Tag: Stablecoins

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Why is Tether Stockpiling $8 Billion Worth of Gold in A Secret Swiss Vault?

Key Insights:  Tether has just announced that it holds nearly 80 tons of gold in a “secret” Swiss vault. Tether’s gold holdings aren’t just...

South Korea Forced To Abandon CBDC Project As Commercial Banks Favor Stablecoins

Key Insights: The Bank of Korea has paused its CBDC trials due to commercial banks favoring stablecoins. South Korea's President Lee Jae-myung's pro-crypto stance...

Bank for International Settlements (BIS) Says Stablecoins “Fail As Money”: Here’s Why

Key Insights: The Bank for International Settlements (BIS) argues that stablecoins "fail as money". Stablecoins lack "singleness," "elasticity," and "integrity," making them vulnerable to...

South Korea Pushes Crypto Reform With Digital Asset Bill

Stablecoins are codified into law in South Korea under the Digital Asset Basic Act. Local enterprises require 500M won to produce reserve-backed stablecoins. ...

Uber Taps Stablecoins to Revolutionize Global Payments and Transfers

Uber is studying stablecoins to streamline global payments.  Stablecoins could cut cross-border fees and delays significantly.  CEO Dara Khosrowshahi sees blockchain as a...

FTX Set to Distribute $5B in Stablecoins to Creditors

FTX will provide investors $5B in stablecoins by May 2025. Total claims are $11.745M, with recoveries at 123%-138%. The 2022 asset valuations used...

Russia Tightens Grip on USDT, Permits Cross-Border Crypto Use

Russia's new rules exclude USDT from domestic use due to sanctions risks.  Cross-border crypto transactions, including USDT, remain legal for international trade. The Central...

Italy Warns of Crypto Risks Amid Trump’s Support Surge

Trump’s crypto support contrasts with Italy’s cautious stance.  Digital assets’ ties with finance threaten global stability.  Stablecoins’ reliance on U.S. bonds raises systemic...

Circle Secures ADGM Approval to Expand Stablecoin Services in UAE

Circle receives ADGM approval to expand stablecoin services in UAE. Circle eyes full regulatory approval to operate in UAE's digital market. Circle, a global...

Mastercard Partners with OKX, Nuvei for Stablecoin Transactions

Mastercard partners with OKX, Nuvei for stablecoin payments. Mastercard integrates stablecoins for everyday global purchases. Mastercard has taken a major step in digital finance...

ECB Flags US Stablecoins Threat, Urges MiCA Reforms

ECB warns US stablecoins threaten European financial sovereignty. EU resists revising MiCA regulations despite ECB concerns. In a deepening policy divide within the European...

Bank of Korea Joins Stablecoin Regulation Efforts

Bank of Korea joins efforts to regulate stablecoins amid rising risks BOK flags risks of stablecoins threatening South Korea’s monetary stability The Bank of...