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“# USDC to consolidate reserves into cash and US treasuries ” Coinbase president and COO, Emilie Choi, has announced that the reserves backing the stablecoin USD Coin (USDC) will be consolidated into cash and U.S. government treasuries. An Aug. 22 blog post from CENTRE Consortium, the entity that was collaboratively established by top U.S. crypto…
“# DeFi proves that charities could be doing more with their money ” Most of the stories coming out of the crypto industry this past year have centered around enormous numbers flowing in and out of the space. From stablecoins topping over $100 billion, with Circle raising $440 million in private investment in the spring, to…
“# Stablecoin adoption and the future of financial inclusion ” Institutional interest in crypto is growing, confirmed by a Goldman Sachs survey, which found that 40% of the company’s high-net-worth clients were already exposed to cryptocurrencies. Stablecoins — which offer a more secure and steady option in the crypto space — have experienced hyper-growth, reaching…
“# Bitcoin bulls at risk? Tether growth rate flatlines despite market cap crossing $64B ” Tether Holdings Ltd, the issuer of the largest stablecoin, Tether (USDT), reported that its total market capitalization had crossed $64 billion for the first time in history. The company called the event a “milestone,” adding that it is another indication…
“# Balancer’s new MetaStable Pools seek to facilitate wrapped asset swaps ” AMM DeFi protocol Balancer announced Monday that it had partnered with DAO-based staking platform Lido to introduce a MetaStable Pool incentive program. MetaStable Pools are liquidity pools specifically designed to work with highly correlated (but not hard-pegged) tokens, like wrapped assets. Users will…
“# Chilean Peso stablecoin goes live on Stellar Network ” A new stablecoin pegged to the value of the Chilean Peso is now live on the open-source Stellar payments network — but is yet to prove popular with users. Chile-based firm CLPX Inc launched what it describes as the first-ever Chilean Peso pegged stablecoin dubbed…
“# Coinbase removes ‘backed by US dollars’ claim for USDC stablecoin ” USD Coin (USDC), Circle’s dollar-pegged stablecoin, seemingly lost one of its biggest competitive advantages over its rival, Tether (USDT). Major crypto exchange Coinbase made an important change on the USD Coin page on its website following an audit which revealed that not all…
“# Biconomy’s Hyphen enables low-cost transfers between Ethereum and Polychain ” Multichain infrastructure network Biconomy has formally launched its Hyphen mainnet, setting the stage for instant low-cost token transfers across blockchains like Ethereum and Polygon. With the launch of Hyphen, users can make near-instantaneous USD Coin (USDC) transfers between Ethereum and Polygon rather than waiting 30…
“# Tether claims to have increased total assets by $21B in new accounting review ” Tether Holdings Limited, the company behind the USDT stablecoin, released an independent accountant report on Monday claiming that its tokens are fully backed by its reserves. Moore Cayman, an accounting network based in the Cayman Islands, reviewed Tether’s latest Consolidated…
“# What form of digital assets will be the future of payments? ” We’re living in a time where digital assets are moving towards mainstream adoption. From retail customers to traditional banks and financial service providers, digital assets are on the rise. Many of these assets promised to disrupt financial markets and large incumbents, and…