Tag: Stablecoins

DefiDollar scores $1.2 million in new funding to build a USD token backed by a stablecoin index

DefiDollar scores $1.2 million in new funding to build a USD token backed by a stablecoin index

Just when you thought the DeFi world couldn’t get more meta, along comes a stablecoin made up of, well, stablecoins: DefiDollar.  The project, which traces its origins to HackMoney, announced Wednesday that its raised $1.2 million from a group of professional trading firms and venture capitalists. The deal was led by Standard Crypto, Accomplice, and […]

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Bitcoin-Friendly Avanti Receives License to be The Second Crypto Bank in The US

Bitcoin-Friendly Avanti Receives License to be The Second Crypto Bank in The US

Now the United States can boast a new crypto bank: Welcome Avanti. Avanti Financial Group, a firm founded by the former managing director at Morgan Stanley, Caitlin Long, announced that it had been granted a license to offer banking services by the Wyoming State Banking Board. Avanti is The Second Crypto-bank Operating in the United […]

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Why PayPal might be interested in BitGo

Why PayPal might be interested in BitGo

Quick Take PayPal made headlines in the crypto/blockchain industry last week by announcing its 350 million users will be able to buy and sell cryptocurrencies. Then came the news that it was exploring acquisitions of cryptocurrency companies such as BitGo. The acquisition of a crypto infrastructure/prime brokerage provider, such as BitGo, would signal a deviation […]

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New WordPress plugin allows content to be timestamped on Ethereum

New WordPress plugin allows content to be timestamped on Ethereum

A new WordPress plugin now allows users to timestamp content on the Ethereum blockchain.  The plugin, developed by Amsterdam-based startup WordProof, is meant to improve copyright protection, increase transparency around content creation and ownership as well as keep track of content manipulation. According to research firm W3Techs, WordPress powers nearly 39% of all websites and […]

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Bitcoin Businesses on the Mend: Report Shows 57% of Crypto Execs Expect the Industry to Accelerate, Companies Are Hiring

Bitcoin Businesses on the Mend: Report Shows 57% of Crypto Execs Expect the Industry to Accelerate, Companies Are Hiring

Digital Currency Group (DCG) recently published the firm’s “State of Crypto 2020” report which polls more than 150 portfolio crypto companies. According to the study, 75% of the respondents believe the value of their business has grown this year, while 50% of the startups have seen outperforming start-of-year projections. The state of the cryptocurrency industry […]

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Solana becomes fourth blockchain to support USDC

Solana becomes fourth blockchain to support USDC

Solana — the blockchain behind decentralized exchange Serum — will now support stablecoin USDC, according to an announcement by Circle.  Launched by Centre, a consortium made up of Circle and Coinbase, USDC is the second-largest stablecoin by total supply behind Tether’s USDT. In total, USDC’s supply stands at $2.7 billion, according to data from The […]

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FSB Report Says Stablecoins Promote Financial Inclusion: Urges Regulators to Tighten Laundering Controls

FSB Report Says Stablecoins Promote Financial Inclusion: Urges Regulators to Tighten Laundering Controls

The Financial Stability Board (FSB) says stablecoins have the potential to enhance the efficiency of the provision of financial services. The body adds that the hybrid cryptocurrencies have the potential to bring efficiencies to payments (including cross-border payments) as well as to promote financial inclusion. Yet despite this acknowledgment, the FSB still argues against the […]

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Stellar (XLM) Soars after USDC Stablecoin Announces Blockchain Implementation

Stellar (XLM) Soars after USDC Stablecoin Announces Blockchain Implementation

Stellar Lumens (XLM) has seen large green candles in the past 24 hours as Coinbase & Circle’s USDC announced the integration of Stellar’s blockchain starting early next year. Announcing Circle’s USDC support for Stellar across its suite of payments infrastructure APIs and business account products by Q1 2021 🚀 https://t.co/MrlQB4JTGA — Circle (@circlepay) October 15, […]

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New data show how dominant Tether has become as a trading pair on crypto exchanges

New data show how dominant Tether has become as a trading pair on crypto exchanges

Bitcoin used to be far and away the most popular trading pair at crypto exchanges. These days, the distinction belongs to Tether. Around 70% of the trading volume at exchanges is now denominated in Tether, while 15% is denominated in bitcoin and another 4% is in other stablecoins.   In the first quarter of 2017, bitcoin […]

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Unsealed DOJ documents say alleged money launderers tried to bribe U.S. officials using Tether

Unsealed DOJ documents say alleged money launderers tried to bribe U.S. officials using Tether

The Department of Justice (DOJ) has unsealed documents related to a drug smuggling case alleging that a cartel attempted to bribe U.S. officials and purchase U.S. passports using the cryptocurrency Tether. As first reported by Decrypt, the documents, which were published September 24, accuse six individuals of laundering millions for drug cartels over the course […]

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