Stablecoins: Money of the Future

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Stablecoins are currently the fastest growing sector of the cryptocurrency market, worth $186 billion; these constitute cryptocurrencies whose values are pegged to real life commodities like gold or the US dollar. This is opposed to traditional cryptocurrencies such as Bitcoin or Ethereum whose markets are very volatile and can fluctuate by 10-20 percent in the…

Tether Clears Air with New Banking Partner and Balance Sheet

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In an apparent attempt to bring an end to USDT’s unrelenting solvency saga, Tether Limited has procured a new banking partner and laid bare its “portfolio” reserves in an account statement dated Oct. 31. We are pleased to be able to confirm that Tether has an account with Deltec Bank & Trust Limited https://t.co/LSn64soUsC .…

Early-Access Launch of USD-Pegged Cryptocurrency StableUSD Announced by Stably

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Stably, a venture capital-backed startup seeking to bring stability to the cryptocurrency market is launching an early-access sale of a price-stable cryptocurrency that is pegged and fully backed 1:1 by the U.S. dollar, the StableUSD (USDS) stablecoin, the company announced in a press release on Oct. 31. Stably Launches Early-Access StableUSD Sale The Stably developer…

Bitcoin Payments Provider BitPay Adds Gemini Dollar and USD//Coin as Settlement Options

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Cryptocurrency payments provider BitPay added two stablecoins for fiat-equivalent settlements at merchant-level on Oct. 15, according to a press release. Stablecoin Usage Gaining Traction Seeing a significant demand for the usage of credible stablecoins in the cryptocurrency market, BitPay added Circle’s Centre USD//Coin (USDC) and the Gemini Dollar (GUSD) – both pegged on a 1-to-1 basis…

People’s Bank of China Recommends Yuan-Pegged Stablecoin

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An independent researcher from the People’s Bank of China (PBoC) argued that China must increase its research efforts in the stablecoin space and support upcoming companies that are exploring a yuan-pegged cryptocurrency. YuanCoin to Arrive? The views were written in an op-ed piece published on Oct. 9 by CN Finance, a magazine wholly-owned by PBoC,…

Circle Introduces Stablecoin Backed By U.S. Dollar

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Regulated stablecoins continue their disruptive journey into mass adoption as Circle announces application of tokenized fiat assets. The U.S. dollar-backed stablecoin USD//Coin (USDC) is the product of Circle’s partnership with CENTRE, the open source distribution network which will facilitate deposits from U.S. bank accounts. With an open-internet concept in mind, USDC was designed for universal…