new platform would be called the “universal payments channel” (UPC). The development of the stablecoin layer 2 solutions can […]

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Cardano ($ADA) Announces New Stablecoin Issuer, Hoskinson Calls it Game-Changer

Cardano ($ADA) blockchain is fast moving towards building its own decentralized ecosystem after the successful integration of smart contracts via Alonzo hardfork. During the ongoing Cardano Summit 2021, founder Charles Hoskinson announced COTI would be the official stablecoin issuer on the Cardano blockchain that would issue Djed stablecoins. At the #CardanoSummit2021 stage in Laramie, Wyoming […]

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Fed Report’s regulatory overhaul designates Stablecoins as systemically risky

The upcoming CBDC report by the Treasury, the Fed, and other financial regulators will reportedly focus on imposing stricter regulations on stablecoins in lieu of an underlying and undetected risk factor. According to the New York Times, the Financial Stability Oversight Council holds the power to designate stablecoins as, systemically risky financial system, which in […]

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ECB President asserts “Cryptos are not currencies, full stop.”

ECB President, Christine Lagarde made anti-crypto comments on “The David Rubenstein Show: Peer-to-Peer Conversations“. On the issue of crypto’s global purpose and whether it’s too early to determine one, Lagarde claimed that the decentralized sphere is supported by a highly speculative asset class, which stands nowhere close to the definition of currency. “Cryptos are not […]

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